Head of Collections

Tonik; Pasig; On-site; PHP 1,800,000 - 3,200,000; Full time

Job summary

Tonik is seeking a senior leader to head Collections in the Philippines. You will oversee the management of 1-30 DPD and 60+ delinquencies, drive NPL budgets, and lead teams for unsecured and secured products (loans, revolving lines, credit cards).

You will manage outsourced collection partners for advanced buckets and ensure compliance with policies and the collection code of conduct.

Qualifications

• Bachelor's degree in Business Administration, Finance, Banking, Law or related field.
• 10+ years' experience in consumer banking/financial services.
• At least 5 years' experience in Collections for unsecured/secured products and/or litigation.
• Hands-on experience in Collection, Litigation, and Recovery processes.
• Strong knowledge of litigation processes and regulatory requirements.
• Experience managing a moderate to large collection team.

Responsibilities

• Oversee and optimize collection strategies for unsecured and secured products.
• Lead and manage collection teams, ensuring target delinquencies and recoveries are met.
• Coordinate with outsourced collection partners for various debt buckets.
• Ensure adherence to collection policies and code of conduct.
• Monitor performance metrics and coach staff to improve KPIs.
• Develop and implement policies to improve collection processes.

Skills

Collections leadership

Team management

Regulatory compliance

Negotiation

Analytics

English communication

MS Office

Education

Bachelor's degree

Finance/Banking-related degree

Tools

Litigation knowledge

Job description

• Reports to the Group Head of Collection
• Contributes to managing 1-30 DPD and 30+, 60+ delinquencies, driving NPL number and SP budgets, reducing / meeting departmental cost.
• Leads and manages the team to achieve the target, delinquencies, collector productivities, and effectiveness for both Unsecured / Secured Collections (Loan, Revolving Credit Line , Credit Card etc.).
• Manages outsourced collection companies for 60+, 90+, and Bad Debt Recovery collection for written-off accounts (above 180 dpd) for Unsecured / Secured Loans, credit cards etc.
• Manages and achieves the target indicator set in terms of delinquencies, recoveries, attempts, contacts, PTP kept, and peso collected.
• Contributes to meet departmental financial KPI and departmental cost.
• Ensures that collection actions taken are within corporate guidelines and collection policies.
• Takes measures to ensure that the Collection Unit adheres to the Collection Code of Conduct at all times.
• Manages accounts in the Debt Collection system to control flow through and to achieve the targeted delinquencies and recoveries.
• Monitors and manages the Unsecured / Secured 0+, 30+, 60+ portfolio, manages the outsourcing processes for later buckets to prevent accounts from turning NPL.
• Reviews Collection statistics and implements strategies to prevent flow through of accounts, control delinquencies, maximizes bad debt recovery, and minimizes specific provisions.
• Reviews Debt Collection System work queue daily, and reviews Collectors proposal in a timely manner.
• Monitors Collectors performance closely, and coaches and guides, weaker Collectors to achieve KPIs set.
• Creates and develops new and existing policies to improve collection processes and delivery
• Manages staff resources and ensures smooth operations of the team daily.
• Assists in negotiating settlement or installment plans.
• Manages and obtains approval for composite settlement or installment plans.
• Handles and manages customer objections or issues escalated.
• Executes collection strategy to accelerate recovery.
• Provides insights / input for developing a robust and dynamic Collection Strategy.
• Manages and achieves the target indicator set in Collectors' scorecards and department KPI.
• Takes on adhoc projects and/or special tasks as assigned

Qualifications:

• Bachelor's degree, preferably in Business Administration, Finance, Banking, Law or any other relevant degree.
• 10 + years' experience in the consumer banking /financial services industry
• At least 5 years' experience in Collection for Unsecured / Secured Products and/or Litigation in the Philippines Market related to consumer /retail banking products.
• Hands-on experience in Collection, Litigation, and Recovery process.
• Strong knowledge and practical experience in litigation processes and understanding of regulatory requirements.
• Practical knowledge and experience on Unsecured / Secured products, with Collection and Recovery systems.
• Experience of managing a moderate to large Collection team comprising collection agents /team leaders/ managers
• Good negotiation skills.
• Strong skills in process and workflow management.
• Good handle of Microsoft Office programs: Word, Excel, and Powerpoint.
• Possesses strong analytical and problem-solving skills.
• Above average verbal and written communication skills, particularly in English.
• Able to communicate complex concepts persuasively to different audiences and levels within the organization.
• Responsible, self-motivated, must be capable of and enjoy working independently, driving decisions and having an entrepreneurial mindset.
• Wants to be challenged and looking for an entrepreneurial setup/culture.
• Passionate about making a difference in the unbanked segment.