Redemption Operations Team Lead

Toyota Financial Services Philippines Corporation; Makati; On-site; PHP 391,000 - 614,000; Full time

Job summary

Toyota Financial Services Philippines Corporation is seeking a records and collections professional to oversee repossessed and surrendered accounts. You will maintain accurate records, monitor documentation, and ensure timely updates in the collection system to support efficient recovery operations.

The role involves managing the end-to-end redemption process, monitoring redemption periods, coordinating with ECAs and in-house collectors, and ensuring adherence to turnaround times and policies

Responsibilities

• Maintain, update, and monitor records of repossessed and surrendered accounts from ECAs and In-House Field Collectors, ensuring accuracy and timeliness.
• Ensure timely updating and uploading of repossession and voluntary surrender records in the collection system (IDCS).
• Oversee end-to-end redemption process and achieve prescribed redemption ratio targets through monitoring and coordination.
• Monitor redemption periods and identify accounts with expired or no redemption activity for endorsement to ROPA.
• Process CTS requests and facilitate endorsements for appraisal, valuation, disposal, or sale of repossessed assets.
• Prepare notices to ECAs regarding delays or non-compliance with turnaround times, and coordinate with Billing Unit on proper application.
• Coordinate documentary requirements for accounts with foreclosure petitions.
• Control losses by encouraging redemption of qualified accounts based on risk, history, and pay capacity.
• Participate in unit budget report preparation and regular reviews of Recovery and Remedial Management policies.
• Perform other job-related activities and applicable projects as deemed necessary.

Job description

• Maintain, update, and monitor records of accounts with repossessed and voluntarily surrendered units reported by External Collection Agencies (ECAs) and In-House Field Collectors, ensuring the accuracy, completeness, and timeliness of account information and supporting documentation.

• Ensure timely updating and uploading of repossession and voluntary surrender records in the collection system (IDCS).

• Oversee and manage the end-to-end redemption process, ensuring efficient execution of redemption activities and achievement of the prescribed redemption ratio targets through effective monitoring, coordination, and performance management.

• Monitor redemption periods of repossessed vehicles and identify accounts with expired or no redemption activity for prompt endorsement and tagging to ROPA.

• Process Confirmation to Sell (CTS) requests and facilitate endorsements to concerned departments for appraisal, valuation, disposal, or sale of repossessed assets.

• Prepare and issue notices to ECAs regarding delays, deficiencies, or non-compliance with established turnaround times (TATs).\

• Prepare billing memo to ECA (if beyond agreed TAT) and coordinate with Billing Unit on proper application.

• Facilitate the preparation, consolidation, and endorsement of documentary requirements for accounts with petition for foreclosure.

• Control losses caused by high credit provision and ROPA provision by encouraging unit redemption of qualified accounts depending on risk profile, payment history and status of income source and capacity to pay.

• Participate in the preparation and consolidation of the unit's budget reports.

• Participate in regular reviews of Recovery and Remedial Management policies and procedures, recommending necessary enhancements to ensure continued relevance, effectiveness, and regulatory compliance.

• Performs other job-related activities and applicable projects as deemed necessary.