Collections Specialist

Red Ember Recruitment (PTY) Ltd; Kempton Park; On-site; ZAR 300,000 - 500,000; Full time

Job summary

A leading company in automotive finance is looking for a Collections Specialist to manage delinquent accounts and enhance collection strategies. The ideal candidate will have strong analytical skills and a proven background in finance or collections, particularly within the automotive sector. Benefits include a cell phone allowance, medical aid, and performance-based bonuses.

Benefits

Cell Phone Allowance R500

Medical Aid R2000

Provident Fund (Employee 7.5%, Employer 8%)

Performance-based bonuses

Qualifications

• Minimum of 2 years’ experience in collections, finance, or banking, preferably in automotive finance.
• Strong knowledge of credit risk assessment and delinquency management.
• Familiarity with legal procedures and repossession practices.

Responsibilities

• Formulate and improve the company's collections management system.
• Ensure compliance with financial regulations and company policies.
• Develop repayment plans and negotiate payment terms.

Skills

Analytical skills

Attention to detail

Communication skills

Problem solving

Education

Bachelor’s degree in Finance, Accounting, Business or related field

Tools

Customer Relationship Management

Risk Management

Financial analysis

Office software (Word, Excel, PowerPoint)

Job description

Our client is seeking a Collections Specialist responsible for analyzing delinquent accounts, ensuring timely collection of outstanding payments, implementing recovery strategies, and ensuring compliance with regulatory requirements. This position requires strong analytical skills, attention to detail, and a solid understanding of vehicle financing and credit risk.

Responsibilities

1. Formulate and improve the company's collections management system, establishing relevant management systems, processes, and methods.
2. Organize the development and enhancement of the collections system, including annual management plans and policies.
3. Implement risk control management plans and update procedures based on legislative changes.
4. Ensure compliance with financial regulations, company policies, and industry standards.
5. Develop repayment plans, negotiate payment terms, and generate reports on accounts and collections performance.
6. Recommend accounts for repossession, legal action, or write-offs based on analysis.
7. Improve collection processes and strategies to reduce delinquency rates.
8. Participate in new product development and process reengineering, providing collections insights.
9. Communicate with customers and stakeholders via phone, email, or written correspondence to recover payments.
10. Develop predictive risk models and recommend automation tools to enhance efficiency.
11. Collaborate with cross-functional teams to optimize collections strategies.
12. Coordinate with regulatory agencies and manage legal, compliance, and intellectual property cases.
13. Oversee credit reviews, post-loan management, and document and quality management.
14. Promote a culture of compliance within the organization.

Requirements

• Bachelor’s degree in Finance, Accounting, Business, or related field.
• Minimum of 2 years' experience in collections, finance, or banking, preferably in automotive finance.
• Strong knowledge of credit risk assessment and delinquency management.
• Familiarity with legal procedures and repossession practices in auto finance.
• Proficiency in Customer Relationship Management, Risk Management, and financial analysis.
• Understanding of the automotive financial industry and related markets.
• Proficiency in Office software (Word, Excel, PowerPoint).

Additional Skills

• Excellent communication and coordination skills.
• Analytical thinking and problem-solving abilities.
• High integrity and confidentiality awareness.
• Proactive and team-oriented attitude.
• Service-minded with customer focus.

Benefits include Cell Phone Allowance R500, Medical Aid R2000, Provident Fund (Employee 7.5%, Employer 8%), and performance-based bonuses including an additional month's salary.