Posted By
Posted in
Banking & Finance
Job Code
1393007
The Head - Collections role is a senior leadership role in the wholly owned subsidiary of Indian Bank and is responsible for overseeing and managing the overall collections strategy and operations. Reporting to Head-Business, this position involves leading the collections department for RAM products and working closely with Bank stakeholders to optimize collections performance.
The candidate must hold a Post Graduate Qualification from a university recognized by the Govt. of India/Govt. bodies/AICTE
Should have a minimum of 7 years of experience in the banking/financial services sector with at least 4+ years of experience in sales/collections
Collections Strategy:
- Develop and execute a comprehensive strategy aligned with the company's financial goals and regulatory requirements.
- Continuously assess and refine approaches including field collections and outbound collections calling to optimize results.
Team Leadership:
- Lead and monitor Area Collection Managers including collection coordinators & feet on street (FOS) collection teams.
- Provide guidance, training, and performance feedback to enhance collection skills and knowledge.
Performance Monitoring:
- Set and manage collection targets for the team, ensuring that targets are met or exceeded.
- Implement performance measurement and incentive programs to drive results.
Quality Assurance:
- Implement quality control measures to maintain accurate and ethical collection practices.
- Conduct regular audits of collection activities, documentation, & customer interaction
Collaboration with Field Collection:
- Collaborate with Field collection team to ensure seamless coordination between field and non-field collection teams.
- Provide support and resources to optimize field collection activities.
Compliance and Regulations:
- Ensure that the collection teams adhere to all relevant laws, regulations, and internal policies.
- Stay updated on changes in collection laws and industry best practices.
Reporting and Analysis:
- Review and present regular collection reports to senior management.
- Use data-driven insights to make informed decisions and adjustments to collection strategies
Vendor and Agency Management:
- Manage relationships with external collection agencies and vendors if applicable.
- Ensure that third-party collectors adhere to quality and compliance standards.
Skill
- Strategic thinking and planning.
- Effective leadership and team management skills.
- Strong analytical skills for data-driven decision-making.
- Outstanding communication and negotiation skills.
- Seeks to understand the firm's culture and values and strives to role model, embed, and inculcate these values in the workforce.
- Ethical management and integrity; Established local connections and networks.
- Thorough knowledge on Retail, MSME & Agri assets collection procedures and norms
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Posted By
Posted in
Banking & Finance
Job Code
1393007