MoneyTap - Head - Collections - Retail Lending

What does a Head Of Collections mean to us?

Given that we are the only real Product company in the world of Financial Services, we need to take our award-winning post-product-market-fit product with terrific unit economics, to the next level. In other words, we need to scale. And as we expand markets, customer segments and build our own lending book, we need to create similar benchmarks in the collections vertical as well. And we want someone to come and come up with new ways of collecting as well in addition to setting up the basics.

The individual will primarily be responsible for setting up our collections vertical from scratch.

We want to expand to 100 cities within the year and 400 cities over the next few years and we need the collection infra to be set up. Working with agencies and setting up calling systems is a must and is really the minimum. We also want to innovate in the vertical and come up with many new solutions/ ideas/processes that will help us collect better while giving a superior experience to our customer and yet not increase the cost of collection dramatically.

We are in a unique point of time in a unique industry right now. With a product that has no direct competition in a market that is humungous, run by serial entrepreneurs who are easy to work with, backed by the best investors (recently announced a $12.3 mil fundraise by Sequoia, NEA and Prime Ventures) in the world, the only people that can stop us are ourselves.

Strategic Goals:

- Build the collection vertical and the organizational structure for 30 cities, going to 100 cities

- Identify agencies and sign up relevant ones across geographies

- Define goals and metrics for internal teams and teams at the agencies

- Manage the work flow and track their performance

- Generate customer insights from this process to feed it back into the product

- Work with product and credit teams to implement innovative solutions for collections

- Manage the cost of collections within agreed budgets

Skills:

- Have 10 to 15 years of experience working with an MNC financial institution or NBFC dealing in unsecured retail lending collections

- Has handled collections for unsecured loans (Personal Loan and Credit Cards) with an NBFC or a large retail bank

- The successful candidate should have managed various geographies PAN India and should have built the collection team from scratch primarily in the unsecured loans portfolio.

- Manage customer queries and complaints with an efficient redressal mechanism in place.

- Strong end to end collections experiences in unsecured retail assets segment with the understanding of credit appraisal cycle, underwriting, fraud management, and operations.

- Identification, impaneling, training and retention of the desired agencies at regional/area levels.

- Act as a constant source of feedback to product and policy teams to aid in amending policies/products time to time to suit the market risk.

- Ensure that region/area is always Audit Ready and Complaint with internal and external policies and regulations in the area of management.

- Have excellent verbal and written communication skills

- Have strong analytical and problem-solving skills

- Extreme proficiency in MS Excel

- High attention to detail

- Be energetic, highly motivated person

- Feel comfortable in an entrepreneurial environment, with its fast pace and fluid nature, comfortable delivering results with a small, lean team

- You can't be a jerk, we have zero tolerance no matter how good you are: you have to work with other people

- Passion and a strong sense of ownership, even about things that are not your directly responsibility