HR at NorthernArc Capital Ltd
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Northern Arc Capital - Director - SME Retail Collections (10-12 yrs)
Job Objective :
SME and Retail lending are the new frontiers identified by Northern Arc Capital as part of its strategic vision to provide efficient and reliable access of capital markets to the un/underserved segments. As some of the highest potential growth areas of the organization, SME and Retail are fundamental to the Northern Arc Capitals strategy of taking its footsteps to the last mile to facilitate financial inclusion/ diversification through innovative, structured and plain vanilla products and services. Our aim is to become the preferred partner in for our Customers by providing adequate and timely credit at affordable price through technology enabled systems and processes in an efficient manner.
- This is an exciting opportunity to join the SME and Retail Collections team as Head of SME & retail Collections
- The Head of Collections will be responsible for managing a delinquency free Loan portfolio. The incumbent is required to do this in a cost optimal manner and also ensure that there are no adverse fallouts due to the collections means employed.
- He is required to build the necessary analytic models to provide feedback to the underwriting team on fine tuning their underwriting efforts so as to avoid on boarding risky profiles.
- He is required to set up sound Collections processes while adhering to the Fair Practices Code.
- He is required to build up the Collections Infrastructure through recruitment of the right personnel, engagement of external agencies wherever appropriate and setting up of tele calling centers to ensure constant proactive customer reach out to prevent early stage delinquency and reduce flows to higher buckets.
Key Accountabilities :
- Implementing need base strategy on collection drivers: Vendor selection, Portfolio Allocation, Agency Payout, People Capacity, Contest and Incentive Plans.
- Draft and implement a standard recovery process for the business to cut down NPAs and reduce delinquency across buckets.
- Institute and establish the necessary on ground infrastructure to implement the laid down recovery process. This would include empanelment of advocates to send legal notices and for suit filing. Timely invocation of Section 138 where required.
- Formulate and implement various standard MIS like flow rates, daily bucket-wise position, etc.
- Keep a strict control on collection costs and develop tracking mechanisms for Legal, MIS and personnel cost.
- Incorporate and efficiently utilize legal tools in collections to enhance receivable at various stages of portfolio.
- Recruit and train the right manpower and ensure not only proper coverage of the geographies covered but also that collections is done with due regard to the Company's Fair Practice Code. Cultivate culture of process driven collection and deliver no derogatory remarks/observation from audit or compliance.
- Build a strong network of skip tracing, repossession and collection agencies across the country.
- Recover money from written-off pool of assets marked as loss assets.
- Ensure compliance with various laws and regulatory requirements.
- Evaluate the performance of subordinates by conducting timely appraisals.
- Ensure timely reporting of list of defaulters and outline action plan for collection from these.
Minimum Qualifications :
- Candidate must be Post Graduate in any discipline. Finance discipline preferred.
Minimum Experience :
- Candidate should have a minimum 12-15 years of relevant work experience
- Candidates must be only from NBFCs or bank with Collections experience in Retail and SME (including Unsecured products)/Commercial Vehicle/Construction Equipment/Car Loans/ Personal loans / LAP.
- Candidates must possess knowledge in Legal recovery.
Skills Required :
- Adaptable, confident, reliable and motivated postgraduates with strong time management skills and the ability to work effectively under pressure.
- Ability to multitask and deliver qualitative outputs consistently at short deadlines
- Excellent communication skills. Fluency in English is must.