Officer- Recovery

Job Description

JOB PURPOSE

Follow up on all irregular overdue accounts allocated to the Collection Agencies and ensure resolution on accounts allocated as per target assigned to them through constant follow up, persuasion and negotiation with the customers.

Key Responsibilities

Collection Activities:

• Reviewing the collections strategy regularly with the Agencies to ensure the desired results are met on weekly and monthly basis.
• Assisting in implementing and constantly monitoring the collections strategy, policies and initiatives for the bank with the overseas recovery agencies
• Follow up on all allocated overdue accounts and ensure resolution as per the target assigned (monthly).
• Ensure that the individual targets based on both Efficiency and Productivity parameters are met on a monthly basis
• Obtain detailed information about the overdue customers and the same is documented on collection system for future trails on the account.
• To engage totally with the Agency collectors and the supervisors to ensure that they prioritize recovery of FAB over other banks.
• To negotiate and ensure quick approvals for customer negotiations in consultation with the Manager, Collections / Head, Collections as necessary wherever applicable.
• Ensure that the collection process is carried out by the Agency Collectors and Supervisors within the framework of code of conduct and keeping in mind the reputation of the bank
• Any other customer follows up action as required by the Bank from time to time

Legal, regulatory and compliance:

• Ensure compliance with local legal and regulatory requirements and report any legal and regulatory developments which impact or may impact the collection activities / legal actions.
• KYC (Know Your Customer)
• AML (Anti Money Laundering)

Qualifications

Threshold Qualifications

• Bachelor's Degree
• Minimum of 3-4 years collections experience with Agency Management.

Skills set required:

• Excellent Communication skills
• Basic banking knowledge
• Strong negotiation skills
• Good computer skills