- This role is responsible to follow-up with Default customer for Recovery of over-due amount as per the Allocation
- For any unresolved cases, the incumbent needs to decide on the most value added mode of follow-up; adopt different strategies for the collection at different point of time; work on having the customers being treated well during the Overdue Follow up; Motivate the customers to make On Time Repayment; Trace out the absconded default customers and initiate recovery process
- SIZE OF THE ROLE
FINANCIAL SIZE
NON-FINANCIAL SIZE
- Portfolio – 350 + accounts with arrear of 70+ lacs
- NA
- KEY DUTIES & RESPONSIBILITIES OF THE ROLE
Business
- Follow up with the customers to collect the repayment from the customer
- Convince the customers to make the repayment, take PTP's and follow up
- Update the status of the repayment to branch staff
- Update the details of the interaction with the customer in the Software
- Issue the Receipt to the customer and deposit the amount with the Cashier
- Communicate the customers about the consequences of non-payment
- Trace out of absconded default customers and initiate recovery process
- Initiate the Legal process in case of Non-Repayment based on the Document available with the organization
- Manage collection process and legal guidelines; Initiate the process of reporting full details about non-payment customers for action plan and maintain the Monthly Collection Target is met
- Ensure that the Monthly individual collection target is met
Customer
- Interact with the customers politely, Convince the customer to make the repayment
- Maintain fair collection practices while dealing with customers
- One should contact people other than the customers only to locate the borrower
- Communicate the Consequences thoroughly to the customers about the Non-payment
- Issue the notices to the customers at different stages with details of further course of action
- Understand the customers situation and adopt various strategies for collection
- Customers should be treated with respect and no false, deceptive, or misleading claims should be made for the purpose of collecting repayments. This includes misrepresenting his/ her identity or falsifying facts about debt status or consequences of non-repayment or claiming any monetary or non-monetary awards post tracing of the customer.
Internal process
- Ensure that collection process and legal guidelines to be adhered
- Recommend for legal actions for non-recoverable cases above Rs 10,000 O/s cases and follow up with the Legal Cell for the closure of the cases
- Complete administrative work related to collection such as updating delinquent account history, updating change of customers information, providing and maintaining MIS report, reviewing of collection feedback on Daily, Weekly & Monthly basis, etc
- Review the Cases with Manager before taking further course of action
- Report any fraud identified in the field to Vigilance
- Interact with different teams at appropriate verticals and if required engage them for collections.
- Recommendation of doubtful overdue cases for writing off in co-ordination with the team.
Learning & Performance
- Ensure that you are up to date on all relevant circulars and all products/services offered in the Branches.
- Ensure adherence to training man-days/ mandatory training programs for self
- Ensure goal-setting, mid-year review and annual appraisal process within specified timelines for self.
- Ensure coordination between different teams, to build a team-oriented spirit and shared sense of purpose.
- MINIMUM REQUIREMENTS OF KNOWLEDGE & SKILLS
Educational
Qualifications
- 12th Pass/ Graduate in a related field
Experience
- 2 years of experience for 12 th Pass candidate and/or 1 year of experience for a graduate in relevant areas of collections, risk controls
Certifications
- NA
Functional Skills
- Fluent in Communication in the local language
- Understanding of the documents of the Secured Loans
- Knowledge of various strategies that can be adopted for recovery of secured loan – Legal etc.
- Has to have tenacity in meeting targets.
- Take responsibility of effectiveness and timely completion of work.
- Planning, organizing and time management skill. Should have the ability to prioritize.
Behavioral Skills
- Good Convincing skills which can be adopted during the collection.
- Strong communication skills with the ability to communicate directly with field staff & customers.
- Local language skills will be preferred
- KEY INTERACTIONS