Administrative Reporting: State Collection Manager
Functional Reporting: State Collection Manager
Dec 2024
Job Purpose
The purpose of this role is to get payments from customers or clients who default on loans, or other financial obligations with the Company.
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ROLE SPECIFICATION
Role Title
Cluster Collection Manager
Employee Interviewed
Mr Nandhakumar V
Reports To
Mr Balakumaran S - State Collection Manager
Company
Muthoot FinCorp Limited
Function/Department
Secured & Unsecured Lending Business
Written By
Samyukt Johnson & Parthasarathi
Approved By (Jobholder)
Approved By (Immediate Superior)
Date (Written On)
10th Dec’24
ROLE SUMMARY
This role involves ensuring efficiency, compliance, and seamless collaboration with the customers and other stakeholders. The responsibilities include developing payment plans, locating debtors to begin the recovery process, and negotiating debt payments.
ORGANIZATIONAL CHART
KEY RESPONSIBILITIES
Operational activities
Initiative and discretion are responsible for pursuing payment of these financial obligations.
Planning, organizing and coordinating of collecting payments from the defaulter
Achieving target and organizational goal
Coordinate efforts to collect debts with sales and legal departments.
Create plans and strategies for collecting debts.
Adhering to financial laws on the regulation of debt collection.
Contact and communicate effectively with debtors by phone to negotiate and implement debt recovery plans.
Responsible for bucket X to NPA
Responsible for bucket wise efficiency, keeping target and updating weekly basis
Compliance
Ensure you adopt code of conduct and follow policies
Team Management
Manager of Area collection Manager and collection officers
Close connect with Reportees.
Training and Awareness
Provide training and awareness programs to ACM & CO's, educate them, how to handle a customer in all the situations
Audit
Ensure to get audited all the activities in the collection team.
Stakeholder Engagement
Engage with ACM & COs to ensure alignment and effective communication.
Co-ordinate with Legal, compliance, business and operations
KEY CHALLENGES
- Technology (system down & UPI)
- Limited time for deposit collection
- Lack of support from GL branch