Overview
The Collection Strategy Head will be responsible for developing, implementing and overseeing the collection strategy.
The role requires expertise in collections management, risk mitigation and understanding of financial products.
Collection Strategy Development and Execution:
i) Develop and implement comprehensive collections strategies for various loan products, including home loans, secured LAP and business loans.
ii) Define and manage the collections lifecycle from early-stage to default management, ensuring efficient customer contact and recovery.
iii) Analyze collection patterns and trends to recommend actionable strategies for reducing delinquencies and improving collection rates.
Data Driven and Decision Making:
i) Leverage data analytics and advanced collections technologies (e.g., predictive modeling, automation tools) to design and refine collection strategies.
ii) Monitor collection metrics such as recovery rates, roll rates, and bucket performance, adjusting strategies to enhance outcomes.
iii) Collaborate with the IT and analytics teams to implement tools that support data-driven decision-making in collections.
Stakeholder Management
i) Work closely with the senior leadership team to report on collection performance, identify areas for improvement, and recommend solutions.
ii) Engage with external service providers, vendors, and legal teams for specialized collection efforts, ensuring cost-effective operations and maximum recovery.
iii) Maintain strong relationships with internal departments such as Sales, Risk, Legal, and Customer Service to ensure alignment and cross-functional cooperation
Compliance and Risk Management:
i) Ensure all collections activities are compliant with applicable regulatory and legal standards, including consumer protection laws and fair debt collection practices.
ii) Maintain up-to-date knowledge of industry trends, legal changes, and best practices in collections management.
iii) Mitigate financial and reputational risk through effective management of customer relationships and proactive resolution of conflicts
Reporting and Performance Analysis:
i) Provide regular reports and updates to senior management on collections performance, challenges, and opportunities for improvement.
ii) Prepare and present detailed analysis of collections trends, risk exposure, and recovery outcomes to internal stakeholders.
iii) Drive initiatives to improve key metrics, including recovery rate, days past due, and bad debt write-offs.
Candidate Details:
i) Bachelor’s degree in Finance, Business Administration. A Master’s Degree (MBA) is a plus
ii) Minimum of 8-10 years of experience in collections, recovery, or credit risk management within financial services, banking, or NBFCs.
iii) At least 4-5 years in a leadership role managing large teams, with direct experience in developing collection strategies and managing collections operations.
iv) Proven track record of managing delinquency reduction programs, improving collection performance, and reducing bad debts.
v) Experience with collections systems, data analytics platforms