Job Description

Manage Unsecured Loan Recovery Process:

• Develop and implement effective recovery strategies for unsecured loans, including personal loans, credit cards, and other non-collateralized debts.
• Identify and prioritize delinquent accounts and create action plans to recover dues in a timely manner.

Team Leadership & Management:

• Lead and manage a team of recovery officers and executives.
• Assign and monitor recovery targets for team members.
• Train and mentor the team to improve collection techniques and negotiation skills.

Negotiations & Settlements:

• Directly handle high-value and sensitive accounts.
• Negotiate settlements with defaulters where possible and ensure legal action is taken in cases of non-payment.
• Maintain detailed records of all settlements, legal actions, and communications.

Risk Assessment & Analysis:

• Continuously monitor and evaluate the portfolio to identify high-risk accounts.
• Collaborate with the risk management team to develop strategies for minimizing risk on unsecured loans.

Compliance & Regulatory Adherence:

• Ensure recovery efforts comply with all relevant regulations and laws (e.g., Fair Debt Collection Practices Act, RBI guidelines in India).
• Stay updated on regulatory changes and ensure the team adheres to legal frameworks.

Customer Relationship Management:

• Ensure professional and empathetic communication with customers during the recovery process.
• Address customer grievances and resolve issues efficiently.

Reporting & Analytics:

• Prepare regular reports on recovery progress, delinquency rates, and recovery rates.
• Provide management with data-driven insights and suggest improvements to recovery processes.

Collaboration with Legal Teams:

• Work closely with the legal department to initiate litigation when necessary.
• Coordinate with external agencies or recovery agents if required.

Performance Monitoring:

• Analyze recovery performance metrics, including cash collection, non-performing assets (NPA) ratios, and delinquency levels.
• Implement corrective actions as needed to achieve recovery targets.

Budget Management:

• Manage the departmentxe2x80x99s budget for legal expenses, external agencies, and other recovery-related costs.
• Ensure recovery efforts are cost-effective while maximizing,

Acura Solutions