Manager Agency Recovery
Year Mumbai, Maharashtra, India
Job Description
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Job: Governance, Risk Management & Compliance
Primary Location: Asia-India-Mumbai
Schedule: Full-time
Employee Status: Permanent
Posting Date: 05/Apr/2024, 2:58:46 AM
Unposting Date: Ongoing
RESPONSIBILITIES Strategy
- Timely assignment of accounts to vendor for collection activities under relevant policies/ regulations
- Achieving assigned full year objectives as per annual Job Objectives.
- Portfolio Analysis
- Collection & Recoveries
- Are carried out in compliance with the bank policies / standards, and with due recognition of the regulatory guidelines within the country and all relevant risk type framework.
- Uphold the principles of Treating Customers Fairly (TCF) during customer interaction.
- Maintain the highest standards of vendor governance
- Awareness and understanding of the wider business, economic and market environment in which the Group operates
- To ensure successful Recoveries with the objective of minimizing Net Credit Loss.
- To ensure that effective Legal measures are taken against Delinquent Customers to safeguard the interest of the Bank.
- To ensure that Collections processes are compliant and delivered as per the internal service level agreements and agreed timelines.
- Managing and implementing optimum and cost-effective vendors as per requirements.
- Understanding of collection procedures and processes and legal implications and processes of NPA\xe2\x80\x99s
- Mortgage Field Collections
- Negotiate & collect overdue amount from delinquent customers
- Ensure amounts collected from the customer are deposited in the branch within the specified timeline
- Ensure feedback from collection activity is properly updated in CACS
- Adherence to Code of Conduct at all times.
- Timely reporting of service issues to the supervisor
- Follow all related procedures/documentation wherever applicable
- Timely completion of all training requirements \xe2\x80\x93 annual refreshers, e-learnings, product refreshers etc.
- Closure of all customer escalations within applicable TAT
- Providing feedback on delinquent accounts to National Foreclosure Manager and CLPU.
- Tracking Demand notice in time as per defined processes.
- Compilation of files as per legal requirement of initiation of action under recovery laws.
- Timely update on CACS and weekly review of the same with relevant stakeholders.
- Timely reconciliation between receipt book, deposit slip and suspense accounts
- Managing the legal bills and ensure timely payments and NDCs.
- Closure of accounts through CLPU
- To ensure compliance with policies and procedures on an ongoing basis. Any suspicious transaction to be immediately reported to the appropriate person/ team.
- Ensure that all the accounts are managed in a manner so that:
- Defined timelines are met
- Appropriate approvals are in place
- Continuous feedback given to the local Credit/Collections/CLPU teams
- Control processing cost within budget
- Ensure documentation of Foreclosure files as per checklist
- Maintain stock of property as per applicable processes
- Maintain periodic Asset verifications reports.
- Ensure timely update of records for accountholder\xe2\x80\x99s change of contact details
- Achieve targeted results through interface with internal as well as external stakeholders
- Liaison with Legal/Law Enforcing Authorities for speedy recovery process
- Negotiate with seriously delinquent account holders and obtain repayments to minimize losses
- Timely closure of customer escalations and proactive reporting of trends noted
- Ability to relate to Product policies & possess credit appraisal perspective
- Ensure proper documentation of Collection related activities and updation of CACS (Computer Assisted Collection System)
- Ensure updation of database for accountholder\'s change of contact details
- Follow all ISO related procedures/documentation wherever applicable
- Build a transparent and collaborative culture.
- To work in partnership with stakeholders.
- Exercise adequate control over external service providers
- Monitor all major risk issues and concentrations. Where appropriate, direct remedial action and/or ensure adequate reporting to Risk Committees
- Promote an environment where compliance with internal control functions and the external regulatory framework is a central priority of the business
- Display exemplary conduct and live by the Group\xe2\x80\x99s Values and Code of Conduct.
- Take personal responsibility for embedding the highest standards of ethics, including regulatory and business conduct, across Standard Chartered Bank. This includes understanding and ensuring compliance with, in letter and spirit, all applicable laws, regulations, guidelines and the Group Code of Conduct.
- Lead to achieve the outcomes set out in the Bank\xe2\x80\x99s Conduct Principles
- Effectively and collaboratively identify, escalate, mitigate and resolve risk, conduct and compliance matters.
- Policy Team
- Credit Initiation / Credit Operations
- Country Legal Team
- Compliance
- Suppliers / Vendors: Law firms
- DRT
- Chief Metropolitan Magistrate
- District Magistrate
- Local Police Station of Possession / Enforcement Agency
- External Counsel
- Judicial Authorities
- Vendor for e-auction
- The Job holder must ensure he/ she is fully aware of all the policies and procedures issued in relation to money laundering prevention. He / she must ensure compliance with these policies and procedures on an ongoing basis. Any suspicious transaction must immediately be reported to the supervising officer and must be responsible for overall awareness, adherence and implementation of the Group AML Standards and Country KYC policies. Establishing a culture and systems and controls to ensure that the businesses operate according to higher standards of regulatory and compliance practices as defined by requirements including local banking laws and anti-money laundering guidelines as part of developing a culture of good compliance
- Graduate with over 4-6 years of experience in Secured Lending Collection activity with a minimum of over 4 years / Foreclosure activities (SARFAESI proceedings).
- Recovery laws and procedures applicable/DRT/SARFAESI/CIVIL and other Courts.
- Previous experience of interaction with Solicitors, Advocates, Lawyers and Judicial authorities.
- Understanding of customer profile through scrutiny of customers file and related collateral.
- Excel knowledge
- Presentation skills
Our purpose, to drive commerce and prosperity through our unique diversity, together with our brand promise, to be here for good are achieved by how we each live our valued behaviours. When you work with us, you\'ll see how we value difference and advocate inclusion. Together we:
- Do the right thing and are assertive, challenge one another, and live with integrity, while putting the client at the heart of what we do
- Never settle, continuously striving to improve and innovate, keeping things simple and learning from doing well, and not so well
- Be better together, we can be ourselves, be inclusive, see more good in others, and work collectively to build for the long term
- Core bank funding for retirement savings, medical and life insurance, with flexible and voluntary benefits available in some locations
- Time-off including annual, parental/maternity (20 weeks), sabbatical (12 weeks maximum) and volunteering leave (3 days), along with minimum global standards for annual and public holiday, which is combined to 30 days minimum
- Flexible working options based around home and office locations, with flexible working patterns
- Proactive wellbeing support through Unmind, a market-leading digital wellbeing platform, development courses for resilience and other human skills, global Employee Assistance Programme, sick leave, mental health first-aiders and all sorts of self-help toolkits
- A continuous learning culture to support your growth, with opportunities to reskill and upskill and access to physical, virtual and digital learning
- Being part of an inclusive and values driven organisation, one that embraces and celebrates our unique diversity, across our teams, business functions and geographies - everyone feels respected and can realise their full potential.
- Recruitment assessments - some of our roles use assessments to help us understand how suitable you are for the role you\'ve applied to. If you are invited to take an assessment, this is great news. It means your application has progressed to an important stage of our recruitment process.
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Job Detail
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Job IdJD3273531
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IndustryNot mentioned
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Total Positions1
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Job Type:Full Time
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Salary:Not mentioned
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Employment StatusPermanent
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Job LocationMumbai, Maharashtra, India
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EducationNot mentioned
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ExperienceYear