The Regional Collection Manager is responsible for overseeing and managing the collection activities for unsecured loan portfolios (Personal Loans/Business Loans) within a designated region. This role involves developing and implementing collection strategies, managing collection teams, ensuring compliance with legal and regulatory guidelines, and minimizing delinquency and loan losses.
Collection Strategy and Execution:
Develop and implement effective collection strategies to maximize recovery rates and minimize delinquency.
Monitor and analyze portfolio performance, identifying trends and potential risks.
Establish and enforce collection policies and procedures.
Utilize various collection tools and techniques, including negotiation, skip tracing, and legal action.
Set collection targets and monitor team performance against those targets.
Team Management:
Recruit, train, and manage a team of collection officers and agents.
Provide coaching, mentoring, and performance feedback to team members.
Motivate and inspire the team to achieve collection targets.
Ensure team adherence to company policies and legal guidelines.
Delinquency Management:
Monitor delinquency rates and implement strategies to reduce them.
Manage early-stage and late-stage collections, implementing appropriate recovery actions.
Handle complex and sensitive collection cases.
Work to reduce Non-Performing Assets (NPAs).
Legal and Compliance:
Ensure compliance with all relevant legal and regulatory requirements.
Work closely with legal teams to initiate legal action when necessary.
Maintain accurate and up-to-date records of collection activities.
Ensure that all collection activities adhere to ethical collection practices.
Reporting and Analysis:
Prepare and submit regular collection reports to senior management.
Analyze collection data to identify trends and areas for improvement.
Provide accurate forecasts of collection performance.
Track key performance indicators (KPIs) related to collections.
Agency Management:
Manage relationships with external collection agencies.
Monitor agency performance and ensure compliance with agreements.
Bachelor's degree in business administration, finance, or a related field.
Proven experience in collection management, preferably in the unsecured lending industry.
Strong knowledge of collection practices, legal regulations, and debt recovery procedures.
Excellent communication, negotiation, and interpersonal skills.
Strong analytical and problem-solving skills.
Ability to lead and motivate a team.
Proficiency in MS Office and collection management software.
Knowledge of local laws and regulations relating to debt collection