Job Overview:
As a Recovery Manager for Banking Services, you will be responsible for developing and implementing strategies to recover outstanding debts and delinquent accounts in adherence to regulatory guidelines and organizational policies. Your primary objective will be to minimize financial losses while maintaining positive customer relationships.
Key Responsibilities:
- Develop and execute comprehensive recovery plans for delinquent accounts, focusing on timely and efficient resolution.
- Monitor and analyze delinquent accounts to identify patterns and trends, allowing for proactive intervention and mitigation of potential losses.
- Collaborate with internal stakeholders, including risk management, legal, and operations teams, to ensure alignment of recovery efforts with organizational objectives and regulatory requirements.
- Utilize various communication channels to engage with customers, including phone calls, emails, and letters, to negotiate repayment terms and resolve disputes.
- Maintain accurate records of all communication and interactions with customers, documenting payment arrangements and progress towards resolution.
- Evaluate and recommend appropriate collection strategies, considering the financial circumstances and risk profile of each customer.
- Stay updated on industry best practices and regulatory changes related to debt recovery, ensuring compliance with applicable laws and regulations.
- Provide regular reports and updates to senior management on the status of delinquent accounts and recovery efforts, highlighting key performance indicators and areas for improvement.
