Debt Manager - Personal Loan Collections

About the Role

The Collections Manager will oversee and drive the collections operations for personal loans at the bank. This role includes managing agencies within a designated territory to optimize EMI recoveries while ensuring compliance with bank policies. The position plays a key role in enhancing portfolio quality and aligning with the bank's strategic goals.

Primary Responsibilities

• Handle the complete debt collections process for assigned accounts.
• Monitor portfolio buckets regularly based on delinquency segments within the assigned area.
• Manage delinquency rates bucket-wise and days-past-due (DPD) wise, focusing on accounts with non-starter status.
• Assign and meet recovery targets for collection agencies or in-house teams.
• Engage continuously with delinquent customers to secure repayments.
• Ensure strict adherence to collection protocols and legal standards.
• Locate absconding default customers and activate recovery efforts.
• Advocate legal interventions for unrecoverable debts and co-ordinate with legal teams until resolution.
• Keep comprehensive records including delinquent account histories and generate MIS reports.
• Evaluate collection results on a daily, weekly, and monthly basis to identify trends and improvements.

Secondary Responsibilities

• Propose process enhancements to increase service quality and operational efficiency.
• Advise on policy and procedural adjustments within Retail Banking to elevate efficiency and customer experience.
• Collaborate internally to leverage synergies across various bank departments.

Education & Experience

• Graduate or postgraduate degree in any discipline.
• At least 2 years of experience in collections management.

Required Skills and Attributes

• Deep knowledge of collections workflows and legal frameworks.
• Strong communication and negotiation capabilities.
• Leadership skills to motivate teams and external agencies.
• Proficiency in maintaining MIS and administrative documentation.
• Analytical aptitude with keen attention to detail.
• Resistance to work pressure and capability to achieve aggressive targets.