What are the responsibilities and job description for the Collection Officer - Cross River position at d.light?
Job title : Collection Officer - Cross River
Job Location : Cross River Deadline : February 04, 2025 Quick Recommended Links
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Position Description
The Collections Officer is responsible for managing loan recovery process for delinquent accounts by analyzing the customer's financial situation, contacting customers through various communication channels (phone, email, in-person, social media etc), and establishing repayment arrangements.
Roles Responsibilities
Loan Recovery Process : Initiate and manage the loan recovery process for delinquent accounts by analyzing the customer's financial situation, contacting customers through various communication channels (phone, email, in-person), and establishing repayment arrangements.
Communication and Negotiation : Engage with customers to understand their financial challenges and negotiate feasible repayment solutions, considering the customer's circumstances and d.light's policies.
Collection Activities : Conduct thorough research on customer accounts, update payment statuses, and maintain accurate records of communications and payment arrangements. Implement collection strategies to maximize loan recovery success.
Compliance and Documentation : Ensure compliance with all legal and regulatory requirements during the loan recovery process. Prepare necessary documentation related to the recovery efforts and maintain confidentiality of sensitive customer information.
Customer Service : Provide exceptional customer service to customers by addressing their queries and concerns with empathy and professionalism, helping them understand the recovery process and available options.
Reporting : Prepare regular reports on the status of recovery efforts, detailing progress, challenges, and Key Performance Indicators (KPIs) to management.
Collaboration : Collaborate with internal teams such as Sales, Supply Chain, and Customer Experience departments to resolve complex cases and identify potential risks related to loan recovery.
Continuous Improvement : Stay updated on industry best practices and trends in loan recovery and collections. Suggest process improvements and strategies to enhance recovery rates and reduce delinquency.
Requirements
Bachelor's degree in finance, business administration, or a related field.
Previous experience in loan recovery, debt collection, or a similar role within the financial services sector is preferred.
Strong understanding of lending processes, loan products, and loan documentation.
Excellent communication and negotiation skills with the ability to handle difficult conversations professionally.
Sound knowledge of relevant laws, regulations, and compliance standards related to loan recovery and debt collection.
Analytical mindset to assess customers' financial situations and develop suitable repayment plans.
Proficient in using computer applications, databases, and Customer Relationship Management (CRM) software.
Ability to work independently and collaboratively as part of a team.
Demonstrate problem-solving skills and attention to details.
Empathy and patience when dealing with customers facing financial difficulties.
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