Collections Officer

The Collections Officer is responsible for performing loss mitigation and recovery activities regarding delinquent or charged-off accounts in accordance with Policy and legal guidelines.

Duties and Responsibilities

• Develop departmental policies and procedures for Collections accounts.

• Develop performance appraisals for Credit Assistant.

• Develop workflows to effectively manage the collections efforts.

• Prepare weekly, monthly and quarterly departmental reports.

• Present quarterly reports to Board Sub-Committees.

• Resolve customer issues and complaints.

• Assign delinquent accounts to third parties for further collection.

• Liaise with external collectors i.e. Bailiffs and attorneys.

• Monitor incoming and outgoing communications within the department.

• Prepare and submit accurate arrears letters to clients.

• Attend Court on Capita’s behalf.

• Swear affidavits on Capita’s behalf.

• Issue Bailiff orders.

• Assign accounts to Attorneys.

• Respond to correspondence from clients/service providers.

• Review list of repossessed vehicles/properties.

• Perform site visits to assess repossessed properties and show to potential purchasers or Real Estate agents.

• Perform site visits to view repossessed vehicles.

• Liaise with persons managing storage facilities for repossessed vehicles.

• Recommend necessary maintenance to repossessed properties or vehicles.

• Review proposals for restructure and make recommendations for same.

• Review and monitor classified debt.

• Review and monitor Non-Accrual debt.

• Report on Collections matters to the ALM & CPC.

• Represent the Collections matters at required meetings.

• Produce Balanced Scorecard reports as a means to providing a monthly snapshot on collections performance.

• Supervise and assign target to the Credit Assistant on collections related matters.

• Prepare memoranda for the Branch Officer review/ approval prior to recommending and forwarding to the President & CEO for approval.

• Make recommendations to the branch delinquency management plan.

• Notify customers of overdue payments and accounts by telephone, mail and other appropriate channels and continue notification process if a reply is not received with a view to establishing and implementing a payment plan to repay arrears.

• Resolve Collections issues by making payment arrangements by telephone and in person if necessary.

• Trace and locate clients through references, employers, neighbours, relatives to obtain information including perusing public notices for information.

• Monitor customer payment arrangements.

• Any other duties ancillary or related to the foregoing.

Qualifications and Experience

• A degree in Business Management or related area and two (2) years’ experience in underwriting or collections in a financial services environment.

OR

• An Associates Degree or related area and four (4) years relevant experience.

Knowledge/Skills and Abilities

• Outgoing, personable and proactive focus to facilitate effective collections.
• Desire to win, results-oriented and strong work ethic.
• Strong communication, organisational, analytical and interpersonal skills required.
• Proven adaptability, use of initiative and ability to work under pressure.
• Team player skills
• Problem solving skills
• Strong analytical skills
• Proven ability to assimilate information from a variety of sources.
• Innovative and results oriented.
• Strong interpersonal skills.
• Ability to work independently and successfully apply professional judgment.
• Excellent time management capabilities.
• High level of confidentiality
• People sensitive, target focused, self-motivated and driven.
• Team oriented
• Creative problem solver
• Ability to overcome obstacles
• Meticulous tendencies
• Considerable tact and diplomacy to maintain supportive and co-operative relations.
• Skilled negotiator

Working Conditions

• Working conditions are normal for an office environment.
• Will require officer to be mobile to conduct site visits
• Work will require occasional weekends and/or evening work

 Contacts

• Clients
• Bailiffs
• Attorneys
• Board Sub-Committees
• Board of Directors
• Internal and External Audit teams
• Assurance Functions
• Government Agencies
• Appraisers/Valuers
• Real Estate Agents