National Head - Collections Time Hack Consulting

About Time Hack Consulting

Job Description

Collections Strategy Development: Develop and execute effective collection strategies to ensure that the company's loan portfolios are recovered on time. Create plans for different collection scenarios based on customer segments (e.g., new customers, high-risk customers, etc.). Team Management: Lead, mentor, and manage the collections team at a national level. This includes setting targets, evaluating team performance, and ensuring all team members are properly trained. Oversee the recruitment and training of new collections personnel. Collection Process Optimization: Continuously assess and improve collection processes to ensure efficiency, customer Implement technology solutions (like automated reminders, CRM systems, etc.) to streamline collections efforts. Risk Assessment & Mitigation: Monitor and assess the credit risk of loan portfolios and implement strategies to reduce default rates. Coordinate with the credit risk and underwriting teams to ensure appropriate risk profiles are maintained. Regulatory Compliance: Ensure all collections practices are in compliance with RBI guidelines and other regulatory standards. Stay updated on the latest regulatory changes and incorporate them into the company's operations. Customer Engagement: Handle high-risk or complex cases and oversee resolutions to ensure customer satisfaction and minimize defaults. Reporting & Analytics: Analyze data to measure collections performance, identify trends, and forecast future collection needs. Report on collection performance, write-offs, recovery rates, and other financial metrics to senior management. Collaboration with Other Teams: Work closely with risk, credit, operations, and legal teams to handle complex cases or escalate issues as required. Collaborate with product and tech teams to optimize the collection experience and integrate best practices into digital platforms. Legal & Recovery Actions: Oversee the legal recovery process, if necessary, including coordinating with external agencies, legal teams, and courts to recover debts. Manage relationships with third-party debt collection agencies when the need arises. Budgeting & Financial Forecasting: Manage the department's budget and set financial targets for collection efforts. Forecast cash flow and ensure the timely recovery of loan amounts to support business growth and profitability. ,