Area Debt Manager-Unsecured loans/Ahmedabad

Job Description:

1. Manage Unsecured Loan Recovery Process:

   • Develop and implement effective recovery strategies for unsecured loans, including personal loans, credit cards, and other non-collateralized debts.
   • Identify and prioritize delinquent accounts and create action plans to recover dues in a timely manner.

2. Team Leadership & Management:

   • Lead and manage a team of recovery officers and executives.
   • Assign and monitor recovery targets for team members.
   • Train and mentor the team to improve collection techniques and negotiation skills.

3. Negotiations & Settlements:

   • Directly handle high-value and sensitive accounts.
   • Negotiate settlements with defaulters where possible and ensure legal action is taken in cases of non-payment.
   • Maintain detailed records of all settlements, legal actions, and communications.

4. Risk Assessment & Analysis:

   • Continuously monitor and evaluate the portfolio to identify high-risk accounts.
   • Collaborate with the risk management team to develop strategies for minimizing risk on unsecured loans.

5. Compliance & Regulatory Adherence:

   • Ensure recovery efforts comply with all relevant regulations and laws (e.g., Fair Debt Collection Practices Act, RBI guidelines in India).
   • Stay updated on regulatory changes and ensure the team adheres to legal frameworks.

6. Customer Relationship Management:

   • Ensure professional and empathetic communication with customers during the recovery process.
   • Address customer grievances and resolve issues efficiently.

7. Reporting & Analytics:

   • Prepare regular reports on recovery progress, delinquency rates, and recovery rates.
   • Provide management with data-driven insights and suggest improvements to recovery processes.

8. Collaboration with Legal Teams:

   • Work closely with the legal department to initiate litigation when necessary.
   • Coordinate with external agencies or recovery agents if required.

9. Performance Monitoring:

   • Analyze recovery performance metrics, including cash collection, non-performing assets (NPA) ratios, and delinquency levels.
   • Implement corrective actions as needed to achieve recovery targets.

10. Budget Management:

• Manage the department’s budget for legal expenses, external agencies, and other recovery-related costs.
• Ensure recovery efforts are cost-effective while maximizing returns.