Collection Manager

CLUSTER COLLECTION MANAGER GUJ Role Profile ZONAL COLLECTION MANAGER 05/10/2023 ROLE SPECIFICATION Role Title-- Collection Manager Employee Interviewed Reports To NATIONAL COLLECTION HEAD Company Muthoot FinCorp Ltd-SULB Function/Department COLLECTION & RECOVERY Written By Approved By (Jobholder) Approved By (Immediate Superior) Date (Written On) 05/010/203 ROLE SUMMARY Collection managers oversee the financial collection department of a company and are responsible for the correct invoicing of clients and the timely receiving of payment. ORGANIZATIONAL CHART KEY RESPONSIBILITIES Role and Responsibility Overseeing staff members and ensuring the accurate and timely invoicing of customers. Setting payment collection goals and targets for the department. Creating and implementing a strategy to improve the collection of outstanding credit. Implementing collection policies and procedures to avoid excessive outstanding credit. Ensuring that the company policy on recoveries is followed and that it is in line with state and federal regulations. Implementing deadlines for invoicing and payment collection. Negotiating with customers in cases when non-payment occurs. Preparing monthly feedback reports on payment collections. Remaining informed of any legislative procedural training regarding debt collection. Training and mentoring of staff members in the collections department. KEY INTERACTIONS Internal Stakeholders External Stakeholders Business Legal Operation Risk Field Technical Team Audit Risk, Compliance Customers Insurance Providers Regulatory Authorities Referral Sources KEY CHALLENGES Lack of current contact information. Disjoint communications. Lack of self-served solutions. Meeting compliance requirements. Lack of automation. Providing secure communications KEY SKILLS & BEHAVIOURAL ATTRIBUTES Experience with accounting software such as Quickbooks and General Ledger and advanced knowledge of MS Excel. The ability to work accurately and independently. Good verbal and written communication skills. Excellent analytical skills and an eye for detail. Outstanding leadership and managerial skills. Strong time and people management skills. Ability to work to strict deadlines. EDUCATION / EXPERIENCE Bachelor’s degree in finance, accounting, or a related field. 7-9 years’ experience as a collections manager.