A Collection/Recovery Agent is responsible for managing and recovering outstanding debts owed by clients or customers. This role involves effective communication with debtors, negotiating repayment plans, and ensuring timely collections while maintaining positive client relationships and adhering to legal guidelines.
Account Management: Monitor and manage overdue accounts to ensure timely collection. Maintain detailed records of all communications and actions taken regarding debtor accounts.
Collection Activities: Contact debtors through phone, email, or written correspondence to negotiate payment arrangements. Follow up on payment promises and take necessary steps to ensure recovery. Handle disputes and resolve issues related to overdue accounts.
Negotiation and Resolution: Develop and implement effective strategies for debt recovery.
Compliance and Reporting: Ensure compliance with all regulatory requirements and company policies. Prepare and present reports on collection activities and results.
Education: Bachelor's degree in finance or related field preferred.
Experience: Proven experience as a collection/recovery agent or similar role.
Skills:
Strong knowledge of relevant regulations and compliance standards.
Excellent communication and negotiation skills.
Ability to handle sensitive financial information with integrity.
Strong problem-solving skills and attention to detail.
IT Skills: Proficiency in MS Office and database applications.
Non-IT Skills:
Communication & Negotiation Skills: Essential for explaining financial, regulatory, and procedural matters clearly.
Analytical Skills: Important for assessing and resolving unique cases.
Professionalism: Maintaining a professional attitude at all times.
Organizational Skills: Keeping track of debtor conditions and ensuring efficient recovery processes.
Multitasking Skills: Managing multiple cases simultaneously with effective planning.