Description
1. Hard Collections Portfolio Management
- Manage all accounts transferred from Soft Collections and ensure immediate allocation and actioning.
- Develop and execute collection strategies for accounts in advanced delinquency stages.
- Ensure every assigned account receives the required field actions and recovery interventions before escalation.
- Maintain strict controls over account aging and recovery timelines.
- Ensure no account remains unattended, dormant, or overdue for action.
- Drive recovery outcomes through a combination of customer engagement, restructuring, partial settlement arrangements, and asset recovery initiatives.
2. Field Collections Operations
- Lead and manage field collection teams responsible for customer visits and physical account follow-up.
- Ensure timely field visits are conducted in accordance with prescribed collection strategies and service-level agreements.
- Monitor visit productivity, coverage, and effectiveness.
- Ensure field officers maintain accurate records and evidence of all collection activities.
- Establish clear performance expectations for field teams and monitor execution quality.
- Continuously optimize field deployment to maximize recovery performance while controlling operational costs.
3. Vehicle Recovery and Repossession Management
- Oversee all repossession and voluntary surrender activities.
- Ensure repossession efforts are conducted lawfully, professionally, and in accordance with company policies and applicable regulations.
- Review repossession recommendations and authorize recovery actions where appropriate.
- Ensure repossession is pursued only after all reasonable recovery and restructuring options have been exhausted.
- Monitor recovery timelines and repossession success rates.
- Coordinate secure storage, handover, and documentation of recovered assets.
- Work closely with auction, remarketing, and asset disposal teams where applicable.
4. Skip-Tracing and Asset Location Management
- Lead skip-tracing teams responsible for locating customers and financed assets.
- Develop strategies for tracing vehicles with:
- Disabled GPS units
- Non-reporting tracking devices
- Tampered tracking system
- Unknown customer locations
- Ensure all available internal and external data sources are utilized to locate customers and assets.
- Monitor tracing effectiveness and continuously improve tracing methodologies.
- Coordinate with external recovery partners and investigative resources where necessary.
5. Restructuring and Recovery Solutions
- Ensure eligible customers are offered restructuring and rehabilitation solutions where appropriate.
- Review repayment proposals and restructuring recommendations.
- Drive recovery strategies that maximize customer retention while protecting company assets.
- Balance repossession actions with commercially viable restructuring opportunities.
- Monitor restructuring performance and sustainability.
6. Escalation and Exception Management
- Resolve operational barriers that may delay recovery actions.
- Coordinate with Legal, Risk, Compliance, Operations, and Asset Management teams as required.
- Ensure high-risk, fraudulent, disputed, or sensitive accounts are escalated promptly
- Monitor unresolved escalations and ensure timely closure.
7. Team Leadership and Workforce Management
- Lead, coach, and develop Field Collection Supervisors, Recovery Officers, Repossession Agents, and Skip-Tracing Teams.
- Ensure optimal allocation of portfolios and territories.
- Monitor workload distribution and field productivity.
- Establish performance standards and accountability measures.
- Conduct regular coaching, performance reviews, and development sessions.
- Build a disciplined, results-driven, and highly accountable recovery culture.
8. Vendor and Recovery Partner Management
- Manage relationships with external repossession agents, recovery firms, investigators, auctioneers, and other service providers.
- Establish performance standards and service-level agreements.
- Monitor partner effectiveness, compliance, and recovery outcomes.
- Ensure vendors operate within approved legal and ethical standards.
- Optimize outsourced recovery costs and performance.
9. Operational Excellence and Continuous Improvement
- Continuously identify opportunities to improve recovery performance, efficiency, and cost management.
- Implement process improvements and technology enhancements.
- Develop strategies to improve field productivity and vehicle recovery success rates.
- Maintain a lean operating structure through effective resource deployment and process optimization.
- Eliminate operational bottlenecks that hinder recovery efforts.
10. Reporting and Analytics
- Maintain comprehensive portfolio and recovery performance reporting.
- Analyze recovery trends, repossession outcomes, restructuring success, and asset recovery metrics.
- Produce actionable recommendations for improving collections performance.
- Present regular performance updates to senior management.