The Collections Officer manages the collection activities for the outstanding past due retail loan accounts to ensure that the past due loans portfolio and the delinquency rates are at a manageable level.
Responsibilties
- Manages the collection and remedial activities for delinquent Auto, Housing, and Wholesale loan accounts that are in past due status but not under IL (items in litigation)
- Reviews, endorses, or approves proposals for waivers of penalties, repayment plans, endorsement to filing unit, and deferment of legal action based on delegated authority and limit
- Approves monetary transactions such as payment processing, referral of job order to service providers, and debit/credit advice, based on delegated authority and limit
- Authorizes payment processing on accounting tickets, such as payment to 3rd party agencies and service providers.
- Approves non-monetary transactions such as file maintenance requests based on delegated authority and limit to update account records
- Reviews and signs external documents such as final demand letter, certifications, and statements of account
- Prepares, updates, where applicable, spiels used by collection assistants
- Ensures that collectors productivity is at optimum level through, among others, adequate training, use of prescribed spiels, acquisition of requisite skills, and monitoring that collectors have minimal downtime.
- Leads the negotiation for complex transactions – communicates with clients via communication platforms authorized by the Bank such as e-mail, phone, Webex, or Viber.
- Reviews and endorses restructuring proposals for presentation to the Credit Committee
- Creates documents of approved loan modification requests, such as loan term extensions, and payment arrangement programs via DocuSign.
- Signs loan amendment agreements for restructured accounts based on delegated authority and approval limits
- Endorses and/ or approves the files (pre-due notices, missed due notices) for uploading to the bank's SMS/email platforms for sending of bulk collection notices.
- Ensures that inquiries and other service requests are properly attended to through timely monitoring and review of transactions/ reports
- Creates, reviews and re-assigns cases of service requests.
- Approves the endorsement of account for filing for appropriate legal action. Accesses and prints documents available in the Bank's imaging/document archival system
- Prepares and analyzes reports to provide Senior Management with insights on delinquency trends
- Views loan application records in the loan origination system to support collection activities
- Views customers loan credit records, other court cases and negative data which will be used in evaluation of loan related requests.
- Views loan booking history and credit facility to support collection activities
- Views customers bank relationship which includes but not limited to; loan balances, deposit balances, and related products with the bank
- Requests and/or approves debit request in collection system
- Approves HR related concerns of the team (unit level)
- Performs other duties that may be assigned from time to time
Qualifications
- Graduate of any 4 year Bachelor's/College Degree, preferably related to Business, Banking or Finance
- With extensive experience in handling collection-related job and supervising people, service sales, or agency management
- Knowledge in bank products such as loans, insurance, and deposits.
- Strong leadership and people management skills, strategic and analytical skills, numeracy, communication and negotiation skills.
