CBS - RECOVERIES SPECIALIST

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Position Title:  Recoveries Specialist

Job Summary

• The position is responsible for managing assigned collection agencies and ensuring that flow rates, lagged and coincident delinquencies of 90-179 days past due accounts (dpd) accounts are within desired parameters, minimizing gross credit loss while maximizing recoveries from written-off accounts

Specific Duties & Responsibilities

Acquires ownership of 90+ days past due accounts or from the time these are endorsed to the assigned agency by practicing proactive agency management 

• Manages external collection agencies, ensuring that:
• Monthly Recoveries targets are met
• Flow rate and collection rate targets are met; Help monitor delinquency levels within projected standards and minimize credit losses
• Accounts under litigation are properly handled as evidenced by court case updates

Monitors strictly and efficiently collection/payment system in place 

• Manages agency inventory to ensure that endorsements are maximized
• Conducts agency visits to establish close monitoring and coordination and ensure that a visit report is submitted within the agreed turn around time
• Conducts audit to ensure that all recovery activities performed by the agency are within guidelines at all times. For any breaches, ensure these are documented and corrective and preventive actions are in place

-     Conducts a robust bi-annual Business Review for assigned collection agencies

• Results of collection efforts and payments of all accounts endorsed to the collection agencies are strictly monitored with periodic reports being transmitted to collection agencies
• Puts the use of standard discounting and factor rate tables in place to facilitate collection
• Ensures timely submission of commission schedules and requests for Cashier’s Order cheques due the collection agencies

Maximizes collection/recovery: 

• Assists customers in drawing and finalizing payment arrangements, as much as possible, with no incidence of default in payment
• Attends to walk-in clients

-     Monitors maturing PTPs of cardholders with payment arrangements by calling the cardholders and/or collection agency handling the account

-     Recommends and assists in litigation to achieve maximum collection by evaluating accounts which can potentially go into litigation

Reinforces service standards in all interactions with cardholders. Ensure that:   

• Requests for waiver/reversal of charges are acted upon immediately, after making the necessary recommendations
• Agency queries/concerns are addressed, i.e. updated account balance, new contact numbers and addresses, payment proposals
• Handles complaints received from cardholders and ensure resolution within standard TAT

5. Perform back office functions including but not limited to:  (5%)

• Prepares reversal requests for account balances of fully paid accounts;
• Endorses review, returns and tagging of accounts.
• Handles of post dated checks
• Submits various status reports

Perform other functions which may be assigned from time to time 

 Qualifications:

• Bachelor’s degree holder; preferably graduate of business course

• At least 1 year of collections experience preferably from credit card company, bank or collection agencies

• Knowledge on collection system and policies/procedures is an advantage

• Proficient in the following Microsoft applications: Word, Excel and PowerPoint

• Willing to work onsite 100%

Other Details:

Rank: Rank and File

Unit: Consumer Business Sector / Credit Operations Group / Collections and Recoveries Division

Location:  Pasay City