Officer - Collection Operations (225-925)

The Officer - Collection Operations is responsible for the oversight and management of collection processes within the organization. This position involves strategizing and implementing effective collection policies to minimize overdue debts, improve the cash flow and maintain positive relationships with clients or customers. As a key player in the Collections Department, the officer will focus on reducing delinquency and enhancing the organization's overall financial performance. The ideal candidate will possess strong analytical skills, excellent communication abilities, and a firm understanding of legal and financial requirements related to debt collection. They will work closely with other departments to coordinate efforts and ensure that collections are managed efficiently and ethically, providing timely reports and updates to senior management.

Responsibilities

• Develop and implement collection strategies to minimize overdue debts effectively.
• Analyze collection processes, identify areas of improvement, and recommend solutions.
• Manage sensitive client or customer interactions with professionalism and tact.
• Coordinate with accounting and legal departments on collections-related matters.
• Monitor customer accounts regularly to detect and address potential delinquency issues.
• Ensure compliance with industry regulations and company policies in all collection activities.
• Prepare and present detailed collection reports to senior management promptly.
• Maintain records and databases related to collections accurately and efficiently.
• Train and supervise junior staff in the collection operations team as needed.
• Work with the finance team to forecast collection trends and cash flow projections.
• Negotiate payment plans and settlements within provided guidelines to recover overdue amounts.
• Liaise with external agencies or partners for collection-related collaborations or issues.

Requirements

• Bachelor’s degree in Finance, Business Administration, or related field preferred.
• Minimum of three years' experience in collections or financial operations required.
• Proven track record of successfully managing collections and reducing delinquency.
• Strong understanding of financial regulations and legal implications in collections.
• Exceptional communication and negotiation skills with a variety of stakeholders.
• Ability to analyze large datasets and apply findings to improve processes.
• Proficiency in collection management software and Microsoft Office Suite.