collection officer
Company : Akansha finance ltd
Category : Sales
The Collection Officer is responsible for contacting debtors to collect overdue payments, resolving payment discrepancies, and ensuring compliance with company policies and legal requirements. The role requires strong communication, negotiation, and problem-solving skills to achieve recovery targets.
Key Responsibilities:
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Debt Recovery:
- Contact individuals or businesses with outstanding debts via phone, email, or in-person visits.
- Negotiate repayment plans, settlements, or alternative payment arrangements.
- Monitor payment schedules and follow up on overdue payments.
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Customer Relationship Management:
- Address customer queries and concerns regarding their accounts.
- Maintain a professional and empathetic approach while handling sensitive situations.
- Ensure all customer interactions are documented and updated in the system.
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Records and Documentation:
- Maintain accurate records of communications and payment agreements.
- Update account status regularly in the company's database.
- Prepare and submit periodic reports on collection activities and results.
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Compliance:
- Adhere to company policies, legal requirements, and regulations (e.g., debt collection laws).
- Maintain confidentiality of customer information and financial data.
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Team Collaboration:
- Work closely with other departments, such as finance, legal, and customer service, to resolve disputes and improve recovery rates.
- Provide feedback to management about recurring issues or process improvements.
Required Skills and Qualifications:
- Educational Background: High school diploma or equivalent; a degree in finance, business, or related fields is a plus.
- Experience: Previous experience in collections, customer service, or a related role is preferred.
- Key Skills:
- Strong communication and negotiation skills.
- Ability to handle difficult conversations and remain composed under pressure.
- Proficiency in using financial software and CRM systems.
- Attention to detail and strong organizational skills.
- Personal Traits:
- Assertiveness and persistence.
- Empathy and ability to build trust with customers.
- Ethical and professional behavior.
Key Performance Indicators (KPIs):
- Percentage of overdue debts collected within target timelines.
- Number of successful repayment agreements negotiated.
- Customer satisfaction ratings during collection interactions.
- Compliance with company and regulatory standards.
