Spandana Sphoorti Sales Jobs in Patna

collection officer

Company : Spandana sphoorti

Category : Sales

The Loan Collection Officer is tasked with contacting borrowers to recover overdue loan payments, negotiating repayment plans, and resolving disputes. They play a key role in minimizing delinquent accounts and reducing financial risk for the organization.

Key Responsibilities:

1. Debt Recovery:

   • Contact borrowers via phone, email, or in-person visits to remind them of overdue payments.
   • Negotiate repayment plans, settlements, or extensions based on the borrower’s financial situation.

2. Account Monitoring:

   • Review and analyze overdue accounts to determine the best course of action for recovery.
   • Keep detailed records of communications, agreements, and payment progress.

3. Dispute Resolution:

   • Address borrower queries and disputes regarding loan terms or repayment.
   • Work with legal or compliance teams to resolve complex cases.

4. Field Visits (if applicable):

   • Conduct field visits to borrowers’ locations when necessary to facilitate repayment or understand financial difficulties.

5. Reporting and Documentation:

   • Prepare and submit regular reports on recovery performance, challenges, and trends.
   • Ensure all actions and communications comply with company policies and local regulations.

6. Legal Coordination:

   • Initiate legal proceedings or work with legal teams for severely delinquent accounts, if necessary.
   • Ensure adherence to fair debt collection practices and laws.

7. Customer Relationship Management:

   • Maintain a professional and respectful approach to borrowers while recovering dues.
   • Provide guidance on financial management to help borrowers avoid future delinquencies.

Qualifications:

• Education:

  • High school diploma or equivalent (Bachelor’s degree in finance, business, or related field is a plus).

• Experience:

  • Prior experience in collections, loan recovery, or customer service is preferred.

Skills:

1. Communication Skills:

   • Strong verbal and written communication for effective interaction with borrowers.
   • Ability to handle difficult conversations with professionalism.

2. Negotiation Skills:

   • Skilled in negotiating repayment terms and settlements.

3. Analytical Skills:

   • Ability to analyze account histories and assess borrower financial conditions.

4. Organizational Skills:

   • Manage multiple accounts and maintain accurate records of all interactions.

5. Legal and Regulatory Knowledge:

   • Familiarity with debt collection laws and fair practices.

6. Interpersonal Skills:

   • Empathy and patience to build rapport with borrowers while maintaining focus on recovery goals.

Key Metrics:

• Percentage of overdue loans recovered.
• Number of accounts resolved or closed.
• Adherence to compliance and legal standards.
• Customer satisfaction or feedback scores.

Work Environment:

• Office-based with potential fieldwork or travel for in-person recovery.
• May include irregular hours depending on borrower availability or deadlines.