Role Objective

The Retail Collections Officer will follow-up / communicate with the retail defaulters of 1 to 89 days DPD cases to recover Bank's dues by adopting all possible collection means after gathering relevant information on customers as well as guarantor's resources. He will negotiate settlement plans for assigned delinquent cases, with adequate guidance from the Head of Retail Credit, Collection and BIU, within the frame work of the policies and procedures set by the Bank.

Roles & Responsibilities

• Perform all activities, as assigned by the Head of Retail Credit, Collection and BIU, in compliance with regulatory guidelines, and internal policies and procedures.
• Keep regular track of the assigned regular accounts of advances where salary assignment is discontinued and follow up with the employers and retail customers over telephone.
• Network with all entities including private companies in terms of inquiries related to documentation, discontinuation of undertaking and other formalities of accounts.
• Maintain a proper inventory of legal documents, other legal instruments and official seals in a safe custody with proper audit trial.
• Liaison with other support unit within DB for Collection operational activities and proper handling of physical documents with risk mitigation.
• Keep regular track of the assigned delinquent portfolio of advances and follow up with the retail customers over telephone and by personal contacts.
• Scrutinize documentations on the cases assigned to identify discrepancies and assist in formulating strategy based upon strength and weakness of each case.
• Collect Bank's dues from the customers in accordance with the agreed repayment schedules as per the approval and regular monitoring of the performance of his portfolio.
• Network with government and semi-government bodies in terms of inquiries related to documentation, and other formalities of accounts under settlement.
• Work closely with Customer Service and Insurance Department to resolve disputes raised by the defaulted customers, if any.
• Promptly attend to, and solve, or escalate credit customer’s complaints/queries lodged through the local branches and Call center
• Perform daily product, bucket and volume wise analysis of delinquent or paid cases to update on the new inflows, Back flows, Forward flows, Stabilized cases, Normalized and Resolved cases.
• Pay periodic visits and constant follow ups with the employing companies for enquiries on account of terminations, thereby to maximize efficient recovery plans/agreements.
• Interpret/ educate and provide information to debtors on collection policies, legal obligations and penalties on account of non-payment of debt outstanding.
• Investigate, and analyze on financial statements related to asset, and employment history in order to determine ability to pay, and terms and methods of repayment; and monitor/report on payment schedules for compliance.
• Determine and escalate repayment accounts which hasn’t been effective in terms of collections to the Team Leader – Retail Collection and/ or Head of Retail Credit, Collection and BIU, for recovery or legal action, as applicable.

Qualification & Experience Required

• University graduate with a degree in Business or Banking or Finance or any other related discipline.
• 3-5 years of experience in a similar position
• Experience in retail debt /collections in banking industry
• Should have banking systems knowledge such as core banking, cards systems, collection system
• Knowledge and understanding of the payment standing instruction details, guarantor & guarantee knowledge
• Proficiency in MS Office