Collection and Recovery Manager

Job Responsibilities

• Lead and manage the collections team to ensure timely recovery of outstanding hire purchase payments and minimize overdue accounts
• Develop, implement, and monitor effective collection strategies, including payment reminders, customer follow-ups, negotiations, and legal actions when necessary
• Identify high-risk accounts early and implement tailored action plans to recover debts while maintaining customer relationships
• Analyse collection performance data to identify trends, improve processes, and develop strategies to enhance recovery rates
• Collaborate closely with the credit risk and approval teams to assess customer creditworthiness and provide input on credit policies and approval criteria
• Ensure all collection activities comply with relevant legal and regulatory requirements, including fair debt collection practices
• Prepare and present regular reports to management on collection performance, outstanding balances, delinquency trends, and potential risks
• Handle escalated disputes and negotiate payment plans with customers to achieve satisfactory resolutions
• Stay updated on industry best practices, legal changes, and market trends to continuously improve the collection processes

Job Requirements

• Bachelor’s degree in Finance, Business Administration, or a related field
• Minimum of 5 years of experience in collections, credit control, or debt recovery management, preferably within the hire purchase or financial services industry
• Strong understanding of credit risk management, debt recovery strategies, and relevant legal regulations
• Proven leadership skills with the ability to motivate and manage a collections team effectively
• Excellent communication, negotiation, and interpersonal skills, with the ability to handle difficulty conversations professionally
• Analytical mindset with strong problem-solving skills and attention to detail