Collections Strategy Manager - Mumbai, India - Hiranandani Financial Services

Description

Responsibilities:

• Develop and execute comprehensive collections strategies to optimize the recovery process and reduce delinquency rates.
• Conduct regular projections and forecasts of collections targets based on historical data, industry trends, and business objectives.
• Utilize advanced analytics techniques to analyze collection data, identify patterns, and extract actionable insights.
• Develop and maintain effective management information systems (MIS) for the collections department, ensuring accurate and timely reporting of key metrics.
• Monitor collection performance metrics, such as roll rates, collection efficiency, and days sales outstanding (DSO), to identify areas for improvement and drive strategic initiatives.
• Collaborate with cross-functional teams, including credit, risk, and operations, to ensure alignment of collection strategies with overall business goals.
• Design and implement collection scorecards and key performance indicators (KPIs) to track and measure the effectiveness of collection efforts.
• Conduct regular reviews of collection policies and procedures, recommending enhancements and implementing best practices.
• Provide guidance and support to collection teams, offering training and coaching to enhance their performance and adherence to collection strategies.
• Collaborate with technology teams to leverage automation and data analytics tools to improve collections processes and efficiency.
• Stay up-to-date with industry trends, regulatory changes, and best practices in collections strategies and technology solutions.
• Present collection strategies, insights, and recommendations to senior management and stakeholders, ensuring clear communication of goals and progress.
• Monitor external collection agency performance, ensuring compliance with regulatory requirements and performance expectations.

Qualifications:

• Proven experience as a Collections Strategy Manager or in a similar role, preferably within the financial services industry.
• Strong expertise in collections strategies, including projections, forecasting, analytics, and MIS management.
• In-depth knowledge of collection processes, industry regulations, and best practices.
• Proficiency in data analysis and visualization tools (e.g., SQL, Excel, Tableau, Power BI) to analyze large datasets and extract meaningful insights.
• Excellent analytical and problem-solving skills, with the ability to think strategically and translate insights into actionable strategies.
• Strong project management and organizational skills, with the ability to manage multiple initiatives simultaneously.