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Recovery Manager

1.00 to 5.00 Years   Patna,Other Bihar   01 Apr, 2025
KHTE Pvt Ltd Recovery Solutions
Job LocationPatna,Other Bihar
EducationNot Mentioned
SalaryNot Disclosed
IndustryBFSI
Functional AreaNot Mentioned
EmploymentTypeFull-time

Job Description

    Loan Recovery Manager is responsible for overseeing and managing the recovery of delinquent loans, ensuring the timely collection of outstanding debts while adhering to legal and regulatory requirements. The role involves working closely with clients, internal teams, and external agencies to implement effective collection strategies and minimize financial losses.Key Responsibilities:1. Loan Recovery Strategy Development:Develop and implement strategies for the recovery of delinquent loans.Establish performance goals and targets for the loan recovery process.Assess loan portfolios to identify high-risk accounts and prioritize recovery efforts.2. Collection Process Management:Monitor and manage the loan recovery process from initiation to resolution.Use various collection tools, including phone calls, emails, and legal action, when necessary.3. Client Communication:4. Legal and Regulatory Compliance:Ensure that all loan recovery practices are in compliance with applicable laws and regulations.Work closely with legal teams to initiate lawsuits, bankruptcies, or other legal remedies when required.Maintain accurate records of all interactions with borrowers for legal and reporting purposes.5. Performance Monitoring and Reporting:Track and report on recovery progress and outcomes, including metrics such as recovery rates, delinquency levels, and loss mitigation.Regularly review and update collection procedures to improve efficiency and effectiveness.Prepare and present regular reports to senior management regarding loan recovery efforts and outcomes.6.Team Leadership and Collaboration:Lead and mentor a team of loan recovery specialists to ensure optimal performance.Collaborate with other departments, including risk management, finance, and customer service, to ensure effective recovery operations.7. Risk Management:Identify potential risks in the loan recovery process and develop strategies to mitigate them.Evaluate and recommend credit policy adjustments based on recovery trends and data analysis.Qualifications:Bachelors degree in Finance, Business Administration, or related field (Masters degree preferred).Proven experience (1 years) in loan recovery, debt collection, credit management, sales management etc. Strong knowledge of financial products, lending practices, and relevant legal regulations.Excellent negotiation, communication, and interpersonal skills.Ability to analyze financial data and make sound decisions based on recovery potential.Strong leadership skills with the ability to manage and motivate a team.Proficiency in MS Office Suite and loan management software.Desired Skills:Knowledge of bankruptcy and foreclosure processes.Experience with loan servicing systems and collection software.Understanding of consumer protection laws and ethical collection practices.Work Environment:Office-based with occasional travel required for legal proceedings or client meetings.Reporting To:Head of Credit Risk or Chief Financial Officer (CFO).,

Keyskills :
Debt CollectionCredit ManagementSales ManagementFinancial ProductsNegotiationCommunicationInterpersonal SkillsLeadershipTeam ManagementMS OfficeLoan RecoveryLending PracticesLegal RegulationsFinancial Data AnalysisLoan Management Software

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