Collection Officer

Job Type: Retail Collection Officer – Loan Channeling

Job descriptions
The Retail Collection Officer is responsible for managing the collection of overdue payments on retail
credit products including loan channeling. The role involves direct contact with loan channeling partners
and customers to resolve outstanding debts, negotiate repayment plans, and take action to recover funds
while maintaining positive customer relationships. The Collection Officer ensures adherence to collection
policies and regulatory guidelines while minimizing the risk to the company.

Key Responsibilities:
• Debt Collection: Proactively contact loan channeling partners or customers with overdue
payments via phone, email, or written communication to discuss outstanding balances, negotiate
repayment terms, and set up payment arrangements.
• Account Management: Monitor and manage a portfolio of delinquent accounts, ensuring timely
follow-ups and keeping detailed records of all collection actions.
• Customer Interaction: Address customer queries and concerns regarding their outstanding
debts, offer payment solutions, and help guide them through the repayment process while
maintaining a professional and empathetic approach.
• Repayment Plans: Negotiate affordable payment arrangements or settlements with customers,
ensuring that they are feasible and in compliance with company policies.
• Dispute Resolution: Investigate and resolve disputes or issues raised by customers, such as
billing errors or miscommunication regarding the account.
• Legal Action Coordination: Identify cases where legal action may be necessary, and collaborate
with the legal team or external agencies to initiate the appropriate steps for recovery.
• Reporting: Prepare regular reports on collection activity, account status, and recovery results,
providing insights to senior management.
• Compliance and Regulations: Ensure compliance with relevant regulations (e.g., fair debt
collection practices, consumer protection laws) and company policies when interacting with
customers and managing accounts.
• Portfolio Risk Monitoring: Identify high-risk accounts and escalate issues when necessary to
senior collection staff or management.
• Customer Education: Provide customers with information on how to manage their accounts and
improve their credit standing, promoting financial literacy and responsible borrowing practices.

Qualifications:
• Bachelor Degree
• 1-3 years of experience in collections, customer service, or a related field, preferably within retail
banking or financial services.
• Familiarity with collection techniques, payment negotiation, and legal aspects of debt recovery.
• Strong communication and negotiation skills, with the ability to manage difficult conversations
with professionalism and empathy.
• Knowledge of consumer protection laws, debt collection regulations, and best practices in the
collection industry.
• Proficiency in Microsoft Office Suite (Excel, Word, Outlook) and collection software.
• Strong attention to detail and organizational skills with the ability to manage multiple accounts
effectively.

Desired Skills:
• Experience working with collection management or customer relationship management (CRM)
software.
• Ability to work under pressure and meet collection targets and deadlines.
• Strong problem-solving skills, with the ability to identify and implement solutions in challenging
situations