Zonal Manager Recovery Zonal Manager Recovery with verification
General Job Responsibility
Will be responsible for managing the Hard Bucket Recovery of delinquent and non-performing loans within the region, while ensuring compliance with all applicable laws and regulations i.e. Bucket 2+
The role involves developing and implementing strategies to minimize loan losses which includes Recovery through Negotiation and Recovery through Legal.
Ensure fully utilization and execution of legal tools such as Section 14 of SARFAESI Act Orders by taking physical possession of the mortgaged property and with a successful auction in case borrower fails to pay.
To work with internal and external stakeholders to ensure successful resolution of delinquent loans to achieve recovery objectives.
Ensure coordinating with legal department for effective and timely filing of legal cases.
·Ensure compliance with all applicable laws and regulations.
· Manage a team of recovery specialists and provide guidance and support as needed.
· Travelling to all the locations within the region on required basis to review the performance of each field location.
· Ensuring smooth execution of the various strategies/drives planned by HO for day to day performance improvement. Designing ground level plans for executing the team strategies.
· Periodic monitoring of the field capacity as per the Avg. Collection Ratio (ACR)
· Recommending for initiation of appropriate legal actions in chronic default cases in the region with co-ordination with the Regional legal managers.
· Monitoring the daily productivity MIS & shared with the higher management along with the analysis for the region
Principal Accountabilities
Strategic
· To develop and implement recovery strategic plans to minimize loan losses and maximize recoveries.
· Work with internal stakeholders to identify trends and patterns in delinquent loans and implement measures to prevent further delinquencies.
· To Analyze the market trends and customer behavior to identify opportunities for improvement.
· To conduct regular assessments of delinquent loans to identify opportunities for recovery.
· Audit, review, strategies & practices
Tactical
· To Monitor the performance of the collection team and identify areas for improvement.
· To ensure successful property auction by coordinating with marking team, local dealers, property websites to search prospect bidders.
· To develop strategies and tactics to improve the performance of the team and achieve the targeted numbers.
· To manage escalations from customers and resolve any issues in a timely manner.
· To analyze data and reports to track the performance of the team and identify trends.
· Develop and implement workout plans for delinquent loans, including negotiating with borrowers and managing legal proceedings.
· Work with external agencies such as collection agencies, legal attorneys, to recover loans.
· Coordinate with internal stakeholders such as litigation team, and finance teams to ensure successful resolution of delinquent loans.
· Monitor and report on the status of delinquent loans, recovery activities, and trends.
Supervisory
· Manage a team of recovery managers and provide guidance and support as needed.
· Ensure the team is meeting established targets and objectives.
· Conduct regular performance evaluations and provide coaching and training as needed.
· Collaborate with other departments within the organization to ensure effective communication and coordination of recovery activities.
· To develop and implement training programs to improve the skills and knowledge of the team.
Person Profile
Educational Qualification
· Any Graduate/MBA/PGDM Finance/LLB
Experience
Minimum of 15 years of experience in loan recovery management, with a focus on Affordable Housing Loans
Experience of managing West region/locations (Maharashtra, Gujarat, MPCG and Rajasthan)
Specific Skills
Languages know Marathi (must), Gujarati, Hindi and English (as per region requirement)
Bachelor's degree in business administration, finance, Law or related field
Strong knowledge of loan servicing and collection laws and regulation
Excellent negotiation and communication skill
Ability to analyze data and identify trends.
Experience managing a team of recovery specialists.
Ability to work independently and manage multiple priorities effectively
Proficiency in Microsoft Office Suite and Loan servicing software
Legal Fundamentals