Job Description
Recovery and Collection Executive
Location: Colombo 07 | On-site
Remuneration: Paid According to the market standard Working Hours - 07.00 AM to 03.30 PM on weekdays Holiday Calendar - Australian Calendar
Job Summary:
The Recovery and Collection Executive is responsible for managing and executing the recovery and collection process for outstanding debts owed to the company. This role involves interacting with clients to collect overdue payments, negotiating payment plans, and ensuring compliance with company policies and regulations. The goal is to minimize bad debts and improve the company's cash flow.
Key Responsibilities:
- Debt Collection
- Contact customers via phone, email, and mail to collect outstanding payments. Negotiate payment plans and settlements with customers to secure debt recovery. Follow up on overdue invoices and payments according to the company's collection policies
- Account Management:
- Maintain accurate records of all collection activities and customer interactions.
- Update customer accounts and ensure all financial records are accurate and up to date.
- Identify and escalate problematic accounts to senior management or legal team as necessary.
- Reporting:
- Prepare and present regular reports on collection activities, outstanding debts, and recovery status. Analyze and report on trends in debt recovery to identify areas for improvement.
- Customer Relations:
- Handle customer inquiries and disputes professionally and efficiently.
- Provide exceptional customer service and build positive relationships with customers to facilitate debt recovery.
- Compliance and Legal:
- Ensure compliance with all relevant laws, regulations, and company policies in the recovery and collection process. Coordinate with legal department for escalated cases requiring legal action.
- Process Improvement:
- Participate in the development and implementation of strategies to improve the efficiency and effectiveness of the collection process. Recommend improvements to collection policies and procedures based on industry best practices and analysis of collection data.
- Strong negotiation and communication skills.
- Excellent organizational and time management skills.
- Proficiency in Microsoft Office Suite (Excel, Word, Outlook).
- Familiarity with accounting software and CRM systems.
- Ability to handle difficult conversations and maintain professionalism under pressure.
- Strong analytical skills and attention to detail.
- Results-driven with a focus on achieving collection targets.
- Ability to work independently and as part of a team.
- High level of integrity and ethical standards.
- Problem-solving skills and ability to think strategically.
Qualifications:
Education: Bachelor's degree in Finance, Accounting, Business Administration, or related field.
Experience: Minimum of 2-3 years of experience in debt recovery and collections, preferably within the finance industry.
Skills:
Key Competencies:
Application Process:
If you believe you're the perfect fit for this role, don't hesitate to showcase your experience! Send us a comprehensive resume highlighting your relevant expertise and include contact details of 2 non-related referees. Email it all to [email protected]
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