Job Description

A banking collection officer's job is to recover overdue payments from customers by contacting them, negotiating payment plans, and maintaining accurate records. Key responsibilities include resolving disputes, preparing reports, ensuring compliance with financial laws, and initiating legal action if necessary. The role requires strong negotiation and communication skills, a degree in a related field like finance or accounting, and familiarity with collections software. Key responsibilities

Debt recovery:

Contact customers to discuss overdue payments and negotiate payment plans to avoid further delinquency.

Record keeping:

Maintain accurate and detailed electronic and hard-copy records of all communications, payment agreements, and transactions.

Reporting:

Monitor accounts, prepare reports on the status of outstanding debts, and submit them to senior management.

Problem resolution:

Address billing and payment discrepancies, and collaborate with other departments like accounting and legal to resolve issues.

Compliance:

Adhere to all relevant financial laws and regulations regarding debt collection.

Legal action:

Initiate legal proceedings or repossessions when payment plans fail.
Qualifications and skills

Education:

A bachelor's degree in Finance, Accounting, Business Administration, or a related field is typically required.

Experience:

Previous experience in collections, customer service, or a related role is preferred.

Skills:

Excellent negotiation and communication skills (verbal and written). Strong customer service skills. Proficiency with accounting software, databases, and CRM systems. Knowledge of collections processes, payment plans, and relevant financial regulations. Detail-oriented with strong problem-solving and time management abilities.
Job Types: Full-time, Permanent

Pay: ₹18,859.95 - ₹20,759.20 per month

Benefits:

Health insurance Provident Fund
Work Location: In person