Collections Manager at Discovery Limited

Key Purpose 

• The Collections Operations Manager  is responsible for ensuring that the collections functions within Discovery Bank run efficiently and effectively on a 24/7/365 basis. The incumbent is required to assist in the design and continuous improvement of both current and future business processes. This includes systems and processes that support day-to-day operations, outlining process flows, defining operating rules and policies, and assigning and monitoring operational roles and responsibilities.
•  The incumbent must keep track of performance metrics, analyse bottlenecks, and take corrective actions where required.  He/she also responsible for implementing credit and collections solutions to improve performance levels. It is important that the incumbent has a hand-on approach and gets involved in front-line work to get the job done and to gain a better understanding of the business.

Areas of responsibility may include but are not limited to.

• Manages the bank’s risk operations processes and oversees a wide range of operational activities while managing customer relationships. These will include establishing direct communication channels with applicants or borrowers (clients), identifying, and managing delinquent accounts, taking direct collections and recovery actions, issuing monthly statements, and handling escalated customer queries.
• Runs a client credit portfolio efficiently while delivering strong customer satisfaction.
• Analyses data and to find patterns that may identify credit risks in the products and escalates to the Risk Operations management team.
• Oversees and develops a plan to handle client disputes by requesting new client information via the Service Consultants/Discovery Banker. Applying discretion in line the overall policy to re-assess the credit scoring and granting and using this information as client intelligence to provide input into the credit model.
• Performs data analysis on a portfolio of client cases to identify trends and provides this intelligence as strategic input for the credit model to ensure the Bank’s credit risk is mitigated.
• Performs in-depth analysis of clients’ financial status to determine how to best intervene through education, motivation, and negotiation with the aim of getting the client in a better financial situation.
• Executes the collections and recovery strategies aligned to the overall bank strategies.
• Manages and monitors the performance of external collections agencies within SLA’s.
• Ensures that a detailed risk register with mitigation plan exists for credit ops, collections, and recoveries to mitigate operational risks.
• Monitors all daily and monthly reports for credit ops and collections performance and takes action as required.
• Creates, maintains, and enhances internal and external stakeholder relationships in order to improve overall efficiency and ensure compliance.
• Effectively leads the team and takes accountability for the continuous up-skilling of employees to ensure that current and future business demands are met.
• Develops, executes, and gives inputs into the policies, procedures and standards within collections and credits ops aligned to the regulatory framework.

Technical Skills or Knowledge

• Planning and organising.
• Problem solving.
• Judgment and decision making.
• Conflict management.
• Innovative process management.
• Client service orientation.
• Verbal and written communication.
• Financial advice.
• Income and expenditure, budgeting, financial planning, pulling bureau reports.
• Analytical and numerical.
• Basic economics.
• All related regulatory and compliance acts.

Education and Experience Required

• At least 4 to 6 years’ experience in debt management services.
• Experience in managing people.
• At least 2 years in financial planning at a senior level

Preferred

• At least 4 to 6 years in credit operations, collections and operational risk management in retail banking or financial services.
• Experience in process design and optimisation.

Required

• A bachelor’s degree with finance, accounting, economics, law, or business management.
• FAIS accredited.

Preferred

• Degree with Honours (finance, accounting, economics, law, or business management)
• NQF level 9 qualification (MBL, MBA, M Comm)