Collections Team Lead: Night Shift (Remote - South Africa) at Prodigy Finance

What is the Purpose of the Role?

• As the Collections Team Lead at Prodigy Finance, you will play a pivotal role in overseeing post-default collections and forbearance processes. Reporting to the Collections Operations Manager, you will lead a team of agents, driving their performance to maximise recoveries while ensuring compliance with regulatory requirements. You will collaborate with internal and external stakeholders, implementing strategies that enhance efficiency, customer experience, and business outcomes.

Key Accountabilities and Associated Activities:

• Team Leadership & Performance Management
• Provide motivation, guidance, and support to a team of collection agents.
• Monitor team and individual performance against set KPIs.
• Foster a high-performance culture through coaching, development, and role modeling.
• Conduct regular one-on-one meetings and team check-ins.
• Collections Strategy & Optimisation
• Develop and implement effective post-default collection strategies and campaigns.
• Utilise data insights to refine and optimise collection efforts.
• Ensure adherence to SLAs and compliance with all regulatory requirements.
• Stakeholder Collaboration & Process Enhancement
• Work closely with credit risk, legal, and other internal teams to refine processes.
• Engage with service providers to align on collection strategies and execution.
• Handle complex customer issues and escalate process gaps to relevant departments.

Operational Excellence & Compliance

• Maintain and update post-default collections SOPs and student FAQs.
• Ensure processes are aligned with regulatory and policy changes.
• Manage escalations and analyse root causes to drive quality improvements.

Reporting & Data Analysis

• Prepare daily, weekly, and monthly performance reports.
• Track collection rates, customer interactions, and repayment success.
• Identify trends and develop actionable insights for process improvement.

Training & Recruitment

• Support the onboarding and continuous training of collection agents.
• Ensure SOPs are rolled out in a structured and version-controlled manner.
• Assist in hiring for vacancies as needed.
• Customer Engagement & Complaint Handling
• Ensure quality and efficiency in borrower interactions.
• Negotiate favorable repayment plans with defaulted borrowers.
• Handle complaints effectively, ensuring compliance with the escalation process.

Qualifications Required:

• A relevant tertiary qualification in finance, business, or a related field.

Experience Required:

• Proven experience in post-default collections within the financial services sector.
• Experience as a people manager or team lead in a financial services or regulated environment.
• A track record of leading high-performing teams in a dynamic, target-driven setting.
• Experience in omni-channel operations, working with SLAs and performance metrics.
• Hands-on experience in driving process improvements and change initiatives.

Knowledge, Technical Competency, and Skills:

• Strong understanding of collections strategies, financial regulations, and compliance.
• Proficiency in data analytics and reporting to drive decision-making.
• Familiarity with CRM and collections management systems.
• Excellent negotiation and conflict resolution skills.
• Strong written and verbal communication abilities.
• Ability to handle high-pressure situations with sound judgment.
• Knowledge of best practices in financial services operations.

Behavioural Competencies

• Customer-centric approach with a problem-solving mindset.
• Leadership and team-building capabilities.
• Adaptability in a fast-paced, evolving environment.
• Strong analytical and strategic thinking.
• Effective collaboration and stakeholder management.
• Detail-oriented with a focus on continuous improvement.
• Proactive and self-motivated with a results-driven attitude.

Performance Drivers:

• Achievement of set KPIs for collections and team performance.
• Compliance with regulatory requirements and internal policies.
• Maximisation of post-default collections and successful repayment negotiations.
• Quality and frequency of borrower interactions.
• Effective management of team engagement, coaching, and professional development.
• Contribute to process improvements and operational efficiencies.
• Customer satisfaction scores and successful complaint resolution.