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Job Description
- The Collection Agency Officer is responsible for managing a portfolio of delinquent accounts, negotiating repayment terms with debtors, and ensuring compliance with regulatory requirements. They play a critical role in maximizing debt recovery while maintaining positive relationships with debtors and clients.
Responsibilities
- Follow up with external agencies, manage them remotely, review their daily DCR, monitor their visits and calls, and handle customer complaints from their side.
- Contact debtors via phone, email, or mail to negotiate repayment plans and resolve outstanding debts.
- Educate debtors on their rights and responsibilities regarding debt repayment and support them in understanding their financial obligations.
- Document all communications with debtors accurately and maintain detailed records of payment arrangements and collection efforts.
- Analyse financial statements, credit reports, and other relevant documents to assess debtors' ability to repay.
- Collaborate with internal departments (including legal and compliance) to escalate accounts for legal action when necessary and ensure regulatory compliance.
- Prepare and send collection letters, statements, and notices to debtors in line with company policies.
- Stay up to date with industry best practices, regulatory changes, and emerging trends in debt collection.
- Provide regular updates to management on account status, collection efforts, and recovery rates.
Job Requirements
- Bachelor’s degree.
- 2–4 years of relevant working experience.
- Solid understanding of the collection process and dynamics.
- Strong commitment to excellent customer service.
- Excellent written and verbal communication skills.
- Ability to work effectively in a fast-paced environment.
