Collection Executive

Job Description

Role: Collections Executive

Location: Bengaluru

Employment Type: Full-Time

We are looking for a motivated and customer-focused Collection Executive to join our team, specializing in the recovery of overdue payments for US-based credit card accounts. The ideal candidate will have excellent communication skills, strong negotiation abilities, and a deep understanding of credit card collections, ensuring compliance with US regulations and delivering effective resolutions for delinquent accounts.

Responsibilities

Collection Activities:

• Manage assigned portfolios of delinquent US credit card accounts.
• Contact customers via phone, email, or other communication channels to recover overdue payments.
• Negotiate payment arrangements or settlements that align with company policies.

Account Management:

• Update and maintain accurate records of collection efforts and outcomes.
• Identify accounts requiring escalations or legal actions and forward them to the appropriate teams.

Regulatory Compliance:

• Ensure all collection activities adhere to US regulations, including the Fair Debt Collection Practices Act (FDCPA).
• Handle sensitive customer information in compliance with data protection standards.

Customer Service:

• Address customer queries and concerns regarding their credit card accounts professionally.
• Educate customers about repayment options and the consequences of non-payment.

Performance & Reporting:

• Meet or exceed monthly collection targets and key performance indicators (KPIs).
• Prepare regular reports on collection progress, payment trends, and account statuses.

Qualifications

Education:

• Bachelor’s Degree in Finance, Business or related field

Experience:

• 3-6 years of relevant experience of working in the collections team for consumer credit products such as Credit Card, Personal Loan, Education Loan, 2W and 4W, Home Loan, etc
• Experience in developing and enacting debt recovery plans and strategies to prevent losses

Technical Skills:

• Excellent knowledge of various collection techniques.
• Experience in developing and enacting debt recovery plans and strategies to prevent losses.
• Knowledge of MS Office, Data Interpretation, databases, and alternate mode of collections.

Soft Skills:

• Excellent communication and interpersonal skills
• Demonstrated experience of being empathetic with customers
• Problem-solving and critical-thinking skills