Recovery State Head
Magma Fincorp Ltd
Total years of experience :15 years, 11 Months
• Managing the 1-180 bucket delinquent portfolio of 450 accounts over 70 crores of principle outstanding for the state of Delhi and Western Uttar Pradesh.
• Managing a staff of 18 collectors and 2 team leaders.
• Analyse data of delinquent customers based on bounce rates and provide feedback to team members in order to control delinquency
• Responsible for implementing Collections strategies and fraud prevention
• Analyse monthly loan loss reports to measure portfolio performance.
• Ensuring compliance with statutory and regulatory requirements under different acts set by Reserve Bank of India
• Manage customer contact to determine intentions and abilities for the resolution of non-performing assets
• Handling a high influx of in-bound calls pertaining to the reconciliation and collection of delinquent accounts
• Utilized legal tools under Section 138, 9 and 34, Bailable and Non Bailable warrants of execution on delinquent accounts
• Investigate past due accounts to determine reasons for non-payment and recommend strategies for recovery.
• Compiling and analyzing data for monthly management Loan Loss Reports to measure portfolio performance
• Building collaborative relationships with sales and credit department regarding quality of loan sourcing and monitoring failed trades.
• To devise & recommend monthly Agency Incentives to keep agency staff motivated & target Driven.
• Perform skip trace activities utilizing internet people search and pulling credit bureaus
• Monitor and supervise the daily collection of outstanding receivables; manage collectors to optimize performance and results
• Managed 3rd party collections with an average of 450 accounts and 79 crores of principle outstanding
• Effectively managed tele calling and field collections agencies with a team of 4 Supervisors and 40 collection executives.
• Negotiating and restructuring loan re-payments and initiate legal proceeding.
• Budgeting and controlling expenses by designing payouts and incentives for agencies and executives keeping in mind the cost of collection.
• Monitoring and enhancing the performance of team members
Legal Analytics
• Preparing and implementing legal policies and maintain good relationship with the law firms.
• Cost benefits analysis of the cost incurred and the amount recovered.
• Collating PAN India legal MIS and micro level analysis of legal data.
• Coordinating with 27 law firms PAN India for allocating tasks to meet monthly collections targets
• Weekly publication of dashboards, making presentations for national risk department
Call Quality Assurance
• Determining training needs of telecallers for suitable training programs to enhance their collection efficiency leading to increased productivity.
• Screened and trained call center representatives for proper call handling and excellent customer service policies
• Prepared and documented daily log to record and maintain history of collections call per telecaller