Credit & Collection Manager
KUWAIT AUTOMOTIVE IMPORTS CO.
Total years of experience :17 years, 5 Months
1. Responsible for the overall management of the Credit & Collection functions in close coordination with the Sr. Manager - Credit & Legal.
2. Periodical review of the receivables from Trade & Rental debtors to analyze the ageing and identify accounts which require special attention.
3. Control & Manage the team of Collectors to optimize their efficiency and improve collections.
4. Visit customers on a need basis to expedite payments and resolve any related issues.
5. Review and approve In-house finance applications in accordance with the guidelines established by Divisional Manager (exceptional cases to be discussed with divisional manager for approval).
6. Track the monthly collections from PN customers to ensure timely payment of installments.
7. Monitor & Engage with the PN Collection follow-up team to ensure that customers are reminded about their installment commitments ahead of time.
8. Prepare periodic reports for review by Divisional Manager and Management, on all collections and any critical accounts that need to be reconsidered for continuation of business.
9. Study and understand the current process of submitting invoices to the governmental departments (Leasing, Tyres & Lubricants).
10. Personally visit the various ministries to establish contact with key personnel who are responsible for payments, in order to expedite the processing time.
11. Prepare and submit a monthly report on ministries receivables for management review, and highlight any key collection related concerns on specific contracts.
12. Assist the Divisional Manager on any other issues related to the Credit & Collection functions.
13. Perform any other tasks as and when advised by Management.
Monitor daily operations to ensure a free flow process, and also supervise the execution of daily tasks
Develop and enforce sound policies and structures for the growth of the company
Create a strong workforce by developing competent individuals in the banking operations team
Oversee the processing of centralized loans and other banking activities to ensure due process, accuracy and accountability are followed
Create and implement long term business plan to ensure continuity of business operations in the long run
Ensure client data is protected from the public and secured against fraud by enforcing access rights and verification levels
Develop financial back up plans to protect business operations in the event of major crises that could result in huge losses
Collaborate with heads of other units to develop best practices for successful banking operations
Delegate tasks to members of the operations team.
- Identify potential customers through databases, follow up leads and telephone/personal contacts etc.
- To sell Personal finance products to the specified target customers/segments and meet monthly sales targets.
- Opening accounts
- Selling Loans
- Selling Credit Cards & prepaid Cards
- Issuing standing orders
- Issuing salary transfer cretificates
- issuing liabilities certificates
- issuing Clearance certificates
- closing accounts
- Create Fixed Deposites
- identify the segment for each customer
-Balance currency, coin, and checks in cash drawers at ends of shifts, and calculate daily transactions using computers, calculators, or adding machines.
-Cash checks and pay out money after verifying that signatures are correct, that written and numerical amounts agree, and that accounts have sufficient funds.
- Receive checks and cash for deposit, verify amounts, and check accuracy of deposit slips.
- Examine checks for endorsements and to verify other information such as dates, bank names, identification of the persons receiving payments and the legality of the documents.
- Enter customers' transactions into computers in order to record transactions and issue computer-generated receipts.
- Identify transaction mistakes when debits and credits do not balance.
- Prepare and verify cashier's checks.
-Arrange monies received in cash boxes and coin dispensers according to denomination.
-Process transactions such as term deposits, retirement savings plan contributions, automated teller transactions, night deposits, and mail deposits.
- Receive mortgage, loan, or public utility bill payments, verifying payment dates and amounts due
- Resolve problems or discrepancies concerning customers' accounts.
-Perform clerical tasks such as typing, filing, and microfilm photography
- Monitor bank vaults to ensure cash balances are correct.
-Order a supply of cash to meet daily needs.
-Sort and file deposit slips and checks.
-Receive and count daily inventories of cash, drafts, and travelers' checks.
-Process and maintain records of customer loans.
-Carry out special services for customers, such as ordering bank cards and checks.
-Compute financial fees, interest, and service charges.
-Inform customers about foreign currency regulations, and compute transaction fees for currency exchanges.
-Quote unit exchange rates, following daily international rate sheets or computer displays.