Retention and Collections Lead
Job Summary:
This role involves developing and executing effective strategies to optimize customer retention and manage collections processes from start to finish. The ideal candidate will have a strong background in retention and collections management, with a deep understanding of customer behaviour and market dynamics.
Key Responsibilities:
Build and Manage Retention/Preservation Department:
Establish and lead the retention/preservation department within Life and Funeral Operations.
Develop departmental goals, strategies, and operational plans aligned with business objectives.
Develop and Implement Collection Strategies:
Design and implement effective collection strategies to improve retention rates.
Manage collections processes, ensuring timely and efficient resolution of outstanding balances.
Data Analysis and Strategy Development:
Utilize customer data and analytics to identify trends, insights, and opportunities for improving retention.
Develop and implement churn reduction strategies based on data-driven insights and industry best practices.
Cross-functional Collaboration:
Collaborate closely with other departments (such as Customer Service, Sales, Product and Finance) to align retention strategies with overall business goals.
Communicate effectively with stakeholders to gain buy-in and support for retention initiatives.
Monitoring and Reporting:
Monitor key retention metrics and performance indicators.
Prepare regular reports and presentations on departmental performance and trends.
Continuous Improvement:
Continuously evaluate and improve retention and churn reduction strategies.
Stay abreast of industry trends and best practices in retention and collections management.
Requirements:
Matric qualification.
8 years of proven experience in a retention/collections environment, preferably within the financial services or insurance industry.
Minimum of 2 years in a leadership or managerial role, with demonstrated ability to lead and develop a team.
OR
Matric.
Relevant tertiary qualification (e.g., Business Administration, Finance) is an added advantage.
5 years of proven experience in a retention/collections environment, preferably within the financial services or insurance industry.
Minimum of 2 years in a leadership or managerial role, with demonstrated ability to lead and develop a team.
Strong understanding of customer behaviour and market dynamics in the context of retention and collections.
Excellent communication and interpersonal skills, with the ability to influence and collaborate effectively across all levels of the organisation.
Proficiency in data analysis and reporting tools.
Strong project management and organisational skills, with a keen attention to detail.
Preferred Skills:
Familiarity with regulatory requirements related to collections processes.
Knowledge of funeral insurance products and services is advantageous.
Benefits:
Opportunity to lead and shape a newly established department.
Career growth and development opportunities within a dynamic and growing organization.
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