R 40000 - R 43000 Monthly Cost To Company
Recoveries Manager - Financial / Home Loan Industry - Durban Job Purpose:
Managing the Recoveries team to ensure that the desired targets are achieved and maintained, and relevant legal processes are finalized within the prescribed time limits. Monitor Properties in Possession, Recovery of shortfall matters/losses (Recoverable - & Bad Debt), Sell Assist & Private offers with losses, Recovery of Quick Cash, Recovery of Personal loan arrears & monitor outsourced collection of 3rd Parties so as to expertly and cost effectively reduce losses and increase cash flow whilst reducing the Bad Debt provisions. Ensuring company adherence/compliance to relevant legislation including company/shareholders policies and processes.
Alignment to business driver/strategy
Low-cost service and origination: providing a quick and efficient service in the department. Improved productivity and business efficiencies. Alignment to the philosophy and delivery of amazing service. To proactively contribute to the profitability of the company by effectively managing the consultants so as to minimize losses and costs and maximize cash flow and/or best market related offers for Properties in Possession & Sell Assist.
Key Responsibilities
A. Ensure that the collection targets and/or goals in terms of the Recoveries Team are achieved and maintained. Monitor the consultants to ensure that the team achieves all targets set by follow up of individual performance targets.Supervise the individuals closely/daily for non - performance regarding target achievement. Motivate team for achievement of targets.Sign off all client arrangements in line with mandates set by the company.Manage and lead a team of consultants to achieve agreed targets or goals.Identify and Implement Key Performance Factors for the team, which must be measurable.Adherence to internal processes and accuracyEnsure policies & processes are constantly updatedB. Effectively manage the PIP portfolio.
Ensure that offers are market related and that the properties are sold in less than 250 days from the date of buy in.The holding costs of PIP's with regards to maintenance costs and guard fees must be minimized.If the property is occupied and the company is unable to sell in this state, then eviction proceedings must be instituted.Ensure that legal fees are minimized, as per SLA. Must not offer the Estate Agents anything more than 5%+VAT commission. Properties to be marketed on Private Property website.C. Effectively manage the Recoverable Bad Debt portfolio Focus on increasing cash flow and minimizing legal fees. Must ensure that if all the steps in the recovery process have been adhered to and there is no cashflow or prospects of cash flow within 4 months of handover then the accounts must be written off to Bad Debt.D. Effectively manage the Bad Debt portfolio Focus on increasing cash flow. Ensure that all steps in the recovery process have been adhered to.E. Effectively manage Sell Assist / Marketing & Private offers with shortfalls/losses Ensure quick turnaround times for Sell Assist properties, Marketing instructions & offers received with shortfalls. Ensure valuations are updated and correct. Check loss calculations & motivations are correct.F. Effectively manage the Quick Cash portfolio Focus on increasing cash flow and minimizing legal fees. Adopt a stringent approach with regards to the recovery process.To proceed with legal action immediately, if client does not settle the arrears or defaults on an arrangement.Once Judgment is obtained and there is no prospects of cashflow, the balance should be written off to bad debt and review hand over to outsourced collection company (if applicable).G. Effectively manage the recovery of Personal Loan arrear accounts Focus on increasing cash flow and minimizing legal fees.Adopt a stringent approach with regards to the recovery process.To proceed with legal action immediately, if client does not settle the arrears or defaults on an arrangement.Once Judgment is obtained and there is no prospects of cashflow, the balance should be written off to bad debt and review hand over to outsourced collection company (if applicable).H. People Management and leadership Coach staff to achieve 100% technical and non-technical competencies as required by the jobSupervise staff for optimum results and productivity.Communicate effectively and provide regular feedback on performance and behavior to management100 % Adherence to all company policies and procedures. Consistent application of all policies and proceduresSet clear expectations for the team. Ensure staff are trained or implement training for growth areas.Regular team meetings, management meetings & one on one sessions.Lead by example: Comply with the code of ethics. No unfair discrimination, conflict of interests or unprofessional conduct.Recognize and reward fairly, regularly and creatively.Build staff morale.Play a key role in achieving and maintaining an "Employer of choice" status by supporting all people practice initiatives.I. Aligned to values and self-development Align personal values and team values to the company's culture and values.Take responsibility for your personal development and career pathing.Subscribe to the company's code of ethics.Comply with all legislation governing the organizationSupports and encourages the amazing service cultureRequirements Minimum Qualification: Matric1-year Paralegal Diploma PreferredLegal degree/ BCom degreeMinimum Experience: 2 Years of supervisory experience in the conveyancing and debt recovery sector/banking experience.Preferred Experience: More than 2 years supervisory experience in conveyancing & debt recovery sector in the home loan industryCompetencies Generic Competencies: Problem solvingTarget drivenAbility to work under pressureMethodical and organizedAccurate & meticulous.Technical Competencies: Conveyancing & Debt Recovery knowledgeMS OfficeStrong written & verbal communication skillsGood negotiation skills, client serviceGood knowledge of the excalibur system.
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