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For Companies At a Glance
- Tasks: Support customers in arrears and manage cases for positive outcomes.
- Company: Join a fast-growing Challenger Bank that values collaboration and customer focus.
- Benefits: Enjoy 26 days holiday, private health insurance, and a day off for your birthday!
- Why this job: Be part of a supportive culture that empowers you to make a real impact.
- Qualifications: Experience in collections or financial services is essential; strong communication skills are a must.
- Other info: Hybrid working model with 2-3 days in the office after training.
The predicted salary is between 36000 - 60000 £ per year.
Location: North Hertfordshire Hybrid 2-3 days office based after training
Salary: On Application
Hours: Monday to Friday 9 am to 5 pm
Benefits:
- 15% Contributory Pension (10% Employer, 5% Employee)
- 26 days holiday plus bank holidays, which increases with service
- Discretionary Bonus Scheme
- Income Protection Insurance
- Critical Illness Insurance
- Death in Service Insurance
- Private medical health insurance
- Digital GP 24/7
- Dental Cover
- Health Assessments
- A day off for your birthday
- Generous maternity and paternity benefits
- Paid Carers leave
- Charity Day
- Employee Assistance Programme
- Cycle2work Scheme
- Benefits Hub; large selection of employee discounts, rewards and perks across a number of brands, restaurants, holidays and "away"
About our Client:
Our client is a fast-growing Challenger Bank in a high growth phase. Their inhouse culture has been carefully cultivated to support curious minds within a collaborative workforce. Our client truly believes they are powered by their people, and they expect all staff to put customers' interests at the heart of what they do.
About the Collections Officer:
They have an exciting opportunity for an experienced Collections Officer to support the existing Loans and Collections Team with managing the portfolio. In this role, you will identify and support the Bank's customers who fall into arrears and show early warning signs of distressed debt and support the management of relevant cases on the Banks Watchlist to reach a positive outcome for the customer and the Bank.
Responsibilities of Collections Officer:
- Provide a best-in-class customer service to promote the Banks business and minimise customer complaints and expressions of dissatisfaction.
- Understand the needs of the Bank and its customers to retain business where possible by offering solutions.
- Undertake testing of the customers financial covenants by sourcing up to date customer information, highlighting any deficiencies and following the process to deal with a breach of those covenants.
- Understand the risks posed to the Bank by customers with repeat arrears and how early action can prevent losses to the Bank.
- Understand the Collections process and how losses are minimised in a recovery situation.
- Assisting with any reporting requirements which may include regulatory, daily, monthly, and quarterly reporting.
- Ensure that there is effective maintenance of the Banks customer records on appropriate systems.
- Ensure that vulnerable lending customers are identified and managed sympathetically and in line with process, ensuring that logs are accurately maintained.
- Ensure that any customer enquiries are responded within agreed timescales and that all responses are transparent and clear.
- Ensuring that there are no breaches of customer GDPR data by effective customer identification.
- Adhere to customer conduct and TCF values are adhered to at all times.
- Help ensure that appropriate control frameworks are adhered to.
Experience required for Collections Officer:
- Must have experience within collections or arrears
- Experience in financial services products. Experience in real estate loans is advantageous.
- Understanding and expertise in treating customers fairly and dealing with vulnerable customers
- Experience in dealing with Solicitors and Insolvency Practitioners
- Strong interpersonal and communication skills
- Ability to multitask, be organised and meet deadlines
- Strong attention to detail
- Able to demonstrate initiative
- Driven
Stellar Select is acting as an employment agency and is a corporate member of the REC.
Collections Officer employer: Stellar Select
Contact Detail:
Stellar Select Recruiting Team
StudySmarter Expert Advice 🤫
We think this is how you could land Collections Officer
✨Tip Number 1
Familiarise yourself with the specific collections processes and regulations in the financial services sector. Understanding how to handle arrears and distressed debt will give you a significant edge during interviews.
✨Tip Number 2
Showcase your interpersonal skills by preparing examples of how you've successfully managed customer relationships, especially in challenging situations. This is crucial for a role that focuses on treating customers fairly.
✨Tip Number 3
Research the company culture of the Challenger Bank. Highlighting your alignment with their values, such as collaboration and customer-centricity, can set you apart from other candidates.
✨Tip Number 4
Prepare to discuss your experience with financial products and any relevant case studies where you've effectively minimised losses or improved customer satisfaction. This demonstrates your practical knowledge and problem-solving abilities.
We think you need these skills to ace Collections Officer
Some tips for your application 🫡
Understand the Role: Before applying, make sure you fully understand the responsibilities and requirements of the Collections Officer position. Tailor your application to highlight relevant experience in collections or arrears, as well as your understanding of financial services.
Craft a Strong CV: Your CV should clearly outline your experience in collections, particularly any work with vulnerable customers or financial products. Use specific examples to demonstrate your skills in communication, organisation, and attention to detail.
Write a Compelling Cover Letter: In your cover letter, express your enthusiasm for the role and the company. Highlight how your values align with the bank's commitment to customer service and fairness. Mention any relevant experience that showcases your ability to handle distressed debt and support customers effectively.
Proofread Your Application: Before submitting your application, take the time to proofread all documents. Check for spelling and grammatical errors, and ensure that your information is clear and concise. A polished application reflects your attention to detail and professionalism.
How to prepare for a job interview at Stellar Select
✨Understand the Collections Process
Make sure you have a solid grasp of the collections process and how it minimises losses. Be prepared to discuss your previous experiences in managing arrears and how you approached similar situations.
✨Show Empathy and Understanding
Since the role involves dealing with vulnerable customers, demonstrate your ability to treat customers fairly. Share examples of how you've handled sensitive situations in the past, showcasing your interpersonal skills.
✨Research the Company Culture
Familiarise yourself with the company's values and culture. Highlight how your personal values align with theirs, especially their focus on customer-centric service and collaboration within the team.
✨Prepare for Scenario-Based Questions
Expect scenario-based questions that assess your problem-solving skills. Think of specific instances where you identified issues early and took proactive steps to resolve them, particularly in financial contexts.
