At a Glance
- Tasks: Manage collections and recoveries for SMEs, implementing effective strategies to support customers.
- Company: Join Allica Bank, the UK's fastest-growing fintech firm dedicated to empowering small businesses.
- Benefits: Enjoy flexible working, competitive salary, private health cover, and a supportive work environment.
- Other info: Diverse team culture with opportunities for personal growth and development.
- Why this job: Make a real difference in the lives of SMEs while developing your career in a dynamic sector.
- Qualifications: Minimum 3 years in collections, with expertise in commercial mortgages or asset finance.
The predicted salary is between 50000 - 60000 € per year.
About Allica Bank
Allica is the UK's fastest growing company - and the fastest-growing financial technology (Fintech) firm ever. Our purpose is to help established SMEs, one of the last major underserved opportunities in Fintech. Established SMEs are the backbone of local communities - representing over a third of our economy - yet have been largely neglected both by traditional high street banks and modern fintech providers.
Department Description
Allica Bank exists to empower small and medium sized businesses to succeed. Through our unique combination of modern tools, local relationships and tailored expertise we deliver expert banking for business Britain. You will be joining Allica Bank as we continue building a business dedicated to serving the needs of small and medium-sized companies at what is a crucial time for the sector.
This role sits within the Lending department, initially cross functional across Commercial Mortgages (CM), Asset Finance (AF), and Growth Finance.
Role Description
To support the Head of Collections & Recoveries in managing the Bank's Commercial Mortgage, Asset Finance and Growth Finance portfolios where customers are in, or at risk of, financial difficulty. The role focuses on implementing effective collections, restructuring and recovery strategies to support customers in bringing their lending facilities up to date, while protecting the Bank's exposure. Where customers cease trading or arrears become unmanageable, the role will involve coordinating recovery activity with third parties including solicitors, Insolvency Practitioners and debt collection agencies, including the enforcement and realisation of security where appropriate. All activity must be conducted in line with internal policy, regulatory requirements and the principles of Treating Customers Fairly.
Core Responsibilities
- Managing a portfolio of accounts showing signs of deteriorating credit quality and accounts in workout/recovery by implementing a repayment or recovery strategy on both a portfolio and individual customer basis.
- In some cases, completing site visits to customers suffering difficulties/arrears, complete a review and assessment of the current position and consider an appropriate work out plan.
- Where necessary, terminating finance agreements on AF exposures and working with the Asset Manager to recover and sell assets to maximise sale proceeds.
- Keep Watchlist up to date and assist the team and Head of Collections & Recoveries with monthly report to Credit Risk meeting.
- Liaising with insolvency practitioners and collection agents, as well as instructing Solicitors where required.
- Ensure that the portfolio delinquency ageing is categorised accurately to support IFRS 9 reporting.
- Anticipate and react to regulatory or legislative changes that could affect lending; develop contingency plans and strategic responses to change.
- Ensuring that fees, and recovery income and expense is in line with budget.
- Continually evaluate market conditions and recognise and react to emerging risks in the portfolio.
- Change management supporter; to improve processes and procedures in a rapid manner through developing improvements with the business line mission squad.
Personal Attributes & Experience
- Minimum 3 years' experience in a Collections department in CM or AF (or both), relating to SMEs.
- Evidence of successfully managing a portfolio of distressed assets to maximise customer collections.
- Expert knowledge and understanding of CM and AF lending products and the options open to a lender to enforce its security in the event of customer default.
- Knowledge of the legal and contractual rights of both the Bank and the customer and the bank's options to enforce its security in the event of a customer default.
- Knowledge of the current regulatory environment including treating customers fairly and dealing with vulnerable customers.
- Working understanding of PD, LGD and EAD; IFRS 9 and impairment process.
Working at Allica Bank
At Allica Bank we want to ensure our employees have the right tools and environment in which to succeed in their role and in support of our customers. Our employees are at the heart of everything we do, so our benefits are designed with you in mind:
- Full onboarding support and continued development opportunities
- Options for flexible working
- Regular social activities
- Pension contributions
- Discretionary bonus scheme
- Private health cover
- Life assurance
- Family friendly policies including enhanced Maternity & Paternity leave
Don't tick every box? Don't worry if you don't have all the skills or requirements listed on the job description. If you think you'll be a good fit, we'd still love to hear from you!
Flexible working
We know the '9-to-5' isn't right for everyone. That's why Allica Bank is fully committed to flexible and hybrid working. Please let us know what is best for you and, if we can, we will do our best to accommodate.
Diversity
We're a diverse bunch here at Allica, with all kinds of experiences, backgrounds and lifestyles. Our openness and differences make us stronger, and we want everybody to feel comfortable bringing as much of themselves to work with them as they like.
Collections & Recoveries Manager in London employer: Allica Bank Limited
Allica Bank is an exceptional employer, dedicated to empowering its employees with a supportive work environment that prioritises personal and professional growth. With a strong focus on flexibility, diversity, and employee well-being, Allica offers comprehensive benefits including private health cover, enhanced family leave, and opportunities for continuous development, making it an ideal place for those looking to make a meaningful impact in the financial sector.
StudySmarter Expert Advice🤫
We think this is how you could land Collections & Recoveries Manager in London
✨Tip Number 1
Network like a pro! Reach out to your connections in the industry, attend relevant events, and don’t be shy about letting people know you’re on the hunt for a Collections & Recoveries Manager role. You never know who might have the inside scoop on job openings!
✨Tip Number 2
Prepare for interviews by researching Allica Bank and its values. Understand their approach to supporting SMEs and think about how your experience aligns with their mission. This will help you stand out as a candidate who truly gets what they’re about.
✨Tip Number 3
Practice your pitch! Be ready to explain how your background in collections and recoveries can benefit Allica Bank. Highlight specific examples of how you've successfully managed distressed assets and improved recovery strategies in the past.
✨Tip Number 4
Don’t forget to apply through our website! It’s the best way to ensure your application gets seen by the right people. Plus, it shows you’re genuinely interested in being part of the Allica team.
We think you need these skills to ace Collections & Recoveries Manager in London
Some tips for your application 🫡
Tailor Your Application:Make sure to customise your CV and cover letter for the Collections & Recoveries Manager role. Highlight your experience in managing distressed assets and your understanding of CM and AF lending products. We want to see how your skills align with our mission at Allica Bank!
Showcase Your Experience:Don’t just list your previous roles; share specific examples of how you've successfully managed portfolios or implemented recovery strategies. We love seeing real-life applications of your expertise, especially when it comes to helping SMEs.
Be Authentic:Let your personality shine through in your application. We value diversity and want to know what makes you unique. Share your motivations for wanting to join Allica Bank and how you can contribute to our mission of supporting SMEs.
Apply Through Our Website:We encourage you to apply directly through our website. It’s the best way to ensure your application gets into the right hands. Plus, you’ll find all the details you need about the role and our company culture there!
How to prepare for a job interview at Allica Bank Limited
✨Know Your Stuff
Make sure you brush up on your knowledge of Commercial Mortgages and Asset Finance. Understand the key challenges SMEs face and how Allica Bank's approach can make a difference. This will show that you're not just interested in the role, but also in the company's mission.
✨Showcase Your Experience
Prepare specific examples from your past roles where you've successfully managed distressed assets or implemented recovery strategies. Use the STAR method (Situation, Task, Action, Result) to structure your answers and highlight your achievements.
✨Understand Regulatory Requirements
Familiarise yourself with the current regulatory environment, especially around treating customers fairly. Be ready to discuss how you would handle vulnerable customers and ensure compliance while achieving recovery goals.
✨Ask Insightful Questions
Prepare thoughtful questions about the role and the team dynamics at Allica Bank. Inquire about their approach to change management and how they support employees in adapting to new processes. This shows your genuine interest in contributing to the team's success.
