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- Tasks: Lead loan recovery efforts and negotiate with solicitors for efficient outcomes.
- Company: Join a forward-thinking company focused on effective financial solutions and compliance.
- Benefits: Enjoy a collaborative work environment with opportunities for professional growth.
- Why this job: Make a real impact by helping recover loans while working closely with leadership.
- Qualifications: Experience in loan recoveries and strong communication skills are essential.
- Other info: Stay updated on industry changes and contribute to process improvements.
The predicted salary is between 43200 - 72000 £ per year.
We are seeking a dynamic Recoveries Manager to join our team and play a crucial role in managing loans where we need to initiate recovery steps. In this position, you will collaborate closely with the Senior Leadership Team and the Board to ensure timely loan recovery while adhering to our Collections policy and regulatory guidelines.
You will be responsible for:
- Negotiating fee quotes with Receivers and Solicitors.
- Implementing strategies to recover loans efficiently and within designated timelines.
- Raising possible issues with loans early and suggesting recovery strategies with a view to recovering 100% of the loan.
- Managing settlement discussions with a full understanding of company policies and procedures, referring these to decision makers where required.
- Resolving queries promptly and referring any expressions of dissatisfaction/complaints to the Compliance Officer/Manager.
- Ensuring all records/systems are maintained in accordance with GDPR rules.
- Communicating with Lenders/Borrowers as required.
- Ensuring strict adherence to our Collections policy and regulatory expectations throughout the recovery process.
- Ensuring own knowledge is current, up to date and relevant, raising any personal or team knowledge gaps in a timely manner.
- Raising any improvement/efficiency suggestions with Line Manager/Head of Operations.
- Working with the Finance team as required, during audit periods and possibly working with external auditors.
Qualifications and Skills:
- Proven experience in loan recoveries or a related field.
- Strong understanding of collections policies and regulatory requirements.
- Experience of working within a regulatory environment.
- Ability to respond quickly to training and adapt to changes within the industry.
- Ability to manage upwards to senior management.
- Excellent communication and interpersonal skills.
- Strong analytical and problem-solving skills.
- Ability to juggle competing priorities and use initiative.
- Ability to identify when assistance, knowledge or additional expertise is required and seek the same.
Recoveries / Collections manager employer: City Elite Transaction Services Ltd
Contact Detail:
City Elite Transaction Services Ltd Recruiting Team
StudySmarter Expert Advice 🤫
We think this is how you could land Recoveries / Collections manager
✨Tip Number 1
Familiarise yourself with our Collections policy and regulatory guidelines. Understanding these will not only help you in interviews but also demonstrate your commitment to adhering to our standards.
✨Tip Number 2
Network with professionals in the loan recovery field. Engaging with others who have experience in this area can provide valuable insights and may even lead to referrals or recommendations.
✨Tip Number 3
Prepare to discuss specific strategies you've implemented in past roles to recover loans efficiently. Highlighting your problem-solving skills and analytical abilities will set you apart from other candidates.
✨Tip Number 4
Stay updated on industry trends and changes in regulations. Showing that you are proactive about your professional development will impress our Senior Leadership Team and demonstrate your readiness for the role.
We think you need these skills to ace Recoveries / Collections manager
Some tips for your application 🫡
Tailor Your CV: Make sure your CV highlights relevant experience in loan recoveries or collections management. Use specific examples that demonstrate your understanding of collections policies and regulatory requirements.
Craft a Compelling Cover Letter: In your cover letter, express your enthusiasm for the role and explain how your skills align with the responsibilities outlined in the job description. Mention your ability to negotiate and manage settlement discussions effectively.
Showcase Your Problem-Solving Skills: Provide examples in your application that illustrate your strong analytical and problem-solving skills. Discuss situations where you successfully resolved issues or improved processes in previous roles.
Highlight Communication Skills: Emphasise your excellent communication and interpersonal skills in your application. Mention any experience you have in liaising with senior management or working collaboratively with teams, as this is crucial for the role.
How to prepare for a job interview at City Elite Transaction Services Ltd
✨Know Your Regulations
Familiarise yourself with the collections policies and regulatory requirements relevant to the role. Being able to discuss these confidently will demonstrate your understanding of the industry and show that you are prepared for the responsibilities of the position.
✨Showcase Your Negotiation Skills
Prepare examples of past experiences where you successfully negotiated terms or resolved disputes. This will highlight your ability to manage settlement discussions effectively, which is a key part of the job.
✨Demonstrate Problem-Solving Abilities
Be ready to discuss specific challenges you've faced in loan recoveries and how you approached them. This will showcase your analytical skills and your ability to think on your feet, which are crucial for this role.
✨Communicate Clearly
Practice articulating your thoughts clearly and concisely. Strong communication skills are essential for liaising with lenders and borrowers, so being able to convey your ideas effectively will set you apart from other candidates.
