At a Glance
- Tasks: Manage delinquent accounts and lead a Collections Team to recover payments.
- Company: Join a reputable financial services lender with over 30 years of award-winning service.
- Benefits: Enjoy career growth opportunities and a forward-thinking culture in a growing company.
- Other info: Ideal for self-motivated individuals eager to make a difference in finance.
- Why this job: Be part of a dynamic team focused on strategic relationships and impactful recovery solutions.
- Qualifications: Minimum 2 years in Collections, preferably with team management experience.
The predicted salary is between 36000 - 60000 £ per year.
Our client is a growing and reputable financial services lender who has provided superior service to individual and business customers for the last 30+ years. They have recently won several awards and offer a forward-thinking culture to their 600+ employees. They are in a brilliant position to focus on increasing turnover in the next 5 years and are looking for ambitious individuals to join their journey.
Due to growth, they now have a new position for a Collections Manager to manage their portfolio of Customers. This is a brilliant opportunity for someone who is successful within Collections; utilising your communication and strategic mind-set to develop these relationships. Ultimately you will have ownership of these accounts and overdue payments. This team will continue to grow over the next 2-3 years which will ultimately enable you to have brilliant career growth and opportunity.
Principal Accountabilities of the Collections Manager:- Managing a portfolio of delinquent accounts and accounts in workout/recovery by implementing a repayment or recovery strategy on both a portfolio and individual customer basis.
- Supervising the Collections Team to bring delinquent customer agreements up to date.
- Completing site visits to distressed customers, complete a review and assessment of the current position and where necessary consider an appropriate work out plan.
- Managing the Watchlist and reporting on Watchlist developments to the Head of Credit.
- Manage the relationship with a panel of approved Solicitors, Insolvency Practitioners and Collection Agents.
- Liaising with insolvency practitioners and instructing Solicitors where required.
- 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.
- Minimum 2 years’ experience in a Collections department preferably at a lender providing funding to SMEs.
- Experience of managing or supervising a Collections Team would be an advantage.
- Clear knowledge of the legal and contractual rights of both the Bank and the customer in the terms and conditions of finance agreements.
- Clear knowledge of the current regulatory environment including treating customers fairly and dealing with vulnerable customers.
- Evidence of successful collections activity by own efforts.
- Preferred experience of managing a team of collectors.
- Self-motivated, highly organised, accountable and results orientated.
- Effective communicator with colleagues, customers and suppliers.
- Confident in using telephone as well as other methods of communication.
- A team player who actively seeks opportunities to collaborate across multiple disciplines.
- Previous experience of identifying and recommending change to improve systems and procedures.
- Knowledge of the regulatory environment and requirements that apply to a Bank.
- Ability to multi-task and with a flexible attitude to support colleagues and customers.
StudySmarter Expert Advice🤫
We think this is how you could land Collections Manager in Altrincham
✨Tip Number 1
Familiarise yourself with the latest regulations and compliance requirements in the financial services sector. Understanding the legal landscape will not only help you in interviews but also demonstrate your commitment to treating customers fairly.
✨Tip Number 2
Network with professionals in the collections and finance industry. Attend relevant events or join online forums to connect with others who can provide insights or even refer you to opportunities within their organisations.
✨Tip Number 3
Showcase your leadership skills by discussing any previous experience managing teams or projects. Highlight specific examples where you successfully improved processes or achieved results, as this will resonate well with the hiring team.
✨Tip Number 4
Prepare for potential interview questions by practising your responses to common scenarios in collections management. Think about how you would handle difficult customer situations or implement recovery strategies, as these are likely to come up during discussions.
We think you need these skills to ace Collections Manager in Altrincham
Some tips for your application 🫡
Tailor Your CV:Make sure your CV highlights relevant experience in collections, particularly any supervisory roles. Emphasise your achievements in managing delinquent accounts and your understanding of the regulatory environment.
Craft a Compelling Cover Letter:In your cover letter, express your enthusiasm for the Collections Manager role. Discuss your strategic mindset and how you have successfully developed relationships with customers in previous positions.
Showcase Your Communication Skills:Since effective communication is key for this role, provide examples in your application of how you've successfully communicated with colleagues, customers, and external partners in past roles.
Highlight Team Management Experience:If you have experience managing or supervising a collections team, make sure to detail this in your application. Discuss how you motivated your team and improved their performance.
How to prepare for a job interview at Fintellect Recruitment
✨Showcase Your Collections Experience
Be prepared to discuss your previous experience in collections, especially any specific achievements or strategies you've implemented. Highlight how your efforts have led to successful outcomes, as this will demonstrate your capability for the role.
✨Understand the Regulatory Environment
Familiarise yourself with the current regulatory landscape affecting collections, particularly regarding treating customers fairly. Being able to articulate your knowledge of these regulations will show that you are well-prepared and responsible.
✨Demonstrate Leadership Skills
If you have experience managing a team, be ready to share examples of how you've successfully supervised others. Discuss your approach to motivating and guiding your team, as this is crucial for the Collections Manager role.
✨Prepare for Scenario-Based Questions
Expect questions that assess your problem-solving skills, such as how you would handle a distressed customer or manage a delinquent account. Think through potential scenarios in advance so you can respond confidently and effectively during the interview.
