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Collections Officer

Employer
ila Bank
Location
Manama, Bahrain
Salary
Competitive
Closing date
May 24, 2024

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Job Function
Accounting/Audit/Tax
Industry Sector
Finance - General
Employment Type
Full Time
Education
Bachelors
Job Purpose:
The Collection Officer's primary responsibility is to assist in the collection of outstanding loan/credit card payments from customers, working closely with the Retail Credit team to ensure timely and efficient recovery of delinquent credit facilities. Main duties will involve contacting borrowers, negotiating repayment plans, and maintaining accurate records of all communication and payment arrangements.

Principal Responsibilities, Accountabilities and Deliverables of Role:
  • Contact borrowers who have missed credit card/loan payments.
  • Negotiate repayment plans with borrowers based on their financial situations.
  • Maintain accurate and up-to-date records of all communication with borrowers, including phone calls, emails, and any payment arrangements made.
  • Follow up with borrowers to ensure compliance with agreed-upon repayment plans.
  • Provide timely and accurate reports on collection activities to RCD and Collection management.
  • Collaborate with other departments, to resolve any borrower inquiries or issues.
  • Stay updated on relevant laws, regulations, and industry best practices related to loan collections.
  • Continuously seek opportunities to improve collection processes and increase overall efficiency.
  • Adhere to the bank policies and procedures, including compliance with relevant privacy and data protection regulations.

Experience:
  • 1-3 years in strong retail credit experience.

Education:
  • Graduate degree, preferably in Banking, Finance, Accounting, or other business-related fields. (Desired not mandatory).

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