Assistant Manager, Collections (UAE National) at CBD

Sharjah, Sharjah Emirate, United Arab Emirates -

Full Time

Start Date

Immediate

Expiry Date

08 Jun, 26

Salary

0.0

Posted On

10 Mar, 26

Experience

5 year(s) or above

Remote Job

Yes

Telecommute

Yes

Sponsor Visa

Skills

Collections Strategy, Recovery Strategy, Operational Efficiency, Regulatory Compliance, Consumer Protection Regulations, Portfolio Analysis, Risk Assessment, Cost-Benefit Analysis, Budgeting, Agency Management, Legal Collaboration, Process Automation, Team Leadership, Performance Management, MIS Reporting, Banking Operations

Industry

Banking

Description

JOB PURPOSE To develop and implement strategic initiatives for the Collections and Recovery Unit, ensuring compliance with internal policies and regulatory requirements, and driving operational efficiency. PRINCIPAL ACCOUNTABILITIES Develop and oversee the implementation of a comprehensive collections and recovery strategy encompassing all recovery-related activities in the bank. Ensure processes are aligned with operational policies, regulatory frameworks, and Consumer Protection Regulations (CPR). Devise Champion Challenger programs showing Cost Vs Benefit analysis driving higher resolution rates across products and buckets. Analyze portfolio performance, including Accounts Coverage Ratios (ACR) and recovery metrics, to enhance collection efficiency. Break down the Loss forecasts into collections roll rates and recovery rates. Conduct cost-benefit analysis and risk assessments to identify areas of improvement and mitigate operational risks. Work closely with Finance and Collections, to provide risk input on annual collections capacity requirements and budgets (FTE / Incentive budgets). Apprise senior management with Portfolio performance and recommend areas of concern or scope. Highlight key portfolio trends and recommend corrective actions to improve recovery rates. Maintain audit-ready processes by implementing robust controls and ensuring documentation meets internal and external standards. Address audit findings promptly and collaborate with stakeholders to resolve compliance issues. Adhere to risk management policies and escalation procedures, ensuring timely resolution of concerns. Manage external recovery agencies to ensure adherence to compliance, regulatory requirements, service-level agreements (SLAs) and alignment with the bank’s strategy. Evaluate agency performance regularly and take corrective measures to optimize recovery outcomes. Collaborate with legal teams to manage accounts with ongoing or pending legal action. Address high-risk accounts by implementing appropriate actions and controls to minimize exposure. Ensure adherence to the bank’s operational risk management framework and Consumer Protection Regulations. Streamline processes, automate workflows, and implement innovative solutions to enhance collections performance. Optimize resource allocation and maintain adherence to turnaround time (TAT) standards for collections activities. Lead and guide collections teams, providing training and development opportunities to enhance performance. Set individual and team performance targets and ensure adherence to key performance indicators (KPIs). Foster a culture of compliance, accountability, and continuous improvement (Internal or external environment in which the job operates) Responsible for overseeing all aspects of collections and recovery activities, focusing on optimizing recoveries while minimizing operational risks. Maintains audit readiness through robust processes, documentation, and adherence to internal policies and external regulatory frameworks. Risk management is a critical component, involving the identification and mitigation of potential operational, financial, and reputational risks within the collections Collaboration with internal stakeholders (Legal, Risk, Finance) and external agencies is vital to ensure alignment with collection strategies and compliance standards. Balances achieving recovery targets with maintaining budget, standards of service delivery, operational efficiency, and compliance. Requirements QUALIFICATIONS & SKILLS Total 6+ years of experience in Collections function at various levels probably across banks. Should have managed Collections portfolio, Portfolio Analysis & MIS Strong understanding of Banking Operations, policies & procedures, External economic/market environment including UAE Central Bank and other statutory guidelines.

Responsibilities

The role involves developing and executing a comprehensive collections and recovery strategy, ensuring strict adherence to internal policies and regulatory requirements like Consumer Protection Regulations. Key duties include analyzing portfolio performance metrics, managing external recovery agencies, and collaborating with internal departments like Finance and Legal to mitigate risk and optimize recovery outcomes.