Job Title: Collection Officer
Role Overview:
The Collection Officer is responsible for managing and recovering outstanding payments from customers while maintaining positive relationships. This role involves regular follow-ups, negotiation of payment plans, and ensuring adherence to company policies and legal guidelines.
Key Responsibilities:
1. Debt Collection & Follow-ups
- Contact customers via phone, email, or in person to collect overdue payments
- Follow up on delinquent accounts and ensure timely recovery
- Maintain accurate records of all collection activities
2. Account Management
- Monitor assigned accounts and identify overdue balances
- Reconcile customer accounts and resolve billing discrepancies
- Update payment status and customer information in systems
3. Negotiation & Payment Plans
- Negotiate repayment terms and settlement plans with customers
- Provide flexible solutions while safeguarding company interests
4. Compliance & Documentation
- Ensure collection practices comply with company policies and applicable laws
- Maintain proper documentation of communications and agreements
5. Reporting & MIS
- Prepare daily/weekly/monthly reports on collection status
- Track recovery targets and performance metrics
6. Customer Relationship Management
- Handle customer queries professionally and maintain positive relationships
- Escalate complex or high-risk cases when necessary
Qualifications & Skills:
- Bachelor’s degree in Commerce, Finance, Business Administration, or related field
- 1–5 years of experience in collections, credit control, or accounts receivable
- Strong negotiation and communication skills
- Basic understanding of accounting principles
- Proficiency in MS Excel and accounting/ERP systems
Key Competencies:
- Persuasion and negotiation
- Attention to detail
- Time management
- Problem-solving
- Resilience and patience
Preferred Experience:
- Experience in banking, NBFC, telecom, or retail collections
- Familiarity with legal recovery processes and compliance norms
- Field collection experience (if role requires travel)
Performance Metrics (KPIs):
- Collection efficiency ratio
- Reduction in overdue accounts
- Recovery against assigned targets
- Aging of receivables
