Job Description
Some careers open more doors than others.
If you’re looking for a career that will unlock new opportunities, join HSBC and experience the possibilities. Whether you want a career that could take you to the top, or simply take you in an exciting new direction, HSBC offers opportunities, support and rewards that will take you further.
Job Summary
- Responsible for managing collection and recovery efforts for delinquent Secured loans portfolio. Ensuring efficient and effective recovery on the delinquent Secured loans portfolio while adhering to the regulatory requirement
- Lead team of collection agents, set collections goals, develop strategies, and work closely with the agencies to resolves delinquent Secured loans portfolio
- Initiate Legal action on the NPA portfolio Strong knowledge of legal process in secured products i.e. Securitisation and Reconstruction of Financial Assets and Enforcement of Securities Interest Act 2002/ Debts Recovery Tribunal/ CIVIL/ National Company Law Tribunal.
- Act as the liaison point for Legal counsel(s) assisting debt collections and manage the entire Legal journey on the NPA accounts
- Manage “Risk” by way of identification & assessment and to mitigate such risk by implementing agreed strategy and by exercising good control
- To ensure Bank’s laid down processes & polices are followed and customer fairness principles are adhered to all the time
- Drive performance of External vendors matched against expected delinquency, Money Recovery Rate, Flow Rates & Loss rates
- Implement C19 & C23 Agency Management Standards while providing direction & support to the External Collection Vendors
- To maintain, HSBC’s internal control standards, including the timely implementation of internal & external audit points together with any issues raised by any external regulators
Principal Responsibilities
- Set monthly / quarterly targets for the Debt Collection Agencies in line with business requirement
- External Debt Collection Agencies (DCA’s) are motivated to achieve the set targets in terms of Money Recovery Rate (MRR), Gross Credit Loss (GCL), Flow Rates, Recoveries & Provision releases & saves while remaining aligned to our operating principles
- Identifying accounts and initiating legal action under Securitisation and Reconstruction of Financial Assets and Enforcement of Securities Interest Act 2002/CIVIL/Debt Recovery Tribunal.
- Implement C19 and C23 Agency Management Standards to help mitigate conduct and reputation related risks
- Design and implement effective collection strategies for different stages of delinquency
- Upkeep of performance records and ensure updation on collection efforts are capture on the collections system
- To extend support to External Debt Collection Agencies (DCA’s) in helping them imbibe and follow HSBC’s Customer Fairness Principles
- Lead and actively participate in negotiations with delinquent customers to collect outstanding dues/ resolve issues
- Conduct audit checks and provide timely, formal feedback to DCAs
- Effect collaboration with Internal stakeholders to enhance collections efficiency
Operational Effectiveness & Control
- Maintain and observe HSBC internal control standards, implement, and observe Group Compliance Policy, including the timely implementation of recommendations made by internal/external auditors and external regulators
- To ensure all the Information Security Risk (ISR) guidelines are adhered by the Debt Collection Agencies
- Run business in accordance with all guidelines and instructions covered under Desk Instruction Manual (DIM), Regional Guidelines (RG), Local Collection Manual (LCM), Debt Collection Agency (DCA) guidelines and Customer Fairness Principles
- Achieve satisfactory audit ratings with neither any major repeat recommendations nor any adverse findings from external auditors or any compliance review
- Respond all customer service escalations within 24 hours of notice and escalate the same to Customer Complaints team and ensure Upheld complaints don’t exceed the agreed threshold
- Analyze the portfolio and provide feedback to the risk department in terms of fraud accounts
- Ensure Implementation of the Potential Vulnerable Customer policy
- Regularly monitor Service Providers’ service levels and costs by maintaining and regularly updating Archer System
- Check accuracy of billings (sign off on the billings) before obtaining approval for payment
- Perform at least an annual risk evaluation and mitigation analysis regarding the outsourced activity. Conduct an annual review of the Service Providers’ financial capacity to support the outsourced activity (leverage and gearing ratios, net worth or capital, operating cash flows or liquidity) and file these reviews together with the financial statements
- Perform all First Line of Defence (LoD) activities on timely basis
