VP & Head of Collections- Mortgages (Emiratisation)
Company Description
Job Description
KEY ACCOUNTABILITIES:
Ensure effective cascading of the functional strategy into department business plans to ensure vertical alignment and horizontal integration with other interfacing departmental strategies.
People Management
Manage the effective achievement of assigned objectives through the leadership of the Collections department by setting of individual objectives, managing performance, developing and motivating staff to maximise departmental performance.
Lead the talent development initiatives for the assigned department, collaborating with technical/discipline experts and thereby ensure the availability of talent to fit business requirements.
Act as a role model and drive adherence to organisational values and ethics by employees of the assigned department to foster a value driven culture within the Group.
Budgeting and Financial Planning
Policies, Systems, Processes & Procedures
Manage and ensure effective implementation of Credit & Collections Personal Banking functional policies, procedures and controls covering all areas of assigned department activity so that all relevant procedural/legislative requirements, fulfilled while delivering a quality, cost-effective service.
Portfolio Analysis – Recommendations & Enhancements
Manage the process of conducting analysis on the non-performing loans, ascertain the legitimacy of the claim and institute the collections process accordingly.
Conduct detailed portfolio analysis in order to advise management on portfolio trends to facilitate informed decision making in order to minimize credit losses.
Manage the monthly loss provisioning, contractual and early write off recommendations in line with defined regulatory standards and Bank’s policies and procedures.
Collections Management
Oversee engagement with collection agencies and partners to drive performance and ensure alignment to Bank’s policies and regulatory guidelines..
Monitor legal environment on an ongoing basis to ascertain possible impact on collections related activities and safeguard the Bank’s interests.
Establish an ongoing working relationship with Remedial Management & Recoveries to ensure the handover of accounts in a timely, efficient and effective manner.
Oversee review and update of existing systems and process to ensure adequate operational support is provided in the collection of due payments.
Oversee the preparation of a detailed collections dashboard in order to allow individual businesses to take adequate steps to achieve collection targets. This includes the preparation of detailed collection targets for different businesses based on monthly delinquency buckets in order to facilitate businesses to prepare detailed action plan for collection.
Performance Monitoring
Oversee the preparation of detailed collection targets for different businesses based on monthly delinquency buckets in order to facilitate businesses to prepare detailed action plan for collection.
Monitor the effectiveness of the staff incentive plan in collaboration with the Business Management team and ensure the incentive plans contribute to the achievement of the Annual Operating Plan (AOP).
Maintains relationships with large companies to follow up on the outstanding amounts owed by their employees (e.g. personal loan) and collect full outstanding amount.
Manages relationships with relevant authorities to ensure that all cases of fraud are handled promptly and within the legal framework of the local courts.
Liaises with international collection agencies to recover outstanding amounts from defaulting customers who have fled United Arab Emirates.
Keeps in touch with relevant authorities, including law enforcement agencies and external lawyers and keeps the unit updated on any changes anticipated in the regulatory / legal scenario of the country.
Continuous Improvement
Lead the identification of opportunities for continuous improvement and sustainability of systems, processes and practices considering global standards, productivity improvement and cost reduction.
Reporting
Ensure that all department reports are prepared timely and accurately and meet Group requirements, policies and quality standards.
Qualifications
Minimum Qualification
Bachelor’s degree in Finance or related discipline.
Master’s degree in Business Administration or related discipline is preferred.
Minimum Experience