Collections and Recoveries Assistant - KFS Recruitment : Job Details

Collections and Recoveries Assistant

Bridging Finance

Up to £45,000

We are working with a leading independent bridging finance provider based in the United Kingdom. With a strong presence in the market, they offer bridging loans and buy-to-let mortgages to valued customers.

The Recoveries & Collections Assistant will play a crucial role in supporting the Recoveries and Collection team in managing and mitigating the company's loan portfolio risk. The primary responsibility of this role is to assist in the recovery of loans, liaise with borrowers, and ensure the efficient management of loans. The Recoveries & Collections Assistant will be responsible for maintaining accurate records, adhering to compliance and regulatory guidelines, and contributing to the overall success of the loan management team.

Key Responsibilities:

• Work closely with the Recoveries and Collection Manager to develop and execute strategies for loan recovery.
• Contact clients through various communication channels, including telephone, email, and written correspondence.
• Negotiate repayment plans and settlements with clients in line with company policies and regulations.
• Monitor and track the progress of accounts, ensuring timely follow-ups and actions.
• Maintain accurate records of all communication and interactions with borrowers.
• Updating and providing accurate redemption statements to include any expenses incurred.
• Prepare and submit reports on loan recovery, including status updates and progress reports.
• Investigate and resolve discrepancies in borrower accounts.
• Provide clear and professional communication with customer regarding their outstanding debts.
• Offer guidance to customers regarding repayment options and the implications of nonpayment.
• Address customer queries and disputes effectively, escalating complex cases when necessary.
• Maintain a high level of customer service when dealing with customers, aiming to achieve positive outcomes while preserving the company's reputation.

Key Skills and Qualifications

• Previous experience in loan recoveries, collections, or a related role is advantageous.
• Strong understanding of lending processes and financial regulations.
• Minimum 2 years’ experience in recoveries role
• Excellent communication and negotiation skills.
• Ability to work independently, prioritize tasks, and meet deadlines.
• Attention to detail and accuracy in record keeping.
• Strong problem-solving skills and the ability to think critically.
• Knowledge of legal processes related to loan recovery is a plus.
• Proficient in Microsoft Office, especially Excel.