Senior Collection Executive

2 weeks ago

abu dhabi, United Arab Emirates Khidmah Full time
About the Role:The primary purpose of the Senior Collection Executive role is to lead and manage the collection efforts within an organization, ensuring the efficient and effective recovery of outstanding debts while maintaining positive customer relationships. By overseeing a team of collection agents and implementing strategic approaches, the Senior Collection Executive plays a critical role in minimizing bad debt exposure and optimizing cash flow for the organization.Responsible for managing and collecting all the outstanding accounts receivable from clients and customers. And responsible for other aspects of collections, resolving customer billing problems and reducing the number of accounts receivable. In addition to generating, cancelling, and re-issuing invoices & receipts in the system. While keeping good track of all the upcoming due payments (PDC's)Roles, Responsibilities, Duties:Leading Collection Efforts: Take charge of the overall collection process, overseeing and coordinating activities to ensure timely recovery of outstanding dues.Monitor outstanding invoices and payments due from customers, with a particular focus on managing customer aging and addressing overdue amounts. Demonstrate problem-solving abilities by coordinating with finance and operations teams to rectify invoices, Service Entry Sheets (SES), work completion reports, etc., which may be necessary for customers to make payments against outstanding invoices. Oversee reconciliation of all customer accounts with finance and operations teams, ensuring prompt resolution of any outstanding matters. Assist the finance team in creating appropriate bad debt provisions by providing timely input on customer performance related to specific bad debt provisions.Facilitating the cash management by achieving weekly and monthly collection target ser by CEO / ED – finance Portfolio Management: Manage a portfolio of overdue accounts, devising strategies to maximize collections while maintaining positive customer relationships.Team Supervision: Supervise a team of collection agents (as and when the team will expand), providing guidance, support, and training to ensure high performance and adherence to company policies and procedures.Performance Monitoring: Monitor the performance of collection agents, tracking key metrics such as call volumes, promises to pay, and collections achieved, and providing feedback for improvement.Strategy Development: Develop effective collection strategies tailored to different types of accounts and customer profiles, continuously refining approaches based on feedback and performance analysis.Negotiation and Conflict Resolution: Handle escalated collection issues, negotiating payment arrangements with overdue customers and resolving disputes in a professional and amicable manner.Documentation and Reporting: Maintain accurate records of collection activities, documenting communication with customers, updating account information, and preparing regular reports on collection performance for management review.Compliance Adherence: Ensure compliance with regulatory requirements and company policies governing debt collection practices, staying informed about relevant laws and regulations.Customer Communication: Communicate with customers in a clear, respectful, and empathetic manner, effectively conveying the consequences of non-payment while exploring mutually beneficial solutions.Continuous Improvement: Identify areas for process improvement within the collection function, proposing and implementing initiatives to enhance efficiency, effectiveness, and customer satisfaction.Cross-Functional Collaboration: Collaborate with other departments such as finance, operations, BD team, and legal to address complex collection issues and streamline processes for better outcomes.Risk Management: Assess credit risk associated with overdue accounts, recommending appropriate actions to mitigate risk and minimize losses for the organization.Occupational and workplace Health and Safety responsibilities: In addition to all job specific responsibilities, all employees are required to adhere to all Khidmah health, safety and environmental (HSE) policies, procedures, practices, and relevant legal and statutory health, safety and environmental requirements and obligations. All employees are personally responsible to familiarize themselves with these policies, procedures, practices, updates, etc. Khidmah HSE department regularly updates existing and introduce new policies, procedures and practices and each employee is personally responsible to ensure they stay updated and compliant with all such updates and new additions. Information Security responsibilities: with Khidmah Information Security Policiesaware of and fulfil their information security responsibilitieswhoever handles sensitive company information have taken the Security Awareness Traininghow to report a security incident (to IT ServiceDesk or InfoSec).Disable his/her OS firewall and/or Antivirususe to authorized purposes, Protect access accounts, privileges, and associated passwords.accountability of his/her individual user accounts, and maintain confidentialityQualifications: A bachelor's degree in finance, accounting, business administration, or a related field is typically required. Advanced degrees or professional certifications such as Certified Credit Executive (CCE) or Certified Collection Management Professional (CCMP) may be preferred.7 to 8 years of experience in relevant Industry. Knowledge of Workplace Health and Safety (WH&S) practices and policies.Proven experience in collection or similar fieldExcellent knowledge of billing proceduresComfortable working with targetsContact clients and discuss their overdue payments.Excellent knowledge to work with MS Office especially Excel
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