Head VAF Collections Job in Johannesburg
Job Description
Head VAF Collections Job. As the cornerstone of financial management within an organization, the Head of VAF (Vehicle and Asset Finance) Collections oversees the strategic direction and execution of collections operations. Responsible for leading a team of dedicated professionals, this role entails developing and implementing effective collection strategies to mitigate credit risk and maximize recovery of outstanding debts. With a keen understanding of industry regulations and best practices, the Head of VAF Collections plays a pivotal role in maintaining financial stability and ensuring compliance while fostering positive customer relationships.
Responsibilities of Head VAF Collections Job
- Develop and implement collection strategies to minimize delinquency and maximize recovery of outstanding debts.
- Lead and manage a team of collection professionals, providing guidance, support, and performance feedback.
- Monitor and analyze collection metrics and trends to identify areas for improvement and adjust strategies accordingly.
- Ensure compliance with regulatory requirements and company policies in all collection activities.
- Liaise with internal stakeholders such as credit, risk management, and legal departments to address collection issues and mitigate credit risk.
- Establish and maintain relationships with external stakeholders, including customers, third-party collection agencies, and legal counsel.
- Develop and maintain accurate and up-to-date records of collection activities, payments, and customer communications.
- Implement training programs and provide ongoing education to collection staff on best practices, policies, and procedures.
- Prepare regular reports and presentations for senior management on collection performance and strategies.
Requirements
- Bachelor’s degree in finance, accounting, business administration, or related field.
- Extensive experience in collections management, preferably in the vehicle and asset finance sector.
- Proven track record of leadership and management in a similar role.
- In-depth knowledge of collections laws, regulations, and best practices.
- Strong analytical and problem-solving skills to assess and address collection challenges.
- Excellent communication and negotiation skills to interact effectively with internal teams and external stakeholders.
- Ability to develop and implement effective collections strategies to achieve targets and reduce delinquency rates.
- Proficiency in using collection software and tools for tracking and reporting purposes.
- Attention to detail and accuracy in handling sensitive financial information.
- Adaptability to changing market conditions and regulatory requirements.
Skills
- Ability to lead and motivate a team of collection professionals.
- Capacity to develop and implement effective collection strategies aligned with organizational goals.
- Strong verbal and written communication skills to interact with internal and external stakeholders.
- Proficiency in negotiation techniques to facilitate payment arrangements and resolve disputes.
- Ability to analyze collection data and trends to identify areas for improvement and implement solutions.
- Skill in resolving complex collection issues and overcoming challenges.
- Understanding of regulatory requirements and adherence to legal guidelines in collections practices.
- Focus on maintaining positive customer relationships while achieving collection objectives.
- Efficiently prioritize tasks and manage time to meet collection targets and deadlines.
- Flexibility to adapt to changing market conditions and evolving collection strategies.
