Collecttion Officer

Device Now Private Ltd. seeks a dedicated Collection Officer with 1 year of relevant experience to manage debt recovery processes effectively. The role focuses on maintaining excellent customer communication while addressing delinquent accounts and mitigating credit risks. The ideal candidate demonstrates strong credit recovery skills and possesses a solid understanding of credit risk management principles. This position does not involve managing a team but requires a proactive and detail-oriented approach to ensure timely collections and minimize financial losses. The Collection Officer collaborates closely with internal departments to track overdue payments, negotiate repayment plans, and update credit records. By analyzing credit information and customer history, the officer identifies potential risks and applies appropriate recovery strategies. Effective communication and negotiation skills are critical for resolving disputes and maintaining positive relationships with customers. Compliance with company policies and regulatory requirements is essential in all collection activities to safeguard the organization's interests.
Responsibilities

Monitor overdue accounts and initiate timely collection efforts to recover outstanding debts.
Communicate with customers through phone calls, emails, or written correspondence to negotiate payment plans and resolve payment issues.
Assess credit risk and analyze customer credit profiles to identify potential collections problems.
Maintain accurate records of collection activities, customer interactions, and payment agreements.
Collaborate with the credit risk management team to develop recovery strategies and minimize financial exposure.
Ensure compliance with company policies and regulatory guidelines throughout the debt recovery process.
Prepare reports on collections status and escalate critical issues to management when necessary.
Support credit recovery initiatives by identifying trends and recommending process improvements.
Handle customer inquiries and complaints related to debts professionally and courteously.
Update customer credit information promptly based on payment status and adjustments.