Cluster Manager - Tractor Finance

Location Name: Lucknow

Job Purpose

"This position is open with Bajaj finance limited"

Plan, organize and control collections for PLCS Tier II Growth markets for Bucket 0 and Bucket 1 through efficient portfolio management and cost management; Develop forecasts for manpower and collections resolution planning

Duties And Responsibilities

PRINCIPAL ACCOUNTABILITIES

(Accountabilities associated with the job)

•  Collection planning – Monthly, six monthly and annual planning
  
  
  

 Analyze the AOP targets and determine aspirational targets; Spread the target across the calendar months to gradually increase resolution as per the location wise nuances

 Cascade the AOP and aspirational targets across the ZMs and RCM

 Review performance (POS resolution and POS flow) both region and location wise to identify poor performing areas and provide course correction inputs to improve collection efficiency

•  Forecasting Manpower
  
  
  

 Prepare manpower planning forecasts for collections based on business volumes, location requirements, etc.

 Engage with PLCS sales team and risk team to understand plans for new locations, sales contests and business volumes

 Determine impact of business volumes on delinquency and incorporate into manpower planning forecasts

•  Portfolio management
  
  
  

 Analyze the Account Receivables (AR) to understand percentage of FEMI bounce and conduct trend analysis of average percentage movements to evaluate the portfolio

 Identify gaps and determine areas of process lapse impacting higher percentage of FEMI; Highlight to Risk team for potential changes to the defined processes

 Review the loss number to ensure adherence to budget target and AOP; Identify areas of deviations and guide team to determine principle outstanding (POS) resolution and in turn the count level resolution to ensure minimal variance

•  Cost management
  
  
  

 Monitor the collections cost such as per receipt costing, penalty collections, etc.; in case of deviations closely review higher payout and impact on collections

 Review the collections agency metrics such as payout, penalty collections, penalty penetration, etc. to ensure alignment with company objectives

 Determine markets with opportunities to introduce and drive touch free collections (lower cost) through tele-calling

 Negotiate and finalize vendors providing tele-calling capability to drive the touch free collections

 Monitor penalty collection percentage, penalty penetration, etc. and drive penalty collections to contain the collections costs by better leveraging tele-calling efforts for collecting bounce charges, improve penalty penetrations, etc.

 Identify opportunities for introducing and deepening penetration of digital channel as waiver for online payment, charges for physical payment pick up, etc.

•  Vendor management
  
  
  

 Engage with the Hub Con (Regional level) and Telecalling (Pan India) vendors to develop relations and enhance alignment with company expectations

 Review the monthly allocation for vendors, day wise resolution for early resolution and referrals for non-contactable to field teams

 Conduct discussions with vendor representatives on payout and review performance

 Visit collection agencies (small vendors, direct collection agencies, etc.) to discuss process lapse and gain|6. Team development

 Implement reward and recognition mechanisms to motivate and engage the team to meet the objectives

 Participate in recruitment process to identify the right talent at various positions within the team

 Establish individual performance expectations and regularly review individual performance of the team

 Identify development opportunities for team members to enhance their functional knowledge

•   Team development
  
  
  

 Implement reward and recognition mechanisms to motivate and engage the team to meet the objectives

 Participate in recruitment process to identify the right talent at various positions within the team

 Establish individual performance expectations and regularly review individual performance of the team

•   Identify development opportunities for team members to enhance their functional knowledge
  
  
  

Required Qualifications And Experience

SKILLS AND KNOWLEDGE

(Minimum acceptable proficiency for this job which best indicates the education and/or experience requirements of this job and not the incumbent)

Educational Qualifications

•  Qualifications
  
  
  

 Post- graduation

•  Work Experience
  
  
  

 More than 10 years of experience

 Strong experience and practical knowledge of Collections (including tele-calling and field collection)