Debt Collection Supervisor at SUVACOR

SUVACOR Limited is looking for a Debt Collection Supervisor to assist with the collection of outstanding debts. The Debt Collections Supervisor will be responsible for managing customer credit terms, negotiate payment plans, ensure on time collections of receivables, reminding customers of their overdue, and ensure collection of outstanding debts from customers making sure payments are made as soon as possible. This role is crucial for ensuring the financial health of our organization and to help improve business cash flow.

Collection Officer Responsibilities:

• Establishing payment plans for all accounts that have unallocated payments plans
• Checking customer's credits making sure that all credit terms are followed by customers.
• Approving or denying credit limit requests, based on the company credit policy
• Maintain an overview of all customer accounts, ensuring that they credit terms reflects their internal payment policy and are settled according to agreed terms.
• Tracking payments, sending reminders, and initiating further collection actions if necessary.
• Negotiating payment plans with customers who defaults on their credit terms
• Reaching out to individuals or businesses with overdue accounts.
• Addressing customer complaints and concerns related to the debt, aiming for amicable resolutions.
• Keeping accurate and detailed logs of all interactions with debtors, payment information, and collection progress.
• Providing regular updates on the status of outstanding debts, collection efforts, and any challenges encountered.
• Ensuring all collection activities comply with relevant laws and regulations, including those related to data privacy and fair debt collection practices.
• Keep records of all customer communications to build individual debtor cases.

Qualifications and Experience:

• Communication Skills: Excellent verbal and written communication for interacting with debtors and building rapport.
• Negotiation Skills: Ability to negotiate payment plans and resolve disputes effectively and convincing customers to meet their financial commitments
• Problem-solving skills: To be able to identify and resolve issues related to overdue accounts.
• Organization and Detail-Oriented: Ability to maintain accurate records and managing multiple accounts with different credit terms
• Knowledge of Debt Collection Laws: Understanding relevant laws and regulations related to debt collection to avoid any legal conflicts with customers.
• Empathy and Professionalism: Diplomacy for discussing sensitive matters tactfully
• Bookkeeping and numeracy: Ability for determining outstanding payments and appropriate payment instalments
• Understanding of financial terms: credit services, debt recovery procedures, data protection and the Financial Conduct Authority's principals of treating customers fairly
• Proficiency with database software
• Familiarity with accounts receivable procedures and reconciliation of month-end accounts.
• Patience and the ability to remain calm in stressful situations

Experience:

• A degree in business, finance or accounting.
• Excellent Customer Service experience as Debt Collectors spend most of their time talking to customers.
• Background in money management and credit analyzing.
• Previous experience working as a Collections Officer, Sales Administrator, Debt Collection Agent or a similar position.