Senior Officer, Collections (UAE National)

Job Description

Job Purpose:

Work jointly with the Head of Collections to manage and direct collection and remedial processes within EDB by ensuring follow up with non-performing clients for the settlement of their dues and follow up with delinquent asset collection in order to minimize any potential losses to the bank and maximize cash collection and recovery of delinquent assets as early as possible.

Key Roles & Responsibilities:

• Administer the delinquent and NPL portfolios in the bank handed over by Relationship Managers to minimize delinquencies and NPL and maximize cash collection and recovery.
• Work on the development and implementation of early warning systems that highlight possible deterioration in the credits granted for initiating timely corrective action in order to ensure efficiency in collection.
• Ensure prompt contact is made with delinquent customers at an early stage itself to prevent accumulation of overdue balances.
• Ensure proactive steps are taken to collect overdue amounts on a timely basis in conjunction with the Relationship Managers to prevent occurrence of major losses.
• Jointly handle negotiations of large amounts/ problematic cases with the delinquent customers and negotiations involving high profile customers personally.
• Mitigate credit loss and preserve value by taking appropriate action on a case-by-case basis. This include actions related to field visits and legal actions.
• Ensure that the Legal Department is consulted regarding potential problematic cases/ slow paying accounts and provide the required documentation so that timely action can be initiated for recovery of the overdue amounts.
• Provide quarterly and ad hoc recommendations regarding classification and provision decisions and prepare specific provisions for NPLs.
• Follow-up on the progress on civil/ criminal actions filed against defaulting customers through liaison with the Legal Department and the state police authorities.
• Keep the Head of Collection and team informed of significant Credit Collections related issues that may jeopardize the achievement of Bank goals.
• 1Prepare monthly and quarterly reports for Top Management and Regulatory Authorities and Agencies, as and when applicable.
• Coordinate with the Head of Collections to manage any outsourcing of collection / remedial including external legal actions in case the bank opted to outsource any of its collection / remedial efforts.