Tele Collection Executive - Personal Loans - On Direct Payroll Job Description Template
In this role, you will handle outbound and inbound calls to collect payments on overdue personal loans. You will negotiate payment arrangements, provide excellent customer service, and ensure all interactions comply with legal and company policies. This role requires excellent communication skills and an ability to handle difficult conversations tactfully.
Responsibilities
- Make outbound collection calls to customers with overdue personal loans.
- Handle inbound calls and respond to customer inquiries regarding loan payments.
- Negotiate payment arrangements and terms with customers.
- Track and document all collection activities in the company's system.
- Ensure compliance with federal and state laws regarding debt collection.
- Resolve customer disputes and issues in a professional manner.
- Meet monthly collection targets and contribute to team performance goals.
Qualifications
- High school diploma or equivalent; college degree preferred.
- Previous experience in tele-collections or a similar role.
- Strong understanding of loan and debt collection regulations.
- Excellent verbal communication and negotiation skills.
- Ability to manage conflicts and handle stressful situations.
- Strong organizational and time management skills.
- Proficiency in using CRM software and basic MS Office applications.
Skills
- Debt Collection
- Customer Service
- Negotiation
- CRM Software
- Time Management
- Conflict Resolution
- MS Office Suite
Frequently Asked Questions
A Tele Collection Executive specializing in personal loans and employed on direct payroll is responsible for contacting borrowers to remind them of upcoming or overdue payments. They work to negotiate settlements on delinquent accounts, provide information on repayment options, and maintain accurate records of communications and transactions. This role is essential for ensuring timely payments and reducing defaults.
To become a Tele Collection Executive, candidates typically need a high school diploma or equivalent. Employers also look for excellent communication skills, particularly in handling difficult conversations. Experience in customer service or call centers can be beneficial. While specific qualifications may vary, this role typically requires training in collections processes and compliance with financial regulations.
The average salary for a Tele Collection Executive working with personal loans on direct payroll can vary significantly depending on factors such as the employer, location, and experience level. However, candidates can expect to earn a competitive salary often supplemented by performance-based bonuses and incentives, reflecting their success in recovering outstanding debts.
Qualifications for a Tele Collection Executive often include a high school diploma and strong communication skills. Some employers may prefer candidates with prior experience in collections or customer service. Additionally, knowledge of personal loan products and familiarity with financial compliance regulations can enhance a candidate's prospects for this position.
Essential skills for a Tele Collection Executive include strong communication, negotiation, and problem-solving abilities. They must manage accounts, handle sensitive financial data, and adhere to compliance standards. Responsibilities entail contacting borrowers, advising on payment solutions, tracking payment progress, and achieving recovery targets, all while maintaining professional and empathetic customer service.