iMasFinance Co-operative (Ltd)
Job Details
Division
iMasFinance
Business Unit
Asset Recovery and Disposal
Minimum experience
Associate
Company primary industry
Financial Services
Job functional area
Functional Area
Job Description
Job Purpose: Responsible for the formulation of operational strategies and the creation of administrative capabilities relating to the successful recovery and disposal of vehicles in the arrears portfolio of the organisation. The role further requires the implementation of programmes and the creation of infrastructure to operate an effective and efficient function as part of the overall debt collection function. This complex environment is managed through internal agents and a network of external services providers.The role is responsible, under limited direction, for managing and training agents, setting objectives, assigning cases, updating internal standard operating procedures, ensuring document quality control, and other activities related to overseeing the operations of a highly functioning department. Essential functions:Monitor key performance indicators and incoming workload of agents to maximize productivity, efficiency, compliance, and service levels, and minimize losses resulting from the upliftment and disposal of assetsImplementation of account portfolio management principles and ensure accounts are timeously allocated, both internally and externally.Coach and hold agents accountable for agreed timeliness, accuracy of work conducted, and completeness of work concluded, and ensure compliance to standard operating procedures and policiesRecruitment and retention of competent agentsRegular monitoring of cases and the performing of quality reviews on high profile cases to ensure the appropriate actions are taken by agents and external debt collectors resulting in the timeous disposal of vehiclesPrepare and analyse productivity reports, identify trends and issues, and provide appropriate status updates to senior management.Creation and contracting of an effective panel of external debt collectors and auctioneers to assist iMas with the upliftment and disposal of vehicles.Manage performance of externals service providers against clear agreed criteriaMaintain solid relationships with external services providers in line with agreed service levels.Where practical attending auctions to ensure the best outcomes is obtained for vehicles auctioned.Manage process to ensure correct classification of assets as well as fair values before vehicles are disposed of at auctionsManage vehicle stock to account for all vehicles uplifted and with various external service providersImplementation and management of transparent procurement and supplier payment practises and proceduresIdentify and stay current on changes in industry regulations and recommend changes to internal policies, procedures, and systems to incorporate new/changed requirements.Manage projects that encompass improvements and modifications to current processes, implementation of new processes, and skills training.Respond to and coach team members on issues that represent higher risk and/or fall outside of scope of their normal responsibilityProvide input to the department’s budgetPerform daily and monthly reconciliations on control accounts in the general ledgerEvaluation and recommendation of amounts to be written-off as uncollectablePreparation of monthly management information and operational reporting Qualifications:Matric (essential/minimum)Degree / Diploma in Finance or Credit ControlManagement as subject (recommended/desirable)Valid driver’s licence (essential/minimum)Experience:3 to 5 years of operational experience in a credit Control environment (Preferably bank environment / financial institution) role (with formal qualification).Knowledge and Skills:Expert-level knowledge of vehicle upliftment and disposal, defaults and bankruptcies, including overall processes and inter-relationships, standards and requirements, supporting documents, terminology, compliance and regulatory requirements related to functional area(s) of expertise and supervision.Ability to work in an emotionally demanding role that requires patience and professionalism while interacting with consumers experiencing financial and emotional stressHighly organized and detail oriented; ability to work in a fast-paced, deadline-driven environment required.Basic math skills required.Financial acumen especially specialist knowledge of Credit Control, financials profitability and asset recovery.Knowledge of the vehicle industry, vehicle types as well as basic vehicle mechanical functionsRelationship Management skills (internal and external);Problem solving ability; Able to take calculated risksPeople management and development skillsProficiency with data entry, Microsoft Word, Excel and Outlook required
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