VP & Head of Collections- Mortgages

To manage the collection function and lead the collections team towards the efficient and effective collections of allocated retail asset products, monitoring of delinquencies and identification of risk in order to ensure net flows targets are met and provisions are minimized.

KEY ACCOUNTABILITIES:

Strategic Contribution

• Ensure effective cascading of the functional strategy into department business plans to ensure vertical alignment and horizontal integration with other interfacing departmental strategies.

People Management

• Manage the effective achievement of assigned objectives through the leadership of the Collections department by setting of individual objectives, managing performance, developing and motivating staff to maximise departmental performance.
• Lead the talent development initiatives for the assigned department, collaborating with technical/discipline experts and thereby ensure the availability of talent to fit business requirements.
• Act as a role model and drive adherence to organisational values and ethics by employees of the assigned department to foster a value driven culture within the Group.

Budgeting and Financial Planning

• Manage the preparation of the department budget and monitor financial performance versus the budget while ensuring all departmental activities are conducted in line with the approved guidelines.
• Manage and ensure effective implementation of Credit & Collections Personal Banking functional policies, procedures and controls covering all areas of assigned department activity so that all relevant procedural/legislative requirements are fulfilled while delivering a quality, cost-effective service.

Portfolio Analysis Recommendations & Enhancements

• Manage the process of conducting analysis on the non-performing loans, ascertain the legitimacy of the claim and institute the collections process accordingly.
• Conduct detailed portfolio analysis in order to advise management on portfolio trends to facilitate informed decision making in order to minimize credit losses.
• Manage the monthly loss provisioning, contractual and early write off recommendations in line with defined regulatory standards and Bank's policies and procedures.

Collections Management

• Lead development and drive implementation of the collections plans and settlement of credit facilities in order to ensure collection targets (budget / forecast provision and net flow numbers) are achieved.
• Oversee the collection process, review the collection reports on a daily basis, MIS and analytics to address performance issues and to ensure efficient and effective operations within operating standards and in adherence to the bank's code of conduct, policies, procedures and regulations.
• Oversee engagement with collection agencies and partners to drive performance and ensure alignment to Bank's policies and regulatory guidelines.
• Monitor legal environment on an ongoing basis to ascertain possible impact on collections related activities and safeguard the Bank's interests.
• Provide feedback to Consumer Banking Group and Credit Initiation teams on portfolio quality and collection performance to inform decision-making and capitalize on improvement opportunities.
• Establish an ongoing working relationship with Remedial Management & Recoveries to ensure the handover of accounts in a timely, efficient and effective manner.
• Oversee review and update of existing systems and process to ensure adequate operational support is provided in the collection of due payments.
• Oversee the preparation of a detailed collections dashboard in order to allow individual businesses to take adequate steps to achieve collection targets. This includes the preparation of detailed collection targets for different businesses based on monthly delinquency buckets in order to facilitate businesses to prepare detailed action plan for collection.

Performance Monitoring

• Oversee the compilation and evaluation of monthly statistics concerning the number of accounts in collection, the amounts collected, and the amounts that remain to be collected in order to prepare monthly departmental summaries for individual businesses and senior management for further action.
• Monitor the effectiveness of the staff incentive plan in collaboration with the Business Management team and ensure the incentive plans contribute to the achievement of the Annual Operating Plan (AOP).
• Maintain relationships with large companies to follow up on the outstanding amounts owed by their employees (e.g., personal loan) and collect full outstanding amount.
• Manage relationships with relevant authorities to ensure that all cases of fraud are handled promptly and within the legal framework of the local courts.
• Liaise with international collection agencies to recover outstanding amounts from defaulting customers who have fled United Arab Emirates.
• Keep in touch with relevant authorities, including law enforcement agencies and external lawyers and keep the unit updated on any changes anticipated in the regulatory / legal scenario of the country.
• Ensure collaboration with the auditors and risk management to ensure that all concerned parties are updated and informed with all collections and the department is in compliance with regulatory and legal requirements.
• Lead the identification of opportunities for continuous improvement and sustainability of systems, processes and practices considering global standards, productivity improvement and cost reduction.

Reporting

• Ensure that all department reports are prepared timely and accurately and meet Group requirements, policies and quality standards.

Desired Candidate Profile

Qualifications

• Bachelor's degree in Finance or related discipline.
• Master's degree in Business Administration or related discipline is preferred.
• UAE National with Family Book
• 10 years relevant experience in the banking sector with at least 4 years in similar positions of progressively increasing managerial responsibilities in the Collections function.

Company Industry

• Banking
• Broking

Department / Functional Area

• Insurance
• Surveying
• Actuary

Keywords

• VP & Head Of Collections- Mortgages (Emiratised Role)