Zonal Head - Corporate Recovery

Zonal Head - Corporate Recovery

A Zonal Head - Corporate Recovery typically manages the recovery of overdue or delinquent corporate loans within a specific geographic area. This role involves leading a team to minimize losses, achieve recovery targets, and ensure compliance with regulations. Responsibilities include developing and implementing recovery strategies, monitoring performance, collaborating with various departments, and managing relationships with clients and agencies.

Key Responsibilities:

Leading and Managing Recovery Teams:

- Supervising and guiding a team of recovery officers or managers to achieve individual and team targets.

Developing and Implementing Recovery Strategies:

- Creating and executing plans for recovering outstanding debts, including identifying appropriate collection methods and strategies for different types of accounts.

Monitoring and Analyzing Performance:

- Tracking key performance indicators (KPIs) related to recovery, such as recovery rates, delinquency rates, and NPA (Non-Performing Asset) levels, and identifying areas for improvement.

Collaboration and Coordination:

- Working closely with other departments like credit, legal, and operations to ensure a coordinated approach to recovery efforts.

Client Relationship Management:

- Maintaining contact with corporate clients to negotiate repayment plans, resolve disputes, and prevent further deterioration of accounts.

Legal Compliance:

- Ensuring all recovery activities are conducted in accordance with legal and regulatory requirements.

Vendor Management:

- Overseeing the performance of collection agencies and other vendors involved in the recovery process.

Reporting and Analysis:

- Preparing regular reports on recovery performance, highlighting key trends, and providing insights to senior management.

Training and Development:

- Providing guidance and training to the recovery team to enhance their skills and knowledge.

Skills and Qualifications:

- Experience: Significant experience in corporate banking, credit management, or debt recovery.

- Leadership Skills: Proven ability to lead and motivate a team.

- Analytical Skills: Strong ability to analyze data, identify trends, and develop effective strategies.

- Communication and Negotiation Skills: Excellent communication and negotiation skills to interact with clients and resolve disputes.

- Knowledge of Legal and Regulatory Framework: Understanding of relevant laws and regulations related to debt recovery.

- Problem-Solving Skills: Ability to identify and resolve complex issues related to delinquent accounts.