Collections and Recoveries Officer
Shawbrook is a specialist UK lending and savings bank founded in 2011 to serve the needs of SMEs and individuals in the UK with a range of lending and savings products.
We differentiate ourselves by concentrating on markets where our specialist knowledge and personalised approach to underwriting offer us a competitive advantage. This supports attractive stable returns and sustainable growth and benefits businesses and consumers in parts of the market which continue to be poorly served by traditional high street banks. Fundamental to our success is a relationship focus which puts the interests of our customers and business partners at the heart of everything we do, built on a culture which stresses the use of our experience and judgement to make decisions that balance risk, return and customer need.
We are looking for a Collections and Recoveries Officer to support the Collections Manager and proactively manage cases of arrears offering solutions to mitigate losses while delivering a fair outcome to our Customers. The role holder will have to ensure that actions are being taken to mitigate against losses from bad debt whilst complying with the regulatory requirements the bank operates within.
- Responsible for identifying customers’ needs in relation to forbearance, establishing their ability to repay and report and escalate any customer considered vulnerable.
- Monitor arrears and escalate any cases in respect of potential provisions to the Collections Manager in a prompt and effective manner.
- To proactively review collections and recoveries cases and feedback findings in relation to front end lending decisions and trends relating to brokers, making recommendations where appropriate.
- Select appropriate standard correspondence to Hirers regarding arrears through to Notice of Default and Termination when necessary in accordance with the provisions of the Consumer Credit Act, where applicable.
- Communicate and escalate potential issues/risks to the Collections Manager and/or the Head of Collections and Recoveries, Business Finance in a prompt and effective manner.
- Carry out credit searches on customers using approved third parties where appropriate.
- To provide recommendations for improvements to processes, systems, procedures and controls.
- Ensure that the customer is treated fairly at all times.
- Provide administrative support such as managing a generic mailbox, adding asset valuations and other ad-hoc duties.
- Proven experience in dealing with collections/litigation accounts in a banking environment (Minimum 2 years)
- Understanding and awareness of Data Protection Act and legislative requirements.
- Knowledge of Microsoft Office applications and able to build reports and carry out spreadsheet analysis.
- Knowledge of compliance procedures within Financial Services.
- Negotiating and influencing skills.
This role is an SB5 within Shawbrook’s internal banding structure