JOB TITLE: COLLECTIONS ADVISOR
SALARY: £20K - £22K PLUS BONUS
OBJECTIVE OF JOB
- To assist in the identification and collection of arrears across the business.
- To provide the administrative services required to control and remedy cases of customer arrears and default.
MAIN ACTIVITIES / TASKS
- To carefully monitor new and existing arrears cases.
- To actively chase all SPR rentals and ensure relevant sales proceeds % paid and sales invoice/scrapping form received/completed accurately.
- In cases of arrears occurring due to administrative error, take corrective action.
- Initiate standard procedure to remedy arrears cases, as per the sectoral collections strategies.
- Ensure arrears payments are correctly matched against rentals and fees.
- Maintain close communication with relevant field staff and Sector Heads.
- Respond accurately to general queries regarding arrears cases from both customers and internal staff.
- To handle and process Novation and Re-schedule requests from customers and internal departments.
- To reply to and initiate any arrears correspondance, including the issuing of standard chase letters, Default and Termination Notices.
- Report on any major arrears or default cases to Collections Manager and Sector Head.
- Present a full review of all 'formula provision’ arrears cases on a monthly basis.
- To maintain 'formula provision’ at a minimum level.
- Assist in possible asset disposals procedure at the end of primary lease period.
- Issuing of Repossession Instructions and maintaining close contact with repossession agents.
- Arrange for repossessed assets to be brought back to the business to a venue agreed with Sector Head. Ensure relevant details passed onto UKD.
- If required, work closely with Sector Head to arrange disposal of repossessed assets to Third Party.
- Process Repossession Agents invoices promptly and accurately.
- Administer voluntary surrender procedure to make sure customer fully aware of legal obligations and assets safely delivered back to UKD.
- Handle all Insolvency cases rapidly and accurately, ensuring our assets are safely stored, insured and made available for collection.
- To actively charge and collect Additional Fees where appropriate.
- Monitor unmatched cash report, arranging for payments to be coded appropriately.
- Call customer for arrears.
- Send copy of Invoices.
- Log workflow and if not resolved within 2 weeks transfer to collections Team 1.
- Aquis Queries
- Filing, scanning and photocopying.
- System Reconciliations.
- Any other ad-hoc duties as required by your Line Manager
- Responsible for adhering to policies, procedures, guidelines and the internal control framework established to guide the operation of their function in addition to regulatory compliance requirements.