Job Title
Recovery Executive / Collection Executive
Department
Collections / Recovery / Finance
Reporting To
Collection Manager / Branch Manager / Area Recovery Manager
Job Summary
A Recovery Executive is responsible for collecting overdue payments from customers who have taken loans, credit cards, vehicle loans, personal loans, or other financial products. The role involves contacting customers, negotiating repayment plans, maintaining collection records, and ensuring timely recovery of outstanding dues.
Key Responsibilities
Payment Collection
- Contact customers with overdue payments.
- Remind customers about pending EMIs, loan installments, or bills.
- Follow up through phone calls, SMS, emails, and field visits.
- Ensure timely collection of outstanding amounts.
Customer Visits
- Visit customers’ residences or workplaces when required.
- Verify customer details and payment status.
- Meet customers professionally and explain repayment obligations.
Negotiation & Settlement
- Discuss repayment options with customers.
- Negotiate installment plans for customers facing financial difficulties.
- Assist customers in clearing dues through settlements when approved by the company.
Documentation & Reporting
- Maintain collection records and customer interaction reports.
- Update payment status in company systems.
- Submit daily, weekly, and monthly recovery reports.
Coordination
- Coordinate with branch staff, sales teams, and finance departments.
- Report difficult cases to senior management.
- Assist legal teams in recovery-related cases when necessary.
Daily Activities
A typical day may include:
- Reviewing overdue customer accounts.
- Calling customers regarding pending payments.
- Visiting customers in assigned locations.
- Updating collection records.
- Preparing recovery reports.
- Coordinating with branch managers and collection teams.
Required Qualifications
Educational Qualification
- Intermediate (10+2) or Degree
- Any stream can apply
Experience
- Freshers can apply in some companies.
- Experience in collections, sales, banking, finance, or customer service is preferred.
Required Skills
Technical Skills
- Basic Computer Knowledge
- MS Excel
- Data Entry
- Mobile Applications used for collection tracking
Soft Skills
- Communication Skills
- Negotiation Skills
- Persuasion Skills
- Problem Solving
- Customer Handling
- Time Management
Additional Requirements
- Valid Driving License
- Two-Wheeler (often preferred)
- Willingness to travel within assigned areas
- Knowledge of local language (Telugu)
Industries Hiring Recovery Executives
- Banks
- NBFCs (Finance Companies)
- Microfinance Institutions
- Credit Card Companies
- Vehicle Loan Companies
- Gold Loan Companies
- Consumer Finance Companies
Examples:
- HDFC Bank
- ICICI Bank
- Axis Bank
- Bajaj Finance
- Muthoot Finance
- Manappuram Finance
Working Hours
- Usually 9:00 AM to 6:00 PM
- Field work is common
- May involve travel within Narasaraopet and nearby villages
Salary Range (Andhra Pradesh)
| Experience | Monthly Salary |
|---|---|
| Fresher | ₹15,000 – ₹20,000 |
| 1–3 Years | ₹20,000 – ₹35,000 |
| Experienced | ₹35,000 – ₹50,000+ |
Additional Benefits:
- Incentives on collections
- Fuel Allowance
- Mobile Allowance
- Performance Bonuses
Job Category: finance sector
Job Type: Full Time
Job Location: narasaraopeta Palnadu