Head of Recovery & Specialized Collection, Singapore

Standard Chartered

Bukit Jalil, Kuala Lumpur
Permanent
Full-time

2 months ago

Role ResponsibilitiesJob SummaryDelivering and achieving assigned recovery targets. Implementing new strategies and tactics to improve recovery performance, training and coaching staff to improve performance; drive performance and manage governance of external collection agencies; manage specialized collections. Oversees bottom line metrics including forecasting.Responsibilities
To manage and control collections activities associated with Unsecured portfolio in order to minimise net credit lossesStrategy

Awareness and understanding of the Bank’s business strategy and model appropriate to the role. In addition, to implement account strategy to ensure the facility outstanding is recovered or the account is rehabilitated to a satisfactory status for BB and ME problem accounts.

Business

Awareness and understanding of the wider business, economic and market environment in which the Bank and the companies operate in.
Keep abreast with the macro economic factors impacting the economy to ensure the team is adequately resourced and minimize / mitigate any upcoming risks
Deliver on financial goals – Gross Charge Off, Recoveries, Delinquency rates and cost
Work closely with the Product and Credit policy teams to ensure sharing of timely feedback so that timely appropriate actions can be taken by the different functions to tighten risk appetite, if necessary

Functional Management

Have an oversight to ensure teams are fully focused on daily production execution.
Meeting operational key performance indicators, improving efficiency, minimising complaints and improving overall customer experience.
Identify, develop and continuously improve processes to ensure overall efficiency in terms of customer contact and collection techniques.

Processes

To ensure effective utilization of resources with objectives of minimizing credit losses, maximizing recovery and managing costs.
Review and ensure adequate and accurate collections performance & cost MIS and KPIs are in place and prepared in a timely manner, to facilitate performance management of the Collections Department
Responsible for preparing the plan to deliver on Loan Impairment budget for the year.

People & Talent

Employ, engage and retain high quality people
Lead through example and build the appropriate culture and values within the Function and across the wider organization.
Ensure the provision of ongoing training and development of people and ensure that holders of all critical functions are suitably skilled and qualified for their roles ensuring that they have effective supervision in place to mitigate any risks
Ensure there is a training plan for the team to upskill and drive performance

Risk Management

The ability to interpret financials and the account performance of a company, identify key issues based on the information, put in place an account strategy to recover outstanding ad then either exit or return the company to normal status for ME problem accounts.
Minimize credit losses, maximize recoveries
Resolution of complaints from clients and MAS
Making optimal use of all collection tools and using analytics and data segmentation to enhance collection efficiency.
To ensure that portfolio analysis conducted by the Credit team is fully leveraged for collections activity.

Governance

Be robust and support scale, drive standardization and automation.
To ensure that all collections activities are carried out in compliance with the agreed standards and with due recognition of the regulatory guidelines within the country and the overall OR framework.
Liaise with Collection & MIS Hub where appropriate to maximise benefits of centralisation.
Uphold customer engagement and conduct principles of during customers interactions.
Ensure adherence to the OR Assurance Framework in the identification, assessment, mitigation and control and monitoring of risk.
Ensure adequate traction, track and follow through management actions to mitigate identified operational risks exposure.

Regulatory & Business Conduct

Display exemplary conduct and live by the Group’s Values and Code of Conduct.
Take personal responsibility for embedding the highest standards of ethics, including regulatory and business conduct, across Standard Chartered Bank. This includes understanding and ensuring compliance with, in letter and spirit, all applicable laws, regulations, guidelines and the Group Code of Conduct.
Lead the Singapore / GSF Risk CPBB - Collections to achieve the outcomes set out in the Bank’s Conduct Principles: [Fair Outcomes for Clients; Effective Financial Markets; Financial Crime Compliance; The Right Environment.] *
Effectively and collaboratively identify, escalate, mitigate and resolve risk, conduct and compliance matters.

Key stakeholdersInternal

Product Manager
Other Collection Managers / Officers
Credit Initiation
Fraud Control Unit
Credit Policy / Risk Manager
Quality Assurance
Finance
RRS MI Collections
GBS – IN
HR
Legal & Compliance
Operations
CDD
Operational Risk

External

Law firms
Private trustees
Valuers
Auctioneers

Repo agencyOther Responsibilities

To have an oversight and/or manage a portfolio of impaired accounts for BB and ME segments.
To manage external collection agencies.
To manage Foreclosure process and collection governance.
To assemble, lead and co-ordinate cross functional “SCB deal teams” (e.g Legal, Corporate Finance, Corporate and Institutional Banking, Commercial Banking, Product Areas, ITO etc) to leverage organisational capabilities and expertise with a view to optimize account strategies and ensure their successful execution.
To manage potential litigation and regulatory risks that may arise in connection with accounts under responsibility.
To represent SCB and protect its interests in complex Group and or multi – lender situations, by participating and taking an active role in forums such as lender coordinating committees etc.
To engage in the review of potentially problematic (EAR) accounts by recommending pre-emptive actions and timely down grades.
To ensure MIS integrity of data relating to the accounts in the portfolio through the Amadeus / Risk View process and other reports.
To assess and continually actively monitor the level of provisions for the accounts in the portfolio, ensuring compliance with Group policies and regulatory requirements.
To manage reporting of information to external auditors and regulations ensuring compliance with internal and regulatory policies and guidelines.
Perform any ad hoc task assigned by Manager

Our Ideal Candidate

A Bachelor's degree.
Minimum of 10 years of experience in leading Recovery teams across all retail products, managing foreclosure/repossession.
Well versed with Dialer and Collection/Recovery strategy.
Attentive to detail, understands processes and local regulations, and keeps the unit audit ready all the time.
Experienced in managing big and diverse teams.
Is foresighted, able to see the big picture and align the unit’s deliverables with the organizations objectives.
Good stakeholder management skills.
Outstanding communication skills, both oral and written.
Should have good presentation skills (excels in PowerPoint).
Outstanding project management and analytical skills with an ability to multi-task and manage competing priorities with a track record in creative and successful problem-solving.
Highly entrepreneurial with a high level of energy, dedication and an unrelenting drive to deliver value.

Role Specific Competencies

Communication Skills
Collections Process
Product Knowledge
System Knowledge
Complaint Handling
Analytical Thinking
Problem Solving
Presentation Skills

About Standard CharteredWe're an international bank, nimble enough to act, big enough for impact. For more than 160 years, we've worked to make a positive difference for our clients, communities, and each other. We question the status quo, love a challenge and enjoy finding new opportunities to grow and do better than before. If you're looking for a career with purpose and you want to work for a bank making a difference, we want to hear from you. You can count on us to celebrate your unique talents. And we can't wait to see the talents you can bring us.Our purpose, to drive commerce and prosperity through our unique diversity, together with our brand promise, to be here for good are achieved by how we each live our valued behaviours. When you work with us, you'll see how we value difference and advocate inclusion. Together we:

Do the right thing and are assertive, challenge one another, and live with integrity, while putting the client at the heart of what we do
Never settle, continuously striving to improve and innovate, keeping things simple and learning from doing well, and not so well
Be better together, we can be ourselves, be inclusive, see more good in others, and work collectively to build for the long term

In line with our Fair Pay Charter, we offer a competitive salary and benefits to support your mental, physical, financial and social wellbeing.

Core bank funding for retirement savings, medical and life insurance, with flexible and voluntary benefits available in some locations
Time-off including annual, parental/maternity (20 weeks), sabbatical (12 weeks maximum) and volunteering leave (3 days), along with with minimum global standards for annual and public holiday, which is combined to 30 days minimum
Flexible working options based around home and office locations, with flexible working patterns
Proactive wellbeing support through Unmind, a market-leading digital wellbeing platform, development courses for resilience and other human skills, global Employee Assistance Programme, sick leave, mental health first-aiders and all sorts of self-help toolkits
A continuous learning culture to support your growth, with opportunities to reskill and upskill and access to physical, virtual and digital learning
Being part of an inclusive and values driven organisation, one that embraces and celebrates our unique diversity, across our teams, business functions and geographies - everyone feels respected and can realise their full potential.

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