You should know what you are getting into when you apply for a debt recovery assistant job. It is not easy work but it is definitely interesting. And if you are someone who can deal with different kinds of people on varying levels, you will be great successes at being a debt recovery assistant.
As a debt recovery assistant, you will be reporting to the debt recovery manager or a business support manager, depending on the typical hierarchy of the organization that you are working for. To work at this position you have to be quite knowledgeable about business and financial practices. You also need to be firm with clients so that you can meet your objective properly – that is, to get people to pay what is owed to the company.
Debt recovery assistants work in many different types of organizations including banks and members of stock exchanges. Wherever there is need to recover money, there are debt recovery assistants to do the job. But actual recovery is not all that they do – they also handle a huge part of the administrative duties associated with this work. This may include making lists of defaulters and their contacts, creating correspondence and collecting information for follow up purposes.
To work as a debt recovey assistant, it is important to hold a degree relevant to the industry that you are working in. Typical duties that these people perform include:
Debt Recovery Assistant Job Description Sample
• Make lists of delinquent accounts and make sure that accurate information is available in them
• Create client name, address and telephone number lists for ease of calling or sending letters
• Call up clients to provide them information regarding outstanding balances in their accounts
• Create correspondence addressed to delinquent account holders to provide notices and ultimatums
• Design repayment plans according to company policies and protocols for clients willing to pay in installments
• Determine is debts are not collectable and either write them off or inform authorities for intervention purposes
• Conduct thorough research on old debt recovery cases and determine which ones can be followed up on
• Monitor payments to ensure that each delinquent account holder is held to his or her promise of repayment
• Physically collect checks and other payment instruments and post them to delinquent accounts
• Ascertain that receipts against each payment is issued and delivered to the client
• Perform data entry duties pertaining to entering information of payments and delinquencies in clients’ accounts
• Create and submit periodic reports about collections and write offs