Advanced credit controller and debt collection specialist (2024)

Credit Manag’t and debt collection

Good understanding of the principles of credit management and debt collection together with a sound understanding of organisational policies and techniques used in their role.

Legal, regulatory and compliance

Good understanding of the legal, regulatory, risk and compliance framework within which they operate, with a sound understanding of relevant legal, risk and compliance requirements for their role, e.g. relevant commercial or consumer credit law, credit management policies, data protection, treating customers fairly, complaints handling, potentially fraudulent transactions, including anti-money laundering arrangements and relevant financial and/or sector regulatory requirements depending on the focus of their role.

Industry and organisation understanding

Understands professional standards; the commercial context, nature and priorities of the organisation they work in; the end to end customer journey; how customers manage their money, e.g. as individuals or businesses; organisational ‘values’; and where their role fits in the organisation. Understands the different areas of the organisation that they need to work with to deliver the best solution for the customer and business, and the nature of interactions with them, e.g. with Sales, Customer Services, Underwriting.

Products and services

Broad understanding of the products and services offered to customers by their organisation, together with sound knowledge of the products and services that they support, including their features and benefits, together with how their role supports the delivery of these products and services.

Systems and processes

In-depth understanding of the systems, tools and processes used in the role (see examples in the Standard), together with the standards to be met, including IT tools..

Managing relationships with customers

Delivers excellent service, identifying and meeting customer needs. Develops strong, positive and sustained relationships with customers, recognising the business context of their relationship and their importance to the organisation while dealing with a difficult topic. Uses questioning effectively to fully understand the customer’s financial situation or specialist needs and requirements(as identified through triggers or other recognised frameworks) and develop acceptable solutions. Able to identify, defuse, resolve difficult and sensitive and/or vulnerable situations professionally when they occur, e.g. relationship breakdowns, fraud, disputes, mental health problems, insolvencies, working to sustain a positive relationship with the customer.

Communication

Actively listens to understand the customer’s circ*mstances. Communicates effectively with customers and colleagues at all levels, building rapport and defusing emotive situations. Uses sound interpersonal skills, a range of media, e.g. phone, email, SMS, letter and face-to-face and appropriate language, e.g. avoiding jargon.

Uses a range of negotiating skills to work with customers to identify mutually acceptable solutions and outcomes to credit and debt issues, within organisational and compliance guidelines, e.g. negotiating sustainable repayment plans. Follows through and re-negotiates sensitively in difficult situations, e.g. defaults. Takes ownership through to resolution, escalating where necessary.

Delivering results

Uses a wide range of systems and processes to deliver services to customers. Takes the initiative to meet challenging individual and team performance measures in line with organisation policy, values, standards and legal and/or regulatory requirements. Carries out a range of tasks which may include proactive contact with customers to collect outstanding balances and/or debt; cash allocation, journals and reconciliations; managing ledgers; producing required reports; maintaining accurate records of communications and actions; dispute resolution; actioning and/or recommending write offs. Plans and organises work to meet their commitments and/or KPIs. Takes ownership through to completion, escalating when outside the boundaries of their role, e.g. potential legal issues, customers in vulnerable situations.

Teamwork

Consistently supports colleagues and collaborates to achieve results. Builds and maintains good working relationships within teams and with other business areas, e.g. Sales, Compliance and Quality team. Aware of own role in the team and the impact on others.

Continuous improvement

Identifies opportunities to improve work practices. Takes ownership of specific changes through to implementation where appropriate

Personal development

Seeks feedback and acts on it to improve their performance. Builds their own capability through ownership of their own development, in consultation with their manager. Keeps up to date with relevant changes. Supports others in their development through mentoring and coaching where appropriate.

Integrity

Truthful, sincere and trustworthy in their actions. Shows integrity by doing the right thing. Maintains appropriate confidentiality at all times.

Flexibility

Adapts positively to changing work priorities and procedures when new tasks need to be done or business requirements change.

Resilience

Displays energy and enthusiasm in the way they go about their role, dealing positively with setbacks when they occur. Stays positive under pressure.

Regulatory and organisation requirements

Understands the business environment, regulatory requirements and organisational policies and/or procedures that provide the framework for assessing credit risk. Understands and know how to use relevant information and specialist tools.

Analysis and decision making

Able to review and analyse customer applications, seek additional information where necessary and make decisions on credit limits in line with regulatory and organisational requirements, referring upwards where necessary.

Technical requirements

Understands the detailed technical requirements and organisational policies and/or procedures that apply to their role. (For a Commercial role this may include understanding and interpreting contractual and company information, including accounts; dealing with multi-site organisations. For a Consumer role this may include understanding income and/or expenditure information; multiple debt situations; how to identify and handle vulnerable customers).

Managing complex relationships

Able to deal with relatively complex customer relationships, resolving issues (including complaints) and making recommendations outside standard processes where the customer’s situation requires this. (For a Commercial role this may include dealing with significant corporate or other third party relationships. For Consumer roles this may include dealing with customers in vulnerable circ*mstances identifying their ‘state of mind’ and developing appropriate solutions with them.)

Regulatory and organisation requirements

Understand the legal and/or regulatory requirements and organisational policies and/or procedures that provide the framework and trigger points for enforcement and/or recovery action. Know the range of options, both internal and external, that are available.

Analysis and decision making

Able to review and analyse the customer’s situation and make decisions on appropriate enforcement and/or recovery action in line with regulatory and organisational requirements. Takes decisions that maximise the outcome for the organisation and are appropriate given the customer’s engagement.