Job Summary:The role of a Collection Officer in an NBFC (Non-Banking Financial Company) or MFI (Microfinance Institution) with responsibilities related to fieldwork, customer follow-up, visiting dealers, recovery, and generating leads can be broken down into several key tasks. Here are the detailed roles and responsibilities:Customer Interaction: Visit customers in the field to follow up on overdue loans and payments.Monitoring Loans: Conduct field visits to ensure loans are being utilized appropriately, verifying the customers financial situation and ensuring they comply with loan terms.Collecting Payments: Directly collect overdue payments from customers in the field, either in cash, through cheques, or other approved methods.Documentation: Maintain accurate records of payments received, loan status, and customer interactions during field visits.2. Customer Follow-Up:Payment Reminder: Contact customers regularly through phone calls, SMS, emails, or personal visits to remind them of due payments.Negotiate Payment Terms: Work with customers to negotiate revised payment plans if they are facing financial difficulty, ensuring adherence to the institution's policies.Customer Relationship Management: Foster good relationships with customers to ensure timely repayments and to resolve disputes or issues amicably.3. Visiting Dealers:Dealer Follow-Up: Ensure that dealers selling financial products (e.g., loans, insurance, etc.) follow the terms of agreements and repay loans or dues on time.Visiting Dealers for Collections: If dealers have outstanding dues, follow up and collect payments by visiting their locations, ensuring that any outstanding dues are cleared.4. Recovery:Debt Recovery Process: Follow the institution's debt recovery process to recover overdue payments, which may involve legal action if needed.Negotiating Settlements: For delinquent accounts, negotiate with customers or dealers to arrive at a resolution, possibly offering settlements or restructuring loans.Reporting: Update supervisors regularly on the progress of debt recovery and provide feedback on any challenges faced in the field.5. Generating Leads:Lead Generation: Identify potential customers in the field who might need loans or other financial products offered by the institution.Promote Services: Engage with the community or business owners to promote the companys products and services, encouraging new business.Market Intelligence: Gather information about market trends and competitor activities to identify new business opportunities.6. Background in NBFC and MFI:Knowledge of Financial Products: Have a strong understanding of the products and services offered by the NBFC or MFI, including the terms, eligibility criteria, and repayment schedules.Compliance with Regulations: Ensure all activities, including collections, follow regulatory guidelines set by the Reserve Bank of India (RBI) and other governing bodies.Risk Management: Assess the risk of non-payment and implement strategies to minimize the risk of defaults.Customer Education: Educate customers about the importance of credit discipline and the benefits of repaying loans on time, ensuring that they understand the implications of non-payment.Financial Inclusion Focus (for MFI): In an MFI environment, the focus is often on serving low-income customers and helping them access financial products to improve their livelihoods. The Collection Officer may need to work closely with rural populations or underserved communities.

Key Responsibilities: Credit Assessment: Analyse financial documents such as balance sheets, profit and loss statements, and cash flow statements to assess the creditworthiness of borrowers.Loan Approval: Evaluate loan applications, review risk factors, and recommend credit decisions in line with the organization's credit policy.Risk Management: Identify potential risks associated with lending to individuals or businesses and suggest mitigation strategies.Policy Adherence: Ensure all credit decisions align with laid-out credit policies and regulations and work closely with other departments such as sales, legal, and collections to ensure the smooth processing of loans and resolution of any issuesCustomer Interaction: Interact with clients and borrowers to collect necessary financial data and assess their credit needs.Portfolio Management: Monitor the performance of the loan portfolio, track repayments, and recommend actions for any accounts showing signs of delinquency or default.