Debt Recovery Agent Job Description: Requirements, skills, salary
The banking & financial system of the nation plays a significant part in advancing
the long-term growth of the economy. The significant segments of the industry
are banking, insurance, and mutual funds.
Based on the expected growth in the banking and financial services industry
(BSFI), it is expected to increment in the debt recovery sector.
Wish to make a career as a Debt Recovery Agent?
If yes then you are in right place.
In this blog we’ll discuss exhaustive information on the job description of a debt
recovery agent, to help you understand what they do.
Debt Recovery Agent Job Description
Debt Recovery Agent knew as Loan Recovery Agent and Money Recovery Agent. They are employed and empowered by an organization to attempt the collection of debt in all legal and possible ways. Their major duty is to find people who owe money from overdue bills and negotiate payments, hence they are also known as Payment Recovery Agents.
What are the Job Responsibilities and Duties of Debt Recovery Agent?
Requirements to become Debt Recovery Agent
Here are major things recruiters/employers may wish you to meet to be hired:
To should meet requirements to get hired if you are seeking to work as a debt recovery agent:
To get into job candidates can apply for IIBF Debt Recovery Agent (DRA) Exam. As
RBI advised the Indian Banks' Association to put together, in consultation with the
Indian Institute of Banking and Finance (IIBF), a certificate course for Loan
Recovery Agents to undergo 100 / 50 hrs. of training.
Likewise, it has been informed to the service providers connected with by Banks
to employ personnel who have gone through the training and acquired the
certificate with the end goal of recovery from IIBF.
You must have computer skill required for this job is a good knowledge of MS Office and Database applications of various types.
Must have these skills to be a successful Payment Recovery Agents. This skill helps to explain financial, regulatory, and procedural matters firmly and clearly.
You need to have analytics skills to help and think out a way forward with each unique case.
This job profile is quite a tricky one that demands a professional attitude at every point in the job. You must present yourself professionally to both the organization you work for and the clients of the organization.
You should be organized to maintain track of the debtor’s condition. These skills also help you recover the most money for your organization/ Bank Recovery Agency.
Multitasking with great planning make sure delivery of excellent jobs.