Advanced Credit Controller/Debt Collection Specialist

Knowledge

What is required (through formal learning and applied according to business environment)

Credit Management/Debt Collection

Good understanding of the principles of credit management/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/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, understanding 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, and 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.

Skills

What is required (through formal learning and applied according to business environment)?

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/requirements (as identified through triggers or other recognised frameworks) and develop acceptable solutions. Able to identify, defuse, and resolve difficult and sensitive/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 circumstances. Communicates effectively with customers/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.

Negotiation and Decision Making

Uses a range of negotiating skills to work with customers to identify mutually acceptable solutions/outcomes to credit/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/regulatory requirements. Carries out a range of tasks which may include proactive contact with customers to collect outstanding balances/debt, cash allocation, journals and reconciliations; managing ledgers, producing required reports, maintaining accurate records of communications/actions, dispute resolution, actioning/recommending write-offs. Plans and organises work to meet their commitments/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/collaborates to achieve results. Builds/maintains good working relationships within teams and with other business areas, e.g. sales, compliance/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/coaching where appropriate.