Head of Collections

Renaissance Asset Finance (RAF) provide unregulated fixed term finance to its chosen customer market of small and medium sized enterprises and high net worth individuals. These are generally introduced to RAF via a network of brokers with whom RAF establishes close working relationships. The majority of the assets financed by RAF comprise of higher value private cars, collectors cars, purpose built taxis, coaches and other specialist vehicles. RAF also funds the purchase of a range of commercial plant and machinery as well as a limited volume of business critical soft assets. RAF prefers to finance assets that have strong collateral characteristics and identifiable second hand markets. Renaissance Asset Finance Limited (RAF) was established by its founder shareholders in February 2014. Following the exchange of contracts on 20th December 2016 between RAF's shareholders and Arbuthnot Latham & Co., Limited (AL), and subsequent regulatory approval, RAF became a wholly owned subsidiary of AL in April 2017. Job Purpose To establish robust Collections and Recoveries processes and controls and to execute against them to ensure that RAF minimises losses. Job Description Key Responsibilities Strong portfolio oversight of all Watch list potential problem debt exposures, reporting to RAF Potential & Problem Debt Management Committee (PPDMC) in line with the relevant ToR. Management of the Watchlist and all arrears cases. Assist the Risk Director and Head of Credit Risk in the achievement of critical KPIs for the asset finance department. Manage and run the collections department to ensure potential losses are minimal and within budgeted expectations and to ensure the highest levels of customer service quality and competency are maintained thereby minimising risk and costs. The maintenance of robust collections procedures in line with company policy and regulatory requirements. Maintain awareness of and compliance with legal processes and statutory requirements in new business with reference to the Consumer Credit Act, Data Protection Act and Anti Money Laundering Procedures and Fraud. Ensure that online training and regulatory reading is completed on time. Ensure development, direction and management of strategic initiatives promoting business diversity and long-term performance plans. Liaise with senior RAF Directors on recovery strategies providing recommendation on appropriate options and progress. Maintain portfolio oversight of the overall Watch List lending exposures, organising and providing updates to PPDMC at quarterly intervals, and / or ad hoc meetings as circumstances dictate. Ownership and maintenance of Policies, Processes and Procedures related to Problem Debt Management, Arrears and Repossessions. Provide timely production of management information and ensure the continued development of quality management information to support better decision making. Additional ad hoc tasks as required. Key Interfaces Collections and Recoveries team Credit team RAF Directors Person Specification Knowledge / Experience Expert Knowledge (specifically Credit, restructuring and recovery work) Sound knowledge of AML / CTF regulations as they apply to RAF Extensive industry specific knowledge and experience Sound knowledge of International Financial Reporting Standards Detailed understanding of unregulated asset finance transactions and Consumer Credit Act exemption rules. A sound understanding of the different financial instruments used in Asset Finance and their financial implications. Long term leadership experience at both team and senior management level A sound knowledge and understanding of collection management strategies and insolvency procedures. A Sound understanding of Legal Recoveries procedures Self-motivated and driven to learn and develop yourself Qualifications Relevant degree or professional qualification desirable but not essential Competencies Client focus Business and commercial focus Team working Expert knowledge Planning and reviewing Leading others Creativity and innovation Judgment and problem solving #J-18808-Ljbffr