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Collections & Recoveries Manager

3 months ago


Milton Keynes UK, Buckinghamshire, United Kingdom Allica Bank Full time

About Allica bank

Allica is the UK’s fastest growing company - and the fastest-growing financial technology (fintech) firm ever. Our purpose is to help established SMEs, one of the last major underserved opportunities in fintech. Established SMEs are the backbone of local communities - representing over a third of our economy - yet have been largely neglected both by traditional high street banks and modern fintech providers.


Department Description

This role sits within the Chief Lending Officer department, initially cross functional supporting our SME customers across our main lending products; Commercial Mortgages (CM) & Asset Finance (AF).


Role Description

This role is responsible for helping the Senior Restructuring Manager to manage the Bank’s CM and AF portfolio of customers who are, or may get into difficulties/arrears, by both own actions and as part of the Collections Team. Successful implementation of collections and work out strategies to enable customers to bring their debt repayments up to date.


Where customers cease to trade or where arrears become unmanageable, working with third parties – solicitors, Insolvency Practitioners (IPs) and debt collection agencies to assist in the recovery of debt through possible repossession of Commercial Property or Assets. Principles of TCF to be maintained at all times.


Principal Accountabilities

  • Managing a portfolio of accounts showing signs of deteriorating credit quality and accounts in workout/recovery by implementing a repayment or recovery strategy on both a portfolio and individual customer basis.
  • Watchlist management and liaising with the Credit Portfolio team on a monthly basis to ensure loans are captured within the banks monthly MI.
  • In some cases, completing site visit to customers suffering difficulties/arrears, complete a review and assessment of the current position and consider an appropriate work out plan.
  • Where necessary, terminating finance agreements on AF exposures and working with the Asset Manager to recover and sell assets to maximise sale proceeds.
  • Keep Watchlist up to date and assist Senior Restructuring manager with monthly report to Credit Risk meetings.
  • Liaising with insolvency practitioners and collection agents, instructing Solicitors where required.
  • Ensure that the portfolio delinquency ageing is categorised accurately to support IFRS 9 reporting.
  • Anticipate and react to regulatory or legislative changes that could affect lending; develop contingency plans and strategic responses to change.
  • Ensuring that fees, and recovery income and expense is in line with budget.
  • Continually evaluate market conditions and recognise and react to emerging risks in the portfolio.
  • Change management supporter; to improve processes and procedures in a rapid manner through developing improvements with the business line mission squad.


Personal Attributes & Experience

  • Experienced in a Collections and Recoveries department in CM or AF (or both), relating to SMEs.
  • Evidence of successfully managing a portfolio of distressed assets to maximise customer collections.
  • Expert knowledge and understanding of CM and AF lending products and the options open to a lender to enforce its security in the event of customer default.
  • Clear knowledge of the legal and contractual rights of both the Bank and the customer and the bank’s options to enforce its security in the event of a customer default.
  • Clear knowledge of the current regulatory environment including treating customers fairly and dealing with vulnerable customers.
  • Clear working understanding of PD, LGD and EAD; IFRS 9 and impairment process.


Additional Information


Working at Allica Bank

At Allica Bank we want to ensure our employees have the right tools and environment in which to succeed in their role and in support of our customers.


Our employees are at the heart of everything we do, so our benefits are designed with you in mind:

  • Full onboarding support and continued development opportunities
  • Options for flexible working
  • Regular social activities
  • 25 days holiday – with the option to Buy/Sell
  • Pension contributions
  • Discretionary bonus scheme
  • Private health cover (with the option to add family members)
  • Life assurance
  • Income Protection
  • Family friendly policies including enhanced Maternity & Paternity leave
  • Season ticket loans


Don’t tick every box?

Don’t worry if you don’t have all the skills or requirements listed on the job description. If you think you’ll be a good fit, we’d still love to hear from you


Flexible working

We know the ‘9-to-5’ isn’t right for everyone. That’s why Allica Bank is fully committed to flexible and hybrid working. Please let us know what is best for you and, if we can, we will do our best to accommodate.


Diversity

We’re a diverse bunch here at Allica, with all kinds of experiences, backgrounds and lifestyles. Our openness and differences make us stronger, and we want everybody to feel comfortable bringing as much of themselves to work with them as they like.