The Payment Recovery Manager will oversee and control the recovery process of the company, ensuring efficient and effective collection of outstanding payments. The ideal candidate will possess strong leadership skills and have the ability to visit customers to resolve recovery-related issues, while managing the debtor turnover ratio.

Key Responsibilities:

1. Overall Control of Recovery Process:

o Oversee the entire recovery process to ensure timely collection of outstanding payments.

o Develop strategies and implement best practices to enhance recovery rates.

2. Formulation of SOPs:

o Create and update departmental Standard Operating Procedures (SOPs) to streamline the recovery process.

o Ensure compliance with company policies and legal regulations.

3. Legal Processes for Recovery:

o Manage the blacklisting and legal proceedings necessary for debt recovery.

o Liaise with legal teams to handle complex recovery cases.

4. Customer Follow-Up:

o Establish and maintain effective communication channels with customers to facilitate prompt payments.

o Conduct regular follow-ups to ensure commitments are met.

5. Recovery Projection and Reporting:

o Finalize recovery projections and prepare detailed reports on aging, customer analysis, and overall recovery performance.

o Provide Management Information System (MIS) reports and insights to senior management.

6. Approval of Sales Orders:

o Approve sales orders in accordance with the company's credit policies.

o Ensure that all sales orders are evaluated for risk before approval.

7. Aging and Dues Management:

o Monitor and manage accounts receivable aging to identify and address overdue accounts.

o Implement strategies to reduce aging and expedite the collection of dues.

8. Bad Debt Provision:

o Assess and make provisions for bad debts in accordance with accounting standards.

o Ensure accurate reporting of bad debt provisions to reflect the financial health of the company.

9. Leadership and Team Management:

o Lead and mentor the recovery team to achieve departmental goals.

o Foster a positive and productive work environment.

10. Customer Visits and Resolutions:

o Visit customers as needed to resolve issues related to payment recovery.

o Develop and implement solutions to improve recovery outcomes.

11. Debtor Turnover Ratio Management:

o Monitor and manage the debtor turnover ratio to maintain a healthy cash flow.

o Implement strategies to reduce the turnover ratio and improve financial stability.

Qualifications:

· Proven experience in a payment recovery or collections role.

· Strong understanding of recovery processes and legal frameworks.

· Excellent leadership and team management skills.

· Proficiency in data analysis and reporting.

· Strong communication and interpersonal skills.

· Ability to handle high-pressure situations and resolve conflicts effectively.

· Willingness to travel for customer visits as required.