Head of Collections
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Renaissance Asset Finance (RAF) provides unregulated fixed term finance to SMEs, high net worth individuals and specialises in higher value private cars, collectors’ cars, purpose built taxis, coaches and other specialist vehicles. RAF also funds commercial plant and machinery and a limited volume of business critical soft assets. RAF prefers assets with strong collateral characteristics and identifiable second hand markets.
RAF was established in February 2014 and became a wholly owned subsidiary of Arbuthnot Latham & Co. (AL) in April 2017 following regulatory approval.
Job Purpose
To establish robust Collections and Recoveries processes and controls and to execute against them to ensure RAF minimises losses.
Key Responsibilities
* The role holder will be expected to have a 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.
* To assist the Risk Director and Head of Credit Risk in the achievement of critical KPI’s for the asset finance department.
* To 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.
* To maintain an 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.
* To ensure development, direction and management of strategic initiatives promoting business diversity and long-term performance plans.
* To 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.
* To provide timely production of management information and to 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
* Client focus
* Business and commercial focus
* Expert knowledge
* Planning and reviewing
* Leading others
* Creativity and innovation
* Judgment and problem solving
About Us
Life, Work and Benefits
Arbuthnot Latham is committed to equal-opportunities for all staff and candidates. We embrace inclusion & diversity and understand why they are critical for the success of our business and people.
* Competitive salary, pension & holiday allowance
* BUPA Health cover
* 4x Life Assurance
* Discretionary bonus
* Market leading maternity/paternity and menopause policies
Seniority level
* Mid‑Senior level
Employment type
* Full-time
Job function
* Management and Finance
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