Collections and Debt Recovery Assistant
The Company:
Momenta Finance is a dynamic and rapidly expanding alternative finance provider in the Fintech sector. We are experiencing an exciting growth phase and are looking for people to join us who can have a positive impact right away. Our founding ambition is to offer SMEs and property developers the funding they need in order to prosper. By combining technology with some good common sense, we take a personalised approach to small business lending. Our lending decisions are often bespoke and it's this personal touch that makes us different. Since we launched in 2013, we've helped countless small businesses to grow, and we intend to do so for many more. We are a small, ambitious team with diverse backgrounds working in a non-corporate, social environment. We support each other, learn from each other, and have a lot of fun along the way.
Position: Collections and Debt Recovery Assistant
Reporting to: Head of Financial Operations
The Role:
As a Collections and Debt Recovery Assistant, you will be an integral part of the financial operations team, primarily focused on proactive debt recovery to mitigate arrears. Your role includes:
* Diligently managing the collection of outstanding debts on accounts in arrears.
* Assisting with the restructuring of loans by evaluating client circumstances and contributing to the negotiation of new loan terms.
* Preparing accurate and detailed statements of loan accounts for both internal and external use.
* Collaborating closely with legal counsel to facilitate the debt recovery process.
Responsibilities will include (but are not limited to):
* Assisting daily with early debt collections by contacting debtors via phone, email, and other communications methods. Dealing with small, medium and large blue-chip companies.
* Reconciling customers' loan accounts and preparing loan statements with high accuracy (Excel skills needed).
* Corresponding with debtors via telephone and email regarding queries / concerns that arise from unpaid accounts with the aim of resolving outstanding issues prior to litigation.
* Working with third party direct debit platform called GoCardless.
* Documentation gathering for any forbearance or restructure requests.
* Ensuring that documents are correctly executed prior to completion of any restructure or forbearance put in place.
* Liaising with solicitors and Bailiffs.
* Using Experian, Transunion, Creditsafe, Land Registry, Zoopla to determine customer net worth and tracing their assets before recommending a course of action
* Able to read and correctly interpret financial information- P&L and Balance sheets to decide next course of action with problematic accounts.
* Preparing and submitting Proof of Debt forms
* Reviewing documents drafted by external solicitors including but not limited to Particulars of Claim and Claim forms, entry of Judgment, Applications for Charging Orders, Tomlin Orders applications before they are issued to the debtors and filed with Court.
* Understanding the principles of the various enforcement proceedings with an emphasis on but not limited to Winding up petitions, Bankruptcy petitions and Applications for Charging Orders using available information about the debtor.
* Providing instructions to Solicitors for debtors in Scotland and Northern Ireland in respect of insolvency proceedings/enforcement proceedings where Judgments have already been obtained in England.
* Preparing files to send to English Solicitors, Scottish and Northern Irish Solicitors for letters before action, issue of Claims, entry of Judgment/Decree and dealing with all types of English, Scottish and Northern Irish enforcement.
* Dealing with defended claims and assisting external firm of solicitors when further evidence is required to respond to defence.
* Handling queries / disputes raised following the issue of a Claim to ensure that matters are dealt with in a commercially effective and efficient manner.
* Monitoring a portfolio of secured loans and unsecured loans
* Providing administrative support to the Head of Financial Operations and to our solicitors
* Ad hoc duties
Role requirements:
* Minimum of three to five years of work experience in credit control, debt recovery, legal work within a credit environment or similar position.
* Good understanding of the legal complexities of loan agreement, debt security, payment plans, and interest rates.
* Excellent communication and negotiations skills.
* Problem solving skills.
* Ability to navigate difficult conversations with borrowers.
* Good written and verbal communication skills.
* Strong numeracy skills.
* Basic level of Excel.
* High attention to detail – thoroughness and accuracy.
* Ability to maintain an organised system and process in a dynamic environment.
* Ability to prioritise and handle multiple tasks at any given time.
* Ability to keep calm under pressure and a diplomatic but firm manner.
* Ability to work on your own as well as in a team environment.
* Good analytical skills.
Desirable:
* Prior experience in debt recovery or collections role -minimum 3-5 years.
* A law degree (or equivalent legal qualifications) is desirable, but not essential.
* A-Level or above in Mathematics and English.
* Detail oriented and able to manage a high volume of work in a fast-paced environment.
* Well versed in Microsoft Office (Excel, Outlook, Word) and quick to adapt to new systems
Location & commitments:
* Duration: Permanent
* Employment Type: Full Time
* 9am-6pm Monday-Friday — 40 hours per week with 1 hour for lunch.
* Location: This is an office based role
* Salary: market related depending on experience
* Start Date: immediately or on short notice.
Job Type: Full-time
Benefits:
* Company pension
* Cycle to work scheme
* Employee discount
* Life insurance
* Private medical insurance
Work Location: In person