As the Litigation specialist, you will be tasked with managing Validity's litigation/foreclosure strategy and crafting an effective litigation strategy to reduce delinquency risk and improve Boost Bank's collection performance.
The Litigation Specialist will have a thorough knowledge of litigation and foreclosure processes, as well as experience working with Valuer and Auctioneers during property auctions. You will be able to take direction yet work independently where appropriate to achieve department target.
Job Responsibilities:
- Responsible for effective and prompt commencement of legal action for delinquent accounts.
- To monitor the effectiveness of panel law firms and valuers on service level agreement, turnaround time and service quality.
- Ensure timely issuance of instruction to discontinue/ withholding legal action to lawyers.
- Execute collection litigation strategies and initiatives in order to manage acceptable of credit losses and maximize recovery returns, Candidate to work with Legal department on our rights and Bank interest as well.
- Collaborate with the internal collection team on litigation matters.
- Provide clerical support, assist managers to manage ad hoc tasks and panel solicitor in accordance with internal policy.
- Develop new litigation strategies to mitigate the risk of higher delinquency and monitor the performance of the portfolio.
- Work with legal department on Panel solicitors performance / annual review exercise to enhance collections productivity, effectiveness and efficiency.
- Ensure legal bills cleared within acceptable timeline/ aging agreed by Solicitor.
- Maintaining the collections system adopted by the Bank, such as, updating relevant information and documents in the system.
- Maintaining accurate collection records, providing status reports and updates to internal stakeholders.
- Ad-Hoc assignments and other responsibilities delegated by the supervisor from time to time.
- This position offers clear and defined career advancement opportunities, with the potential to progress into a managerial role based on performance and growth.
Key Result Areas:
- Able to assist in managing credit risks of both existing and new customers.
- Proactively execute collections litigation and manage internal stakeholders.
- Ensure adherence to scale fees established, where applicable.
- Abel to manage bills processing turnaround time are met.
- Display exemplary conduct and able to work independently.
- Able to provide any ad-hoc support whenever needed.
Requirements:
- Bachelor's degree in business, Law, Computer Science, or related discipline.
- 5-7 years experience in debt collection especially in litigation management.
- Good knowledge of various products, its key drivers and industry trends especially supply chain financing or trade financing.
- Understand the recovery litigation process and experience in liaising with panel law firms.
- Committed in completing assignment within dateline and exhibit a high level of leadership as well as excellent in adapting to a rapidly changing circumstance.
- Strong communication (oral and written) skills.
- Proficiency in Word, Excel and PowerPoint.
- Organized and detailed oriented.
- Ability to problem solve and meet deadlines.
