Collections and Retentions Lead

Retention and Collections Lead

Job Summary:

This role involves developing and executing effective strategies to optimize customer retention and manage collections processes from start to finish. The ideal candidate will have a strong background in retention and collections management, with a deep understanding of customer behaviour and market dynamics.

Key Responsibilities:

• Build and Manage Retention/Preservation Department:
• Establish and lead the retention/preservation department within Life and Funeral Operations.
• Develop departmental goals, strategies, and operational plans aligned with business objectives.
• Develop and Implement Collection Strategies:
• Design and implement effective collection strategies to improve retention rates.
• Manage collections processes, ensuring timely and efficient resolution of outstanding balances.
• Data Analysis and Strategy Development:
• Utilize customer data and analytics to identify trends, insights, and opportunities for improving retention.
• Develop and implement churn reduction strategies based on data-driven insights and industry best practices.
• Cross-functional Collaboration:
• Collaborate closely with other departments (such as Customer Service, Sales, Product and Finance) to align retention strategies with overall business goals.
• Communicate effectively with stakeholders to gain buy-in and support for retention initiatives.
• Monitoring and Reporting:
• Monitor key retention metrics and performance indicators.
• Prepare regular reports and presentations on departmental performance and trends.
• Continuous Improvement:
• Continuously evaluate and improve retention and churn reduction strategies.
• Stay abreast of industry trends and best practices in retention and collections management.

Requirements:

• Matric qualification:
• 8 years of proven experience in a retention/collections environment, preferably within the financial services or insurance industry.
• Minimum of 2 years in a leadership or managerial role, with demonstrated ability to lead and develop a team.

OR

• Matric
• Relevant tertiary qualification (e.g., Business Administration, Finance) is an added advantage.
• 5 years of proven experience in a retention/collections environment, preferably within the financial services or insurance industry.
• Minimum of 2 years in a leadership or managerial role, with demonstrated ability to lead and develop a team.
• Strong understanding of customer behaviour and market dynamics in the context of retention and collections.
• Excellent communication and interpersonal skills, with the ability to influence and collaborate effectively across all levels of the organisation.
• Proficiency in data analysis and reporting tools.
• Strong project management and organisational skills, with a keen attention to detail.

Preferred Skills:

• Familiarity with regulatory requirements related to collections processes.
• Knowledge of funeral insurance products and services is advantageous.

Benefits:

• Opportunity to lead and shape a newly established department.
• Career growth and development opportunities within a dynamic and growing organization.