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.
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