Collections Officer
Dubai, United Arab Emirates
Full timeOn-site
Job description
About the Role
Beehive is the MENA region's leading P2P SME lending platform, regulated by the DFSA and operating across the UAE, Saudi Arabia, and Oman. As we continue to grow, we are looking for a diligent and results-driven Collections Officer to manage a portfolio of delinquent SME accounts across the UAE market. This is a hands-on role with broad exposure, ideal for someone who enjoys combining proactive outreach, negotiation, and problem-solving with a strong understanding of UAE banking regulations. You will play a key role in ensuring the timely repayment of loans, maintaining Beehive's high standards of professionalism and compliance, and working closely with internal stakeholders to deliver optimal outcomes for both Beehive and its clients.
The Important Stuff
Flexibility: DIFC, Dubai based office. Hybrid working environment
Reporting to: Group Head of Credit
Start Date: Immediately Available
Interview Process: 3 rounds of interviews
Your mission:
To provide fast, accessible and digital lending solutions for SMEs in UAE. In this role that means:
· Ensure the timely repayment of loans while upholding the highest standards of professionalism and compliance with regulations.
Your role involves proactive outreach, negotiation, and problem-solving to achieve optimal outcomes for both Beehive and its clients in the UAE market.
Day to Day, you will:
1. Collections Management: Effectively manage a portfolio of delinquent SME accounts by establishing policies and procedures. Prioritise collection efforts based on the level of delinquency and risk exposure, adhering to regulatory requirements specific to the UAE.
2. Outreach and Communication: Initiate contact with delinquent clients through various channels, including phone calls, emails, site visits, and letters, adhering to customs and communication norms. Employ tact and diplomacy in negotiating repayment arrangements while maintaining a respectful and culturally sensitive approach.
3. Negotiation and Problem Resolution: Collaborate with delinquent clients to develop mutually beneficial repayment solutions tailored to their financial circumstances and the bank's objectives. Negotiate terms such as payment schedules, interest rates, and potential restructuring of loans within the framework of UAE banking regulations.
4. Documentation and Record-Keeping: Maintain accurate and comprehensive records of all communications, payment agreements, and client interactions in compliance with local data protection laws and banking regulations. Ensure the confidentiality and security of sensitive client information at all times.
5. Risk Assessment: Assess the financial viability and creditworthiness of delinquent clients within the context of the UAE market, considering factors such as economic conditions, industry trends, and local business practices. Collaborate with internal stakeholders to evaluate the need for further actions, such as legal recourse or loan restructuring.
6. Customer Relationship Management: Cultivate positive and constructive relationships with SME clients, demonstrating empathy, understanding, and professionalism in all interactions. Provide proactive support and guidance to clients facing financial difficulties, leveraging the bank's resources and expertise to facilitate resolution.
7. Reporting and Analysis: Generate regular reports on collections performance, including key metrics such as recovery rates, ageing of accounts, and effectiveness of collection strategies. Analyse trends, identify root causes of delinquency and recommend proactive measures to minimise future losses.
8. Compliance and Regulatory Adherence: Stay abreast of relevant laws, regulations, and best practices governing collections activities in the UAE banking sector. Ensure strict compliance with all applicable regulatory requirements, including Central Bank guidelines and Sharia principles where applicable.
This might be for you if:
· You have a bachelor's degree in Finance, Business Administration, or a related field (preferred).
· You have previous experience in collections, debt recovery, or credit management within the UAE banking industry, with specific expertise in SME lending highly desirable.
· You have excellent communication and negotiation skills.
· You are equipped to conduct external site visits when necessary
· You possess a sound understanding of UAE regulations, particularly pertaining to debt collection practices, data privacy, and consumer protection.
· You possess strong analytical skills, with the ability to interpret financial statements, assess credit risk, and make informed decisions.
· You have the ability to work independently, prioritise tasks, and thrive in a dynamic, multicultural environment.
Bonus points for:
· Financial Background
· Self Starter attitude
· Problem Solving skills
Why join us?
With us, you have the opportunity to join a growing team with immense growth opportunity within the company. As one of the earliest hires within the Oman function, you will have the opportunity to create real impact and learn on the job.
Beehive is a rapidly growing and one of the longest standing startups in the MENA region. We are a people-first organization and we believe in empowerment of our workforce.