Recovery and External Agencies Senior Manager

Overview

Recovery and External Agencies Senior Manager Jobs in Riyadh, Saudi Arabia at alrajhi bank

Title: Recovery and External Agencies Senior Manager

Company: alrajhi bank

Location: Riyadh, Saudi Arabia

JOB PURPOSE:

1. Maximize recoveries on written off retail exposures through effective oversight of external collection and recovery agencies
2. Ensure external agencies, repossession vendors, and legal partners operate in line with bank policies, compliance requirements, and service level agreements
3. Manage escalated delinquent and write-off accounts by driving recovery strategies and initiating legal or repossession actions as necessary
4. Provide strategic insights and reporting on agency performance, recovery effectiveness, and portfolio status

KEY ACCOUNTABILITIES & DETAILED TASKS:

Oversight of External Agencies:

• Select, onboard, and manage third-party collection and repossession agencies, ensuring alignment with company recovery goals
• Define, monitor, and enforce KPIs and SLAs to drive agency accountability and maximize recovery performance
• Conduct regular performance reviews and implement corrective actions, including reallocations or contract terminations as needed
• Provide agencies with accurate, updated account data and clear operational guidelines to ensure effective collections
• Facilitate ongoing training and compliance audits to maintain regulatory adherence and operational excellence
• Resolve operational issues promptly, maintaining seamless coordination between internal teams and external partners

Recovery Strategy & Execution:

• Develop and implement targeted recovery strategies for written-off and difficult accounts to maximize recoveries at minimal cost
• Approve settlement offers, payment plans, and repossession actions within delegated authority, ensuring policy compliance
• Coordinate closely with internal collections teams to align efforts and avoid duplication, enhancing overall recovery efficiency
• Utilize data analytics and portfolio segmentation to prioritize accounts and optimize resource allocation
• Drive multi-channel debtor engagement strategies to improve contact rates and recovery outcomes
• Monitor recovery progress continuously and adjust strategies to meet or exceed recovery targets

Legal & Repossession Management:

• Oversee initiation and management of legal actions through external counsel, ensuring timely and accurate documentation.
• Manage repossession processes for secured assets, coordinating with external vendors to maximize asset value
• Monitor legal and repossession timelines, costs, and outcomes, ensuring compliance with internal policies and regulations
• Identify and escalate high-risk or sensitive cases to senior management for prompt resolution
• Conduct regular reviews of legal and repossession vendor performance, recommending improvements or changes as necessary
• Collaborate with legal and compliance teams to mitigate risks and resolve disputes efficiently

Financial Objectives:

• Achieve assigned recovery targets consistently, meeting or exceeding performance goals
• Optimize cost-to-recovery ratios through strategic vendor negotiations and efficient agency management
• Develop accurate recovery forecasts and conduct variance analyses to inform decision-making
• Manage recovery budgets, ensuring expenditures align with financial plans and deliver maximum ROI
• Report key financial and operational recovery metrics to senior leadership with actionable insights
• Identify opportunities to enhance revenue recovery through innovative strategies and process improvements

Reporting:

• Prepare monthly departmental reports to capture the progress, performance and quality in order to verify all the processes that has been implemented through the month.
• Provides management with accurate reports, regarding all aspects of Strategic Planning, along with conclusions and recommendations.

Policies, Processes & Procedures:

• required for effective individual professional and personal career growth
• Direct and ensure the effective achievement of functional objectives through leadership.
• Manage and oversee team performance through performance planning, coaching and feedback, also to develop the skills and competencies

Minimum Qualifications:

• Bachelor’s degree in business administration, Finance, or related field

Minimum Experience:

• 10–12 years of experience in collections and recovery, with at least 5 years in managing external agencies and legal recovery

Job-Specific Skills:

• Strong knowledge of collections and recovery processes across retail portfolios
• Expertise in agency/vendor management and negotiation
• Solid understanding of legal processes, repossession, and liquidation of assets
• Strong project management and reporting skills
• Commercial mindset with proven ability to optimize recovery outcomes