Prodigy Finance - who are we?
Prodigy Finance is a platform that delivers socially responsible financial services; making it possible for students from more than 150 countries to fulfil their dream of studying at the world’s top universities and schools by financing their international postgraduate studies, whilst delivering competitive financial and social returns to alumni, institutional and private investors.
This borderless and innovative model enables education loan financing to students from across the globe, whilst using predicted post-degree affordability rather than present-day salary.
Since 2007, Prodigy Finance has extended over US$800 million through the platform to fund over 18,600 students.
We are funded by some of the best, pre-eminent institutions in the world including Index Ventures, Balderton Capital, RMIH, Credit Suisse and Deutsche Bank.
What will you do in the role?
We are looking for an experienced Debt Review or Collections Manager to look after our collections team based in Cape Town.
This person will be fully accountable for setting Prodigy Finance’s global collections strategy and policy, managing both hard and soft collections (1 to 180 days in arrears) while delivering amazing customer experience.
The role requires strong communication and handovers between the Loan Originations team, in-house Legal and the School Relationship Managers who service the top Universities around the world as well as external lawyers and / or debt recovery agencies as and when appropriate.
The ability to work closely with the legal team on enforcement processes would be highly advantageous.
and equally importantly as a lender regulated by the UK’s Financial Conduct Authority (FCA) in line with all FCA rules, regulations and guidelines and other codes of conduct and ethics.
Prodigy Finance’s operations team is located in Cape Town, South Africa with the role reporting to the Chief of Customer Success and Operations.
What are some of the roles and responsibilities of this role?
Set and implement best practice regarding debt collections policies and activities
Take ownership for the debt collection efforts for our loan portfolio working with borrowers to reduce the number of past due accounts and to minimise the defaults
Conceptualize and drive a long-term collections strategy that is effective at maintaining portfolio health whilst ensuring a customer experience in line with the Prodigy Finance brand values
Ensure key performance SLA’s are maintained across the collections team
Leverage your expertise and experience when managing a global customer base and nuances such as multiple time zones and many cultures to improve collections rates in a rapidly growing book
Collect delinquent loans through correspondence and personal contact with borrowers
Develop and implement robust skip-tracing techniques, to obtain information to locate borrowers
Oversee preparation of borrower accounts for legal enforcement; Maintain records of data and information on cases
Apply forbearance options to delinquent loans in line with the loan management policy
Work closely with the Credit Risk team in developing collections strategies and forbearance options
Ensure FCA and Codes of Conduct compliance
Develop and maintain operational dashboards
Qualifications and experience
Bachelor’s degree or equivalent
deal tactfully with customers; compose clear, concise reports and correspondence; establish and maintain accurate records and accounts
Strong quantitative skills
Legal background or exposure
Experience / or familiarity with UK regulation around consumer credit would be highly advantageous
you need to show us that you have a real desire and potential to be successful in a non-corporate company.
What is the Prodigy Finance fit?
To be an A player at Prodigy Finance, you need to possess the following attributes :
Innovative + Smart
Be curious enough to want to know more, think out the box, maybe even break the box, show initiative and be smart about it to find implementable, impactful solutions.
International + Accountable
Push yourself to be better every day. Work with others across the world, be resilient, add value and hold yourself accountable.
Encourage and celebrate each other.
Energetic + Fun
We put the fun in funding. A sense of humour survival. Bring energy and fun. Wear your heart on your sleeve. Work hard and play hard.