2 days workshop
INTRODUCTION
In order to be an effective collector, you need to have the heart of an entrepreneur. This course will help to provide you with an environment that stimulates proactive behavior in order to achieve greater goals for yourselves and your organization. By creating value for your organization, you will be amazed at the speed of career advancement. Real-current problematic debt cases will be analyzed and scenario solutions will be provided under the guidance of Dr. Steven Liew.
COURSE OBJECTIVES
By the end of this course you will be able to:
Understanding Negotiation Techniques
Profiling Your Customers
Use Practical Debt Recovery Approaches
Understand Legal Debt Recovery Strategies
Know When To Initiate Legal Actions
Know How To Avoid Futile Effort In Recovery
Review Legal Case Studies
METHODOLOGY
Case Study & Group Discussion. Real-current problematic debt cases will be analyzed and scenario solutions will be discussed within the workshop.
WHO SHOULD ATTEND
Bankers, Accountants, Business Managers, Marketing Managers, Collection Executives, Sales Executives, Finance Executives, Supervisors, Managers, Credit Analysts, Credit Controller & Recovery Officers.
Special Feature: NOTE: Please bring laptop along
PROGRAMME OUTLINE
Day 1
Module 1: Burning issues in debt recovery
Management Bureaucracy
Collectors Are Not Well Recognized
Borrowers Has Multiple Loans Exposure To Other Banks
Unable To Locate Customers
Insufficient Funding For Repayment
Module 2: Customer Risk Profile
Assessing Your Risk Factors
What Are The Strategies To Negotiate Debt?
Why Borrowers Are Not Paying You?
Module 3: Negotiation Techniques
Soft Negotiation
Hard Negotiation
Principles Negotiation
Successful Negotiation
Profiling Your Debtors
Handling Complaints & Difficult Customers
Focus on Large Customer
Visit your Debtor
Module 4: Improve Telephone Skills
Improve Telephone Skills
Collection Skills Via Telephone
Collection Skills Via Telephone
Persistency
Speak Your Customer Language
Profiling Customers
Flow Along With The Customers
Module 5: Credit Evaluation & Monitoring
Importance of Credit Evaluation & Monitoring
Criteria For Approval Or Rejection
Setting the Credit Limit
Monitoring Customer Account
Group exercises
Qualities of an Effective Collector
Identify the qualities of an effective collector & rank them
Role play & reverse play on your attributes as effective Collector
Day 2
Module 6: Case Studies & Group Discussion
Case Study 1 (Negotiation Skill)
Case Study 2 (Credit Evaluation)
Case Study 3 (Handling Difficulty Debtor)
Case Study 4 ( Bank Branch Manager Task)
Recoveries Techniques
Module 7: External Outsourcing to Collection Agencies
When & why Outsource debts to collection agency
Outsourcing Cost
Internal Outsourcing to Staff
Why should outsource to staff & when not to outsource to staff
Module 8: Legal Procedure
What To Do Before Litigation
Contents Of Letter Of Demand
Factors To Consider Before Suing
Preparation For Suing
Preparation For Trial
Enforcement Of Judgments
Module 9: Case Studies & Group Discussion
Case Study 5: Head of Credit Controller Task
Case Study 6 (Dealing with NPL borrowers)
Case Study 7 (Detecting early warning sign)
Case Study 8 (Government Accounts)