Employee Appraisal
My job description (JD) was a Loan collection offer, Deloitte International Corporation. I was responsible for collecting all loans disbursed within a period of 3 months. Before all loans fall to the due date, I was responsible for collecting partial payments. I was responsible for calling a few customers within my portfolio, especially those whose loans are two to deadline, and those have defaulted with pay partial payments within the agreed time. I used to conduct business or visitations for customers who don’t pick their calls or do not respond to e-mails. Consequently, I was responsible for updating interactions in the portfolio of accounts. For example, when I visit a customer, and she or he promises to pay, I update an interaction like “the customer is committed to clear the pending balance on 11th next”. These interactions help my supervisors and managers to know the exact status of a specific loan. I was responsible for limiting loan amounts and evaluating business affordability to determine loan amount should lend to a particular business. Furthermore, I was responsible for jointly working with external debt collectors to manage defaulted accounts that have to exceed a period of more than 90 days. I also offered customers education on keeping track records of their business incomes to avoid losses that occur due to ineffective business recordkeeping.
My supervisor was a managing director for collection officers that I used to send weekly reports on collected loans, written-off portfolio accounts, and loans due to high pending balances without partial payments. My manager’s expectations relied on key performance indicators (KPIs) attached to my JD. My manager expected a collection rate of more than 95% on loans disbursed for the period last three months. This means the remaining 5% in my portfolio I used to collect with joints efforts from external debt collectors (EDC). For example, when the disbursed loan in my portfolio account is 50 million dollars, I am supposed to collect 95% of principal and interests attached on particular loans. My manager expected my portfolio accounts to have updated interaction on loan status that is almost due and defaulted. Moreover, my manager expected at least two customers under my portfolio accounts.
The performance appraisal that is done in my JD consists of the evaluation of my KPIs scores. The appraisals were also done based on employees’ discipline and adherence to established standard operating procedures (SOPs). These appraisals were done in two phases. The first one is used to do my management director of collection officers who appraises my performance with adherence KPIs that are monthly displayed in the employee’s performance dashboards. The second phase of appraisal it done used to be done by the global executive director of collection officer. Yes, I think the appraisals were appropriately made because it was base on competency. Typically, the appraisals were based on KPIs scores. I believe there was no biases on appraisals because everything that is appraised is based on displayed KPI competences displayed in employee’s’ performance dashboards. This means if anything wrong is appraised I would have seen that bias.
The feedback from super was above average because it indicated the above scores. I was appraised between 1-5 stars. My feedback was 4.5 stars. This indicates my adherence to KIPs and SOPs was good. My manager suggested that am supposed to improve on section of updating my interactions daily to make sure all accounts in my portfolio have updated information. My manager suggested that this will help related stakeholders such as EDC and loan officers to have information on about loan status in my portfolios accounts and know how intervene. Also, my manager suggested that I should devote my efforts to partial payments because a considerable of accounts in my portfolio defaulted due lack of partial payments. He suggested continuous defaults can lead to drop od collections rate which affect my next appraisal. After the appraisal I was assigned two members from EDC who helped to boost collection rate. The individuals from EDC the were brought with underlying purpose of i8improving my collecting rate especially for accounts that have defaulted and those that are almost due and have no consistent follow ups. Moreover, this action benefited me because I learnt several techniques of collecting.
I think the performance my job can be improved by increasing the quality or integration of technology that we use on managing our account portfolios. Currently, the technology am using does not have the ability to set reminders on people I want am supposed to visit especially whose accounts are almost due or defaulted. Similarly, this this technology does no remind me accounts that have small or no partial [payments, instead, I have to manually write them down. Therefore, to bring a technology that works as my assistant it will help me increase the quality of my job. I suggest to my manager to be engaging us in educational programs on appropriate ways collecting loans. Being a collection officer is one of the challenging jobs one can handle in money lending world because some customers are turbulent handle especially bad faith customers (BFC), who have money but they refuse to settle their loans. Sam suggesting this because I believe it work as our motivation and improve our existing knowledge on money lending. Moreover, I suggest to my manager team building activities should increased because they will helps us learn different experiences. Because our company is multinational, I suggest we should be given at least three team-building activities that will help us travel to different countries and learn more experiences about money lending world.