Head of Collections

About Khazna

Khazna, established in 2020, focuses on enhancing the financial well-being of the underbanked by providing secure, convenient, and smartphone-based financial services. As the first company to receive a prepaid card license from the Central Bank of Egypt, Khazna aims to become a leading neobank for mid-to-low-income consumers across the Middle East. The company is currently expanding into Saudi Arabia, building its presence in Riyadh.

The Role of Head of Collections

As the Head of Collections in Riyadh, you will be responsible for leading and executing the comprehensive collections strategy for lending products within Saudi Arabia. This full-time role involves driving performance across early and late-stage collections, designing efficient processes, managing collection partners, and ensuring regulatory compliance, all while maintaining a customer-centric approach. The position requires 5-10 years of relevant experience.

Key Responsibilities

• Develop and implement the overall collections strategy specifically for the KSA market.
• Build and lead an in-house collections team and manage outsourced collection agencies.
• Establish a scalable and segmented collections framework for various customer risk profiles.
• Oversee the entire collections lifecycle, including early, mid, and late-stage collections, legal recoveries, and write-offs.
• Monitor daily performance metrics and implement continuous process improvements.
• Maintain accurate records of all collections activities and communications.
• Collaborate with other departments to resolve disputes and customer service issues.
• Handle and follow up on legal cases initiated by the company against delinquent customers.
• Ensure collections practices adhere to SAMA regulations and consumer protection laws.
• Work with legal and compliance teams to manage regulatory risk and prepare for audits.
• Promote ethical collections practices to preserve brand reputation and customer trust.
• Track key performance indicators (KPIs) such as DPD (Days Past Due), roll rates, cure rates, recovery rates, and cost of collections.
• Provide regular updates and insights to leadership regarding portfolio health and collections performance.
• Identify, contract, and manage third-party collection agencies and legal firms.
• Set performance benchmarks and Service Level Agreements (SLAs) for external partners and ensure accountability.

Qualifications and Requirements

• Bachelor’s degree in Business, Finance, Economics, or a related field; a Master’s degree is preferred.
• A minimum of 8 years of experience in collections, credit risk, or operations, preferably within fintech, banking, or consumer lending.
• Demonstrated leadership experience in managing large teams and external vendors.
• Profound knowledge of Saudi regulatory requirements, including SAMA and consumer protection laws.
• Strong analytical, decision-making, and negotiation skills.
• Fluency in both Arabic and English is required.