Real Estate collections section head

About the Role

Abdullah Abdulaziz AlRajhi & Sons Holding is seeking a Real Estate Collections Section Head to join their team in Riyadh. This full-time role involves overseeing the management and execution of collection operations for real estate revenues and financial dues, ensuring timely collection, and minimizing arrears and bad debts.

Job Purpose

The primary objective of this role is to supervise the collection of financial dues from real estate activities, ensuring payments are received on schedule. The Section Head will be responsible for developing effective collection plans, policies, and procedures to improve the company's cash flow and reduce outstanding debts. This includes monitoring team performance and coordinating with relevant departments to achieve financial and operational goals.

Key Responsibilities

1. Develop annual and monthly real estate collection strategies and plans, setting targets and monitoring their implementation in line with the company's financial objectives.
2. Oversee the collection of financial dues from rentals, real estate unit sales, installments, contractual payments, and other real estate revenues based on company activities.
3. Monitor accounts receivable, overdue amounts, and analyze debt aging to prioritize collections based on risk levels and the value of dues.
4. Develop collection policies, procedures, and escalation mechanisms, ensuring their application by the team in accordance with approved regulations and bylaws.
5. Prepare and monitor key collection performance indicators, measuring collection rates, the volume of arrears, default rates, and adherence to collection targets.
6. Supervise the preparation of periodic reports on collected and uncollected dues, analyze reasons for delays, and provide necessary recommendations to senior management.
7. Manage and follow up on defaulted cases, develop plans to address payment delays, and negotiate with clients within approved authorities.
8. Coordinate with legal departments regarding defaulted financial claims, statutory notices, and necessary legal procedures for collection.
9. Coordinate with sales, leasing, property management, finance, and customer service departments to resolve financial discrepancies and disputes related to dues.
10. Review financial settlements, debt rescheduling, and proposed payment plans, escalating cases requiring approval to the authorized party.
11. Monitor the recording and documentation of collection operations, settlements, and outstanding amounts in financial and property management systems, ensuring data accuracy and updates.
12. Prepare periodic cash flow forecasts related to collections and provide necessary information to the finance department for financial planning.
13. Analyze reasons for declining collections or increasing overdue debts, and propose corrective initiatives and actions to improve results.
14. Manage the collection team, distribute tasks, set individual goals, monitor productivity, develop employee skills, and evaluate their performance.
15. Develop collection tools and reports, leveraging automation and technical systems to improve monitoring efficiency and reduce operational errors.
16. Ensure compliance with internal policies, regulations, and relevant bylaws, and maintain the confidentiality of client financial information and data.
17. Prepare periodic reports for senior management, including collection results, debt status, anticipated risks, and achievement of targets.
18. Perform any other duties assigned by the direct manager.

Qualifications and Experience

• Bachelor's degree in Business Administration or a related field.
• A minimum of 3 years of relevant experience, with a total experience range of 2-5 years.