Job Role – Retention Executive
The Retention Executive will be responsible for managing customers who have expressed intent to foreclose, close, or transfer their Loan Against Property (LAP) accounts. The role involves understanding customer concerns, identifying retention opportunities, negotiating suitable solutions, and ensuring portfolio retention while maintaining a high level of customer satisfaction.
The ideal candidate should possess strong knowledge of LAP products, foreclosure processes, balance transfer scenarios, and financial analysis. They should be capable of building customer trust, handling objections effectively, and driving retention outcomes that contribute to business profitability and portfolio growth.
This would also require to connect with business and Risk team for further upsell.
Requirements
- Graduate in any discipline; MBA/PGDM in Finance or Marketing preferred.
- 2–6 years of experience in LAP Retention, Foreclosure Retention, Mortgage Retention, Balance Transfer Desk, Banking, NBFC, or Financial Services.
- Strong understanding of Loan Against Property (LAP) products, foreclosure processes, balance transfers, and loan servicing.
- Sound knowledge of financial concepts including interest rates, EMI calculations, loan restructuring, and portfolio management.
- Excellent communication, negotiation, and customer relationship management skills.
- Proven ability to handle customer objections and convert foreclosure requests into retention opportunities.
- Strong analytical and problem-solving skills with a customer-centric approach.
- Proficiency in CRM systems, Advance MS Excel, and MIS reporting.
- Target-driven mindset with the ability to work in a fast-paced, performance-oriented environment.
- Experience in revenue protection, portfolio retention, and customer engagement strategies will be an added advantage.
Expectations
- Achieve monthly and quarterly foreclosure retention targets.
- Minimize portfolio attrition by effectively retaining customers considering foreclosure or balance transfer.
- Build and maintain strong relationships with customers through proactive engagement and timely resolution of concerns.
- Analyse customer requirements and provide suitable retention solutions within company guidelines.
- Ensure a seamless customer experience while handling retention conversations and negotiations.
- Collaborate effectively with Credit, Operations, Sales, and Branch teams to drive successful retention outcomes.
- Maintain high levels of accuracy in documentation, CRM updates, and MIS reporting.
- Demonstrate strong ownership, accountability, and a results-driven approach.
- Stay updated on market trends, competitor offerings, and industry practices to strengthen retention strategies.
- Consistently contribute to portfolio growth, revenue protection, and overall business objectives.
