About the job
Job Purpose:
As the Installment Account Manager, you will spearhead the management and enhancement of our relationships with installment providers, driving sales growth and ensuring seamless operations, compliance, and improved profitability of our installment offerings across diverse channels including physical stores, e-commerce platforms, and mobile applications.
Key Responsibilities:
1. Business and Contract Development:
- Identify and engage suitable installment providers, negotiating terms, commissions, and service agreements.
- Draft and assess contracts and amendments (covering fees, credit limits, return policies, and dispute resolutions).
- Create a strategic map of installment offers customized for various seasons and customer demographics (including 0% fees, seasonal installments, and down payment options).
2. Relationship and Partnership Management:
- Act as the primary contact for each provider and facilitate performance review meetings on a monthly and quarterly basis.
- Collaborate on joint marketing and sales initiatives (co-marketing) and outline target shares and campaigns.
3. Operational and Technical Integration:
- Work closely with the IT department to integrate APIs, SDKs, and payment gateways, conducting necessary testing.
- Ensure a cohesive customer journey across both POS and online platforms.
- Monitor and resolve downtime and errors in accordance with the Service Level Agreement (SLA).
4. Governance, Compliance, and Risk Management:
- Ensure installment offers adhere to internal policies and regulatory standards.
- Handle objections and disputes, establishing a clear escalation process.
5. Financial Reconciliation:
- Oversee daily and weekly settlement and collection processes, reconciling transactions with sales orders.
- Evaluate discounts, commissions, administrative fees, and any variances in settlements, addressing discrepancies as they arise.
- Generate periodic financial reports detailing net income, revenue, and outstanding amounts.
6. Sales and Customer Service Empowerment:
- Train sales and customer service teams on available installment programs.
- Enhance the customer experience from approval through to delivery and after-sales support.
7. Marketing and Sales Growth:
- Oversee the execution of installment campaigns across digital and in-store channels, tracking their impact on sales.
8. Analytics and Reporting:
- Create a dashboard to track metrics such as installment selection rate, approval and rejection rates, cart values, conversion rates, and return rates.
- Analyze rejection reasons to improve policies with providers regarding thresholds and evaluation criteria.
9. Documentation and Reporting:
- Prepare weekly and monthly reports for management, focusing on installment sales, profitability, risk indicators, and areas for improvement.
