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Senior Director of Collections Strategy and Execution
Money Mart Financial
Malvern, PA, United States
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What do you do?
The Sr. Director, Collections Strategy & Execution will be responsible for leading the Collections strategy, analytics and operational team’s including call center and administration. The candidate will lead a team of ~150 members across several locations in the US and Canada. The role will also ensure operational goals / metrics are achieved or exceeded and that all Collection activity is conducted in compliance with applicable federal, state and local laws. In addition, they will establish and communicate collections vision, strategy utilizing decision science analytics while improving processes and motiving their team to achieve critical goals.
What do we need?
• You to have an amazing personality and communication style.
• That you are super-organized and are a problem solver.
• That you take pride in everything that you do, and it shows.
• And most importantly that you have unquestionable integrity.
Why work for us?
• We invest in our employees, and offer extensive training, and development programs to set you up for future success.
This position will be responsible for:
• Develop future state vision and strategy / roadmap to reach future state. Influence executives and partners to support future state vision and roadmap
• Develop KPIs, benchmarks and align incentive plans to organizational goals
• Evaluate existing Collections technology and design optimization and/or new technology roadmap
• Lead development, testing and rollout of Collections early stage and late stage segmentation strategies including review and design of outsourcing strategies.
• Negotiate effectively with external vendors securing improved performance and reduced costs (where applicable).
• Support business development and due diligence efforts as needed. Lead and drive Collections strategy development for new partnerships, new products and system conversions.
• Lead development, testing and rollout of pre-delinquent strategies.
• Optimize strategies across multiple contact strategies including digital, phone and mail channels.
• Design and execute strategy for complex, regulatory sensitive loss mitigation treatment programs (e.g., re-age, forbearance, settlements, deferrals).
• Actively manage and monitor a portfolio of net charge-off (NCO) reduction initiatives, including closely tracking performance and providing regular updates to senior management and to other stakeholders.
• Review delinquent/charge-off accounts and provide feedback to credit risk and operations on trends seen and gaps in acquisition strategies.
• Enhance and improve off balance sheet recovery strategies including debt sale and other recovery opportunities.
• Manage operational costs within agreed budget with specific focus on optimizing cost to collect and underlying returns of operational center.
• Work closely with Client, Operations, Finance and Credit leaders to ensure strategies support both business and client objectives, while maintaining a straightforward, standardized, enterprise-wide decision structure.
• Partner with Compliance, Legal and other groups to complete gap assessment for new laws, regulations and regulatory guidance and, if necessary, lead and implement changes to ensure compliance. If CFPB implements new federal debt collections regulations, lead effort to re-optimize Collections strategies.
• Ensure robust governance, processes and controls are in place and team is “audit ready”.
• Lead or co-lead support for frequent regulatory exams, audits and reviews including reviewing and approving deliverables and interacting with examiners / auditors / reviewers.
• Close all audit issues/findings within agreed upon dates.
• Improve customer experience and reduce Collections complaints.
• Actively participate in industry groups and roundtables and complete regular benchmarking. Stay abreast of the regulatory environment and industry trends to identify emerging opportunities and risks.
• Provide reporting and facilitate strategic planning sessions to improve process flow, cycle time, customer service and operational results.
• Provide escalation support on complex issues between the team and external vendors and customers to enhance department efficiency.
• Maintain a thorough knowledge and understanding of company policies and procedures, as well as, state and federal laws. Working closely with peers to establish and coordinate interdepartmental policies and procedures.
• Hire, coach, develop and train team members; communicate performance level expectations; make salary recommendations; provide constructive feedback and establish an accountability rhythm to ensure goals of individual team members and the team meet or exceed expectations.
• Develop processes and tools to ensure efficient operation and creating and maintaining appropriate desk manuals.
• Ensure comprehensive and effective execution of projects; proper measurement tools are in place to monitor status and report results. Ensure projects are appropriately resourced; resources are effectively performing; and that projects deliver full scope on schedule, with high functionality and within budget.
Qualifications
Minimum Requirements:
• Bachelor’s degree and at least 10+ years of strategy, analytics (Collections, Marketing, Risk, or Credit), risk management or credit experience
• In lieu of a Bachelor’s degree, 14+ years of strategy, analytics, risk management or credit experience
• Up to 50% travel is required for this position
Preferred Requirements:
• Master's degree (Business administration or quantitative field-Finance, Math, Stats).
• Collections strategy experience in consumer lending (ideally credit card or subprime) industry.
• Dialer experience
• Experience as a manager of managers.
• Demonstrated ability to lead and oversee analytics and scientific testing, including partnering with statisticians / modelers to develop scoring models, overseeing development of decision tree segmentations, overseeing champion vs. challenger testing, etc.
• Strong relationship building, communication and influencing skills; must be able to communicate with and influence executives and internal partners
• Knowledge or exposure to process design and engineering analysis and collections strategies.
• Familiarity with city, state, and federal rules and regulations related to collection activities.
• Strong analytical and problem-solving skills
• Clear thinking and decision-making
• Advanced oral and written communication skills
• Advanced Interpersonal communication skills
• Possess strong influencing and negotiation skills to work with internal and external resources
• Ability to lead and develop employees
EXPERIENCE/SKILLS
• 5 years’ experience in a call center environment
• Minimum 4 years’ experience working in a management capacity
• The candidate must have an aptitude for providing positive customer service, good communication, and problem solving skills
• Experience in the financial services industry
• Strong interpersonal, influencing and written/verbal communication skills + ability to synthesize information and prioritize actions.
• Ability to independently lead strategy and analytical projects from idea to implementation to post-implementation validation and performance monitoring.
• Ability to establish cross-functional partnerships
Additional Information
Benefits
• Medical / Dental/ Vision benefits available after 30 days of employment
• Company paid life insurance
• Paid holidays
• PTO/ 401K / Tuition Reimbursement
• On-site wellness center
All your information will be kept confidential according to EEO guidelines.