Head of Recovery

About Upstart

Upstart is a leading AI lending marketplace partnering with banks and credit unions to expand access to affordable credit. By leveraging Upstart's AI marketplace, Upstart-powered banks and credit unions can have higher approval rates and lower loss rates across races, ages, and genders, while simultaneously delivering the exceptional digital-first lending experience their customers demand. More than two-thirds of Upstart loans are approved instantly and are fully automated.

Upstart is a digital-first company, which means that most Upstarters can live and work anywhere in the U.S. We also have offices in San Mateo, California; Columbus, Ohio; and Austin, Texas.

Most Upstarters join us because they connect with our mission of enabling access to effortless credit based on true risk. If you are energized by the impact you can make at Upstart, we’d love to hear from you!

The Team

As the Head of Recovery Operations and Performance at Upstart, you will work within the Operations organization and partner closely with Compliance, Legal, Product and Engineering to build a robust Recovery operation focused on post-charge off management of accounts and strategies. You will partner with Customer Service, Collections, Onboarding and other teams to create an approach unique to Upstart and our partners.

You will be responsible for leading, setting strategy and having operational oversight of recovery efforts including asset sales, 3rd party collection agency selection, management,  performance, and various other strategies to recover dollars post charge off. You will lead a growing group of individuals and vendors who focus on optimizing our strategy. 

In this position you will be responsible for people and vendor/agency management. You will  manage a team of vendor relationship managers  focused on delivering strong performance.  Additionally, you will be innovative in setting recovery strategy, partnering with vendors, lending partners and our capital markets team  to ensure we are using technology to improve efficiency and effectiveness while operating in compliance with all regulatory requirements. 

 

Position Location - This role is available in the following locations: Remote, San Mateo, CA or Columbus, OH

Time Zone Requirements - This team operates on the East/West Coast time zones.

Travel Requirements - As a digital first company, the majority of your work can be accomplished remotely. The majority of our employees can live and work anywhere in the U.S but are encouraged to to still spend high quality time in-person collaborating via regular onsites. The in-person sessions’ cadence varies depending on the team and role; most teams meet once or twice per quarter for 2-4 consecutive days at a time.

How you’ll make an impact:

• Lead a team of managers, vendors and agents to maximize recovery efforts on charged-off loans.
• Evaluate agency performance and design an appropriate placement strategy. Maximize performance of these agencies through the implementation of a robust agency monitoring program.
• Oversee Debt Sales from debt buyer selection, pricing, bids, forward flow sales and spot sales. Conduct regular audits of the debt buyers to monitor for adherence to Upstarts standards.
• Maintain regular audits of all recovery vendors to ensure compliance with laws, regulations and contractual obligations.
• Cultivate strong relationships with all Recovery partners and any 3rd party collection agencies collecting on accounts that are not yet charged off.
• Develop and monitor key KPIs and other performance metrics. Use the data to set and design strategies, including segmentation and approach.
• Regularly report out on performance, trends and progress. This role is responsible for communicating the overall health of the Recovery organization.
• Lead and drive change within the Recovery organization to build infrastructure, policy, strategy, and technology improvements.
• Implement or expand recovery strategies that may include litigation or probate management.
  

 

What we’re looking for: 

• Minimum qualifications:
  • 6+ years of experience managing recovery efforts on charged-off loans while developing and executing strategy.
  • Experience building and leading  recovery teams focused on processes such as vendor oversight,  third party collections, debt sales, probate and litigation strategies.
  • Experience working with charged-off  loans, setting strategy, leading projects and an in-depth understanding of recovery metrics.
  • Big picture thinker: You understand how all stakeholders behave and perform, and are highly capable of combining