Director of Collections

JOB SUMMARY:  Responsible for directing several functional business units in Collections. The position contributes towards and supports the attainment of the Company designated annual goals by efficiently overseeing all aspects of loan servicing operations to include, but not limited to; loan administration and servicing, collections, bankruptcy, recovery, and vendor management, in accordance with policies and procedures.

ESSENTIAL JOB FUNCTIONS:

• Develops objectives to specify short term and long-term plans in accordance with the Company’s strategic goals.
• Works with the Financial Department to prepare the annual and mid-year budget for the department.
• Ensures compliance and has clear understanding of FDCPA, TCPA, investor requirements, company policy & procedure requirements and state and/or federal regulations.
• Assists in the evaluation, testing and/or modifying of current or new procedures, according to user requirements that conform to regulatory guidelines.
• Creates, implements and manages the Collection department’s operations and utilizes the latest technology and techniques to maximize efficiency. Provides a good understanding of system conversions and implementation of new software requirements.
• Ensures that the automated processes and systems are properly functioning at all times.
• Monitors and evaluates delinquency, risk, gain and loss using various tools, such as

 market trending and loan performance. Meets company standards related to established delinquency resolution timelines.

• Designs and updates incentive programs for staff, as needed, as well as ensures that the staff is achieving goals and metrics as outlined in incentive and performance policies.
• Monitors productivity, accuracy and overall job performance for staffing efficiencies.
• Trains, develops and assists with career pathing of staff members.
• Resolves escalated complaint calls and provides assistance as needed.
• Ensures compliance within area of responsibility. Makes recommendations for improving effectiveness of policies and procedures.
• Ensure Collection department meets service delivery excellence through metric definition, monitoring, tracking and corrective action plans.
• Assists in the development and implementation of goals, objectives, policies, procedures and work standards for the Department.
• Directs and manages the workflow activities of the collections, and vendor management.
• Oversees and assists with internal audits and independent third-party audits of portfolio loans. Produces critical and time-sensitive deliverables for executive management, as needed.
• Provides leadership, coaching, mentoring and training to staff, as needed.
• Resolves compliance issues; recommends changes to processes to meet requirements.
• Demonstrates energy and a desire to succeed; follow through on commitments; push self and others to deliver exceptional results
• Manages and executes pre and post charge off strategies
• Continually seek further knowledge on investor and company guidelines and be willing to adapt to changes quickly and apply knowledge to current practices.
• Champions partnership with internal departments for efficiency and excellent customer service.
• Provides strong knowledge in developing end-to-end processes, controls and key performance indicators.
• Evaluates appropriate staffing regularly to help meet company expectations.
• Directs and manages third party vendors, including due diligence, relations, contracts, performance

 

OTHER JOB FUNCTIONS:

• Availability to work weekends
• Must be able to work a Flexible schedule

 

MINIMUM QUALIFICATIONS: To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed below are representative of the minimum knowledge, skill, and/or ability required.

 

• High school diploma or equivalent required.

• 5+ years previous management experience in a call center atmosphere
• 10+ years previous experience in Call Center/Collection environment
• Proficient in Microsoft Office for Windows (Outlook, Word, and Excel)
• In-depth knowledge of FDCPA guidelines and other regulations pertaining to debt collections.

 

COMPETENCIES:

• Customer Service: Exceptional attitude and a passion for providing outstanding service to internal customers.
• Attention to Detail:  Thoroughness in accomplishing a task through concern for all the areas involved, no matter how small. Monitors an