Senior Manager, Internal Recovery Operations
Senior Manager, Internal Recovery Operations
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Not Disclosed
Salary Not Disclosed
1 Vacancy
Job Description
The Role:
The Senior Manager Internal Recovery Operations for SoFis Internal Recovery Unit (IRU) will lead collection activities on post chargeoff Personal Loan and Credit Card accounts. This individual will manage the execution of SoFis Recovery playbook a bifurcated approach that combines direct engagement with Debt Settlement Companies (DSC) with omnichannel call center collections.
This person will support the continuing growth of SoFis DSC roster managing the recruitment and onboarding of new DSCs (targeting those with sizable market share). This individual will ensure formal NDAs and data security agreements are in place partnering with our engineering team to provide proper SFTP and ShareFile protocols. This individual will own the biweekly collation of active DSC inventory to scrub against SoFis Lending portfolio (the primary way we identify members working with DSCs).
This person will also lead SoFis collection activities on nonDSC accounts. They will ensure their agents abide by SoFis Recovery operations policies and procedures including the establishment and review of operational controls. They will work closely with SoFis Collections strategy team to review strategy results and execute testandlearn scenarios to optimize our portfolio performance.
A strong candidate will benefit from a seasoned understanding of consumer lending collections and recovery and vendor management. They will be expected to offer meaningful insights on best practices in the industry and have a view on regulatory standards (eg. OCC Bulletin 202010 OCC Bulletin 201329 FDCPA CFPB Reg. F).
The successful candidate should be comfortable navigating the different streams of recovery operations including litigation bankruptcy probate debt sale and consumer credit counseling agency management.
What Youll Do:
The Senior Manager Internal Recovery Operations will lead our direct engagement with DSCs representing chargedoff SoFi accounts and collection activities on nonDSC accounts. This individual will:
- Execute a collections strategy that combines omnichannel call center collections with direct engagement with Debt Settlement Companies (DSC) representing SoFi members.
- Drive the expansion of SoFis DSC partnerships coordinating the onboarding of market share leaders.
- Manage daytoday operations of a collections team. Recruit onboard train and support collection agents. Set performance goals track progress and deliver reviews.
- Draft strategy changebriefs and Business Requirement Documents for proposed initiatives requiring management approval or engineering execution.
- Prepare and present regular performance updates on our Recovery operations across key success metrics (compared against Plan and Forecast).
- Partner with SoFis Risk teams in developing robust oversight of risks controls and compliance of our recovery vendors.
- Review customer complaints emanating from your unit and craft resolutions.
- Manage the capacity planning process for the IRU work with Workforce Management on the proper staffing of the IRU
- Implement proper controls for all areas of the IRU.
What Youll Need:
- 10 years of collections and recovery industry experience including hiring and managing collection teams and creating and implementing operational processes.
- The ideal candidate will have vendor management experience across collections and recovery agencies Debt Settlement Agencies Litigation and Bankruptcy attorneys Probate Debt buyers and CCCS agencies.
- Highly motivated to collaboratively deliver solutions in a multiproduct environment. Excellent analytical and data manipulation skills (excel pivot tables power point SQL a plus). Ability to read understand and leverage large data sets in crafting a narrative. The candidate should be comfortable running tests on various hypotheses at the vendor reading their performance and making recommendations on implementation.
- Strong communication skills (must be comfortable building presentations in PowerPoint or GoogleSlides and presenting) and excellent organizational and time management skills.
- An understanding of the various regulatory policies guiding the consumer collection and recovery industry including FDCPA TCPA UDAAP FCRA Reg B. CFPB Reg. F OCC Bulletin 202010 OCC Bulletin 201329 etc.
- Experience building robust controls across collections and recovery operations
- A team leader able to motivate and develop their staff. Intellectually curious consistently probing for answers and better ways of doing things.
- Bachelors degree is required
Nice To Have:
- Masters degree
- Contract management
- Experience manipulating large data sets
Required Experience:
Senior Manager
Employment Type
Intern
