Late Stage Collection Specialist

Job Description

NewLane Finance Company (NewLane) is a commercial equipment finance company serving small and mid-size businesses mantra is business lending done right and our strategy is to revolutionize small business lending by employing the latest technology and a motivated workforce to deliver fair and transparent financing solutions to businesses with unmatched levels of speed convenience and customer service.

Our products and services are offered to businesses primarily through financing programs with equipment manufacturers distributors and dealers. NewLane is a subsidiary of WSFS Bank a $20 billion financial organization.

NewLane is immediately seeking an experienced Late-Stage Collections Specialist with strong skills in but not limited to ability to achieve targeted delinquency goals effective communication ability to identify issues and provide solutions attentiveness and time management. The successful candidate will also possess an energetic courteous and professional demeanor. This position will be reporting to the Director of Collections of NewLane.

NewLanes Values:

• Integrity
• Passion
• Teamwork
• Commitment to Excellence

The primary goal of the Collections Team is to maximize the recovery of outstanding balances with diligence consistency and integrity while supporting organizational goals and fostering collaboration within our team and company all while keeping delinquency and losses within plan.
This is a hybrid position working in our Philadelphia office 3 days a week (TuesdayThursday) with 2 days a week remote.

Responsibilities
Reporting to the Director of Collections the Late-Stage role is responsible for collecting and managing a portfolio of 61 delinquent accounts. This role has accountability for achieving delinquency and loss goals. Will be heavily involved with charge-offs settlements early-stage repossession working with Asset management and our Legal Department. This role requires a hands-on approach--regular and documented customer interaction creative problem solving and an ability to achieve goals.

• Manage assigned portfolio and credit loss metrics to budgeted (or below) levels aligned with NewLanes financial budget.
• Responsible for active portfolio monitoring of their queprioritizing calls updating leadership on relevant developments and ensuring productivity matches goals.
• Ensure individual Delinquency goals are understood and all activity is aligned to achieve the overall corporate goals.
• Assist Director of Collections with the management of the potential Late-Stage charge-off population to meet or beat monthly goals.
• Provide timely and proactive forecasting and delinquency reviews to the Director.
• Monitoring collection activity identifying trends and reporting on the status of outstanding balances.
• Maintaining accurate concise records of all communications with customers in Aspire including detail notes on delinquency reason and ensure all tools are proactively utilized such as: site inspections legal demand/repossession letters payment arrangements settlements and follow-up activities in the system of record.
• Analyze corporate and personal financial data asset values and other relevant information to assess the appropriate course of action to optimize amounts collected.
• Identifying new Late-Stage contact development strategies and efficiencies--ex collectionse-mail campaigns including innovative methods to reach customers productivity reviews and correction when needed.
• Collaborate with Credit Sales Legal and Operations on implementation of strategy and treatment programs. Use cross-functional resources as neededincluding Recovery Asset Management and Credit.
• Participate in monthly Charge-Off Meetings and Top Account reviews with Credit highlighting large deals reviewing progress and forecasts.
• Identifying and escalating complex or unresolved collection issues to appropriate personnel.
• Serves as key resource and Subject Matter Expert (SME) for all collection items related to late-stage collections.

Qualifications

• Bachelors degree in business/finance or equivalent preferred.
• Minimum of 5 years of financial services collections experience with (3) or more as a late-stage agent. High-volume business to business collection experience is a must.
• Understanding of equipment leasing terminology and documentation.
• Strong understanding of accounts receivable payment application and account reconciliation
• Strong proficiency in Aspire SalesForce in addition to advanced skills in MS Officeespecially Tableau PowerPoint and Excel (Pivot Tables and V-Lookups).
• Customer service orientation adhering to the core values and behaviors of NewLane.
• Creative thinker and key contributor to developing and deploying collections strategies and tactics to late-stage collections.
• Excellent analysis skillsable to review metrics results and recommend changes or alternative work efforts to combat delinquency and losses.
• Strong prioritization and execution skills
• Process improvement skills include the ability to use process improvement tools and methodologies to advance the Collections function.
• Technical aptitude with strong logical problem solving and decision-making skills.
• Highly organized and meticulous with the proven ability to multi-task.
• Strong written and verbal communication and people skills and ability to work with various staff levels within the organization.

Salary Range:

Individual base pay may vary on additional factors such as the candidates experience job-related skills relevant education geographic location and other specific business and organizational needs.

In addition to base salary WSFS Financial Corporation (WSFS) and its subsidiaries may offer eligible Associates discretionary and formula-based incentive and retention awards. WSFS provides a competitive benefits package which includes medical dental and vision coverage; a 401(k) plan; life accident and disability insurance; flexible spending accounts (FSAs) and health savings accounts (HSAs); and wellness programs. Additional benefits may include paid parental leave military leave vacation and other paid time off sick leave in accordance with applicable state laws and paid holidays. Benefit offerings are subject to eligibility requirements legal limitations and may vary based on an Associates location and employment status. For more information about Associate benefits please visit Bank is inclusive and supportive of individual needs. If you have a physical or other impairment that might require an accommodation including technical assistance with the WSFS Bank Careers website or submission process please contact us via email at

WSFS is an equal opportunity employer. We do not discriminate based upon race religion color national origin gender (including pregnancy childbirth or related medical conditions) sexual orientation gender identity gender expression age status as a protected veteran status as an individual with a disability or other applicable legally protected characteristics.