Director, Collections, Recovery & Loss Mitigation Oversight, Consumer Lending (2nd Line of Defense)
Job Location:
Wilmington, DE - USA
Monthly Salary:
Posted on:
Vacancies:
Job Summary
Best Egg now part of Barclays is a market-leading tech-enabled financial platform helping people build financial confidence through innovative lending solutions and financial health tools. As a Barclays company we combine the agility and customer focus of a fintech with the global reach stability and purpose of a leading financial institutionworking together to create a better financial future for our customers and communities.
At Best Egg youll find a culture grounded in our core valuesputting people first creating clarity delivering with excellence enhanced by Barclays commitment to integrity inclusion and long-term impact. Together we empower our colleagues to challenge innovate and take ownership while making a meaningful difference in peoples financial lives.
With the strength of Barclays behind us we offer expanded opportunities for growth development and career mobility across a global organizationwhile continuing to build the products and experiences that make Best Egg unique.
Were looking for collaborative curious problem-solvers who are excited to make an impact and grow with us.
Were proud to be an equal opportunity employer committed to building a diverse and inclusive team.
We are seeking an experienced Director of Collections Recovery & Loss Mitigation Oversight to join our Second Line of Defense (2LOD).
This role will help develop and manage independent oversight challenge and governance across collections recovery and loss mitigation activities for our consumer lending portfolio supporting both unsecured and secured personal loan.
The ideal candidate will bring deep expertise in consumer lending lifecycle risk dialer and collection strategy management and cycle-based treatment strategies. This candidate will also have a strong understanding of regulatory expectations governing collections and loss mitigation practices.
Key Responsibilities:
Oversight & Governance
- Provide independent 2LOD oversight of collections recovery and loss mitigation strategies ensuring alignment with risk appetite and regulatory expectations
- Review and challenge 1LOD strategies policies and performance related to delinquency management charge-offs and recoveries
- Evaluate effectiveness of loss management frameworks including operational controls and decisioning processes
- Assess assumptions segmentation and scenario analyses used in forecasting delinquency charge-offs and recoveries
Collections & Recovery Risk Management
- Monitor collections and recovery performance across early- mid- and late-stage delinquency
- Evaluate vendor management practices (e.g. agencies debt buyers) and related risks
- Ensure appropriate controls exist for hardship programs forbearance and loss mitigation strategies
Regulatory & Compliance Oversight
- Ensure adherence to applicable consumer protection laws and regulations (e.g. FDCPA UDAAP FCRA Reg Z Reg B etc.)
- Support regulatory exams internal audits and issue remediation related to collections and recovery
Risk Reporting & Escalation
- Develop and present risk insights KPIs and emerging trends to key stakeholders as required
- Identify and escalate emerging risks control gaps or adverse trends in portfolio performance
- Contribute to enterprise risk assessments and governance forums
Integration & Change Management
- Review new strategies products or policy changes impacting collections and recoveries
- Provide risk guidance on transformation initiatives digital collections strategies and vendor changes
Qualifications:
Required Experience
- 10 years of experience in consumer lending credit risk collections recoveries or loss forecasting
- Experience in a 2LOD risk management model risk or audit function or strong exposure to independent oversight frameworks
- Demonstrated expertise in collections and recovery strategies including delinquency management and charge-off processes
Preferred Experience
- Experience within a FinTech and/or regulated banking environment
- Knowledge of vendor oversight and third-party risk management in collections
Regulatory Knowledge
- Working knowledge of U.S. consumer banking regulations including but not limited to:
- FDCPA UDAAP FCRA
- SCRA Regulation B (ECOA)
- Experience interacting with regulators internal audit or compliance functions preferred
Skills & Competencies:
- Strong risk mindset with ability to provide effective challenge and independent judgment
- Excellent analytical and problem-solving skills
- Ability to translate complex data into clear actionable insights
- Strong communication and stakeholder management skills including senior leadership interaction
- Proven ability to operate in a fast-paced evolving FinTech environment
- Willingness to adapt to a fast-paced environment and adjust priorities accordingly
Required Experience:
Director
About Company
Get low-interest personal loans quickly with Best Egg. Apply online in minutes & receive funds fast. Start your journey to financial stability now!
