I'm currently working on a VP, Credit & Collections opportunity with a growing financial services company. This role reports directly to the Chief Risk Officer and is responsible for shaping the collections strategy, optimizing recoveries, and leading both in-house and external collections teams.
I'm looking to connect with candidates who have 10+ years of experience in collections management, particularly in unsecured lending and subprime. The ideal candidate will possess strong leadership skills, a data-driven approach, and expertise in regulatory compliance and collections technology.
Key Responsibilities
- Develop and execute a strategic collections plan to improve recoveries and reduce credit losses.
- Lead and mentor a high-performing collections team, fostering a culture of accountability and continuous improvement.
- Leverage data analytics and segmentation strategies to enhance collections efficiency and effectiveness.
- Work closely with credit, legal, retail, and operations teams to drive process enhancements and operational improvements.
- Establish performance metrics and track key indicators to evaluate and refine collections strategies.
- Build and maintain relationships with third-party agencies, legal advisors, and technology providers to strengthen recovery efforts.
- Ensure full compliance with regulatory standards, internal policies, and consumer protection laws.
- Implement quality control measures to mitigate compliance risks and uphold best practices in collections.
- Stay updated on industry trends, emerging technologies, and best practices to continuously improve collections strategies.
Qualifications & Experience
- Bachelor's degree in finance, business administration, or a related field; an advanced degree is preferred.
- At least 10 years of progressive experience in collections management within financial services, especially in unsecured lending.
- Strong background in developing and implementing collections strategies while ensuring regulatory compliance.
- Proven leadership skills with a track record of managing and developing high-performing teams.
- Excellent analytical, problem-solving, and decision-making abilities.
- Experience with collections technology, predictive analytics, and data-driven decision-making is a plus.
