Head of Collections/Collections Strategy Manager
We have an exciting Head of Collections job opportunity working for a rapidly expanding financial services business based on the outskirts of Harrow. The Head of Collections will be responsible for leading and controlling the collections teams and strategies to ensure that business targets and objectives are met within regulatory and legislative requirements. Initially responsible for a growing team and department, there is excellent scope for career progression and development, taking full ownership of what will be a large collections function. We are looking for candidates with strong management experience within collections (B2C) from the financial services industry. Importantly you must also have the experience and ability to develop and implement strategy.
Salary is negotiable with an excellent benefits package including an attractive quarterly bonus, 25 days holiday and company pension scheme.
Duties and responsibilities:
- Managing all key stages of the collections process utilising internal IT platforms and external data sources
- Take responsibility for monitoring internal performance and external indicators, collaborating with internal & external experts to embed effective policies, staying one step ahead of the competition
- Proactively identify opportunities to enhance strategy and policy that maximise value through reduced impairment
- Creation and maintenance of policy and strategy documentation
- Presentation of analysis and results to senior management and key stakeholders
- Act proactively to identify & provide key developmental opportunities and support to the team and to give feedback on performance to these individuals as appropriate
- Lead development of collections contact and operational strategies through champion/challenger testing and data driven decisions, particularly aligning contact strategies to deliver the impairment goals
- Lead the selection and maintenance of the debt purchaser panel including due diligence, contractual negotiations, and on-going compliance and performance management.
- Lead selection and performance management of all external debt collection agencies and trace suppliers.
- Budget ownership and payment responsibility for all recovery suppliers
- Lead all recovery functions including debt sale, DCA placement, debt management companies & charities, as well as internal/external legal recoveries function.
- Ensure compliance with applicable regulation policy for internal teams and third parties
- Represent key recovery and industry forums, gather and share information relating to Collection and Recoveries markets, regulations and key players
- Responsible for ensuring Loan Management Platform is fit for purpose and drive improvements and simplification
- Lead, coach and develop staff to ensure competence and achievement of potential whilst managing performance via the Performance Development Framework
- Ensure department adherence to internal/external compliance and audit requirements
- Strong collections experience from within a B2C financial services company
- Strong background of strategy development across dialler, IVR, SMS, Email, and Web channels
- Highly numerate with ability to source & interpret data in absence of dedicated analytical support
- Understanding of impairment, flow rates, and key collections drivers
- Ability to communicate and influence senior stakeholders through strong presentation, written, and verbal language skills
- Knowledge of FCA and legal requirements related to consumer finance
- Industry experience in debt sale and DCA management
- In depth knowledge of TCF principles, FLA, and other applicable regulation
- Strong third party audit and control background
- Strong stakeholder and people management skills
- Understanding and history working with IVA, Bankruptcy, DRO, and other similar procedures
- Understanding of Collections processes for unsecured products
- Previous experience in a Credit Risk or Collections Strategy function
- Experience with sub/near prime portfolios
- Experience in project management
- Previous experience with budget ownership
- Previous experience with contract development and negotiation
- Strong experience in change and system implementations - specifically collections & placement systems
If you would like to hear more about this exciting opportunity, please apply now and we will be in touch to discuss this role in more detail.
Looking for the next step in your career? Think Specialist Recruitment.
Think Specialist Recruitment is an independent support staff recruitment agency based in Hemel Hempstead and working across the Herts, Beds and Bucks area. We specialise in permanent, temporary and contract recruitment with areas of expertise including: administration, customer service/call centre, PA/secretarial, human resources, accountancy and finance, sales admin/sales support, marketing and IT Helpdesk/IT support.