Director of Consumer Lending Collections
Fifth Third Bank
full-time
Posted on:
Location Type: Office
Location: Cincinnati • Missouri, Ohio • 🇺🇸 United States
Visit company websiteJob Level
Lead
About the role
- Provides leadership and strategic vision with overall responsibility for leading the Consumer Lending Collections department
- Provides the strategic direction and oversight to ensure that Fifth Third Bank maintains a highly effective Consumer Lending Collections operation
- Evaluates the industry, market, and regulatory environment to anticipate changes and helps ensure appropriate alignment
- Responsible for risk by openly exchanging ideas and opinions, elevating concerns, and personally following policies and procedures as defined
- Accountable for always doing the right thing for customers and colleagues and ensures that actions and behaviors drive a positive customer experience
- Achieves results by consistently identifying, assessing, managing, monitoring, and reporting risks of all types
- Leads the Consumer Lending Collections department and oversees multiple product lines in business or function
- Oversees the management of large delinquency portfolios and the expense budget for the department
- Orchestrates daily operations, productivity metrics, dialing strategies, scheduling, quality assurance, while ensuring compliance and operational excellence
- Monitors regulatory developments and ensures full compliance with all applicable laws and guidelines impacting collections
- Aligns with Consumer LOB leadership to develop and achieve agreed upon delinquency and reduction of charge offs
- Implements process and procedural updates to maintain compliance and operational efficiency across all teams and functions
- Cultivates strong partnerships with Bancorp credit and risk management to provide feedback and maintain acceptable credit and operational risk with a customer centric approach
- Partners and works closely with Risk Strategy and business support team to drive the identification, development, testing, and execution of strategic initiatives that reduce losses and improve customer experience
- Provides delinquency trends, inputs, and outlook to the process for Bancorp forecasting credit losses
- Establishes and maintains strong working relationships with internal partners across Business Controls, IT, Legal, Compliance, Product, Operations Support, Risk, and Finance, and with external vendors and stakeholders
- Oversees risk management practices, drives operational performance, and identifies opportunities for continuous improvement and productivity enhancement
- Ensures awareness of evolving regulatory landscape and adherence to all laws and regulations impacting the business
- Resolves escalated issues with urgency and precision, ensuring customer satisfaction and operational integrity
- Negotiates contracts with service providers, outsource partners and loan charge-off sales
- Leads talent strategy by attracting, developing and retaining a high performing team
- Develops/maintains customer assistance tools, leveraging voice analytics, and tracking complaints to analyze/fix pain points
- Maintains contact with other lending institutions and industry associations to remain informed of trends and builds industry relations through networking
- Responsible for providing employees with timely, candid, and constructive performance feedback, developing employees to their fullest potential and providing challenging opportunities that enhance employee career growth
Requirements
- Bachelor’s degree in a related field or equivalent experience
- 10 or more years in financial services, customer services, and consumer collections
- 8-10 years of mid to senior level management experience
- Executive Communication and Influence
- Strong change leadership skills and ability to innovate
- Ability to communicate effectively and present to external regulators (OCC/CFPB)
- Leadership skills, initiative, detail oriented, strong analytical skills, and decision-making skills
- Strong interpersonal, communication and analytical skills
- Innovative thinker that can drive change throughout the organization
- Proven ability relative to forecasting delinquency, losses, and expenses.
Benefits
- comprehensive benefits and differentiated compensation offerings
- extensive benefits programs designed to support the individual needs of our employees and their families, encompassing physical, financial, emotional and social well-being
Applicant Tracking System Keywords
Tip: use these terms in your resume and cover letter to boost ATS matches.
Hard skills
financial servicesconsumer collectionsrisk managementdelinquency forecastingbudget managementcomplianceoperational performanceprocess improvementdata analysisperformance feedback
Soft skills
leadershipexecutive communicationchange leadershipinnovationinterpersonal skillsanalytical skillsdecision-makingcustomer-centric approachrelationship buildingproblem-solving