Collections Department Leader

Fifth Third Bank • Cincinnati, OH

2d • Hybrid

About The Position

Make banking a Fifth Third better® We connect great people to great opportunities. Are you ready to take the next step? Discover a career in banking at Fifth Third Bank. YOUR RESPONSIBILITIES: The responsibilities for this role are below; you may support projects of varying complexity based on skill and organizational priorities.

Requirements

• A Bachelor’s Degree or equivalent experience.
• 5 or more years in financial services, customer services, and consumer collections.
• 5 or more years of management experience.
• Proven ability to interact with Senior Management.
• Strong interpersonal and communication skills.
• Innovative thinker that can drive change throughout the organization.
• Proven ability relative to forecasting delinquency, losses, and expenses.

Responsibilities

• Manages teams and/or multiple product lines within the Consumer Lending Collections function, with accountability for operational, vendor, customer, and financial risk management.
• Oversees large delinquency portfolios and departmental expense budgets, ensuring financial discipline and performance.
• Manages daily operations, productivity metrics, dialing strategies, scheduling, quality assurance, while ensuring compliance and operational excellence.
• Manages risks, monitors operational performance, and identifies opportunities for improvement to maximize productivity and ensure compliance with evolving regulatory requirements and internal policies.
• Understands and manages complex operational processes such as SCRA, Probate, Bankruptcy, Offsets, Loss Mitigation, Modification Programs, and Litigation, ensuring accurate execution and minimal errors.
• Implements process and procedural updates to maintain compliance and operational efficiency across all teams and functions.
• Identifies and manages issue resolution by assessing severity, assigning ownership, and ensuring timely and transparent resolution of risks that impact the Bank.
• Ensures compliance with all regulations related to collections and customer communications. Maintains accurate procedures and documentation, and coordinates updates in response to changes in state and federal laws.
• Minimizes financial loss and maximizes recoveries by managing frontline teams and vendor relationships, adapting strategies to meet evolving Bancorp and customer needs.
• Establishes and maintains strong working relationships with internal partners across Business Controls, IT, Legal, Compliance, Product, Operations Support, Risk, and Finance, as well as external vendors and stakeholders.
• Partners with Risk Strategy and business support teams to support the development, testing, and implementation of strategic initiatives that improve customer experience, reduce losses, and manage expenses.
• Partners with campus management, IT Risk Partners, and technical teams to manage workforce operations across in-office, hybrid, and remote environments.
• Manages the development, enhancement, and sustainability of onboarding programs and continuing education for new and existing staff across the line of business.
• Leverages customer sentiment and complaint data to monitor service quality and recommend process improvements that enhance customer experience and operational efficiency.
• Leads effectively by hiring top talent, setting goals, developing staff, managing performance and compensation decisions, promoting teamwork, and addressing disciplinary matters as needed.
• Coordinates vendor management activities, including collaboration with internal teams and external partners. Tracks, measures, and evaluates vendor performance while ensuring due diligence and risk mitigation.
• Collaborates with Enterprise Vendor Management to ensure vendor performance aligns with contractual obligations, including Letters of Engagement and Service Level Agreements.
• Responsible for providing employees timely, candid and constructive performance feedback; developing employees to their fullest potential and providing challenging opportunities that enhance employee career growth; developing the appropriate talent pool to ensure adequate bench strength and succession planning; fostering a positive work environment and rewarding employees for accomplishments.

Benefits

• Comprehensive benefits and differentiated compensation offerings
• Eligible to participate in an incentive compensation plan
• Extensive benefits programs designed to support the individual needs of our employees and their families, encompassing physical, financial, emotional and social well-being.

What This Job Offers

• Job Type: Full-time
• Career Level: Senior