Collections Sr Department Leader

Fifth Third Bank • Grand Rapids, MI

38d • 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.

Requirements

• This position requires an experienced level of proficiency.
• We require a Bachelor's Degree or equivalent experience, along with 10 or more years in financial services, customer services, and consumer collections.
• This role also requires 5 or more years of management experience.
• Negotiation and Collaboration Skills: Ability to negotiate and collaborate with others.
• Executive Interaction Ability: Ability to interact with Bancorp senior management.
• Regulatory Communication Skills: Ability to effectively communicate with regulators.
• Interpersonal and Analytical Skills: Strong interpersonal, communication and analytical skills.
• Change Leadership: Innovative thinker that can drive change throughout the organization.

Nice To Haves

• Forecasting Experience: Proven ability relative to forecasting delinquency, losses, and expenses.

Responsibilities

• Team and Product Line Leadership: Leads large-scale teams and/or multiple product lines within the Consumer Lending Collections function, with accountability for operational, vendor, customer, and financial risk management.
• Portfolio and Budget Management: Oversees the management of delinquency portfolios and departmental expense budgets to ensure financial discipline and performance.
• Operational Oversight: Oversees daily operations, productivity metrics, dialing strategies, scheduling, quality assurance, while ensuring compliance and operational excellence.
• Operational Excellence and Compliance: Drives operational excellence by managing risk, optimizing productivity, and identifying strategic opportunities for improvement. Ensures compliance with evolving regulatory requirements and internal policies.
• Complex Process Management: Manages complex operational processes such as SCRA, Probate, Bankruptcy, Offsets, Loss Mitigation, Modification Programs, and Litigation, ensuring accuracy and consistency in execution.
• Process Improvement Implementation: Implements process and procedural updates to maintain compliance and operational efficiency across all teams and functions.
• Issue Management Leadership: Leads issue management efforts by assessing severity, assigning ownership, and driving resolution with transparency and urgency.
• Stakeholder Relationship Management: 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.
• Strategic Initiative Execution: Partners with Risk Strategy and business support teams to execute strategic initiatives that enhance customer experience, reduce losses, manage expenses, and mitigate risk.
• Workforce Management: Collaborates with campus management, IT Risk, and technical support teams to manage a geographically dispersed workforce across in-office, hybrid, and remote environments.
• Leadership Delegation: Acts as a delegate for the Director of Consumer Lending Collections in various forums and serves as interim leader when required, ensuring continuity of leadership and strategic direction.
• Risk Issue Resolution: Ensures timely and effective resolution of issues that pose risk to the Bank, maintaining a culture of accountability and responsiveness.
• Regulatory Monitoring and Communication: Monitors changes in state and federal laws, implements necessary updates, and enhances communication effectiveness through cross-departmental coordination.
• Regulatory Compliance: Ensures compliance with all regulations related to collections and customer communications, and maintains accurate, up-to-date procedures that govern operations.
• Vendor Oversight: Provides daily oversight of offshore vendor operations, drives performance, and identifies process improvements while ensuring compliance with policies and procedures.
• Vendor Relationship Management: Manages all vendor relationships, including performance tracking, risk assessments, and due diligence, in collaboration with internal stakeholders.
• Contractual Compliance: Collaborates with IT to ensure vendor performance aligns with contractual obligations, including Letters of Engagement and Service Level Agreements.
• Offshore Team Support: Supports the design, delivery, and communication of departmental changes for offshore teams, ensuring staffing alignment and adherence to budget.
• Training Program Oversight: Oversees the development, enhancement, and sustainability of onboarding and continuing education programs for new and existing staff.
• Talent Management: Demonstrates leadership by hiring top talent, setting goals, developing staff, managing performance and compensation decisions, promoting teamwork, and addressing disciplinary matters as needed.
• Customer Experience Enhancement: Leverages customer sentiment and complaint data to enhance customer experience and streamline operational processes for greater efficiency.
• Loss Mitigation Strategy: Minimizes financial loss and maximize recoveries by leading high-performing teams and vendors, adapting strategies to meet evolving Bancorp and customer needs.
• Supervisory Responsibilities: 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; recognizing and rewarding employees for accomplishments.

Benefits

• Our Total Rewards include comprehensive benefits and differentiated compensation offerings to give each employee the opportunity to be their best every day.
• In addition to the base salary, this role is eligible to participate in an incentive compensation plan, with any such payment based upon company, line of business and/or individual performance.
• Our extensive benefits programs are 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: Mid Level
• Industry: Credit Intermediation and Related Activities
• Number of Employees: 5,001-10,000 employees