Director of Consumer Lending Collections

Fifth Third Bank • Cincinnati, OH

1d

About The Position

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 by maintaining industry best delinquency, credit loss results, customer satisfaction, and expense ratios. Evaluates the industry, market, and regulatory environment to anticipate changes and helps ensure appropriate alignment. Responsible and accountable 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. While operating within the Bank's risk appetite, achieves results by consistently identifying, assessing, managing, monitoring, and reporting risks of all types. Please see below for specific responsibilities and requirements for this role.

Requirements

• This position requires an experienced level of proficiency.
• We require a Bachelor’s degree in a related field or equivalent experience, along with 10 or more years in financial services, customer services, and consumer collections.
• This role also requires 8-10 years of mid to senior level management experience.
• Executive Communication and Influence: Must demonstrate the ability to communicate and influence Bancorp Senior and Executive level positions as well as build positive relationships with all divisions of the Bancorp.
• Change Leadership: Strong change leadership skills and ability to innovate.
• Regulatory Communication: Ability to communicate effectively and present to external regulators (OCC/CFPB).
• Leadership and Analytical Skills: Leadership skills, initiative, detail oriented, strong analytical skills, and decision-making skills.
• Interpersonal and Analytical Skills: Strong interpersonal, communication and analytical skills.
• Organizational Change Management: Innovative thinker that can drive change throughout the organization.

Nice To Haves

• Forecasting Experience: Proven ability relative to forecasting delinquency, losses, and expenses.
• Education: Master’s in Business Administration or related field.

Responsibilities

• Department Leadership: Leads the Consumer Lending Collections department and oversees multiple product lines in business or function with material responsibility for associated operational, vendor, customer, and financial risks.
• Portfolio and Budget Oversight: Oversees the management of large delinquency portfolios and the expense budget for the department.
• Operational Management: Orchestrates daily operations, productivity metrics, dialing strategies, scheduling, quality assurance, while ensuring compliance and operational excellence.
• Regulatory Compliance Monitoring: Monitors regulatory developments and ensures full compliance with all applicable laws and guidelines impacting collections.
• Strategic Alignment: Aligns with Consumer LOB leadership to develop and achieve agreed upon delinquency and reduction of charge offs.
• Process Improvement Implementation: Implements process and procedural updates to maintain compliance and operational efficiency across all teams and functions.
• Cross-Functional Collaboration: Cultivates strong partnerships with Bancorp credit and risk management to provide feedback and maintain acceptable credit and operational risk with a customer centric approach.
• Strategic Initiative Execution: 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, improve customer experience and effectively manages expenses, and/or reduces risk.
• Forecasting Support: Provides delinquency trends, inputs, and outlook to the process for Bancorp forecasting credit losses.
• 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.
• Risk and Performance Management: Oversees risk management practices, drives operational performance, and identifies opportunities for continuous improvement and productivity enhancement.
• Regulatory Awareness: Ensures awareness of evolving regulatory landscape and adherence to all laws and regulations impacting the business.
• Issue Resolution: Resolves escalated issues with urgency and precision, ensuring customer satisfaction and operational integrity.
• Vendor and Contract Negotiation: Negotiates contracts with service providers, outsource partners and loan charge-off sales.
• Talent Strategy Leadership: Leads talent strategy by attracting, developing and retaining a high performing team.
• Customer Experience Tools Development: Develops/maintains customer assistance tools, leveraging voice analytics, and tracking complaints to analyze/fix pain points.
• Industry Engagement: Maintains contact with other lending institutions and industry associations to remain informed of trends and builds industry relations through networking
• Supervisory Responsibilities : 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, developing the appropriate talent pool to ensure adequate bench strength and succession; fostering a positive work environment 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
• Number of Employees: 5,001-10,000 employees