Director, Post Default Collections Strategy

Sallie Mae • Newark, DE

122d • Hybrid

About The Position

The Director, Post Default Collections Strategy will play a pivotal role in shaping and executing the post-default strategy for Private Student Loan portfolio in their first line of defense controls for Sallie Mae's. The position will report to the Senior Director, Post Default Collections Strategy. This leadership position will be responsible for driving the vision, development, and implementation of best-in-class recovery strategies to maximize asset recovery, minimize losses, and drive cost efficiencies. This role requires a deep understanding of the unsecured lending space, as well as an ability to influence cross-functional teams and external partners to deliver key financial and operational goals. The individual in this position will be expected to lead cross-functional initiatives across high performing teams to optimize post-default collections as well as setting up the strategies and standards to guide and work with internal collections teams, external agencies, and legal partners. The role demands a strategic mindset, strong leadership skills, and the ability to execute programs that drive financial performance while maintaining a customer-centric approach. The ideal candidate will bring a blend of strategic vision, operational expertise, and hands-on tactical experience to the organization. This is a data intensive role and will require a hands-on approach at times. The preferred candidate will have a high competency in SAS, SQL & Microsoft Office products. The Director will be responsible for the end-to-end implementation of strategy and be able to assist with training and recruiting of new staff. The position interacts with senior management and will be required to present analysis, reporting and recommendations to Sallie Mae senior executives and governance committees.

Requirements

• Bachelor's Degree in Business, Economics or related field or equivalent work experience
• 7+ years of experience in financial services
• Previous collections and/or recovery risk experience
• Strong understanding of U.S. consumer protection laws, credit regulations, and industry best practices (e.g., Fair Debt Collection Practices Act, FDCPA)
• Proficient in SAS, SQL & Microsoft Office products
• Experience with financial forecasting, modeling processes and managing internal & external control requirements
• Strong analytic & problem-solving skills
• Experience working with credit and financial models
• Proven ability to communicate technical information effectively to all audience levels in a concise manner
• Ability to build and maintain strong relationships with internal and external partners, promoting a collaborative and positive work environment
• Strong communication and interpersonal skills with the ability to build relationships across business units
• Ability to operate in a fast-paced, time-sensitive environment effectively managing multiple and changing priorities

Responsibilities

• Develop and Execute Post Default Collections Strategy
• Design and implement comprehensive post-default recovery strategies across all collection's channels (in-house collections, external agencies, legal actions)
• Continuously evaluate and enhance recovery methodologies to optimize recovery rates, reduce net charge-off rates, and ensure timely resolution
• Collaborate with senior leadership to align collections strategy with organizational goals and credit risk policies
• Provide thought leadership and strategy recommendations to drive financial results
• Leverage data analytics to personalize outreach and enhance borrower engagement, optimizing resolution rates
• Manage key partnerships across the business to influence change
• Lead team efforts on first line of defense testing and monitoring
• Define and implement testing of new or changed regulations or guidance from Law & Compliance
• Manage reporting and analytics
• Partner closely with cross functional teams to ensure post-default strategies are compliant and data driven
• Develop and monitor key performance metrics to measure recovery performance and effectiveness across various channels
• Drive continuous improvement in collections processes, tools, and systems to enhance team productivity and recovery outcomes
• Prioritize and support team projects and initiatives
• Assist with training and recruitment of new staff
• Build and lead a team of collections professionals, ensuring they are motivated, skilled, and aligned with business objectives
• Develop training programs to ensure staff stays current with industry best practices, regulatory changes, and evolving collection strategies
• Foster a culture of accountability, innovation, and continuous improvement across the collections function

Benefits

• Competitive base salaries
• Bonus incentives
• Generous PTO, Floating Holidays and 12 Federal Holidays observed
• Support for financial-well-being and retirement 401k with employer match
• Comprehensive medical, dental, vision, hospital indemnity, critical illness, pet insurance and more
• Employer paid short-term/long-term disability and basic life insurance
• Flexible hybrid working arrangements
• Paid parental leave and adoption reimbursement programs
• Free access to on-site staffed fitness centers (in Delaware) and gym subsidy (for locations outside Delaware)
• Confidential counseling support (EAP), Health Advocacy services and Wellness program with financial incentives
• Tuition Reimbursement and Family Scholarship Programs
• Career development and training opportunities

What This Job Offers

• Job Type: Full-time
• Career Level: Senior
• Industry: Credit Intermediation and Related Activities
• Education Level: Bachelor's degree