VP, Member Recovery

LendingClub•Lehi, UT

4d•$230,000 - $260,000•Hybrid

About The Position

We are looking for a results-driven and strategic VP, Member Recovery (Collections Operations) to lead our collections and post charge-off recovery efforts within the personal loans business unit. In this leadership role, you will focus on optimizing recovery strategies, managing collections processes, and driving performance improvements in the later stages of debt recovery, including the implementation of debit sales strategies. You will have extensive experience in collections management, a strong understanding of regulatory compliance, and a proven track record in achieving recovery targets.

Requirements

15+ years of experience in early-stage collections management, with at least 5 years in a leadership role focused on post charge-off recovery within financial services
10+ years relevant management experience managing a team in collections, accounts receivables or a related area
Proven expertise in developing and implementing effective collections strategies, including debt sales
Strong analytical skills with the ability to interpret data and make informed decisions and recommendations
Strong leadership skills with a passion to engage and inspire individuals to achieve greater success
Excellent communication and interpersonal skills, with the ability to influence and drive change across the organization
Effective organizational skills and ability to manage multiple projects in parallel
Experience with multi-channel Collections tools including outbound dialer, SMS, and e-mail
Knowledge of Collections contact center tools (ACD, IVR, Speech Analytics, Call Back Solutions, etc)
Thorough understanding of regulatory compliance related to debt collection practices

Responsibilities

Develop and execute comprehensive pre and post charge-off recovery strategies to maximize collections on charged-off personal loans
Oversee the implementation of debt sale programs, including the evaluation of third-party buyers and negotiation of terms to optimize recovery outcomes
Lead and mentor a high-performing collections team, fostering a culture of accountability and continuous improvement
Develop talent through regular assessments, coaching, and training to enhance effectiveness in debt recovery while ensuring exceptional customer service and adherence to KPIs and SLAs
Lead a function of ~150 FTE in-house hourly associates with multiple direct reports, along with an off-shore partner site of ~50 hourly associates
Establish and track key performance indicators (KPIs) to measure the effectiveness of recovery efforts and proactively adjust strategies as needed
Prepare and present regular reports to senior management on recovery performance, challenges, and opportunities
Collaborate with cross-functional teams, including legal, compliance, people success, and finance, to enhance recovery processes and minimize losses
Maintain open lines of communication with external partners and vendors involved in debt recovery and sales
Stay informed about industry trends, competitor practices, and market conditions to effectively position the organization’s recovery strategies. Continuously refine strategies based on new data and evolving conditions
Leverage data analytics and changing technology (i.e. AI) to identify opportunities for improvement and innovation in recovery methods
Ensure all collections activities comply with applicable federal, state, and local regulations, including Fair Debt Collection Practices Act (FDCPA) and other relevant guidelines
Identify risks within the recovery process and implement measures to mitigate them
Ensure that all collection practices adhere to the TCPA regulations, which govern how and when consumers can be contacted by phone. This includes understanding the rules around auto-dialers, text, chat and pre-recorded messages, and obtaining prior consent
Oversee interactions with consumers, ensuring that the communication is respectful and compliant with legal standards. Address any consumer complaints related to collection practices