Collections Manager

Watercress Financial; Des Moines (IA); On-site; USD 45,000 - 65,000; Full time

Job summary

A leading financial services company is seeking a Collections Manager to enhance their accounts receivable and collections operations. The ideal candidate will possess strong leadership abilities, process improvement skills, and a deep understanding of compliance within consumer finance. Responsibilities include managing the collections team, optimizing strategies, and ensuring regulatory compliance while maintaining a customer-centric approach.

Qualifications

• 3+ years of experience in consumer loan collections, with at least 1 year in a supervisory or management role.
• Strong understanding of FDCPA, CFPB regulations, and best practices in collections.

Responsibilities

• Lead and develop a team of collectors, setting performance goals and providing coaching.
• Implement data-driven strategies to improve collection rates while maintaining compliance.
• Stay updated on relevant laws and ensure company policies align with legal requirements.

Skills

Leadership and team development

Strong negotiation and conflict resolution skills

Data analysis and reporting

Effective verbal and written communication

Education

Bachelor’s degree in business, finance, or a related field

Tools

contact-center software

Job description

2 days ago Be among the first 25 applicants

We are seeking aCollections Managerto lead and enhance our accounts receivable and collections operations in the consumer lending industry. This role ensures the efficient recovery of outstanding balances while maintaining a strong customer-centric approach. The ideal candidate will bring leadership, process improvement skills, and a deep understanding of compliance and regulatory requirements within consumer finance.

Key Responsibilities

• Manage the Collections Team– Lead and develop a team of collectors, setting performance goals and providing coaching.
• Optimize Collection Strategies– Implement data-driven strategies to improve collection rates while maintaining compliance with state and federal regulations.
• Ensure Regulatory Compliance– Stay updated on relevant laws (FDCPA, CFPB, UDAAP) and ensure company policies align with legal requirements.
• Bankruptcy Strategy- Manage Procedure and Strategies for Bankruptcy, Settlements and Deceased Claims.
• Monitor Performance Metrics– Track KPIs such as delinquency rates, recovery percentages, and call center effectiveness, adjusting strategies accordingly.
• Customer-Centric Collections– Balance firm but fair collections strategies to maintain positive borrower relationships and minimize charge-offs.
• Collaborate Across Departments– Work closely with loan servicing, risk management, and finance teams to improve workflows and reduce delinquency rates.
• Handle Escalated Cases– Oversee resolution of complex or high-risk accounts requiring special handling.
• Technology & Process Improvements– Recommend and implement automation tools or process enhancements to increase efficiency in collections.
  

Description

We are seeking aCollections Managerto lead and enhance our accounts receivable and collections operations in the consumer lending industry. This role ensures the efficient recovery of outstanding balances while maintaining a strong customer-centric approach. The ideal candidate will bring leadership, process improvement skills, and a deep understanding of compliance and regulatory requirements within consumer finance.

Key Responsibilities

• Manage the Collections Team– Lead and develop a team of collectors, setting performance goals and providing coaching.
• Optimize Collection Strategies– Implement data-driven strategies to improve collection rates while maintaining compliance with state and federal regulations.
• Ensure Regulatory Compliance– Stay updated on relevant laws (FDCPA, CFPB, UDAAP) and ensure company policies align with legal requirements.
• Bankruptcy Strategy- Manage Procedure and Strategies for Bankruptcy, Settlements and Deceased Claims.
• Monitor Performance Metrics– Track KPIs such as delinquency rates, recovery percentages, and call center effectiveness, adjusting strategies accordingly.
• Customer-Centric Collections– Balance firm but fair collections strategies to maintain positive borrower relationships and minimize charge-offs.
• Collaborate Across Departments– Work closely with loan servicing, risk management, and finance teams to improve workflows and reduce delinquency rates.
• Handle Escalated Cases– Oversee resolution of complex or high-risk accounts requiring special handling.
• Technology & Process Improvements– Recommend and implement automation tools or process enhancements to increase efficiency in collections.
  

Requirements

Qualifications

• Education:Bachelor’s degree in business, finance, or a related field preferred but not required.
• Experience:3+ years of experience in consumer loan collections, with at least 1 year in a supervisory or management role.
• Knowledge:Strong understanding ofFDCPA, CFPBregulations, and best practices in collections.

Skills:

• Leadership and team development
• Strong negotiation and conflict resolution skills
• Data analysis and reporting
• Familiarity with contact-center software (such as Five9)
• Experience managing schedules, queues and workloads of employees
• Effective verbal and written communication

Seniority level

• Seniority level

  Mid-Senior level

Employment type

• Employment type

  Full-time

Job function

• Job function

  Accounting/Auditing and Finance

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