Director, Collections Strategy

Mary Dickson; Newark (DE); Hybrid; USD 140,000 - 210,000; Full time

Benefits offered by this job

Competitive base salary

Bonus incentives

Generous PTO & holidays

401k with employer match

Medical/dental/vision coverage

Hybrid work arrangements

Tuition reimbursement & career growth

Job summary

Sallie Mae is seeking a Director, Collections Strategy to shape and execute recovery and collections strategies for Private Student Loan portfolios. This role leads cross-functional initiatives, partners with internal teams, external agencies, and legal partners, and drives financial performance with a customer-centric approach.

The position requires strategic vision, strong leadership, and hands-on experience in a data-intensive environment, with proficiency in SAS, SQL, and MS Office.

Qualifications

• Bachelor’s Degree or equivalent work experience.
• 10+ years of experience in financial services.
• Experience in collections and recovery risk.
• Strong knowledge of U.S. consumer protection laws and credit regulations.
• Proficient in SAS, SQL & Microsoft Office.
• Experience with financial forecasting and modeling.
• Strong analytic and problem-solving skills.
• Experience with credit and financial models.
• Ability to communicate technical information to all audience levels.
• Ability to build relationships across internal and external partners.

Responsibilities

• Develop and execute collections strategy.
• Design and implement post-default recovery strategies across channels (in-house, external agencies, attorney network).
• Continuously evaluate and enhance collections contact strategies including AI capabilities.
• Collaborate with senior leadership to align collections strategy with organizational goals and credit risk policies.
• Provide thought leadership and strategic recommendations to drive financial results.
• Leverage data analytics to personalize outreach and enhance borrower engagement, optimizing resolution rates.
• Partner with cross-functional teams to ensure collections strategies are compliant and data-driven.
• Lead and mentor a high-performing collections team.

Skills

Leadership

Strategic planning

Analytical thinking

Communication

Project management

Education

Bachelor’s Degree or equivalent

Tools

SAS

SQL

Microsoft Office

Job description

When you join Sallie Mae, you become a champion for all students.We’re on a mission to power confidence as students begin their unique journey. To help them plan their higher education, successfully finish, and prepare for life after school. To help them Start smart. Learn big.Students need guidance navigating this important time in their life. They need someone who acknowledges that their education path is unique. They need a partner willing to evolve and not only meet but surpass their expectations. We’re changing. Because students need a better way.We’re looking for people who are excited to drive this transformation. To break barriers and think of new ways to adapt, help, and create better experiences for students—and for each other.This is where diverse backgrounds, beliefs, and perspectives matter. It’s where you’re empowered to bring your authentic self to work.Feeling your best allows you to do your best. Our benefits take care of the whole you—from physical and mental to financial and professional. You’ll get opportunities to further your education and career, support for you and your family (including your pets!), paid time off to volunteer for the things that matter to you, and more.We’re obsessed with impact and making a real difference. For us, that means putting relationships first, asking “why not?” when tackling challenges, and continuously learning new skills.Come do more than join something, change something. For students, for future generations, for the future of education.

The Director, Collections Strategy

The Director, Collections Strategy will play a pivotal role in shaping and executing the Recovery and Collections Contact 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. This role can be located in our Newark, DE office or our Sterling, VA office with a planned move to Arlington, VA in Fall 2026.

What You'll Do

• Develop and Execute Collections Strategy
• Design and implement comprehensive post‑default recovery strategies across all collection's channels (in‑house collections, external agencies, attorney network).
• Continuously evaluate and enhance collections contact strategies including the development and build‑out of AI capabilities.
• Collaborate with senior leadership to align collections strategy with organizational goals and credit risk policies.
• Provides thought leadership and strategy recommendations to drive financial results.
• Leverage data analytics to personalize outreach and enhance borrower engagement, optimizing resolution rates.
• Manages key partnerships across the business to influence change.

First Line of Defense

• Leads team efforts on first line of defense testing and monitoring.
• Leads efforts for defining and implementing testing of new or changed regulations or guidance from Law & Compliance.

Manage Reporting and Analytics

• Partner closely with cross‑functional teams to ensure collections strategies are compliant and data driven.
• Develop and monitor key performance metrics to measure 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.
• Assists with training and recruitment of new staff.
• Lead and Mentor a High‑Performing Collections Team
• 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.

What you have

• Bachelor’s Degree, Business, Economics or related field or equivalent work experience.
• 10+ 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.

The Americans with Disabilities Act

The Americans with Disabilities Act of 1990 (ADA) prohibits discrimination by employers, in compensation and employment opportunities, against qualified individuals with disabilities who, with or without reasonable accommodation, can perform the “essential functions” of a job. A function may be essential for any of several reasons, including: the job exists to perform that function, the employee holding the job was hired for his/her expertise in performing the function, or only a limited number of employees are available to perform that 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

Sallie Mae is proud to be an equal opportunity (EEO) employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, gender, sexual orientation, national origin, age, genetic information, gender identity, disability, Veteran status or any other characteristic protected by federal, state or local law. Click here to view the U.S. Pay Transparency Policy, here for federal job applicant notices, and here to view the California Employee Privacy Notice. Reasonable accommodations are available for applicants with disabilities in all phases of the application and employment process. To request an accommodation please call (855) 756‑2007 and choose option 9. All information you provide will be kept confidential and will be used only to the extent required to provide needed reasonable accommodations.

Summary

• Location: Newark, DE; Sterling, VA
• Type: Full time