Manager, Collections

Sallie Mae Bank; Indianapolis (IN); On-site; USD 65,000 - 85,000; Full time

Job summary

Sallie Mae Bank in Indianapolis, Indiana, is seeking a Collections Manager to oversee the collections department. The role involves managing team performance, optimizing recovery strategies, and ensuring compliance with collections regulations.

The ideal candidate will have strong leadership skills and a proven track record in collections management. Preferred qualifications include a Bachelor's degree and at least 3 years of relevant experience. Sallie Mae is an equal opportunity employer.

Qualifications

• Strong knowledge of collections laws, regulations, and industry best practices.
• Demonstrated track record in managing collections operations and maximizing recovery rates.
• Experience in leading and developing a team of collection professionals.

Responsibilities

• Manage collections department ensuring smooth functioning of processes.
• Lead and motivate the collection team providing guidance and feedback.
• Implement strategies to optimize recovery rates while maintaining customer relationships.
• Handle escalated collections issues and complex customer disputes.
• Utilize software and tools to improve efficiency in collections.
• Prepare reports for management on collections performance.

Skills

Collections laws knowledge

Analytical skills

Leadership abilities

Communication skills

Problem-solving skills

Education

Bachelor's degree in business administration, finance, or related field

Tools

Collection software

Job description

Responsibilities

• Manage and supervise the collections department, ensuring smooth functioning of collections processes and timely recovery of outstanding debts.
• Lead and motivate a team of collection professionals, providing guidance, training, and performance feedback to drive productivity and effectiveness.
• Implement collections strategies and tactics to optimize recovery rates while maintaining positive customer relationships.
• Handle escalated collections issues, including complex customer disputes and negotiations for settlements.
• Utilize collection systems, software, and tools to streamline processes, improve efficiency, and enhance collections effectiveness.
• Prepare regular reports and presentations for senior management, providing insights on collections performance, trends, and recommendations for improvement.

Qualifications

Minimum Qualifications

• Strong knowledge of collections laws, regulations, and industry best practices.
• Demonstrated track record of effectively managing collections operations, reducing delinquency rates, and maximizing recovery rates.
• Excellent analytical and problem‑solving skills, with the ability to interpret data, identify trends, and develop effective strategies.
• Strong leadership abilities, with experience in leading and developing a team of collection professionals.
• Excellent communication and interpersonal skills, with the ability to collaborate and negotiate with stakeholders at all levels.
• Proficiency in using collection software, databases, and other relevant technologies.

Preferred Qualifications

• Bachelor's degree in business administration, finance, or a related field.
• 3 years of experience in collections management, with a minimum of 1 year in a supervisory or managerial role.

The above information is intended to describe the general nature and level of work performed by employees assigned to this job; it is not designed to contain or be interpreted as a comprehensive inventory of all duties, responsibilities and qualifications required of employees in this role.

The Americans with Disabilities Act (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. Reasonable accommodations are available for applicants with disabilities in all phases of the application and employment process. To request an accommodation please call [phone] 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.

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.