Collections Sr Department Leader
Fifth Third Bank, N.A.
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YOUR RESPONSIBILITIES:
The responsibilities for this role are below; you may support projects of varying complexity based on skill and organizational priorities.
+ Team and Product Line Leadership: Leads large-scale teams and/or multiple product lines within the Consumer Lending Collections function, with accountability for operational, vendor, customer, and financial risk management.
+ Portfolio and Budget Management: Oversees the management of delinquency portfolios and departmental expense budgets to ensure financial discipline and performance.
+ Operational Oversight: Oversees daily operations, productivity metrics, dialing strategies, scheduling, quality assurance, while ensuring compliance and operational excellence.
+ Operational Excellence and Compliance: Drives operational excellence by managing risk, optimizing productivity, and identifying strategic opportunities for improvement. Ensures compliance with evolving regulatory requirements and internal policies.
+ Complex Process Management: Manages complex operational processes such as SCRA, Probate, Bankruptcy, Offsets, Loss Mitigation, Modification Programs, and Litigation, ensuring accuracy and consistency in execution.
+ Process Improvement Implementation: Implements process and procedural updates to maintain compliance and operational efficiency across all teams and functions.
+ Issue Management Leadership: Leads issue management efforts by assessing severity, assigning ownership, and driving resolution with transparency and urgency.
+ Stakeholder Relationship Management: Establishes and maintains strong working relationships with internal partners across Business Controls, IT, Legal, Compliance, Product, Operations Support, Risk, and Finance, as well as external vendors and stakeholders.
+ Strategic Initiative Execution: Partners with Risk Strategy and business support teams to execute strategic initiatives that enhance customer experience, reduce losses, manage expenses, and mitigate risk.
+ Workforce Management: Collaborates with campus management, IT Risk, and technical support teams to manage a geographically dispersed workforce across in-office, hybrid, and remote environments.
+ Leadership Delegation: Acts as a delegate for the Director of Consumer Lending Collections in various forums and serves as interim leader when required, ensuring continuity of leadership and strategic direction.
+ Risk Issue Resolution: Ensures timely and effective resolution of issues that pose risk to the Bank, maintaining a culture of accountability and responsiveness.
+ Regulatory Monitoring and Communication: Monitors changes in state and federal laws, implements necessary updates, and enhances communication effectiveness through cross-departmental coordination.
+ Regulatory Compliance: Ensures compliance with all regulations related to collections and customer communications, and maintains accurate, up-to-date procedures that govern operations.
+ Vendor Oversight: Provides daily oversight of offshore vendor operations, drives performance, and identifies process improvements while ensuring compliance with policies and procedures.
+ Vendor Relationship Management: Manages all vendor relationships, including performance tracking, risk assessments, and due diligence, in collaboration with internal stakeholders.
+ Contractual Compliance: Collaborates with IT to ensure vendor performance aligns with contractual obligations, including Letters of Engagement and Service Level Agreements.
+ Offshore Team Support: Supports the design, delivery, and communication of departmental changes for offshore teams, ensuring staffing alignment and adherence to budget.
+ Training Program Oversight: Oversees the development, enhancement, and sustainability of onboarding and continuing education programs for new and existing staff.
+ Talent Management: Demonstrates leadership by hiring top talent, setting goals, developing staff, managing performance and compensation decisions, promoting teamwork, and addressing disciplinary matters as needed.
+ Customer Experience Enhancement: Leverages customer sentiment and complaint data to enhance customer experience and streamline operational processes for greater efficiency.
+ Loss Mitigation Strategy: Minimizes financial loss and maximize recoveries by leading high-performing teams and vendors, adapting strategies to meet evolving Bancorp and customer needs.
+ Supervisory Responsibilities: Responsible for providing employees timely, candid, and constructive performance feedback; developing employees to their fullest potential and providing challenging opportunities that enhance employee career growth; developing the appropriate talent pool to ensure adequate bench strength and succession planning; recognizing and rewarding employees for accomplishments.
MINIMUM REQUIREMENTS:
This position requires an experienced level of proficiency. We require a Bachelor’s Degree or equivalent experience, along with 10 or more years in financial services, customer services, and consumer collections. This role also requires 5 or more years of management experience.
REQUIRED SKILLS:
Qualified candidates will possess a degree of proficiency (typically from 10 or more years of work or practical experience), in:
+ Negotiation and Collaboration Skills: Ability to negotiate and collaborate with others.
+ Executive Interaction Ability: Ability to interact with Bancorp senior management.
+ Regulatory Communication Skills: Ability to effectively communicate with regulators.
+ Interpersonal and Analytical Skills: Strong interpersonal, communication and analytical skills.
+ Change Leadership: Innovative thinker that can drive change throughout the organization.
Please refer to the “Skills for Success” section to learn how to stand out as an applicant.
SKILLS FOR SUCCESS:
Qualified candidates will possess a degree of proficiency (typically from 10 years of work or practical experience), across a suite of skills including, but not limited to:
+ Forecasting Experience: Proven ability relative to forecasting delinquency, losses, and expenses.
DOING THE RIGHT THING: Our employees take pride in doing the right thing for customers and colleagues as well as being accountable for risk by openly exchanging ideas and opinions, elevating concerns, and following policies and procedures that protect all our valuable assets —including you.
Collections Sr Department Leader
At Fifth Third, we understand the importance of recognizing our employees for the role they play in improving the lives of our customers, communities and each other. Our Total Rewards include comprehensive benefits and differentiated compensation offerings to give each employee the opportunity to be their best every day.
The base salary for this position is reflective of the range of salary levels for all roles within this pay grade across the U.S. Individual salaries within this range will vary based on factors such as role, relevant skillset, relevant experience, education and geographic location. In addition to the base salary, this role is eligible to participate in an incentive compensation plan, with any such payment based upon company, line of business and/or individual performance.
Our extensive benefits programs are designed to support the individual needs of our employees and their families, encompassing physical, financial, emotional and social well-being. You can learn more about those programs on our 53.com Careers page at: https://www.53.com/content/fifth-third/en/careers/benefits.html or by consulting with your talent acquisition partner.
LOCATION -- Cincinnati, Ohio 45227
Fifth Third Bank, National Association is proud to have an engaged and inclusive culture and to promote and ensure equal employment opportunity in all employment decisions regardless of race, color, gender, national origin, religion, age, disability, sexual orientation, gender identity, military status, veteran status or any other legally protected status.
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