SoFi Looking for Senior Director, Collections and Recovery at Greater Birmingham, Alabama Area Full Time

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Who we are:

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Together with our members, we’re changing the way people think about and interact with personal finance.

We’re a next-generation fintech company using innovative, mobile-first technology to help our millions of members reach their goals. The industry is going through an unprecedented transformation, and we’re at the forefront. We’re proud to come to work every day knowing that what we do has a direct impact on people’s lives, with our core values guiding us every step of the way. Join us to invest in yourself, your career, and the financial world.

The Role

This is an exciting opportunity to join a growing Collections Center of Excellence (CCoE) team with strong partnerships and working relationships across other key business functional areas. The Senior Director of Collections Operations role is critical to SoFi’s success and will establish the Collections Ecosystem & Digital Outreach Channels, integrate Self Service Platform and call Centers into the Fintech Operating Model, drive Cross-Functional orchestration teams (On/Off Shore, In-House/3rd Party Agency & Ownership) to increase collectability at both account & member level, and build a Strong Operations Team with effective Performance, Rigorous Change Management / Control & Robust NPS.

As the Senior Director of Collections Operations, you will bring new ways of thinking, data sources, technologies, and capabilities to SoFi and will serve as the voice of CCoE for our Consumer Lending products and technology teams to product the best-in-class rigorous controls processes, digital platform, self service payment solution and operations execution. You will make trade-offs across Collections and Recoveries effectiveness and efficiency while balancing regulatory and reputational considerations. As a leader, you will also be responsible for executing Baseline Strategies such as targeting, risk segmentation, contact, and fulfillment, partnering with the strategy team to run a series of rapid A/B tests against our largest & most innovative opportunities, and engaging with the Workforce Management/Capacity Planning teams to drive Operational performance.

What you’ll do:

• Manage end-to-end Consumer Lending Collections Operations at SoFi and establish robust OKRs
• Partner with the Strategy and Engineering & Product Development (EPD) teams to design and construct multi-digital contact channels, digital strategies, and self-service payment solutions to minimize losses and improve member experience
• Develop operational collections strategies that maximize resources while minimizing losses and expenses
• Ensure that forbearance programs and settlement offers are enrolled effectively and comply with legal, compliance, and regulation guidelines and procedures
• Develop and optimize operational strategies that balance effectiveness and efficiency through a combination of impact analysis, testing, and collaboration with stakeholders
• Evaluate the effectiveness of current loss mitigation policies, draw conclusions, and exert influence at all levels of the organization
• Work with Operations and EPD partners to identify gaps in system/operations process flows ensuring alignment of strategy/intent, execution, policies, state legalities, and regulatory guidelines as it relates to contacting delinquent customers
• Review KPI/KRIs to ascertain the state of collections and evaluate the effectiveness of current policies and procedures
• Monitor operational performance, roll rates, delinquent inventory, and credit loss trends. Effectively communicate these trends to executive management
• Manage, approve, and control collection-related expenses ensuring necessity and reasonability
• Ensure compliance with all federal and state laws, regulations, and company collection policies
• Serve as the primary point of contact for executive management questions on complaints and other challenging member issues
• Motivate and develop skills of managers through a combination of goal-setting, delegation, training, coaching, and performance review
• Develop and promote effective teamwork among all collection’s key functional areas, Business Units, Engineers, Finance, Supply Management, and other internal departments such as Loan Servicing, Capital Market, Legal, Compliance, and Quality
• Directly manage operations managers and employees. Carry out supervisory responsibilities in accordance with SoFi’s policies and applicable laws including interviewing, hiring, training, coaching, developing employees, directing work, planning and assigning, appraising performance, rewards/discipline, addressing complaints, and resolving problems
• Assess infrastructure needs and create gap analysis benchmarking between SoFi and industry capabilities. Design a roadmap to address the most critical operation needs

What you’ll need:

• 10+ years of collections and operations industry experience with a bachelor’s degree
• 4+ years of leadership experience, building and prioritizing teams and objectives
• Strong analytical and problem-solving skills to design workflows and procedures; identify and resolve problems in a timely manner; develop alternative solutions; work well in group problem-solving situations; use reason even when dealing with emotional topics; support SoFi’s overarching strategic goals relative to loss prevention
• Strong collections industry knowledge, including a sound understanding of relevant regulations like FDCPA, TCPA, FCRA, and a working knowledge of the impact of CFPB’s Reg F on the collections landscape
• Experience in digital outreach, personal messaging, web/app, channel segmentation optimization, and digital conversion rates
• Innovative and capable of developing creative solutions to complex, data-driven problems
• High motivation to drive change, eager to learn, and able to work collaboratively in a complex and fluid environment
• A history of success in leading initiatives and driving results through collaboration and hands-on work
• Excellent verbal and written communication skills
• Ability to collaborate well with teammates and business partners and influence business decisions

Nice to have:

• 10+ years of related experience with a master’s degree
• Experience managing a collection and/or recovery operations function at an executive level
• Student loan originations, consumer credit, or consumer lending experience desired
• Experience creating robust requirements for operational reporting

Compensation And Benefits

The base pay range for this role is listed below. Final base pay offer will be determined based on individual factors such as the candidate’s experience, skills, and location.

To view all of our comprehensive and competitive benefits, visit our Benefits at SoFi page!

SoFi provides equal employment opportunities (EEO) to all employees and applicants for employment without regard to race, color, religion (including religious dress and grooming practices), sex (including pregnancy, childbirth and related medical conditions, breastfeeding, and conditions related to breastfeeding), gender, gender identity, gender expression, national origin, ancestry, age (40 or over), physical or medical disability, medical condition, marital status, registered domestic partner status, sexual orientation, genetic information, military and/or veteran status, or any other basis prohibited by applicable state or federal law.

Pursuant to the San Francisco Fair Chance Ordinance, we will consider for employment qualified applicants with arrest and conviction records.

New York applicants: Notice of Employee Rights

SoFi is committed to embracing diversity. As part of this commitment, SoFi offers reasonable accommodations to candidates with physical or mental disabilities. If you need accommodations to participate in the job application or interview process, please let your recruiter know or email [email protected].

Due to insurance coverage issues, we are unable to accommodate remote work from Hawaii or Alaska at this time.

Internal Employees

If you are a current employee, do not apply here – please navigate to our Internal Job Board in Greenhouse to apply to our open roles.