Lead the Collections Team located in one of VW Credit, Inc.'s Financial Service Centers, providing support to the Director, Asset Protection and Resolution to successfully achieve departmental objectives. Assist in the development and direction of streamlined processes, programs, systems and guidelines for the Service Center Collections Department while insuring compliance with all associated regulatory requirements at the state and federal levels. The Senior Manager of Collections will support the attainment of the objective level delinquency rate for the VW Credit, Inc. receivables portfolio, minimize credit losses and deliver the highest possible level of service to the customer base. Additionally, ensure team members are effectively recruited, trained, developed and mentored to foster a high performing team and an environment that aligns with our mission to be a top employer of choice.
Performance and Quality Management – (20%)
- Partner with the Collections Leadership Team and Risk to assist in the creation of comprehensive tracking and reporting systems designed to accurately measure departmental productivity, facilitate effective capacity planning monitor departmental performance against established objectives.
- Oversee the establishment of clearly defined performance metrics and development plans for all employees through the monthly/annual review process to not only successfully achieve objective level targets, but also to create a strong departmental succession plan.
- Manage a staff of 80+ employees, including Collection Managers, Supervisors and various specialized Analysts, responsible for delinquency management, loss mitigation, asset resolution, recovery, fraud and vendor support.
Leadership and Communications – (20%)
- Create and present Collections Department processes and/or project updates, personnel changes, improvement initiatives, or strategic shifts during operational management meetings, town halls, and other large-group forums.
- Help develop and articulate a compelling vision of the future for the department across all positions and roles. Strongly advocate for the value the department brings.
- Engage with industry participants and external resources on benchmarking activities in effort to leverage best practices, identify relevant industry trends, improve processes and strategies and stay abreast of the continually evolving regulatory environment.
- Maintain strong awareness of industry regulatory changes and adjust collections processes and/or strategies accordingly to mitigate risk exposure and ensure proper corporate compliance.
- Service Center Operations Management – (20%)
- Partner with the Director, Asset Protection and Resolution to effectively manage the Service Center's cost center budget of $3+ million, ensure successful achievement of departmental budgetary goals and seek avenues to reduce expenditures.
- Oversee business continuity plans and exercises. Lead local response efforts in the event of a real emergency.
- Sponsor local activities to promote employee engagement. Engage with local business support functions (e.g. Chamber of Commerce) to ensure that Volkswagen Credit, Inc. is properly represented in the community.
- Partner with other Service Center leaders to ensure general and administrative activities are properly performed and reviewed including facilities and administrative budgets.
- Training and Operational Excellence – (15%)
- Oversee all pertinent process areas with the department including, but not limited to the following: inbound and outbound collection calls, delinquent account management, skip tracing, vendor management, repossession processing, insurance total loss claims processing, vehicle impound resolution, bankruptcy management, compliance adherence, legal settlements, charge off processing and recovery (deficiency and lease end-of-term) collections.
- Collaborate with various business units, including, but not limited to, Risk Management, Legal and Compliance, Enterprise Support, Purchasing, Controlling, Finance, IT, and Human Resources in effort to drive initiatives that increase productivity, mitigate loss exposure, reduce expenses, promote employee satisfaction, advance technology, and enhance strategies.
- Identify gaps in our processes and/or opportunities for improvement. Provide ongoing direction to the Collections Training and Quality Team to ensure the successful delivery of high-quality curriculum, resulting in a highly trained and knowledgeable staff, a consistent customer experience, and strict adherence to all company policies and external regulatory requirements.
- Vendor and Project Management – (15%)
- Lead efforts to identify and implement improvements in process and technology by advocating for operational business needs, submitting project requests with favorable ROI's and representing Collections in the successful completion of such projects.
- Ensure the successful execution of a vendor management strategy in partnership with Risk, IT Security and Legal and Compliance; adjust audit requirements and strategy parameters, when necessary, to ensure strict compliance with company policies and external regulatory requirements.
- Customer Service – (10%)
- Partner with other, customer-facing areas of the organization, including Customer Experience, Dealer Remarketing, Originations, and Field Operations to build strong business relationships, share best practices and create processes that deliver a consistent customer experience.
- Promote a differentiated service culture that results in award-winning experiences for VCI customers
- Effectively respond to customer concerns and escalates issues as appropriate to ensure effective and meaningful resolution
- Partner with the Legal and Compliance to ensure strict adherence to, not only Volkswagen Credit's General Procedures, but also federal, state and local laws and regulations, including, but not limited to, FDCPA and CFPB
- 10+ years of relevant consumer service/finance experience with strong knowledge of collections operations
- 5+ years of leadership, including experience in leading multi-functional teams, managing daily operations, employee development, capacity planning, strategic goal attainment, and budget management
- Demonstrable career progression, including skill development and scope of responsibility increases
MBA or other relevant Master's degree
- Experience leading significant project initiatives
- Strong communication skills (written and oral) with natural talent for "building a story" to make a case for a process, product, or new business
- Disruptive mindset, content but never satisfied, with proven ability to assess current functionality and its conflicts with goals of unit
- Willingness to take risks and act decisively regarding new opportunities
- Demonstrated project leadership (preference for being able to lead more than one simultaneously)
- Strong ability to actively engage and inspire medium-to-large workforce (80+)
- Cross-functional leadership skills with ability to influence other senior managers using persuasion
- Strong strategic acumen with vision of future state and ability to map steps to accomplish it
- High performance culture mindset that stresses excellence with empathy towards workforce that must thrive in it
Thorough knowledge and understanding of:
- Automotive financing principles
- Analytical and conceptual thinking – using logic and reason, creative and strategic
- Communication skills – interpersonal, presentation, and written
- Integration – joining people, processes or systems
- Influencing and negotiation skills
- Versatile leadership skills and styles
- Budgetary knowledge and skills – for large business operations
- Resource management
- Understanding of regulatory compliance rules that impact Collections, Contact Center, and Consumer Finance industry
- Collections strategies, systems, processes, and philosophies (e.g. automated outbound dialing systems, credit risk, and behavioral scoring strategies)
- PQM/Six Sigma/Lean project experience
- Vendor Management skills including performance metrics, creative performance incentive structure creation, and cost/benefit analysis
- Call Center acumen
Travel up-to 30% of the time, with flexibility to work extensive hours dependent on project deadlines and multiple/concurrent priorities.