Collections Process Optimization Manager

3 weeks ago

Charlotte, North Carolina, United States Figure Full time

About Figure

Figure is a financial services company that is revolutionizing the industry with its cutting-edge technology platform. Our flagship product is the leading non-bank HELOC in America, and we are delivering new consumer lending products and a capital markets ecosystem that maximize efficiency and transparency by capitalizing on our loan origination activities, extensive network of partners, and growing pool of assets.

We are a team of 450+ people who have originated $11+ billion in loan volume and are growing fast. We have raised $469 million from top investors like Ribbit Capital, DST, Apollo, and Morgan Creek.

Our achievements have earned us recognition as a FastCo Most Innovative Company and one of the top 50 Blockchain Companies by Forbes.

About the Role

The Collections Process Optimization Manager will oversee the daily operations of the 0-60 day delinquent collections team for all Figure serviced products. This role will be accountable for individual collectors and overall team performance, with a primary KPI of 0-30 and 30-60 day role rates.

The ideal candidate will have 4+ years of experience in collections/default management, preferably in the Mortgage/HELOC space and early stage delinquency management. They will have a proven track record of meeting or exceeding collections targets and a strong knowledge of regulations relative to debt collection, such as CFPB rules, FDCPA, TCPA, Bankruptcy, and secondary market investor guidelines.

The successful candidate will also have proficiency in using collections software and systems, exceptional organizational and time management skills, and an analytical mindset with the ability to analyze data, identify trends, and make data-driven decisions.

Key Responsibilities

  • Develop and implement strategies to improve collection processes and efficiencies to maximize recovery and reduce roll rates.
  • Actively hire, train, manage, motivate, and coach a team of collectors through performance coaching and ongoing training to ensure consistent optimal performance and successful achievement of department goals.
  • Ensure compliance of the collections group with all applicable laws and regulations.
  • Prepare regular reports on collections activities, presenting data and insights to upper management to identify trends and recommend strategies.
  • Define system capabilities, evaluate current and potential technology use, and the need for improved performance.
  • Continuous development of incentive plan for the collectors that coincides with monthly/quarterly goals.
  • Collaborate with cross-functional teams, including legal, compliance, and customer operations, to enhance processes and resolve escalated customer issues.
  • Conduct frequent department meetings to provide organizational, department, and industry updates and facilitate the training and coaching of team members as needed.
  • May include management of 3rd party collection vendor and other 3rd parties such as vendors performing field visits.
  • Additional duties and assignments as needed.

What We Look for

  • Hands-on manager with 4+ years of collections/default manager experience preferably in the Mortgage/HELOC space and in early stage delinquency management.
  • Proven track record of meeting or exceeding collections targets.
  • BA/BS degree preferred.
  • Strong knowledge of regulations relative to debt collection such as CFPB rules, FDCPA, TCPA, Bankruptcy, and secondary market investor guidelines.
  • Proficiency in using collections software and systems.
  • Exceptional organizational and time management skills, with the ability to prioritize and handle multiple tasks simultaneously.
  • Analytical mindset, with the ability to analyze data, identify trends, and make data-driven decisions.
  • Excellent verbal and written communication skills, with the ability to effectively negotiate and persuade customers to resolve outstanding debts.
  • Exercises independent judgment in methods, techniques, and evaluation criteria for obtaining results.
  • Proficient with Microsoft Office Suite, comfortable creating reports for upper management, cross-functional, and investors.

Compensation and Benefits

We offer a competitive compensation package, including a salary range of $70,400 - $72,000, a 25% bonus target, equity stock options package, and comprehensive benefits such as health, vision, and dental insurance, HSA, FSA, Dependent Care, 401k, and commuter benefits. We also offer 11 observed holidays and an accrued PTO plan, up to 12 weeks paid family leave, and continuing education reimbursement.

Location

This role will be based in the office (hybrid) and will report to the Director of Servicing.

Figure will not sponsor work visas for this position. In compliance with federal law, all persons hired will be required to verify identity and eligibility to work in the United States and to complete the required employment eligibility verification form upon hire.

#LI-EK1 #LI-Hybrid

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