Collections Sr Department Leader at Fifth Third Bank

Cincinnati, Ohio, United States

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Not SpecifiedCompensation

Senior (5 to 8 years), Expert & Leadership (9+ years)Experience Level

Full TimeJob Type

UnknownVisa

Banking, Financial Services, Consumer LendingIndustries

Requirements

Leadership experience managing large-scale teams and/or multiple product lines in collections or consumer lending
Expertise in operational, vendor, customer, and financial risk management
Knowledge of delinquency portfolio management and departmental budgeting
Proficiency in overseeing daily operations, productivity metrics, dialing strategies, scheduling, and quality assurance
Strong understanding of complex processes including SCRA, Probate, Bankruptcy, Offsets, Loss Mitigation, Modification Programs, and Litigation
Experience driving operational excellence, process improvements, and compliance with regulatory requirements and internal policies
Skills in issue management, assessing severity, assigning ownership, and driving resolution
Ability to establish and maintain relationships with internal partners (Business Controls, IT, Legal, Compliance, Product, Operations Support, Risk, Finance) and external vendors
Capability to execute strategic initiatives enhancing customer experience, reducing losses, managing expenses, and mitigating risk
Experience managing geographically dispersed workforces (in-office, hybrid, remote)
Regulatory knowledge of state and federal laws related to collections and customer communications
Vendor management expertise, including performance tracking, risk assessments, due diligence, and contractual compliance (e.g., SLAs, Letters of Engagement)
Talent management and leadership delegation skills, including acting as interim leader

Responsibilities

Leads large-scale teams and/or multiple product lines within Consumer Lending Collections, managing operational, vendor, customer, and financial risks
Oversees delinquency portfolios and departmental expense budgets for financial discipline and performance
Manages daily operations, productivity metrics, dialing strategies, scheduling, and quality assurance while ensuring compliance and excellence
Drives operational excellence by managing risk, optimizing productivity, and identifying improvement opportunities
Manages complex processes (SCRA, Probate, Bankruptcy, Offsets, Loss Mitigation, Modification Programs, Litigation) for accuracy and consistency
Implements process and procedural updates for compliance and efficiency
Leads issue management by assessing severity, assigning ownership, and driving resolution
Builds and maintains relationships with internal partners and external vendors/stakeholders
Partners on strategic initiatives to enhance customer experience, reduce losses, manage expenses, and mitigate risk
Collaborates on workforce management across in-office, hybrid, and remote environments
Acts as delegate for the Director in forums and serves as interim leader
Ensures timely resolution of risk issues with accountability
Monitors regulatory changes, implements updates, and improves cross-departmental communication
Ensures compliance with collections regulations and maintains up-to-date procedures
Provides daily oversight of offshore vendors, drives performance, and identifies improvements
Manages vendor relationships, performance, risk assessments, and due diligence
Ensures vendor alignment with contractual obligations via IT collaboration
Supports design, delivery, and communication of changes for offshore teams, including staffing and budget adherence
Oversees development, enhancement, and sustainability of onboarding and continuing education programs
Demonstrates talent management leadership

Skills

Team Leadership

Portfolio Management

Budget Management

Operational Oversight

Compliance Management

Risk Management

Process Improvement

Issue Management

Stakeholder Management

Vendor Management

Productivity Metrics

Quality Assurance

Dialing Strategies

SCRA

Bankruptcy

Loss Mitigation

Litigation

Fifth Third Bank

Provides banking, loans, and wealth management services

About Fifth Third Bank

Fifth Third Bank offers a variety of financial services, including personal and business banking, loans, mortgages, credit lines, and insurance products. Their services cater to individual consumers, small businesses, and commercial clients, providing comprehensive solutions for managing finances. The bank generates revenue through interest on loans, service fees, and commissions from insurance and investment products. Unlike many competitors, Fifth Third Bank emphasizes community engagement and financial education, providing resources to help clients improve their financial literacy. The goal of Fifth Third Bank is to support clients in achieving their financial objectives while fostering a strong connection with the communities they serve.

Cincinnati, OhioHeadquarters

1858Year Founded

IPOCompany Stage

Social Impact, Financial ServicesIndustries

10,001+Employees

Benefits

Health Insurance

Paid Sick Leave

Paid Holidays

Performance Bonus

Flexible Work Hours

Risks

Rising interest rates may decrease demand for loans and mortgages.

Competition from fintechs like Robinhood threatens Fifth Third's wealth management sector.

Sophisticated cybersecurity threats pose risks to customer data and trust.

Differentiation

Fifth Third Bank offers comprehensive financial solutions for individuals and businesses.

The bank emphasizes community engagement and financial education for client empowerment.

It provides a wide range of insurance products, including life, health, and disability.

Upsides

Increased demand for digital banking boosts Fifth Third Bank's online service offerings.

Partnerships with fintech enhance technological capabilities and customer experience.

Growing interest in sustainable finance attracts environmentally conscious customers.

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