Senior Vice President, Loan Servicing and Collections

iCreditWorks leverages innovative technology and mobility to deliver an omnichannel platform experience with a broad “Point-Of-Sale” (POS) financing product suite, empowering consumers to take control of their financing. The first-of-its-kind iCreditWorks native mobile App delivers a simple, seamless, and secure financing experience that redefines the consumer journey.

Position Overview:

As the Senior Vice President, Loan Servicing and Collections, you will be responsible for leading all loan servicing activities for the company, reporting to the Chief Loan Operations and Service Officer. This role involves managing all aspects of the service experience delivered through internal and outsourced teams. The ideal candidate will have extensive experience in loan servicing and collections, exceptional leadership skills and a track record of leveraging leading-edge technology solutions to maximize engagement, customer satisfaction and support rapid scale.

Key Responsibilities:

Leadership

• Provide leadership, guidance, and mentorship to the servicing and collections team, fostering a culture of accountability, collaboration, and continuous improvement partnering with internal and outsourced resource
• Set clear performance expectations, establish goals, and monitor team performance to achieve service and collection targets and key performance indicators (KPIs).
•  Conduct regular performance evaluations, provide constructive feedback, and identify opportunities for training and development.

Customer Service

• Develop and implement service strategies and procedures to deliver a world-class experience with every interaction.
• Foster a customer-centric culture within the servicing and collections team, emphasizing empathy, professionalism, and effective communication.
• Maintain high levels of customer satisfaction by providing efficient and effective service across multiple services channels.
• Handle escalated customer issues and complaints, ensuring timely and satisfactory resolution.
• Gather and analyze customer feedback to improve servicing processes. Own and lead strategies to further enhance our external service reputation.

Collections

• Develop and implement collections strategies, policies, and procedures to optimize recovery efforts, aligned with the company's goals and risk appetite.
• Analyze delinquency and portfolio performance trends to identify areas for improvement and refine collection strategies.
• Collaborate with senior management to establish collection targets and performance benchmarks aligned with organizational objectives.
•  Manage relationships with third-party vendors and partners, such as collection agencies and legal firms, to ensure alignment with company standards and objectives.

Process Optimization

• Continuously evaluate and streamline collection processes, workflows and borrower communications to enhance effectiveness and improve the customer experience.
• Identify automation opportunities and leverage technology solutions to automate routine tasks, improve data analytics capabilities, and optimize resource allocation.
• Collaborate with cross-functional teams, including risk management, compliance, operations, and IT, to implement process improvements and system enhancements.

Compliance and Risk Management

• Ensure all loan servicing activities comply with federal and state regulations and internal policies. Partner with compliance on regulatory changes and update servicing procedures and practices accordingly.
• Assess credit risk and develop strategies to mitigate potential losses, including early identification of high-risk accounts and implementation of proactive risk management measures.
• Monitor and analyze portfolio performance metrics, such as delinquency rates, charge-off rates, and recovery rates, to identify emerging risks and opportunities for portfolio optimization.
• Implement effective loss mitigation strategies, including loan modifications and settlements, to minimize losses and maximize recovery.
• Partner with the Credit team to evaluate credit policy changes to mitigate future risk based on historic and emerging trends.

Reporting and Analysis:

• Generate, analyze, and present reports on loan servicing metrics to senior management.
• Identify trends, issues, and areas for improvement within the loan servicing department.
• Utilize data and facts to make informed decisions and recommendations.

Qualifications:

• Bachelor's degree in business administration, finance, or a related field.
• Minimum of 10 years of progressive experience in loan servicing and collections, with at least 5 years in a leadership role.
• Proven experience in customer service and consumer collections management, preferably in the financial services industry, with a track record of achieving collection targets and reducing delinquency rates.
• Experience implementing innovative technology solutions to improve collections outcomes, preferably with integration with an app-based solution
• Strong leadership and managerial skills, with the ability to motivate and inspire team members, drive results, and foster a culture of excellence and accountability.
• In-depth knowledge of consumer lending products, credit risk management principles, and collections best practices.
• Excellent analytical, problem-solving, and decision-making skills, with the ability to analyze complex data, identify trends, and develop actionable insights.
• Exceptional communication and interpersonal skills, with the ability to build rapport with internal stakeholders, external partners, and customers, and effectively communicate complex concepts to diverse audiences.
• Strong project management skills, with the ability to prioritize and manage multiple initiatives simultaneously and drive cross-functional collaboration.
• Commitment to maintaining high ethical standards, integrity, and confidentiality in all aspects of service and collections interactions.
• Willingness to adapt to a fast-paced and dynamic work environment, embrace change, and proactively seek opportunities for professional growth and development.
• Commercial/small business service and collections experience preferred.

Work Location: Onsite (Hybrid)