Recovery Operations Manager Jobs

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The role

The Recovery Operations Manager will lead a team responsible for managing SoFi’s post charge-off external vendor relationships across Agency collections, Debt Sales, and Litigation. This individual will ensure SoFi’s Recovery policies, strategies, and overall playbook for the post charge-off space are adhered to, and all necessary operational controls are in place and monitored. They will work closely with SoFi’s risk strategy team to review and assess the performance of our approach across the different recovery streams, and execute test and learn scenarios, or make recommendations on enhancements that may benefit the business.

The role will also have operational risk oversight of recovery functions including litigation, bankruptcy, probate, asset sale, consumer credit counseling engagements, debt settlements and SoFi’s Internal Recovery Unit. This individual will partner with SoFi’s Operations audit and QA/QC teams on the development of reporting (Control MIS) to ensure general compliance.

This team member will bring strong collections and recovery industry knowledge, and vendor management experience. They will be expected to provide meaningful insights into best practices in Collections and Recovery operations, and related regulatory developments (eg. OCC Bulletin 2020-10, OCC Bulletin 2013-29, CFPB Reg. F), and identify trends which may present opportunities or reflect gaps in SoFi’s approach.

By joining SoFi, you'll become part of a forward-thinking company that is transforming financial services for the better. We offer the excitement of a rapidly growing startup with the stability of an industry leading leadership team.

What you’ll do:

The Recovery Operations Manager will lead SoFi’s engagement with external agencies working our charged-off accounts. This individual will:

• Prepare and present regular performance updates of our Recovery streams across key success metrics, and compare against Plan and Forecast.
• Participate in the capacity planning process; review vendor’s headcount needs against projected volumes to ensure adequate coverage in support of SoFi’s strategic objectives and OKRs.
• Draft Strategy change-briefs and Business Requirement Documents for any proposed change that requires management approval or engineering execution.
• Act as a conduit between SoFi’s strategy team and our external vendors; assist with conducting periodic tests to optimize our recovery performance. Work with the SoFi team and vendors to analyze test results, and facilitate rollout, as desired.
• Review SoFi’s customer complaints at the different vendors, and partner with them in the identification, tracking and resolution of customer issues and concerns.
• Establish regular reviews of vendor due diligence through on-site operational risk audits to ensure adequate controls and alignment with contractual agreements.
• Manage a team tasked with ensuring external agencies and attorneys are working within the guidance of SoFi’s Recovery playbook; implementing desired strategies to drive performance while offering our members a quality customer experience.
• Partner with SoFi’s Risk teams in developing robust oversight of risks, controls, and compliance of our recovery vendors.

What you’ll need:

• Experience building robust controls across collections and recovery operations
• An understanding of the various regulatory policies guiding the consumer collection and recovery industry, including FDCPA, TCPA, UDAAP, FCRA, Reg B., CFPB Reg. F, OCC Bulletin 2020-10, OCC Bulletin 2013-29 etc.
• Bachelor’s degree
• Strong communication skills (must be comfortable building presentations in PowerPoint or GoogleSlides, and presenting), and excellent organizational and time management skills.
• The ideal candidate will have significant vendor management experience across collections and recovery agencies, litigation and bankruptcy attorneys, probate, debt buyers, Credit Counseling Agencies, DSAs, and other collections and recovery players.
• Highly motivated to collaboratively deliver solutions in a multi-product environment. Excellent analytical and data manipulation skills (excel pivot tables, power point, SQL a plus). Ability to read, understand, and leverage large data sets in crafting a narrative. The candidate should be comfortable running tests on various hypotheses at the vendor, reading their performance, and making recommendations on implementation.
• A team leader, able to motivate and develop their staff. Intellectually curious, consistently probing for answers and better ways of doing things.
• 10+ years of collections and recovery industry experience, including hiring and managing collection teams, and creating and implementing operational processes.

Nice to have:

• Experience leading or working on an Internal Recovery Unit (IRU)
• Experience managing a lender’s engagement with Debt Settlement Companies (DSA / DSC)
• Master’s degree

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.