The Director, Collections will provide leadership to the team of Managers to control portfolio delinquency and mitigate losses in all phases of the retail account management process, which includes Modifications, Work-Out management, Assignment and Assumptions, Repossessions, Remarketing, End of Term/Lease and Recovery. This position has overall responsibility for managing accounts and will work closely with various departments including Cash Applications/Accounting, Customer Service, Retail Credit, Sales, Legal, Process & IT and Insurance.
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Provide strong demonstrated leadership, management and coordination abilities for all managers and employees within the Collections, Remarketing and Recovery Departments. In conjunction with the Collections/Operations Managers, Credit Managers, Directors, Executives and In-house Legal staff, develops and implements collections and repossession procedures and processes including training of personnel in collections, account management, fraud detection, repossession practices and techniques.
Reviews status of delinquent accounts with Collection Managers, Directors, Credit Managers, Finance, Risk and Executive Staff on a continuing basis to achieve and maintain portfolio quality and goals.
Provides analysis on delinquency and loss trends and recommends and implements appropriate collection strategies for delinquent accounts within authority levels.
Conducts performance appraisals, gives feedback to employees, and maintains effective two-way communication.
Generates reports for management and assists in special projects as requested.
Develop appropriate metrics to measure Collections department efficiency and provide policies, procedures and processes to improve overall risk and performance.
Review and approve transactions from Collections, Remarketing and Recovery within delegated authority.
Ability to perform business industry analysis to effectively communicate risk and opportunities to senior management.
Recruit, develop, retain and mentor employees to ensure the necessary business skills are present to support business objectives.
Provide Leadership in all aspects of VFS’s interaction with third party collection agencies and repossession agencies including performance, customer service, expense management and dispute resolution.
Associated vendor management responsibilities.
Communicates and builds upon relationships with our associated Business Areas and dealer base.
Lead team efforts related to process improvements, process management, and quality in daily work as they relate to the Collections, Remarketing and Recovery departments.
Work with Process & IT to implement efficient systems and new technologies to enhance the end to end work flow of collections, remarketing and recovery.
Education and Experience Required
BS/BA in finance, accounting, related field and 8 years minimum of related work experience.
At least eight (8) years' experience in heavy equipment commercial credit and collection management.
At Least 8 years’ experience in the commercial trucking, construction equipment, motor coach or other related equipment industry.
8+ years of proven leadership, management skills and experience leading self directed work teams preferred.
A working knowledge of the Fair Debt Collection Act, the Fair Credit Reporting Act and state and federal laws applying to collection & repossession activities and bankruptcy proceedings.
Required Competencies and Skills
Strong organizational skills, with the ability to prioritize and work effectively on multiple tasks in a fast paced, demanding environment.
Understand customer’s business issues and needs.
Effective, professional communication and negotiation skills.
Ability to motivate, develop and provide leadership and direction to employees.
Customer Service and Quality focused, with proven process improvement skills while setting a professional tone.
Demonstrated influencing and interpersonal skills supported by a highest level of integrity.
Innovative problem solving, research, qualitative, quantitative and analytical skills
Ability to provide leadership in role planning, restructuring and executing new processes and procedures. Demonstrated leadership expertise as a change agent.
Have the ability to be a strategic as well as a tactical leader
Demonstrated computer skills & MS Office proficiency.
Effective written and verbal communication skills.
Innovative problem solving and analytical skills.
A high level of integrity, energy, and a positive customer and quality focus with ability to work within and in support of a team environment.
Proficiency in reading, writing and speaking English; additional languages a plus
Required Leadership Competencies:
Managers at the Leading People level are required to meet or develop to the “skilled level” for the following leadership competencies:
Delegation: Clearly delegates both routine and important tasks/decisions; shares responsibility and accountability while trusting people to perform. Inspires others to be action oriented. Holds individuals accountable for results
Developing Direct Reports and Others: Provides challenging and stretching assignments; holds frequent development discussions; is aware of each person's career goals. Works with performance issues in a consistent manner.
Directing Others: Establishes clear direction; lays out work in a well-planned and organized manner. Maintains two-way dialogue with team; Brings out the best in people. Inspires others and promotes team building.
Managing Diversity: Manages all kinds and classes of people equitably; deals effectively with all races, nationalities, cultures, disabilities, ages and genders while supporting equal and fair treatment and opportunity for all
Fairness to Direct Reports: Acts fairly; has candid discussions without a hidden agenda, never gives preferential treatment
Informing: Provides information people need to know to do their jobs and feel good about being a member of the team and/or the organization
Integrity and Trust: Widely trusted and seen as a direct, truthful individual who keeps confidences and admits mistakes. Never misrepresents him/herself for personal gain
Perseverance: Pursues everything with energy, drive, and a need to finish and seldom gives up before finishing, especially in the face of resistance or setbacks
Priority Setting: Spends time and the time of others on what's important; quickly senses what will help or hinder accomplishing a goal. Creates focus; eliminates roadblocks
Drive for Results: Exceeds goals successfully; consistently a top performer who steadfastly pushes self and others for results
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