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Arra Finance

Collections Manager

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What they do

A Collections Manager manages staff that record and process collections at a bank or financial services company. Ensures that checks presented to a bank clear and the amount is debited to the bank and credited to a customer account. Manages collection accounts for a bank, creditor loan company or collections agency. Tracks the amounts owed by a customer that has fallen behind on bill payments and negotiates re-payment.

$67,364 / year median in Texas

-7% projected decline

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Job Description

Arra Finance is a leading subprime auto-finance company which offers fast, simplified lending solutions for buyers and multiple compelling advantages for dealers. The company's cutting-edge auto finance platform provides franchise and independent dealerships across the United States with auto financing solutions for used car buyers. Its scalable loan origination system and data warehouse provides dealers with access to finance solutions and enables them to facilitate auto sales for the dealership customers. A collections manager is responsible for overseeing the collection operations and ensuring that they align with the business goals and delinquency measures. The collections manager also coaches and mentors the staff, develops new processes, and collaborates with internal and external stakeholders. The ideal candidate has experience in managing a high-performance team, strong negotiation and communication skills, and knowledge of industry trends and regulations. Responsibilities
  • Hire, train, and sustain high-performance teams through shared goals, shared leadership and clear role expectations
  • Provide direction, measure performance, establish goals for on-site, remote and offshore team members
  • Establish collection goals and metrics to ensure portfolio performance is maintained to organizational goal and standards
  • Develop new processes for collections to achieve maximum productivity
  • Present weekly, monthly, and quarterly reports on collections performance
  • Keep abreast on industry trends, best practices, and regulations
  • Collaborate with internal business and technology teams
  • Resolve customer complaints in a respectful, compliant and effective manner
  • Ensure staff is meeting the goals assigned and Key Performance Indicators (KPI)
  • Review accounts in order to provide feedback to their team
  • Participate in the interviewing and hiring process
  • Participate in appraising performance, rewarding and disciplining employees
  • Review employee timecards for accuracy for approval
  • Analyze performance and operational data to identify trends
  • Mentor the collections team, ensuring adherence to servicing policies and procedures
  • Compliance with company policies, procedures, and regulatory requirements, including the Fair Debt Collection Practice Act.
  • Negotiations with borrowers to establish viable payment arrangements.
  • Review accounts under modification agreements to ensure compliance.
  • Handle escalated customer inquiries and complaints in a professional and timely manner. Skills and Qualifications
  • Bachelor's degree in finance, management
  • Minimum of 2 years management experience, in a call center environment, preferably in auto collections
  • Knowledge of management principles and familiarity with company products, services, and policies.
  • Strong coaching and leadership skills, ability to motivate employees
  • Proficiency with the necessary technology, including computers, software applications, phone systems, etc.
  • Proficient in
MS Office:
Word, Outlook, and Excel
  • Highly skilled in negotiations
  • Strong written and oral communication skills.
  • Shows great care and attention to detail.
  • The ability to adapt to change easily.
  • Ability to take ownership for meeting individual, team and departmental goals
  • Bilingual (Spanish) is a plus
Job Type:
Full-time Benefits:
401(k) 401(k) matching AD&D insurance Dental insurance Disability insurance Flexible schedule Flexible spending account Health insurance Health savings account Life insurance Paid time off Parental leave Retirement plan Vision insurance Ability to
Commute:
Carrollton, TX 75006 (Required) Ability to
Relocate:
Carrollton, TX 75006: Relocate before starting work (Required)
Work Location:
In person