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Director of Recoveries
SoLo Funds
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See open jobs at SoLo Funds.See open jobs similar to "Director of Recoveries" JumpStart Ventures.New York, NY, USA
Posted on Jan 7, 2025
SoLo Funds is on a mission to help the millions of Americans that live paycheck to paycheck and can’t survive a money crunch. Launched in 2018 as a unique and proprietary lending marketplace, today SoLo is the leading alternative financial solution providing the fastest loans available for borrowers and the opportunity for lenders to earn significant returns. We are a VC funded (Series B) Fintech company backed by Techstars, and Acme Capital alongside partnerships with Visa and Kiva.
SoLo Funds is seeking a dynamic and results-driven Director of Recoveries to lead and manage the collections operations. This role combines strategic leadership with hands-on operational management, making it critical to achieving organizational goals. Reporting directly to the CFO, the Director of Recoveries will oversee daily operations, manage a high-performing team, drive innovation, build systems, and ensure compliance across all servicing and collections activities.
**What You'll Do**
- Oversee the day-to-day activities of the servicing and collections team, ensuring efficient workflows and adherence to Standard Operating Procedures (SOPs)
- Assess and restructure existing recovery processes, where applicable, to eliminate inefficiencies and improve overall performance
- Develop, document, and implement comprehensive standard operating procedures to ensure consistency and compliance across all recovery operations
- Ensure all servicing and collections activities comply with regulatory requirements and internal policies
- Conduct regular risk assessments and implement strategies to mitigate potential issues
- Provide ongoing training to the team on compliance standards and industry best practices
- Streamline operations to achieve collection goals while enhancing customer experiences
- Collaborate with cross-functional teams to align servicing and collections strategies with broader organizational objectives
- Recruit, train, and mentor team members to build a high-performing, customer-focused servicing and collections team
- Conduct regular performance reviews, set actionable goals, and provide ongoing feedback to support professional growth
**You’re a Great Fit if You Have:**
- 6+ years in servicing, collections, or a related field, including at least 4 years in a managerial or leadership role
- Proven track record of establishing and optimizing recovery operations in a complex and unstructured environment
- Proven ability to manage cross-functional teams, foster collaboration, and achieve results in a fast-paced environment
- Strong knowledge of collections systems, tools, and processes, with a track record of optimizing workflows and achieving financial targets
- Excellent problem-solving abilities with a data-driven approach to decision-making
- In-depth understanding of regulatory frameworks and risk management practices
- Experience in process improvement, policy development and change management
- Exceptional interpersonal and communication skills, with the ability to engage effectively with stakeholders at all levels
**You’re an All-Star Fit if You Have:**
- Experience in the consumer lending or consumer banking sectors
- Familiarity with advanced performance tracking and reporting tools
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**About SoLo Funds**
SoLo is the leading alternative financial solution providing the fastest loan option to borrowers and option for lenders to obtain significant value. We're on a mission to provide the most intelligent (affordable + financially empowering) option for funds and banking services by leveraging the best technologies in the world. SoLo Funds promotes diversity and inclusion, doesn’t use discriminatory hiring practices on candidates based on status, including gender, race, sexual orientation, disability, religion, and age, and actively works to build and manage multicultural teams.
**Our Benefits**
Unlimited Vacation Time
Full Healthcare Benefits
401K Offered
This job is no longer accepting applications
See open jobs at SoLo Funds.See open jobs similar to "Director of Recoveries" JumpStart Ventures.
JUMPSTART VENTURES
6701 Carnegie Ave. Suite 100
Cleveland, Ohio 44103
Tel: 216.363.3400
Email: [email protected]
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