Head of Collections & Recoveries
The primary focus of the UK Collections, Recoveries and Litigation team is to maximise the repayment of delinquent and non-performing loans, in a way that delivers a positive customer experience for both our Borrowers and Investors, and aligns to the local regulatory and legal environment. As a platform, Funding Circle has an obligation to Investors, who are keen to maximise returns, in addition to the Borrowers, whose debt we pursue.
Funding Circle is a global SME loans platform, connecting SMEs who want to borrow with investors who want to lend in the UK, US, Germany and the Netherlands. Since launching in 2010, investors across Funding Circle's geographies - including retail investors, banks, asset management companies, insurance companies, government-backed entities and funds - have lent more than £8 billion to 77,000 businesses globally.
This is an exciting role to lead a growing team and delivering the Funding Circle Collections and Recoveries strategy. The Head of Collections and Recoveries role has direct accountability for ensuring a strong and sophisticated Collections Operations capability, enabling the delivery of sustainable returns for our investors; and has responsibility for delivering positive, appropriate and sustainable outcomes for our business customers which help them regain financial stability based on their own circumstances. Working within the regulatory and governance frameworks, the Head of Collections and Recoveries will deliver great results in an efficient manner by continuing to build and lead a high performing Collections and Recoveries team.
This role reports into the UK Managing Director and will sit on the UK Leadership Team.
Day to Day Responsibilities:
- Run a high performance team to deliver against recovery and delinquencies targets set in collaboration with the Risk Management team and consistent with investor's returns' expectations.
- Strategy and policy setting and evolution:
- Work with the Risk Management team and the Credit Risk Management Committee to define and agree strategies and policies.
- Implement and evolve the team’s strategies and policies with the Risk Management team. Embed a data driven Test and Learn culture.
- Lead the continuing development, implementation and improvement of the processes, structures, capabilities, capacity and infrastructure needed to deliver agreed plans and targets, collaborating with colleagues to maximise end to end integration, effectiveness and efficiency.
- Managing a team of >50 with a small number of direct reports - people development, cost management:
- Manage the Collections & Recoveries team’s capacity and development.
- Manage the team’s budget by working towards managing cost within the business targets.
- Propose and oversee the awarding of rewards and incentives to the team, compliant and in partnership with the People team.
- External and internal stakeholder management:
- Communicate with institutional and retail investors, where required.
- Deal with any complaints from borrowers or investors.
- Represent collections and recoveries to regulators and auditors.
- Meet with institutions to explain our Collections & Recoveries structure, strategies, policies and results.
- Being a core part of the UK Leadership Team - driving and contributing to the overall success of the UK business alongside the rest of the UK Leadership Team
- Work with global counterparts to assist and share best practice with SCR teams in Europe.
Required skills and experience:
- Degree or equivalent level qualification in a related discipline.
- Demonstrable experience in driving efficient operations of a large team (40+).
- Significant Collections and Recoveries Team management or loan servicing experience.
- Senior management experience in a financial services or related discipline.
- Knowledge of the principles and application of risk assessment.
- Transparent communication of results and data driven management
- Proven experience of managing managers successfully.
- Experience in operational planning, managing budgets and cost centres.