Collections Manager

Collections Manager

NewLane Finance is a commercial equipment finance company, serving small and mid-size business nationwide. Our mantra is "Business Lending Done Right", and our strategy is to revolutionize small business lending by employing the latest technology and a motivated workforce to deliver fair and transparent financing solutions to businesses with unmatched levels of speed, convenience and customer service. Our products and services are offered to the business community primarily through financing programs with equipment manufacturers, distributors, and dealers.

Summary : This position is responsible for designing, implementing, improving and executing on NewLane's collections processes and managing timely collection of delinquent accounts. The Manager will oversee all aspects of the day-to-day collection functions and activities from early stage through 90 days. The position will place an emphasis on continuous process improvements and an ongoing focus on building an effective and efficient collection team.

Essential Functions and Responsibilities :

• Actively manage, provide mentorship and ongoing guidance to the best-in-class Collection Specialists with the goal of advancing their career and development.
• Using an optimal mix of technology solutions and human capital, lead the development and implementation of collection policies, strategies, and best practices to manage the collection process.
• Actively assist with the collection efforts (which includes calls, email follow ups, etc.) on higher balance accounts or accounts with more complex issues.
• Manage individual and overall department performance to achieve critical KPIs (i.e., delinquency targets, charge-off goals, customer response time, etc.) and deliver on department goals.
• Develop and review management reports to (i) evaluate performance of Collection Specialists, (ii) assess effectiveness of collection policies, procedures, and practices, and (iii) identify trends in the results and devise strategies to address.
• Work closely (through weekly meetings) with leaders in Credit Underwriting, Legal and Asset Recovery to discuss delinquency and charge-off trends and to seek their assistance in collections matters as needed.
• Work with technology team to identify and implement the best technology systems and solutions for areas of responsibility.
• Proactively monitor delinquency and loss trends and effectively communicate results to Executive Ma