Responsible for managing ERC’s third-party collection process end to end. Leading processes from onboarding, testing, and go-live. In addition, when the collection process is implemented across multiple collection agencies the Recovery Manager will be responsible for daily monitoring of data flows between companies, monitoring performance metrics, holding regular meetings with involved parties, and continually process improving to achieve the greatest result.
ESSENTIAL FUNCTIONS AND BASIC DUTIES
1. Assumes responsibility for the effective performance of third-party collection agencies which are supporting ERC’s toll business.
a. Monitors daily data feeds between ERC and the agencies to ensure delivery and receipt. Ensures new account placements are assigned according to the established business plan and when irregularities occur, effectively communicates to the BOS provider for corrective action.
b. Reviews volume of accounts moving into a post collection status to ensure they are assigned appropriately and communicated to the agency as directed.
c. Ability to define, create and manage KPI measurements and develop a related scorecard. Daily monitoring of agency performance and communication to all parties via a score/report card type dashboard. Dashboard will communicate each agencies collection performance.
d. Perform agency audits by monitoring account handling, payment distribution, call monitoring, and KPI adherence. Hold regular meetings with agency staff to discuss business events and strategy planning.
e. Audit month closing payment files for calculation of commission due to agencies
f. Continually monitoring for improvements in process and workflow
2. Collection & Recovery Strategy
a. Use data to perform analytical analysis on debt types and amounts to create collection strategy campaigns
b. Develop incentive programs rewarding top agents/agencies performance levels
c. Combine different tools and strategies to create effective strategies based upon knowledge of the environment, economy, and performance trends
d. Ability to interpret agency data consistently and create internal reporting combining performance measures from agencies and comparing to KPI standards
3. Assumes responsibility for overseeing the new agency onboarding process ensuring deadlines are met and attention to detail is maintained to reduce issues and errors.
a. Ensures the onboarding process is followed according to a defined project plan and involved parties meet deadlines leading to a timely startup.
b. Must be able to assertively direct and lead teams to deliver results and communicate to Management when delays may happen, or the project plan cannot be achieved.
4. Contract Management.
a. Understand and administer agency contracts to ensure compliance and adherence
b. Identify shortfalls as they occur and communicate potential risks and or penalties for shortfalls
c. When necessary, assist in development of terms and conditions when contract negotiation is available
Project Management Certification Bachelors degree or equivalent work experience
Minimum 10 years’ experience effectively leading in a collection environment
Minimum 3-5 years’ experience in vendor management
PHYSICAL ACTIVITIES AND REQUIREMENTS OF THIS POSITION
FINGER DEXTERITY: Using primarily just the fingers to make small movements such as typing, picking up small objects, or pinching fingers together.
TALKING: Especially where one must frequently convey detailed or important instructions or ideas accurately, loudly, or quickly.
AVERAGE HEARING: Able to hear average or normal conversations and receive ordinary information.
REPETITIVE MOTIONS: Movements frequently and regularly required using the wrists, hands, and/or fingers.
AVERAGE VISUAL ABILITIES: Average, ordinary, visual acuity necessary to prepare or inspect documents or products, or operate machinery.
PHYSICAL STRENGTH: Sedentary work; sitting most of the time. Exerts up to 10 lbs. of force occasionally. (Almost all office jobs.)
MENTAL ACTIVITIES AND REQUIREMENTS OF THIS POSITION
REASONING ABILITY: Ability to deal with a variety of variables under only limited standardization.
Able to interpret various instructions.
MATHEMATICS ABILITY: Ability to perform basic math skills, use decimals to compute ratios and percents, and to draw and interpret graphs.
LANGUAGE ABILITY: Ability to read a variety of books, magazines, instruction manuals, atlases, and encyclopedias.
Ability to prepare memos, reports, and essays using proper punctuation, spelling, and grammar.
Ability to communicate distinctly with appropriate pauses and emphasis, correct pronunciation (or sign equivalent), and variation in word order using present, perfect, and future tenses.
INTENT AND FUNCTION OF JOB DESCRIPTIONS
Job descriptions assist organizations in ensuring that the hiring process is fairly administered and that qualified employees are selected. They are also essential to an effective appraisal system and related promotion, transfer, layoff, and termination decisions. Well constructed job descriptions are an integral part of any effective compensation system.
All descriptions have been reviewed to ensure that only essential functions and basic duties have been included. Peripheral tasks, only incidentally related to each position, have been excluded. Requirements, skills, and abilities included have been determined to be the minimal standards required to successfully perform the positions. In no instance, however, should the duties, responsibilities, and requirements delineated be interpreted as all inclusive. Additional functions and requirements may be assigned by supervisors as deemed appropriate.
In accordance with the Americans with Disabilities Act, it is possible that requirements may be modified to reasonably accommodate disabled individuals. However, no accommodations will be made which may pose serious health or safety risks to the employee or others or which impose undue hardships on the organization.
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