Vice President Collections
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Job SummaryThe Vice President of Collections provides visible and proactive leadership of Collections associates in multiple Care Centers. The Vice President is responsible for the leadership of 1000+ associates across North America and offshore partners. Additionally, this leader actively collaborates with brand partners and internal colleagues across the organization. The Vice President champions efforts that improve processes and s/he will foster continuous improvement to achieve the highest possible levels of associate performance, bottom line business impact, and managing demands of the internal and external environment. Significant accountability is placed on ensuring key metrics within Collections are achieved, as well as associate engagement, associate retention, and leadership effectiveness. The Vice President is solely responsible for managing the delinquency and loss rates for the contractual ages they are responsible for.
Essential Job Functions
Strategy - Identifies and spearheads the implementation of cross-functional strategic initiatives designed to position the organization for growth, greater scalability, and increased efficiency related to delinquency and losses. Champions organizational change efforts, philosophies and initiatives, in partnership with the Sr. Leadership Team, including the President of Bread Financial on a regular basis. Maintains a flexible leadership response to changing circumstances and ever-evolving customer and regulatory needs. Serves as a key business partner to stakeholders across the business to identify new opportunities and resolve issues. Drives strategies to ensure KPI data against daily, weekly and monthly trends properly identifies opportunities for improvement in Collections. Maintains and improves Collections by monitoring performance, identifying opportunities, developing action plans for resolution while driving productivity, quality, and high service standards.
Leadership - Effectively and efficiently manages direct report team's priorities, workload, and resources. Provides strong, dynamic leadership that mentors, develops, and guides team members to efficiently leverage the value of every interaction to drive performance. Recruits, develops, inspires, and mentors the site’s leadership team so that they are skilled, effective and fully capable of executing the responsibilities and expectations of their positions. Facilitates talent management discussions and succession planning.
Collaboration - Through active engagement in the facility, this individual is visible on the care center floors and approachable to all associates. Ensures the facility provides a welcoming, safe and healthy environment for all associates and key stakeholders. Nurtures a strong culture that embraces inclusion, encourages employee contribution and empowerment, and fosters a commitment to support and motivate one another. Inspires an open, energetic, and fun work environment. Fosters various avenues of communication across the site to ensure associates remain informed, connected to the broader strategy and have an outlet for conveying questions and innovative ideas. Effectively and dynamically communicates complex business strategies to internal and external partners, including associates, brand partners, and investors. Drives technology solutions and partners with IT to ensure associate facing tools/systems perform optimally. Executes disaster recovery plans in partnership with the Business Continuity team. Regular, predictable attendance.
Operations - Ensures operational compliance in all areas and quickly communicates and actions a plan with all concerned parties with respect to non-compliance issues. Oversees the operational relationship with Bread Financial's brand partners. Maintains relationships with brand partners and internal partners to facilitate open communication, understand perspectives, and monitor levels of satisfaction. In collaboration with the client partnership teams, interfaces directly with brand partners driving customer experience initiatives and operational strategies. Participates and contributes to the budget process and maintains financial parameters established in the budget. Analyzes business trends and takes necessary actions to ensure operational efficiency and success.
Reports to: VP
Working Conditions/ Physical Requirements: Call center environment: multiple conversations occurring simultaneously in an open-office environment, Sitting and standing throughout the day, varies depending on the task-at-hand. Required to work from the office at least 5 days each month even if hired into a work-at-home or hybrid role; in-office work requirement can be accomplished by working from a Bread Financial office, a client location if you are in a client-facing role, or other necessary business-related travel.
Ability to travel 25% of time if not located near Bread Financial office
Direct Reports: 3-7
Bachelor’s Degree or equivalent education in Business Administration
Fifteen or more years work experience in a call center, customer service, sales, or retail environment
Ten or more years work experience leading people and performance management in a call center environment
Experience managing budgets and driving revenue generation growth
Strong written and verbal communication skills with ability to effectively motivate/influence others across all levels of the organization, as well as external vendors and customers
Experience working in a credit card or other financial services collection environment, utilizing various collection techniques such as automated dialing systems, skip tracing, etc.
Project management experience leading projects and collaborating with cross-functional teams
Knowledge of laws/regulations within the financial services/credit card industry, including FDCPA, TCPA, FCRA, etc.
Proficient in word processing, spreadsheet, presentation software such as MS Word, MS Excel, and PowerPoint or equivalent
Ability to analyze performance data and identify trends in order to develop and execute collection strategies focused on achieving departmental goals
Master’s Degree in Business or related field
Twenty or more years work experience in a call center, customer service, sales, or retail environment
Fifteen or more years work experience leading people and managing performance in a call center, sales, customer service, or retail environment
Seven or more years work experience managing department level performance (1000+ associates and leaders) in a credit card or other financial services collections call center environment
Ten years of experience managing performance and developing leaders of people with both a direct and indirect reporting relationship
Demonstrated ability to effectively lead change management initiatives, articulate organizational/departmental goals
Strong understanding of key performance indicators (KPIs), ability to analyze performance results, identify KPI trends and develop action plans to deliver desired results
Experience managing teams remotely and across multiple locations
Experience managing relationships with BPO partner relationships and offshore staffing strategies
Typical Starting Range:$180,100.00 - $386,000.00
Full Salary Range for position:California:$207,200.00 - $482,400.00Colorado:$180,100.00 - $405,300.00New York:$198,100.00 - $482,400.00Washington:$189,100.00 - $444,000.00
The actual base pay within this range may be dependent upon many factors, which may include, but are not limited to, work location, education, experience, and skills.
Bread Financial offers medical, prescription drug, dental, vision, and other voluntary benefits (including basic and optional life insurance, supplemental medical plans, and short and long-term disability) to eligible associates (regular full-time associates scheduled to work 30 hours per week or more) and their spouses/domestic partners, and child(ren) under the age of 26. New associate elected coverage begins on date of hire (with the exception of disability coverage which has a 6-month waiting period). Six weeks of 100% paid parental leave for eligible parents is available after a 180-day waiting period. Hired associates can immediately enroll in Bread Financial’s 401(k) plan.
All associates receive 11 paid holidays. Associates have discretion in managing their time away from work through the Flexible Time Off (FTO) program and may need to notify and receive approval from their manager prior to taking the time off. Associates receive 80 hours of Paid Sick and Safety Time per calendar year at the beginning of each year and is prorated in the associate’s first year of employment.
Hired associates will be able to elect to purchase company stock during offering periods in June and December. You will be eligible for an annual incentive bonus based on individual and company performance.
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About Bread Financial
At Bread Financial, you’ll have the opportunity to grow your career, give back to your community, and be a part of our award-winning culture. We’ve been consistently recognized as a best place to work in many markets and we’re proud to promote an environment where you feel appreciated, accepted, valued, and fulfilled—both personally and professionally. Bread Financial supports the overall wellness of our associates with a diverse suite of benefits and offers boundless opportunities for career development and non-traditional career progression.
Bread Financial is a tech-forward financial services company providing simple, personalized payment, lending and saving solutions. The company creates opportunities for its customers and partners through digitally enabled choices that offer ease, empowerment, financial flexibility and exceptional customer experiences. Driven by a digital-first approach, data insights and white-label technology, Bread Financial delivers growth for its partners through a comprehensive product suite, including private label and co-brand credit cards, installment lending, and buy now, pay later (BNPL). Bread Financial also offers direct-to-consumer solutions that give customers more access, choice and freedom through its branded Bread Cashback American Express® Credit Card and Bread Savings products.
Headquartered in Columbus, Ohio, Bread Financial is powered by its 7,500+ global associates and is committed to sustainable business practices.
- Bread Financial offers competitive pay, a comprehensive selection of benefit options including 401(k).
- The Company is an Equal Opportunity Employer.
- Any applicant offered employment will be required to establish that they are legally authorized to work in the United States for the Company.
- The Company participates in E-Verify.
- The Company will consider for employment all qualified applicants, including those with a criminal history, in a manner consistent with the requirements of all applicable federal, state, and local laws, including the Los Angeles Fair Chance Initiative for Hiring Ordinance, the San Francisco Fair Chance Ordinance, and the New York City Fair Chance Act. Applicants with criminal histories are encouraged to apply.
Job Family:Care Center Operations