Collections Manager

About Figure

Figure is maximizing the value of homeownership in ways that benefit consumers and the industry alike. We’re helping homeowners tap their liquidity easily, efficiently and reasonably for purpose-driven, significant expenditures – everything from dream home renovations and debt consolidation to small business formation.

In seven years, we’ve become the country’s #1 non-bank HELOC lender. As a financial technology firm operating at the intersection of regulation and transformation, we’re a “unicorn” – a group of fewer than 1000 companies globally that is valued at $1B or more and has been in operation for less than ten years. 

Our mission requires us to have a creative, team-oriented, and supportive environment where everyone can do their absolute best. We are motivated, innovative, collaborative, and curious. We value individuals who bring a problem-solving mindset to every task. Every day at Figure is a journey in continuous learning combined with a focus on getting work done that makes a difference. Join us!

Wealthfront Career-Launching Company 

Figure Series D Announcement

About the Role

The Collections Manager will oversee the daily operations of the 0-60 day delinquent collections team for all Figure serviced products. The Collections Manager will be accountable for individual collectors and overall team performance.  Primary KPI for this role will be 0-30 and 30-60 day role rates.  This includes, but is not limited to: building out processes and procedures (for collections and loss mitigation strategies), assessing day to day performance, quality of work, and goal setting. Directs development and implementation of strategic plans; ensures projects are designed and implemented efficiently and effectively; directs departmental business continuity planning to minimize risk. This position reports to the Director of Servicing and will be based in the office (hybrid).

What You’ll Do

• Develop and implement strategies to improve collection processes and efficiencies to maximize recovery and reduce roll rates
• Actively hire, train, manage motivate, and coach a team of collectors through performance coaching and ongoing training to ensure consistent optimal performance and successful achievement of department goals
• Insure compliance of the collections group with all applicable laws and regulations
• Prepare regular reports on collections activities, presenting data and insights to upper management to identify trends and recommend strategies
• Define system capabilities, evaluate current and potential technology use and the need for improved performance
• Continuous development of incentive plan for the collectors that coincides with monthly/quarterly goals
• Collaborate with cross-functional teams, including legal, compliance, and customer operations, to enhance processes and resolve escalated customer issues.
• Conduct frequent department meetings to provide organizational, department and industry updates and facilitate the training and coaching of team members as needed
• May include management of 3rd party collection vendor and other 3rd parties such as vendors performing field visits
• Additional duties and assignments as needed

What We Look For

• Hands on manager with 4+ years of collections/default manager experience preferably in the Mortgage/HELOC space and in early stage delinquency management
• Proven track record of meeting or exceeding collections targets
• BA/BS degree preferred
• Strong knowledge of regulations relative to debt collection such as CFPB rules, FDCPA, TCPA, Bankruptcy and secondary market investor guidelines
• Proficiency in using collections software and systems
• Exceptional organizational and time management skills, with the ability to prioritize and handle multiple tasks simultaneously
• Analytical mindset, with the ability to analyze data, identify trends, and make data-driven decisions
• Excellent verbal and written communication skills, with the ability to effectively negotiate and persuade customers to resolve outstanding debts
• Exercises independent judgment in methods, techniques, and evaluation criteria for obtaining results 
• Proficient with Microsoft Office Suite, comfortable creating reports for upper management, cross-functional, and investors

Salary

• Compensation Range: $85,360 - $106,700
• 25% annual bonus target, paid quarterly 
• Equity stock options package
• This is the compensation range for the United States, actual compensation may vary based on individual candidate experience, location, or evolving business needs

Benefits

• Comprehensive health, vision, and dental insurance with 100% employer-paid premiums for employees and their dependents on select plans
• Company HSA, FSA, Dependent Care, 401k, and commuter benefits
• Employer-funded life and disability insurance coverage
• 11 Observed Holidays & PTO plan
• Up to 12 weeks paid family leave
• Continuing education reimbursement

Depending on your residential location certain laws might regulate the way Figure manages applicant data. California Residents, please review our California Employee and General Workforce Privacy Notice for further information. By submitting your application, you are agreeing  and acknowledging that you have read and understand the above notice.

Figure will not sponsor work visas for this position. In compliance with federal law, all persons hired will be required to verify identity and eligibility to work in the United States and to complete the required employment eligibility verification form upon hire. 

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