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Associate Manager of Third-Party Oversight Collections and Recovery Support

SoFi

SoFi

Customer Service
United States
Posted on Friday, January 5, 2024

Employee Applicant Privacy Notice

Who we are:

Shape a brighter financial future with us.

Together with our members, we’re changing the way people think about and interact with personal finance.

We’re a next-generation fintech company using innovative, mobile-first technology to help our millions of members reach their goals. The industry is going through an unprecedented transformation, and we’re at the forefront. We’re proud to come to work every day knowing that what we do has a direct impact on people’s lives, with our core values guiding us every step of the way. Join us to invest in yourself, your career, and the financial world.

The role

The Recovery Associate Manager role is a critical member of SoFi’s Recovery Operations team responsible for assisting with managing our post charge-off operations and vendor relationships across Agency collections, Debt Sales, and Litigation. This individual will aid the team’s leadership in managing the work of SoFi’s Recovery Operations Support team and, and our external collection agency compliance with SoFi’s Recovery strategies, policies and compliance expectations.

The role will also assist in the build-out and documentation of our internal control processes and reporting aimed at instilling operational accuracy and diligence in our Recovery processes. This individual will partner with SoFi’s Operations audit and QA/QC teams on drafting detailed SOPs, testing our processes for alignment with expectations, and creating performance reports (Control MIS) on Recovery processes.

The role requires a background and understanding of collections and recovery operations, knowledge and exposure to Control and Compliance, and some experience in vendor relationship and oversight or operations risk management.

By joining SoFi, you'll become part of a forward-thinking company that is transforming financial services for the better. We offer the excitement of a rapidly growing startup with the stability of an industry leading leadership team.

What you’ll do:

  • Assist in the ideation and execution of the Recovery operations control infrastructure. This will require partnering with Ops Risk Control in drafting the framework for new controls and updating existing policies and procedures to align with the framework.
  • Partner with SoFi’s Risk teams in developing robust oversight of risks, controls, and compliance of our recovery vendors.
  • Partner with the Collections and Recovery leadership team on creating and presenting regular performance updates of our Recovery operations across key success metrics, and comparison against Plan and Forecast.
  • Create and maintain detailed reporting on Recovery agency collections and Debt buyer sales, broken out by emerging segments like Debt Settlement accounts etc.
  • Assist in the monthly debt sale process, including the creation of a Bill of Sale, and the provision of all media required for placements or sales (via Convoke); including statements, CMAs, and notification of sale letters.
  • Assist with scheduled reviews of vendor due diligence through on-site or online audits to assess operational controls and alignment with contractual agreements.
  • Participate in the review of SoFi’s customer complaints at the different vendors, and partner with them in the identification, tracking and resolution of customer issues and concerns.
  • Assist in identifying opportunities to improve collections recovery processes and workflows in collaboration with third-party vendors. Implement changes to enhance efficiency, reduce costs, and increase recovery rates.
  • Communicate with internal stakeholders, including senior management and relevant departments, to provide updates on collections recovery activities, vendor performance, and overall recovery strategies.

What you’ll need:

  • 3+ years of collections and recovery industry experience, including working on developing and deploying control reporting.
  • The ideal candidate will have some vendor management experience across collections and recovery agencies, litigation and bankruptcy attorneys, probate, debt buyers, Credit Counseling Agencies, DSAs, and other collections and recovery players.
  • Highly motivated to collaboratively deliver solutions in a multi-product environment. Excellent analytical and data manipulation skills (excel pivot tables, power point, SQL a plus).
  • Strong communication skills (must be comfortable building presentations in PowerPoint or GoogleSlides, and presenting), and excellent organizational and time management skills.
  • Bachelor’s degree

Nice to have:

  • People leadership experience, specifically managing a recovery collections team working financial services or consumer debt
  • Excel proficiency, SQL & Python experience
  • Knowledge of the workings of Debt Settlement Companies (DSA / DSC)
Compensation and Benefits
The base pay range for this role is listed below. Final base pay offer will be determined based on individual factors such as the candidate’s experience, skills, and location.
To view all of our comprehensive and competitive benefits, visit our Benefits at SoFi page!
SoFi provides equal employment opportunities (EEO) to all employees and applicants for employment without regard to race, color, religion (including religious dress and grooming practices), sex (including pregnancy, childbirth and related medical conditions, breastfeeding, and conditions related to breastfeeding), gender, gender identity, gender expression, national origin, ancestry, age (40 or over), physical or medical disability, medical condition, marital status, registered domestic partner status, sexual orientation, genetic information, military and/or veteran status, or any other basis prohibited by applicable state or federal law.
The Company hires the best qualified candidate for the job, without regard to protected characteristics.
Pursuant to the San Francisco Fair Chance Ordinance, we will consider for employment qualified applicants with arrest and conviction records.
New York applicants: Notice of Employee Rights
Due to insurance coverage issues, we are unable to accommodate remote work from Hawaii or Alaska at this time.
Internal Employees
If you are a current employee, do not apply here - please navigate to our Internal Job Board in Greenhouse to apply to our open roles.