Head of Loan Servicing Job Description
We are seeking a driven Head of Loan Servicing to join our finance team. The ideal candidate will have extensive experience in collections within the financial services industry and excellent analytical skills.
Key Responsibilities:
* Strategic Leadership: Formulate and present strategic priorities for In Life Servicing, Collections and Recoveries to senior management and the Board.
* Develop and deliver the strategic plan for Collections in line with overall business objectives and regulatory requirements to minimise risk and improve efficiencies within the division and across the Bank.
* Contribute to a number of key projects, such as managing operational and supplier relationships through large scale transformation projects and leading on a third party management framework for Collections and Recoveries.
* Align the Collections and Recoveries strategy with overall business objectives and regulatory requirements.
* Monitor industry trends and incorporate best practices to improve C&R processes.
* Develop engagement strategies that help customers manage their debt and achieve their financial goals.
Operational Management:
* Plan and manage resources effectively and drive process efficiencies.
* Overall responsibility for the management of the Collections function, delivering against established policies and ensuring fair outcomes for customers in need of debt management.
* Ensure outsourced functions are operated under contracts that meet commercial objectives and regulatory requirements and are effectively monitored and managed.
* Challenge the current operating model and ways of working within the department and the wider organisation.
* Implement and manage systems and processes to track and improve collections performance.
* Ensure effective use of technology to optimise collection efforts and efficiency.
Compliance and Risk Management:
* Support the Executive in ensuring regulatory compliance of customer service operations (e.g. Treating Customers Fairly, Consumer Protection) and constantly challenging this.
* Ensure all collection activities comply with relevant laws, regulations, and internal policies.
* Develop and maintain a robust risk management framework for collections and recoveries.
* Collaborate with risk, legal and compliance teams to address regulatory changes and challenges.
* Work with the Group Resilience team to design and implement the Operational Resilience and DORA solution across the organisation (Incident Management, Operational Resilience, Business Continuity, Crisis Management, Technical Recovery).