Background:
Volkswagen Financial Services Ireland (VWFS) has been providing innovative and market leading car finance solutions to people all over Ireland since 2008. With a wide variety of finance, leasing and servicing options, our aim is to support the sales of our Volkswagen Group Brand Partners. With over 120 dealers and over 70,000 customers, VWFS Ireland has quickly become the largest car finance provider in Ireland.
Job Description:
Volkswagen Financial Services is seeking an experienced and dynamic Collections Manager to lead our team of Collections agents. The role holder will be responsible for defining Collections strategy and maximising Collections activities across all product streams, ensuring revenue protection and high customer satisfaction. This role requires strong management skills, strategic thinking and a deep understanding of collection and pre legal debt process within the financial service sector. The role holder will have strong experience of regulatory compliance in relation to Collection process.
Key Responsibilities:
1. Develop and implement effective collection strategies to minimise overdue accounts and bad debt while ensuring compliance with all regulatory requirements.
2. Manage and mentor a team of internal collection agents to achieve collection targets and maintain high performance standards.
3. Monitor and analyse collection performance activities to identify trends and opportunities for improving revenue protection and recovery rates in line with Risk process.
4. Maintain positive relationships with customers addressing concerns in a professional and empathetic manner, achieving best outcomes.
5. Define performance targets for collections team and regularly review their progress to achieve individual and team goals.
6. Develop engagement strategy that supports customers to manage their debt and achieve best outcomes, including vulnerable customers.
7. Prepare regular reporting dashboards on collection activities, performance metrics and revenue recovery, presenting findings to senior management and recommending actionable insights or highlighting risk events.
8. Manage the pre-legal process and the legal relationship with vendor.
9. Ensure all collection activities comply with relevant laws, Central Bank regulations, Internal audit standards and company policies.
10. Manage the Accounts Receivable process across all products.
11. Continuously evaluate and improve collection process, system and policies to enhance productivity and effectiveness.
12. Manage Collections activity in regard to all strategic and regulatory project and change topics as required.
13. Work closely with all key stakeholders to align collection efforts with the overall business objectives.
Key Personal Requirements:
1. 5 + years’ Collections management experience, in a Central Bank regulated financial service environment. This is a CF3 role under the Central Bank Fitness and Probity regime.
2. Minimum Competency Code requirements - Qualified QFA loans (required).
3. Degree in Business or Finance related discipline (required).
4. Excellent verbal and written communication skills with the ability to articulate and document the rationale for decisions, an ability to manage difficult conversations and problem solving capabilities.
5. Strong experience in debt management and pre legal collection.
6. Demonstrable experience in legal vendor management.
7. Relevant and extensive regulatory knowledge for Collections and Recoveries process.
8. Strong ability to manage customers for best outcomes, particularly those with deteriorating financial positions or vulnerable customers.
9. Strong leader, managing for best individual and team performance.
10. Analytical skills – the ability to use and interpret data to drive strategy and solutions.
11. Strong process and change management experience.
12. Ability to build and maintain strong stakeholder relationships.
Terms & Conditions:
This is a permanent position. A competitive remuneration package commensurate with experience and qualification level will be offered to the successful candidate.
How to Apply:
Please apply by emailing a CV and a short cover letter to careersdublin@vwfs.com
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