Director, Collections Strategy

Upgrade is seeking a Director of Collections Strategy to lead pre-charge-off and post-charge-off collections across all Upgrade products, including Unsecured Personal Loans, Credit Card, and BNPL. This role involves evaluating customer payment behavior, developing segment-specific strategies, and optimizing collection efforts using predictive modeling and machine learning. The Director will also manage customer interactions for overdue payments, establish repayment plans, ensure regulatory compliance, and track key metrics to improve collection performance.

Must Have

• Oversee strategy and management of pre-charge-off and post-charge-off collections
• Evaluate customer payment behavior and identify trends
• Develop specific strategies for different customer segments and debt types
• Utilize predictive modeling, machine learning, and other tools for optimization
• Identify areas for improvement in the overall collection process
• Reach out to customers with overdue payments and negotiate arrangements
• Work with customers to establish feasible repayment plans
• Adhere to all relevant regulations (FDCPA, CFPB Regulation F, TCPA)
• Track key metrics like aging of accounts receivable, collection rates, and recovery rates
• Collaborate with credit, sales, customer service, and risk management departments
• Provide regular updates to senior management on collection performance
• 5 to 7 years of experience in collections strategy and/or operations
• Bachelor's degree
• Strong analytical skills
• Excellent communication skills
• Knowledge of relevant regulations
• Experience with collection technology
• Leadership and team management skills

Good to Have

• MBA or advanced degree

Perks & Benefits

• Competitive salary and stock option plan
• 100% paid coverage of medical, dental and vision insurance
• Flexible PTO
• Competitive 401(k) and RRSP program
• Opportunities for professional growth and development
• Paid parental leave
• Health & wellness initiatives

About the Role:

We’re looking for a Director of Collections Strategy who will oversee the strategy and management of pre-charge-off and post-charge-off collections across all Upgrade products for internal, first-party and third-party operations. Products include the following: Unsecured Personal Loans, Credit Card, BNPL / POS Financing, Travel BNPL, Home Improvement Financing, Indirect Auto, Checking, One Card, and Savings.

What You'll Do:

• Evaluating customer payment behavior, identifying trends, and assessing the effectiveness of current strategies.
• Developing specific strategies for different customer segments and debt types, including pre-delinquent, delinquent, and recovery accounts.
• Utilizing predictive modeling, machine learning, and other tools to identify potential issues and optimize collection efforts.
• Identifying areas for improvement in the overall collection process, including communication channels and customer interactions. Optimization of contact and conversion strategy in omni channel collections environment.
• Reaching out to customers with overdue payments via phone, email, or other channels to discuss their accounts and negotiate payment arrangements.
• Working with customers to establish feasible repayment plans that align with their financial situations including hardship and debt settlement arrangements.
• Adhering to all relevant regulations, including the Fair Debt Collection Practices Act (FDCPA), CFPB Regulation F, and TCPA, as well as internal policies.
• Tracking key metrics, such as aging of accounts receivable, collection rates, and recovery rates, to assess the effectiveness of strategies and identify areas for improvement.
• Working with other departments, such as credit, sales, customer service, and risk management, to ensure a smooth and effective collection process.
• Providing regular updates to senior management on collection performance, key trends, and areas of concern.

What We Look For:

• 5 to 7 years of experience in collections strategy and/or operations
• Bachelor's degree required; MBA or advanced degree preferred
• Strong analytical skills - analyzing data, identifying trends, and making data-driven decisions
• Excellent communication skills - effectively communicating with operations leadership and executive management
• Knowledge of relevant regulations - understanding the legal and regulatory landscape of debt collection
• Experience with collection technology - utilizing software and tools to manage and optimize the collection process
• Leadership and team management skills - leading and motivating analysts
• Strong analytical skills - analyzing data, identifying trends, and making data-driven decisions

What We Offer You:

• Competitive salary and stock option plan
• 100% paid coverage of medical, dental and vision insurance
• Flexible PTO
• Competitive 401(k) and RRSP program
• Opportunities for professional growth and development
• Paid parental leave
• Health & wellness initiatives