Third Party Vendor Manager

The Vendor Manager for Third Party Collection Agencies (TPAs) oversees vendor performance and relationship management to maximize recovery and operational efficiency. This role drives performance through regular reviews, initiative development, and digital transformation efforts, holding vendors accountable to key metrics and business goals. It requires strong analytical, negotiation, and communication skills, fostering vendor partnerships and operational excellence. Key responsibilities include developing team strategies, leading process improvements, resolving high-impact issues, driving innovation, mentoring, data analysis, ensuring compliance, and leading change management.

Must Have

• Develop and implement strategies for team success within Collections.
• Lead initiatives to improve processes, systems, and efficiency.
• Lead resolution of high-impact issues and escalations.
• Drive a culture of innovation and continuous improvement.
• Mentor and develop future leaders within the team.
• Utilize data analytics and reporting for decision-making.
• Ensure team operates in compliance with regulations, policies, and standards.
• Lead change management initiatives.
• Provide leadership, guidance, and assistance to team members.
• 5 years of relevant work experience.
• Minimum 3 to 5 years of vendor management experience, preferably with third party collection agencies.
• Strong background in collections, debt recovery, or accounts receivable management.
• Experience in facilitating performance reviews and developing recovery initiatives.
• Ability to monitor agency performance and hold vendors accountable to KPIs and SLAs.
• Knowledge of regulatory and licensing requirements for third party collection agencies.
• Strong negotiation and contract management skills.
• Ability to collaborate cross-functionally with finance, compliance, and operations teams.

Good to Have

• Familiarity with digital transformation initiatives aimed at improving operational efficiency in vendor or collections management.

Perks & Benefits

• Flexible work environment
• Employee shares options
• Health insurance
• Life insurance
• Medical benefits
• Dental benefits
• Vision benefits
• Balanced hybrid work model

Job Summary:

The Vendor Manager for Third Party Collection Agencies (TPAs) oversees the performance and relationship management of external vendors to maximize recovery and operational efficiency. This role drives performance through regular reviews, initiative development, and digital transformation efforts, holding vendors accountable to key metrics while ensuring alignment with business goals. This role requires strong analytical, negotiation, and communication skills, coupled with a strategic mindset to foster vendor partnerships and drive operational excellence in collection agency management.

Job Description:

Essential Responsibilities:

• Develop and implement strategies to drive the success and growth of the team within the Collections department.
• Align team goals with the overall company mission, vision, and strategic objectives.
• Lead initiatives to improve processes, systems, and overall efficiency within the team.
• Lead the resolution of high-impact issues and escalations, ensuring timely and effective solutions.
• Collaborate with other departments to address systemic issues and implement long-term solutions.
• Communicate effectively with stakeholders to provide updates, gather feedback, and ensure alignment on key initiatives.
• Represent the team in high-level meetings and discussions.
• Drive a culture of innovation and continuous improvement within the team.
• Identify and implement new technologies, tools, and best practices to enhance team performance and efficiency.
• Lead initiatives to streamline processes, reduce costs, and improve customer satisfaction.
• Mentor and develop future leaders within the team, providing guidance and support for their career growth.
• Implement succession planning strategies to ensure a strong pipeline of talent for key roles.
• Foster a culture of learning and development, encouraging team members to pursue professional growth opportunities.
• Utilize data analytics and reporting to drive informed decision-making and strategic planning.
• Monitor key performance indicators (KPIs) and metrics to assess the effectiveness of team initiatives.
• Provide insights and recommendations to senior leadership based on data analysis and trends.
• Ensure the team operates in compliance with all relevant regulations, policies, and standards.
• Develop and implement risk management strategies to mitigate potential risks and ensure business continuity.
• Conduct regular audits and reviews to ensure adherence to compliance requirements.
• Lead change management initiatives to support the implementation of new processes, systems, and technologies.
• Communicate effectively with team members to ensure understanding and buy-in for change initiatives.
• Provide support and resources to help team members navigate through periods of change.
• Provide leadership, guidance, and assistance to team members by answering questions and providing feedback on customer issues.
• Lead escalated calls from the team and support collections of accounts across all stages of delinquency.
• Perform mentoring and training with new representatives in the Collections area.
• Lead team learning sessions and assist in other assigned projects such as product testing or feedback.

Expected Qualifications:

• 5 years of relevant work experience

Additional Responsibilities & Preferred Qualifications:

Key Responsibilities

• Facilitate regular meetings with Third Party Collection Agencies to review and assess performance against established metrics.
• Develop and drive new initiatives aimed at increasing incremental recovery and enhancing overall vendor performance.
• Monitor agency performance through comprehensive reports and data analysis; hold vendors accountable to agreed-upon KPIs and service level agreements.
• Lead efforts to implement digital tools and processes that improve efficiency and streamline collection operations.
• Negotiate contract terms and service level agreements to ensure alignment with company objectives and cost-effectiveness.
• Maintain ongoing communication with TPAs to resolve issues, share feedback, and support continuous improvement.
• Collaborate internally with finance, compliance, and operations teams to ensure vendor activities meet regulatory and company standards.
• Manage risk by identifying performance gaps and coordinating corrective actions with internal and external stakeholders.
• Prepare detailed performance reports highlighting trends, challenges, and opportunities for senior management review.

About You

• Minimum 3 to 5 years of vendor management experience, preferably managing third party collection agencies or similar external vendors in a creditor, debt buyer, or financial services environment.
• Strong background in collections, debt recovery, or accounts receivable management with demonstrated success in driving vendor performance and compliance.
• Experience in facilitating performance reviews, developing recovery initiatives, and holding vendors accountable to key performance indicators (KPIs) and service level agreements (SLAs).
• Familiarity with digital transformation initiatives aimed at improving operational efficiency in vendor or collections management.
• Knowledge of regulatory and licensing requirements for third party collection agencies, ensuring vendors adhere to compliance standards.
• Proven ability to analyze performance data, prepare detailed reports, and communicate effectively with internal and external stakeholders.
• Strong negotiation and contract management skills related to vendor agreements and service contracts.
• Ability to collaborate cross-functionally with finance, operations, compliance, and legal teams to support collections strategy and risk mitigation.

Subsidiary:

PayPal

Travel Percent:

0

PayPal is committed to fair and equitable compensation practices.

Actual Compensation is based on various factors including but not limited to work location, and relevant skills and experience.

The total compensation for this practice may include an annual performance bonus (or other incentive compensation, as applicable), equity, and medical, dental, vision, and other benefits. For more information, visit https://www.paypalbenefits.com

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The US national annual pay range for this role is $69,000 to $113,850

PayPal does not charge candidates any fees for courses, applications, resume reviews, interviews, background checks, or onboarding. Any such request is a red flag and likely part of a scam. To learn more about how to identify and avoid recruitment fraud please visit https://careers.pypl.com/contact-us

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For the majority of employees, PayPal's balanced hybrid work model offers 3 days in the office for effective in-person collaboration and 2 days at your choice of either the PayPal office or your home workspace, ensuring that you equally have the benefits and conveniences of both locations.

Our Benefits:

At PayPal, we’re committed to building an equitable and inclusive global economy. And we can’t do this without our most important asset—you. That’s why we offer benefits to help you thrive in every stage of life. We champion your financial, physical, and mental health by offering valuable benefits and resources to help you care for the whole you.

We have great benefits including a flexible work environment, employee shares options, health and life insurance and more. To learn more about our benefits please visit https://www.paypalbenefits.com

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Who We Are:

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Commitment to Diversity and Inclusion

PayPal provides equal employment opportunity (EEO) to all persons regardless of age, color, national origin, citizenship status, physical or mental disability, race, religion, creed, gender, sex, pregnancy, sexual orientation, gender identity and/or expression, genetic information, marital status, status with regard to public assistance, veteran status, or any other characteristic protected by federal, state, or local law. In addition, PayPal will provide reasonable accommodations for qualified individuals with disabilities. If you are unable to submit an application because of incompatible assistive technology or a disability, please contact us at paypalglobaltalentacquisition@paypal.com

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Belonging at PayPal:

Our employees are central to advancing our mission, and we strive to create an environment where everyone can do their best work with a sense of purpose and belonging. Belonging at PayPal means creating a workplace with a sense of acceptance and security where all employees feel included and valued. We are proud to have a diverse workforce reflective of the merchants, consumers, and communities that we serve, and we continue to take tangible actions to cultivate inclusivity and belonging at PayPal.

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