Director of Collections Strategy & Operations
Posted on Friday, July 28, 2023
Founded in 2005 as the first peer-to-peer marketplace lending platform in the U.S., Prosper was built on a simple idea: connect people who want to borrow money with those who want to invest. Since inception, Prosper has helped more than a million people gain access to affordable credit with over $23 billion in loans originated through its platform. Our mission is to help our customers advance their financial well-being through a variety of products including personal loans, credit, home equity lines of credit (HELOC), and our newest product, HELoan. Our diverse culture rewards accountability and cross functional teamwork because we believe this encourages innovative thinking and helps us deliver on our mission.
We’re on a mission to hire the very best, and we are committed to creating exceptional employee experiences where everyone is respected and has access to equal opportunity. We realize that new ideas can come from everywhere. It is important to us that every hire connects with our vision, mission, and core values. Join a leading fintech company that’s democratizing finance for all!
About Our Operations Team
Rooted in our values, Prosper’s Operations team is driven by how we can improve the customer experience, always thinking there must be a better way. If you are looking for a mission driven company with a great culture, check us out! As a Prosper employee, you will have the opportunity to take ownership of your career - we offer learning opportunities and career development plans. Come join a dedicated, diverse community that will help you discover your fullest potential! Are you ready to Prosper?
Diversity expands opportunities
Collaboration creates better solutions
Curiosity fuels our innovation
Integrity defines all our relationships
Excellence leads to longevity
Simplicity guides our user experience
Accountability at all levels drives results
We are seeking a proven leader to join Proper’s Risk Operations team. As the Director of Collections Strategy & Operations, you will play a pivotal role in optimizing credit performance for our Personal Loans and Credit Card business lines. Reporting to the VP of Risk Operations, you will be responsible for developing and executing Collections strategies while overseeing operations performance.
Problems You Will Solve
- Utilize a data-driven and analytic approach to optimize collections strategy. Design, implement and evaluate experiments to evolve strategy and reduce losses across the portfolio.
- Guide ML and analytics teams in developing machine learning models and actionable analytics to enable end-to-end collection strategies and operations.
- Develop integrated and best-in-class customer contact strategies with digital capabilities and self-service options.
- Develop and monitor key performance indicators (KPIs) and regularly present performance to management and executive leadership.
- Ensure collection strategies, processes and operations are fully compliant with relevant laws, regulations, and industry standards.
- Collaborate with cross-functional partners, including risk, operations, legal, compliance, marketing, finance, product, and engineering to improve overall loss performance and customer experience.
- Develop and maintain relationships with external debt collection agencies to enhance collections performance and customer experience.
- Continuously identify and implement process improvements to enhance the efficiency and effectiveness of Collections Operations.
- Lead assessment and implementation of best-in-class collections technology platforms.
- Bachelor’s degree in Business, Statistics, Economics, Engineering, or Mathematics. Advanced degree preferred.
- 8+ years of professional experience in the financial industry with expertise in collections and risk management.
- Broad-based knowledge of banking regulations, laws, and industry standards.
- Strong leadership and management skills, with experience leading high performing functional and cross-functional teams to drive results.
- Solid BPO management experience in contact center operations.
- Excellent analytical skills and experience using data to drive decision making.
- Strong interpersonal and communication skills, with the ability to build relationships with internal and external stakeholders
- Demonstrated ability to synthesize, prioritize and drive results with a high sense of urgency.
- Proficiency in relevant tools or technologies (e.g., Collections systems, CRM systems, data analytics tools).
What We Offer
- The opportunity to collaborate with a team of creative, fun, and driven colleagues on products that have an immediate and significant impact on people's lives
- The opportunity to work in a fast-paced environment with experienced industry leaders
- Flexible time off, comprehensive health coverage, competitive salary, 401(k) employer match, paid parental leave
- Wellness benefits including access to mental health resources, virtual HIIT and yoga workouts
- A bevy of other perks including Udemy access, childcare assistance, pet insurance discounts, legal assistance, and additional discounts through Perkspot
- The ability to work remotely in the United States
Applicants have rights under Federal Employment Laws.
California applicants: please click here to view our California Consumer Privacy Act (“CCPA”) Notice for Applicants, which describes your rights under the CCPA: https://www.prosper.com/plp/legal/privacy-notice-for-applicants/
At Prosper, we're looking for people with passion, integrity, and a hunger to learn. We encourage you to apply even if your experience doesn't precisely match the job description. Your unique skill set and diverse perspective will stand out and set you apart from other candidates. Prosper thrives with people who think outside of the box and aren't afraid to challenge the status quo. We invite you to join us on our mission to advance financial well-being.
Prosper is committed to an inclusive and diverse workplace. All aspects of employment including the decision to hire, promote, discipline, or discharge, will be based on merit, competence, performance, and business needs. We do not discriminate on the basis of race, color, religion, marital status, age, national origin, ancestry, physical or mental disability, medical condition, pregnancy, genetic information, gender, sexual orientation, gender identity or expression, veteran status, or any other status protected under federal, state, or local law, including the San Francisco Fair Chance Ordinance. Prosper will consider for employment qualified applicants who are non-US citizens and will provide green card sponsorship.