About the Team/Role
This position will play a critical role in overseeing and optimizing the low-value and early-stage collections and cash application processes across various lines of business, leading teams responsible for ensuring timely and accurate cash application, proactive collections efforts, ultimately contributing to healthy cash flow and minimizing bad debt. This role will frequently partner with the Workforce Manager to ensure efficient and effective deployment of resources.
Functional Area Oversight:
Collections: Oversight of early stage low value at risk collections efforts, requiring high degrees of operational efficiency and scale. Collections strategies may prioritize volume, efficiency and quick resolution.
Cash Application: Oversight of the application of incoming payments to the appropriate customer accounts or outstanding invoices.
How you'll make an impact
Operations Management
Create, maintain and drive adherence against service strategies and operational plans.
Constantly strive to increase productivity, efficiency, and results by initiating process improvements and advocating for technology enablers.
Responsible for ensuring that solutions are scalable, sustainable and successfully balance the business need and risk.
Leverage technology and automation to streamline workflows and reduce manual effort.
Serve as a change agent for continuous improvement though new/refined/enhanced methodologies.
Define, document, and trend individual and team Key Performance and Key Risk Indicators.
Generate regular reports on low risk collections and cash application metrics, highlighting trends, areas of improvement, and key performance indicators.
Drive Scorecard reporting for upstream and adjacent internal stakeholders providing commentary and insight.
Work with the Workforce Manager on capacity planning, pipeline management, scheduling and resource management and ensure that systems are in place to measure capacity utilization.
People Management
Responsible for core people management functions of Selection/Assessment, People Development, Performance Management, and Building Bench Strength/Succession Planning
Oversee and guide the development and delivery of training plans, programs and documentation.
Motivate and inspire the team and monitor and cultivate employee satisfaction and engagement.
Productivity and quality tracking, both team and individual, to ensure optimal performance.
Expense management to departmental budget, goals and operational scale.
Capacity planning and resource deployment strategy
Provide coaching and guidance to leader direct reports, inclusive of processes for progressive discipline, employee engagement, and other key staff management responsibilities.
Stakeholder Management
Communications management across broad constituencies – internal associates, management, and senior team if/when applicable and external across various levels of the client organization.
Responsible for productive collaboration across a broad group of internal stakeholders, including but not limited to Relationship/Client Managers, Account Management, WEX Bank, Contact Center, Implementation, Product and Sales, effectively balancing business needs with risk and scale objectives.
Project Management
Work with the Business Process Analyst on the creation of and presentation of business proposals for technology enablers to streamline and optimize collection of accounts with lower financial exposure as well as cash application procedures and implementation once delivered.
Work with the Business Process Analyst to facilitate the rollout and stabilization of new business processes and/or features and functionality.
Responsible for engagement of resources into all applicable projects and/or company initiatives that may impact the operations.
These statements are intended to describe the general nature and level of work being performed rather than give an exhaustive list of all duties and responsibilities.
Experience you'll bring
Knowledge, Skills, Abilities (must align with Position Description, but provides greater detail)
Minimum Required Qualifications:
Bachelor’s degree in Accounting, Finance or Business or the equivalent combination of education and work experience.
7+ years of progressive management experience in complex risk and/or operational functions.
Proven track record in managing high volume collections and cash application operations/teams.
Demonstrated knowledge of process and productivity measurements; ability to create and monitor Key Performance Metrics
Results driven, action oriented and self-motivated
Superior critical thinking, problem solving and decision-making skills
Advanced negotiation and dispute resolution skills; ability to de-escalate tension in customer interactions and bring to appropriate resolution.
Ability to be influential at all levels of the organization, leading stakeholders from various business units to agreement.
Advanced knowledge of the Fair Debt Collection Practices Act (FDCPA) and regulatory requirements of a Bank.
Strong understanding and adherence to healthcare regulations and compliance requirements, such as HIPAA.
Strong understanding of invoicing, billing, customer statements and statement reconciliation processes
Occasional travel may be required.
Preferred Qualifications:
Master’s Degree in Finance or related area.
Ability to leverage analytical abilities to make data-driven decisions that mitigate risk and maximize growth and revenue opportunities.
Proven experience managing distressed customers and achieving recovery objectives.
Broad and deep knowledge of WEX-utilized systems and business functions.
Experience with the identification and execution of process improvement initiatives, using process improvement methodologies.
Exceptional interpersonal and customer service skills with the ability to ascertain information and maintain dialogue with multiple teams.
Ability to effectively and calmly operate within a complex and changing environment.
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