Overview

Description: The 3rd Party Collections Manager is responsible for the overall management, performance, and day-to-day operations of the Third-Party Collections Department. This position provides direct leadership to collection staff and is accountable for achieving departmental collection goals while maintaining high standards of compliance, productivity, client service, and employee performance.The Collections Manager develops and implements collection strategies, monitors collector performance, manages account workflows and priorities, provides coaching and training, and ensures accounts are worked consistently and effectively.This position works closely with Executive Management, Compliance, Accounting, Sales/Client Services, and other departments to ensure client expectations and organizational objectives are achieved. Requirements: Department Leadership & ManagementDirectly manage the daily activities and performance of Third-Party Collectors.Establish clear daily, weekly, and monthly performance expectations.Maintain an active presence within the department and provide collectors with direction, support, and accountability throughout the workday.Conduct regular individual and team meetings to communicate expectations, results, strategies, challenges, and departmental priorities.Promote communication, teamwork, professionalism, and accountability among collection staff.Monitor staffing levels, schedules, attendance, workload distribution, and departmental coverage.Participate in recruiting, interviewing, hiring, onboarding, and training new collectors.Conduct employee performance evaluations and recommend merit increases, promotions, disciplinary action, or additional training when appropriate.Address performance concerns promptly and develop performance improvement plans when necessary.Collection Performance & ProductionTake ownership of monthly departmental collection goals and recovery performance.Monitor collections throughout the month and make strategy adjustments when results are below expectations.Establish individual collector goals that support the overall departmental collection goal.Monitor collector productivity, including outbound calls, accounts worked, right-party contacts, promises to pay, payments collected, kept promise rate, recovery dollars, and account penetration.Identify underperforming portfolios, collectors, strategies, or account segments and implement corrective measures.Review daily, weekly, and monthly collection reports to identify trends and opportunities.Ensure collectors maintain appropriate levels of account activity and follow-up.Assist collectors with difficult accounts, negotiations, escalated calls, and payment arrangements when necessary.Continuously evaluate opportunities to increase recoveries while maintaining quality and compliance standards.Collection Strategies & Account ManagementDevelop, implement, monitor, and adjust collection strategies based on portfolio performance.Establish appropriate account priorities, queues, campaigns, and collection workflows.Ensure assigned accounts are worked consistently and according to client requirements and company procedures.Review account inventory and placement volumes to ensure workloads are appropriately distributed.Monitor aging categories and prioritize accounts based on collectability, client requirements, delinquency stage, balance, and other relevant factors.Evaluate strategy effectiveness through measurable results and make adjustments when needed.Coordinate special collection campaigns or targeted account initiatives.Ensure collectors understand the purpose and expectations of assigned strategies.Client & Interdepartmental SupportUnderstand individual client requirements and ensure accounts are worked according to contractual and operational expectations.Monitor client portfolio performance and identify potential issues or opportunities for improvement.Assist Executive Management and Sales/Client Services with client performanc