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Secured Collections Strategy Manager

Apply now Job no: 688986
Work type: Permanent Full Time
Location: England - Newcastle, England - Leeds, Scotland - Glasgow City Centre, UK
Categories: Regulatory Compliance & Risk Management, Team Leader/Manager, Risk&Audit

Job Title: Secured Collections Strategy Manager 
Salary Circa £70,000 DOE plus car allowance and benefits
Location: Flexible, ideally Leeds, Newcastle or Glasgow
Contract Type: Full-Time / Permanent 

Disrupt the status quo. It’s a simple statement that tells you everything about our ambition. It’s about thinking what money could be, instead of what it’s always been. Thinking this way gives us so many opportunities to make our customers happier. We’re not like other banks – and we want you to help us be even more exceptional. 

Virgin Money is well known for doing things better and we are constantly on the lookout for talented, imaginative and smart people to help deliver success. We are working hard to offer a real alternative to banking as usual – a bank that aims to disrupt the status quo and help our customers, colleagues, company shareholders, corporate partners and the communities we serve. Making everyone happier about money! 

And that’s were our Risk department come in.  They provide us with a fool proof framework to make decisions that we know will keep our customers’ and investors’ money safe.  When they’re not safeguarding our bank from an array of risks that could pop up at any moment.  

So, what does the Secured Collections Strategy Team do?  

In a nutshell, our Collections Strategy is about helping our customers through times of financial difficulty, helping provide them with sustainable and affordable solutions to their debt problems. The Collections Strategy team within Mortgage Credit Risk manages the automated contact strategies of the Bank across Mortgage Lending Portfolios. The team are responsible for a wide range of activities including;

  • Managing the automated collections strategies
  • Reporting on arrears and contact strategies as portfolios evolve,
  • Setting the Bank’s risk appetite

Day to day you will be…. 

  • Managing the automated collections strategies that determine which customers we contact, when and by what method. 
  • Leading on the scoping, designing, development and implementation of secured collections   strategies, developing new policies whilst maintaining regulatory compliance
  • Using MI to monitor collections metrics of both new and existing business, including making recommendations for changes to manage emerging trends better through changes to contact strategies
  • Reporting on arrears and contact strategies as portfolios evolve
  • Developing bad debt forecast methodology and providing regular forecasts to senior stakeholders. 
  • Feeding into key Bank processes such as Risk Appetite Statement (RAS) development, regulatory requests, debt sale activities etc.  
  • Leading a small BAU team responsible for reviewing secured collections strategy performance
  • Presenting output to key stakeholders both within and outside of Risk.  
  • Striving to make the Collections data more accessible. 
  • Engaging with Operations to identify business opportunities and recommending strategic and operational changes.
  • Providing subject matter expertise into Credit Committees and wider projects requiring Collections Strategy inputs. 
  • Building and maintaining strong relationships within Risk, FCT and with external stakeholders in order to support and influence key business decisions through data and analysis. 
  • Working closely with other business areas to share business insight and ensure strategies remain aligned across business areas.
  • Striving to deliver added value that makes everyone happier about money at every opportunity. 

There are a few essentials you'll need to bring… 

  • Proven and successful experience of working in a Collections Strategy managerial role
  • SME Collections management knowledge and experience, ideally gained within an IRB environment
  • A proven track record of designing, developing and implementing secured collections strategies, as well as developing new policies whilst maintaining regulatory compliance
  • Previous experience of using MI to monitor collections metrics of both new and existing business, including making recommendations for changes to manage emerging trends better through changes to contact strategies
  • In depth knowledge of mortgage product(s) and the market landscape the Bank operates in.  
  • Demonstrable experience of managing a small team in a fast-moving environment including effective resource management and positive behaviours. 
  • Strong analytical skills using SAS providing the ability to work to a high degree of accuracy, ensuring you always get the basics right
  • Significant experience in building trusted relationships internally including conflict / challenge management
  • A logical approach to problem solving in relation to both technical and business issues. 
  • Superb stakeholder management skills, with the ability to influence Senior Leaders and stakeholders
  • Strong analytical skills using SAS providing the ability to work to a high degree of accuracy, ensuring you always get the basics right.  
  • Sound decision making and critical thinking.  

We would love it if you had… 

  • An understanding of the Legal and Regulatory frameworks and agendas 
  • A strong understanding of the operations of Risk 
  • Comprehensive understanding of risk policies and methodologies 
  • Proven ability to build strong networks and relationships with internal and external parties 

RED HOT Rewards

  • A generous holiday package and the option to buy more!
  • Private Medical Insurance - with the option to extend to family members.
  • Pension!  A market leading pension – we’ll top up your contributions too.
  • Flexible benefits – customise your rewards to work for you!

We really need you to have the skills and experience listed in the ''There are a few essentials you’ll need to bring’’ section above, but the rest is just our wish list, so please don’t let that put you off applying, we’d love to hear from you! 

Inclusion at Virgin Money 

Inclusion is at the heart of everything we do here at Virgin Money. It’s good for you, it’s good for us and it’s amazing for our customers. We know that great minds don’t think alike, so we rely on your diverse thoughts, feelings, beliefs and backgrounds to be the best we can possibly be. Got any questions about this or need some support with your application? We’d love to hear from you so get in touch with our friendly team at careers@virginmoney.com or HRUKRecruitment@cybg.com 

Point to note…

At the minute, depending on which team you are joining, lots of us are working from home. This is something that may change over time, and if so, we will come together in one of our hub locations, giving you the chance to meet your new colleagues in person. We will of course, make sure you have the IT equipment to access our systems and to interact digitally with your new team and colleagues, but we thought it best to let you know this in advance, so you can make sure you are set up to work safely and productively. If you have any questions on this let us know!

Now the legal bit…

If we offer you a job and you accept, there are some checks we need to complete before you can start with us. This will include a credit and criminal record check, as well as providing 3 years' worth of satisfactory references.

 

Advertised: GMT Standard Time
Applications close: GMT Standard Time

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