VP Collections Process & Transformation(L12)

4-9 years
a month ago 1 Applied
Job Description

Role Title: VP Collections Process & Transformation

COMPANY OVERVIEW:

Synchrony (NYSE: SYF) is a premier consumer financial services company delivering one of the industry's most complete digitally enabled product suites.

Our experience, expertise and scale encompass a broad spectrum of industries including digital, health and wellness, retail, telecommunications, home, auto, outdoors, pet and more.

. We have recently been ranked #5 among India's Best Companies to Work for 2023, #21 under LinkedIn Top Companies in India list, and received Top 25 BFSI recognition from Great Place to Work India. We have been ranked Top 5 among India's Best Workplaces in Diversity, Equity, and Inclusion, and Top 10 among India's Best Workplaces for Women in 2022.

. We offer 100% Work from Home flexibility for all our Functional employees and provide some of the best-in-class Employee Benefits and Programs catering to work-life balance
and overall well-being. In addition to this, we also have Regional Engagement Hubs across India and a co-working space in Bangalore.

Organizational Overview:

Collections team services inbound and outbound collections calls from 2 due to 7due. They work on identifying right party contact details and thereafter execute the call process. It also would attempt to assist in follow up for collection by determining the reason for delinquency by effectively listening and communicating with customers and assist / communicate them with various payment methods and plans as designed.

Role Summary/Purpose:

You will support Collections Operations and will partner with Collections L3 owner for multiple L3's during Regulatory Exam and Risk Testing requests lead projects and innovative ideas to champion an outstanding service experience and drive more effective Collections Operations. You will also be responsible for conducting ongoing analysis of each process within the multiple L3s, including systematic controls, to identify process gaps or process improvement opportunities as well as ownership for ongoing detective and preventive control effectiveness, issue management ,process documentation and provide governance and management to the Collections Projects with multiple, complex process and strategy workstreams .

Key Responsibilities:

  • Champion Customers: Collaborate with Site leaders and Ols for Customer Experience Initiatives that improve (VOC) results in Collections Operations and also be end to end SME during new Product/Client integrations

  • Act as Owners: Extend the support to the process owner for multiple L3 Collections processes and also resolve the emerging issues that fall under the associated L3 process. Responsible for conducting ongoing analysis of each process within the multiple L3s and this includes working cross functionally to determine root cause, systematic controls, to identify process gaps or process improvement opportunities as well as remediation, legal and compliance approval of process changes, as well as timely updates to documentation channels.

  • Elevate Every Day : Engage/Lead high impact projects that will improve the effectiveness and efficiency of Collections Operations call centers across all Synchrony Domestic and international sites.

  • Relate and Inspire : Partner with the L3 owners for issue identification, resolution and Customer remediation and to ensure effective process controls are developed and maintain for applicable CTCs and risks for these L3 processes.

  • Create and comply with the Process Governance COE to complete risk mitigation tools such as RAQ, PRCSA, PRC and Process Maps and obtain appropriate level of approvals.

  • Server as Owner of Records Information Management (RIM) for Collections Operations, including maintaining inventory and retention frequency for all required documents.

  • Work with Strategy and Transformation as Point of Contact for technology enhancements impacting frontline servicing processes, Workstation Testing and Shakeouts, opening IRs and gaining buy-in via BCC and Legal Tollgates to develop solutions and ensure operational efficiencies.

  • Identify process improvement opportunities to ensure compliance with banking regulations and Synchrony Collection policies and practices. Lead multiple projects related to L3 process changes/initiatives and Issue closure and remediation.

  • Design revised process and recommend organizational changes based upon project impacts.

  • Design revised work processes based upon the technology change, prepare and make presentations in business reviews and project tollgates to Collections Senior Leadership team and client leaders.

  • Perform other duties and/or special projects as assigned.

Required Skills/Knowledge:

  • Knowledge of process governance, regulatory, and/or compliance mandates

  • Proficient in Microsoft Office (Excel, PowerPoint, Word)

Desired Skills/Knowledge:

  • Strong critical thinking and problem-solving skills with a demonstrated ability to evaluate situations using multiple sources of information.

  • Strategic thinking with ability to lead with influence in developing and implementing actionable plans to drive business results.

  • Excellent relationship building and influencing skills across front-line teams, peers, functions, and key business stakeholders including Senior Leadership

  • Working knowledge of all Collections applications and terminologies.

  • Demonstrated data analysis, problem solving, and attention to detail.

Eligibility Criteria:

  • Bachelor's degree with 9+ years of experience in Synchrony Call Center Operations or work experience in a similar role or in lieu of a degree 11+ years of experience in Synchrony Call Center Operations or similar role.

  • 4+ years of working experience in Collections or Recovery in a Managerial or leadership role.

  • Required L3 ownership experience.

Work Timings: 8 AM ET till 5 PM ET

For Internal Applicants:

  • Understand the criteria or mandatory skills required for the role, before applying.

  • Inform your Manager or HRM before applying for any role on Workday.

  • Ensure that your Professional Profile is updated (fields such as Education, Prior experience, Other skills) and it is mandatory to upload your updated resume (Word or PDF format)

  • Must not be any corrective action plan (First Formal/Final Formal, PIP)

  • L10+ Employees who have completed 18 months in the organization and 12 months in current role and level are only eligible.

  • Level 10+ employees can apply

Collections

Synchrony Financial is a consumer financial services company headquartered in Stamford, Connecticut, United States.The company offers consumer financing products, including credit, promotional financing and loyalty programs, installment lending to industries, and FDIC-insured consumer savings products through Synchrony Bank, its wholly owned online bank subsidiary.

People Also Considered

Career Advice to Find Better