Make banking a Fifth Third better®
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YOUR RESPONSIBILITIES:
The responsibilities for this role are below; you may support projects of varying complexity based on skill and organizational priorities.
• Consumer Recovery Leadership: Lead recovery performance and execution across internal recovery, external recovery, and total loss operations. Maintain accountability for recovery goals, liquidation performance, inventory outcomes, service levels, quality standards, compliance requirements, expense management, and customer experience expectations across assigned channels.
• Recovery Strategy and Inventory Optimization: Partner in the development of recovery strategy and lead its execution across internal recovery, external agency placement, and total loss inventories. Establish operating priorities and recommend enhancements to account segmentation, treatment paths, placement timing, agency allocation, inventory movement, and performance practices to improve net recoveries and reduce losses.
• Recovery Performance and Financial Accountability: Maintain overall accountability for recovery dollars, liquidation rates, net recovery yield, agency commission expense, total loss outcomes, inventory performance, productivity, quality, and service-level results. Use scorecards and portfolio analytics to identify performance gaps, set corrective priorities, and ensure actions are implemented and sustained.
• Recovery Agency Leadership: Lead the Agency Manager responsible for day-to-day oversight of the Bank's external recovery agency network. Set agency performance expectations and maintain accountability for placement strategy, inventory mix, allocation and reallocation decisions, comparative results, commission expense, escalated issues, corrective actions, and recommendations regarding agency onboarding, continued use, or exit.
• Total Loss Operations: Manage total loss operations, including the timely and accurate handling of insurance proceeds, customer or third-party payments, supporting documentation, deficiency balances, cycle times, controls, and financial outcomes.
• People Leadership: Lead and develop exempt and non-exempt leaders and staff across internal recoveries, external recoveries, total loss operations, agency management, and operational support, including work performed through offshore service providers. Establish clear accountability for results, provide timely feedback, support career development and succession planning, and build leadership bench strength.
• Operating Practices and Controls: Implement and recommend enhancements to procedures, controls, workflow standards, and operating practices supporting recovery treatment, external agency programs, total loss operations, deficiency recovery activities before legal referral, and related initiatives.
• Third-Party and Offshore Governance: Maintain management accountability for recovery agency and offshore service-provider governance in partnership with the Agency Manager, Third Party Management, Compliance, Risk Management, and Finance. Ensure due diligence, performance reviews, service-level monitoring, quality controls, corrective action plans, scorecards, and ongoing oversight requirements are completed and escalated appropriately.
• Technology and Continuous Improvement: Partner with Technology and business stakeholders to implement workflow improvements, reporting enhancements, automation opportunities, dialer optimization, and operational efficiencies across the recovery and total loss lifecycle.
• Risk, Compliance, and Management Communication: Serve as the management lead for recovery-related audits, examinations, risk assessments, control reviews, and compliance activities. Ensure remediation is executed and provide senior leadership with recovery performance insights, significant issues, emerging risks, and…