Collections Vendor Manager - PenFed Credit Union

Are you looking to take your career from good to great? As an employee of PenFed, every day is an opportunity to thrive, and be part of a team working to ensure our organization is providing world class service to our members, employees, and our communities. We exist to help our members realize their full potential, educate and encourage their dreams, and make every effort to follow our mission and help our members “do better.” Joining PenFed is more than being an employee; it’s about being a part of the PenFed family.

PenFed is hiring a Collections Vendor Manager to work onsite at our Eugene, Oregon or San Antonio, Texas service center.  The primary purpose of this job is to is to provide support to the collection departments’ vendors, by building strong relationships and monitoring closely the performance of each vendor.  The Vendor Manager works directly with vendors and management to improve the value the vendor is providing PenFed.  This position will interact with various departments within the PenFed organization including but not limited to Third Party Risk Management, Procurement, Legal, and Information Security.

Responsibilities:

Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions. This is not intended to be an all-inclusive list of job duties and the position will perform other duties as assigned. 

• Create and manage the administration of collection agency partner relationships and vendor performance scorecards.
• Monitors daily recovery activities by recovery vendors on consumer loans.
• Meet with each vendor on a monthly basis to discuss KPI’s, trends, and forecasts.
• Establish and maintain excellent relationships with vendors.
• Assist in the negotiation of rates with new vendors and current vendors up for renewal.
• Establish KPI's and service level agreements for each vendor.
• Collaborate with consumer collections management staff in the development and support of both corporate and business unit-level initiatives.
• Handle on/off-boarding of new vendors, including due diligence reviews and reference checks.
• Develop and implement performance improvement plans as necessary with any ‘at-risk’ vendor.
• Act as liaison between Third Party Risk Management (TPRM) and the collection department.
• Partner with Legal and Procurement to get contracts signed.
• Track and analyze invoices for accuracy, trends and forecasts.
• Approve and submit vendor invoices to Accounts Payable for processing.

   

• Perform audits against service level expectations.

• Prepare management reports identifying the value that each vendor provides PenFed.

• Responsible for the creation and publication of accurate reporting including but not limited to daily, weekly and monthly recovery reports, consolidating and interpreting various reports regarding portfolios that are serviced by collection agencies.

• Perform ad hoc tasks related to third parties and vendor evaluations.

• Stay abreast of changes in the collection industry and anticipate potential impacts to either the vendor or PenFed.

An equivalent combination of education and experience is considered.

• Bachelor’s degree in related field required, master’s degree preferred.
• Minimum of five (5) years’ experience in vendor management.
• Minimum of (5) years’ experience in collections.
• Ability to communicate clearly and effectively, both orally and in writing, with management, staff, attorneys, clients, and vendors.
• Effective time management, problem solving and multi-tasking skills.
• Effective presentation skills.
• Strong knowledge of the technologies, methodologies, and practices in vendor management.
• Requires experience in managing multiple functions and building relationships with people at a variety of levels.
• Knowledge of the roles, skills and technical knowledge required to achieve goals within the relevant discipline.

Supervisory Responsibility

This position will not manage staff.

Licenses and Certifications

Collection Association Certification Preferred
 

Work Environment

While performing the duties of this job, the employee is regularly exposed to an indoor office setting with moderate noise.

*Most roles require working in an office setting with moderate noise and the ability to lift 25 pounds.*

Travel

The ability to travel to various worksites and be on-call is required.

Established in 1935, PenFed today is one of the country’s strongest and most stable financial institutions with over 2.8 million members and over $36 billion in assets. We serve members in all 50 states and the District of Columbia, as well as in Guam, Puerto Rico and Okinawa. We are federally insured by NCUA and we are an Equal Housing Lender. We are available to members worldwide, via the web, seven days a week, twenty-four hours a day.
 
We provide our employees with a lucrative benefits package including robust medical, dental and vision plan options, plenty of paid time off, 401k with employer match, on-site fitness facilities at our larger locations, and more.
 
Equal Employment Opportunity
PenFed management will maintain and observe personnel policies which will not discriminate or permit harassment or retaliation against a person because of race, color, creed, age, sex, gender, gender identity, gender expression, religion, national origin, ancestry, marital status, military or veteran status or obligation, the presence of a physical and/or mental disability or medical condition, genetic information, sexual orientation, and all statuses protected by applicable state or local law in all recruiting, hiring, training, compensation, overtime, position classifications, work assignments, facilities, promotions, transfers, employee treatment, and in all other terms and conditions of employment. PenFed will also prohibit retaliation against individuals for raising a complaint of discrimination or harassment or participating in an investigation of same.
 
PenFed will also reasonably accommodate qualified individuals with a disability so that they can apply for a job or perform the essential functions of a job unless doing so causes a direct threat to these individuals or others in the workplace and the threat cannot be eliminated by reasonable accommodation or if the accommodation creates an undue hardship to PenFed. Contact human resources (HR) with any questions or requests for accommodation at 402-639-8568.