Collections Manager

Job Description

Collections Manager

NewLane Finance is a commercial equipment finance company, serving small and mid-size business nationwide.  Our mantra is "Business Lending Done Right", and our strategy is to revolutionize small business lending by employing the latest technology and a motivated workforce to deliver fair and transparent financing solutions to businesses with unmatched levels of speed, convenience and customer service. Our products and services are offered to the business community primarily through financing programs with equipment manufacturers, distributors, and dealers.

Summary:

This position is responsible for designing, implementing, improving and executing on NewLane’s collections processes and managing timely collection of delinquent accounts.  The Manager will oversee all aspects of the day-to-day collection functions and activities from early stage through 90 days   The position will place an emphasis on continuous process improvements and an ongoing focus on building an effective and efficient collection team. 

Essential Functions and Responsibilities:

Actively manage, provide mentorship and ongoing guidance to the best-in-class Collection Specialists with the goal of advancing their career and development.  

• Using an optimal mix of technology solutions and human capital, lead the development and implementation of collection policies, strategies, and best practices to manage the collection process.
• Actively assist with the collection efforts (which includes calls, email follow ups, etc.) on higher balance accounts or accounts with more complex issues. 
• Manage individual and overall department performance to achieve critical KPIs (i.e., delinquency targets, charge-offs goals, customer response time, etc.) and deliver on department goals.
• Develop and review management reports to (i) evaluate performance of Collection Specialists, (ii) assess effectiveness of collection policies, procedures, and practices, and (iii) identify trends in the results and devise strategies to address.   
• Work closely (through weekly meetings) with leaders in Credit Underwriting, Legal and Asset Recovery to discuss delinquency and charge-off trends and to seek their assistance in collections matters as needed.
• Work with technology team to identify and implement the best technology systems and solutions for areas of responsibility.
• Proactively monitor delinquency and loss trends and effectively communicate results to Executive Management. 
• Ensure NewLane collection policies and practices are effective and in compliance with all Federal and State laws and regulations. 

Qualifications:

• Bachelor’s degree in related field or ten (10) years of progressive experience in Collections capacities in a B2B environment.
• Knowledge of creditors rights, enforcement remedies, asset repossession/remarketing processes, litigation processes and court procedures
• Foundational understanding of equipment financing contract terms and conditions
• Demonstrated strong leadership and managerial skills.  Proven ability to assemble, train and motivate work force to achieve company’s goals.
• Experience and aptitude in driving high level technology advancements for the business and teams, creating ongoing automation of services and processes.
• Excellent verbal and written communication and interpersonal skills
• Experienced in MS Office including Word, Excel, PowerPoint and various company software programs. Experience with Aspire a plus.

The successful candidate will receive competitive compensation, excellent benefits including Health, Dental, Vision, 401k) with match, flexible spending, Life Insurance, Short Term and Long-Term Disability Insurance, generous PTO, and much more…

NewLane Finance is an equal opportunity employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, gender expression, national origin, age, protected veteran or disabled status, or genetic information.

NewLane Finance will not be able to provide Relocation or Sponsorship

Salary Range:

Individual base pay may vary on additional factors such as the candidate’s experience, job-related skills, relevant education, geographic location, and other specific business and organizational needs.

In addition to base salary, WSFS Financial Corporation (WSFS) and its subsidiaries may offer eligible Associates discretionary and formula-based incentive and retention awards. WSFS provides a competitive benefits package, which includes medical, dental, and vision coverage; a 401(k) plan; life, accident, and disability insurance; flexible spending accounts (FSAs) and health savings accounts (HSAs); and wellness programs. Additional benefits may include paid parental leave, military leave, vacation and other paid time off, sick leave in accordance with applicable state laws, and paid holidays. Benefit offerings are subject to eligibility requirements, legal limitations, and may vary based on an Associate’s location and employment status. For more information about Associate benefits, please visit

WSFS Bank is inclusive and supportive of individual needs. If you have a physical or other impairment that might require an accommodation, including technical assistance with the WSFS Bank Careers website or submission process, please contact us via email at

WSFS is an equal opportunity employer. We do not discriminate based upon race, religion, color, national origin, gender (including pregnancy, childbirth, or related medical conditions), sexual orientation, gender identity, gender expression, age, status as a protected veteran, status as an individual with a disability, or other applicable legally protected characteristics.