Fifth Third Bank Collections Vendor Relationship Liaison. in GRAND RAPIDS, Michigan
Fifth Third Bank is one of the top-performing banks in the country, with a heritage that spans more than 150 years. We've staked our claim on looking at things differently to making banking a Fifth Third Better. This applies to our relationships with customers and employees alike.
We employ about 18,000 people, and what we offer is:
# A chance for employees to build their future, with supportive career development and financial wellness programs.
# An environment where we win together. We celebrate achievement and work collaboratively. We're also a three-time Gallup Great Workplace honoree.
# An invitation to impact lives in a positive and lasting way. Everything we do is geared toward improving lives. That's fun and exciting.
It comes down to the fact that Fifth Third is a warm and caring place to with which to grow # as a customer or as a team member.
The Consumer Bank works together as one unit to coordinate the delivery of deposit products, mortgages, auto loans, home equity loans, credit cards, and other consumer products. Whether in need of a mortgage or a new car, our customers know we offer a sol ution to help them achieve their goals.
GENERAL FUNCTION: Serves as the primary support to the Collections Line of Business in the on-boarding of vendors for third party services and ongoing management of vendor relationships and performance. Assesses vendor performance by usingreportingandscorecards; insures performance aligns with the contractual requirements. Assists in identifying and resolving performance or contractual issues. Responsible for planning, scheduling and participating in discussions with third partyvendorsregardingperformance scorecards, overall performance reviews and issue tracking. Performs a variety of functions ensuring compliance in accordance with bank and regulatory requirements related to vendor management while operating within the bank'sriskappetite.
Responsible and accountable for risk by openly exchanging ideas and opinions, elevating concerns, and personally following policies and procedures as defined. Accountable for always doing the right thing for customers and colleagues, and ensures thatactions and behaviors drive a positive customer experience. While operating within the Bank's risk appetite, achieves results by consistently identifying, assessing, managing, monitoring, and reporting risks of all types.
DUTIES & RESPONSIBILITIES:
. Manage and maintain scorecards for individual Outside Collection Agencies and Attorney vendors, ensuring that required Key Performance Indicators (KPI's) are in alignment with vendor contracts, LOB, and bank requirements.
. Manage daily vendor workload including but not limited to account assignments, account recalls, preparation of affidavits, settlement processing, system updates, vendor emails and strategic actions.
. Manage and resolve customer complaints around regulatory compliance, FDCPA, UDAAP and Fair Lending; working with Office of the President, Compliance Partners and Internal Legal as needed.
. Document all internal and external collection efforts accurately in the appropriate collection system.
. Identify performance issues and compliance risks, creating action plans to remedy deficiencies in service or product. Manage action plans to ensure vendors continued compliance.
. Manage and document ongoing performance calls with vendors to review performance, regulatory changes, compliance concerns and other matters, including service expectations.
. Facilitate regular vendor scorecard reviews in addition to vendor risk, quality and performance audits while upholding objectivity pertaining to the vendor relationship.
. Proactively identify, manage, and communicate issues and risks, escalating as necessary to management.
. Assist in contract renewals and vendor questionnaires.
. Complete annual vendor letter, policy and procedure reviews.
. Document vendor correspondence, provide quality vendor feedback, respond to and resolve internal complaints regarding vendor services, and ensure safe and sound management of vendors in accordance with regulatory, LOB and bank requirements.
. Observe vendor processes, controls, compliance, and security to ensure adherence to Bank, regulatory and contract requirements.
. Inform vendors compliance departments of upcoming regulatory requirements as notified by the 53rd Bank Regulatory Council and ensure documentation of their understanding and compliance with said requirements.
. Maintain log of vendor contacts, escalation lists, and historical scorecard performance and data.
. Partner with Line of Business Managers and the Consumer Vendor Management Team to develop, implement and manage ongoing performance monitoring activities, including corrective counseling and remediation plans, as well as effectuatevendorterminationsdue to lack of business need, product defects, or poor performance.
. Performs analysis on vendor reported consumer complaints. Identifies where remediation of root cause is needed and works with vendors towards resolution.
. Ensure both internal and vendor compliance on all regulatory requirements, bank policies and procedures.
SUPERVISORY RESPONSIBILITIES: None
KNOWLEDGE & SKILLS REQUIRED:
. High School diploma required and college degree preferred
. Minimum of 1 year of experience in Collections, Legal Matters or Vendor Management.
. Advanced knowledge of FDCPA, industry regulatory requirements and law.
. Intermediate level of proficiency required for Microsoft Word, Excel, Outlook and servicing systems.
. Excellent oral and written communication skills.
. Ability to communicate effectively with staff level, senior management, attorneys and other industry professionals.
. Understanding of collections practices, policies and procedures.
. Charge off collections experience preferred.
. Excellent customer service skills with both external and internal customers.
. Strong organizational skills and attention to detail.
. Ability to work independently with minimal supervision.
. Ability to work overtime as needed.
. Strong telephone and follow-up skills, and the ability to meet deadlines.
. Must be able to work in a team environment and interact with employees and all levels of the organizations.
. Must be able to work individually to achieve goals and meet demanding timelines.
Fifth Third Bank is proud to have an engaged and inclusive culture and to promote and ensure equal employment opportunity in all employment decisions regardless of race, color, gender, national origin, religion, age, disability, sexual orientation, gender identity, military status, veteran status or any other legally protected status.