Senior Recovery Operations Vendor Manager

The Senior Recovery Operations Vendor Manager at Upstart is tasked with overseeing agency partners that manage post-charge-off collections. This includes driving performance, ensuring compliance, and maintaining high standards of borrower interactions. They are responsible for creating and implementing strategies that enhance performance metrics and ensuring that external vendors surpass key performance indicators to align with Upstart's overarching business objectives.

To qualify for the Senior Recovery Operations Vendor Manager role at Upstart, candidates should possess at least 5 years of experience in vendor management or collections, preferably within the fintech sector. Additionally, 3 years of people management experience is required. Exceptional communication, negotiation skills, analytical capabilities, and knowledge of compliance in the financial services industry are also critical components for success in this role.

In the Senior Recovery Operations Vendor Manager role, you will collaborate with agency partners to ensure that borrower interactions are personalized and seamless. Your focus on performance management will help address borrower needs promptly and effectively, reinforcing Upstart's commitment to quality and improving overall borrower satisfaction during the recovery process.

At Upstart, a Senior Recovery Operations Vendor Manager can expect ample growth opportunities as they refine their expertise in vendor management and contribute directly to strategic business outcomes. With exposure to various internal stakeholders, continuous skill development, and the chance to lead performance improvement initiatives, this role can serve as a stepping stone toward senior leadership positions within the company.

The team culture at Upstart promotes a digital-first approach, encouraging collaboration and innovation. The Senior Recovery Operations Vendor Manager will be part of a supportive environment that values diversity, teamwork, and open communication. Regular onsite meetings foster strong bonds among team members, while flexibility in work arrangements ensures that everyone can thrive in their unique way.

In addressing your experience with vendor management, focus on specific examples where your efforts directly influenced vendor performance. Highlight measurable outcomes, such as improved response times or customer satisfaction scores, to underline your impact. Additionally, relate your past experiences to the responsibilities you'll have at Upstart, emphasizing your proactive approach to ensuring compliance and enhancing borrower experiences.

When managing multiple agency partners, prioritize relationships by setting clear expectations and maintaining open lines of communication. Share how you establish regular check-ins to monitor performance, ensure alignment with company goals, and foster collaboration in addressing challenges. It's also vital to understand each partner's unique strengths and leverage them to achieve shared objectives.

To elevate recovery performance among agency partners, you'd want to develop targeted training programs that emphasize best practices and compliance. Additionally, consider creating performance dashboards that provide real-time data on metrics to encourage accountability. Building a culture of feedback and continuous improvement with agency partners is vital to drive ongoing enhancements.

In your response, discuss a specific instance where you analyzed vendor performance metrics to identify trends or challenges. Explain how you used that data to implement action plans, such as revising service level agreements or providing targeted training, leading to measurable improvements in vendor effectiveness.

Ensuring compliance involves creating detailed oversight programs that clearly outline expectations and monitoring procedures. Describe how you would implement regular audits of each vendor's operations and establish open communication channels for reporting compliance-related issues. Highlight your ability to build trust, ensuring agency partners feel supported in maintaining compliance.

Discuss your systematic approach to vendor assessment, emphasizing regular performance reviews using predefined KPIs. Share how you collaborate with vendors to identify areas for improvement and how you implement performance enhancement initiatives, leading to optimized service delivery and borrower satisfaction.

Express the importance of finding that balance through effective training and monitoring. You can emphasize that while efficiency is crucial, never compromising the quality of borrower interactions is vital. Share your approach to ensure agency partners are equipped to meet both efficiency and quality standards through comprehensive training programs and ongoing support.

Begin by addressing the issue directly with the partner, focusing on data to highlight areas of concern. Discuss the importance of open communication and providing support to help them improve. Outline a corrective action strategy that includes clear timelines, measurable targets, and regular follow-ups to achieve the desired performance outcomes.

In your response, detail your familiarity with the regulatory landscape that governs financial services, emphasizing any direct involvement you've had with compliance measures. Cite the specific regulations you've managed and how you ensure that all vendors adhere to these guidelines. This will highlight your proactive approach to managing compliance in vendor operations.

Explain your strategy for staying current on regulatory changes, such as attending industry conferences, participating in training sessions, and engaging with expert networks. Discuss the process you would establish for quickly disseminating this information to agency partners and ensuring they can adapt their practices accordingly, thus maintaining compliance.