Director of Collections Strategy

About Earnest

Earnest empowers motivated professionals to make well-informed financial decisions and realize their envisioned lifestyles. The team is devoted to assisting borrowers in confidently managing and controlling their debt by providing smarter borrowing options and transparent pathways.

Role Overview

We are seeking a Director of Collections to shape and lead the entire collections strategy, focusing primarily on scaling the personal loan portfolio within personal loans and student loan refinancing. Reporting directly to the Chief Product Officer, you will use advanced risk analytics to design strategies that improve portfolio performance throughout the delinquency lifecycle while maintaining a positive customer experience.

Key Responsibilities

• Develop and oversee comprehensive collections strategies for personal loans and student loan refinancing.
• Utilize sophisticated risk modeling and analytic tools to formulate collections and loss mitigation plans.
• Design and enhance treatment plans covering early outreach, hardship assistance, and pre-charge-off measures.
• Implement and refine testing across digital and traditional communication channels to optimize customer engagement.
• Drive the integration of AI technologies into the collections roadmap to boost efficiency and outcomes.
• Establish and track key portfolio performance indicators, translating complex data into actionable decisions.
• Manage performance standards and accountability with third-party vendors, and create an optimal operational balance between internal teams and external partners.

Candidate Profile

• Over 10 years in consumer lending collections strategy with significant leadership over loss mitigation and analytics.
• Strong background in unsecured consumer lending such as personal loans, student loan refinancing, credit cards, or installment lending.
• Proven ability to enhance collections outcomes while ensuring compliance, customer satisfaction, and efficient operations.
• Advanced analytical skills, capable of using data strategically to identify opportunities and quantify impacts.
• Expertise in metrics around collections performance, charge-offs, and vendor relations.
• Proficiency with SQL; familiarity with Python, statistical modeling, and BI tools like Tableau or Looker.
• Exceptional leadership and communication skills for cross-functional collaboration.

Additional Preferred Qualifications

• Experience building or modernizing collections functions in fintech or digital lending setups.
• Familiarity with AI, machine learning, or advanced analytics applied to collections and customer engagement.
• Well-versed in collections operations, vendor management, and regulatory environments.
• Knowledge of cutting-edge digital collections capabilities.

Compensation and Benefits

This role is US-based with a salary range of $213,000 to $262,000 annually, dependent on qualifications, location, and budget. Additional compensation includes annual performance bonuses and equity awards. Benefits include health, dental, vision, savings plans, Mac computers and home office stipend, monthly internet and phone reimbursements, employee stock purchase plan, RSUs, 401(k) with match, tuition reimbursement, generous PTO, competitive parental leave, and a $1,000 travel perk every employment anniversary.

Culture and Values

• Speed and efficiency as competitive advantages.
• Embracing challenging tasks with grit and resilience.
• A commitment to continuous improvement and excellence.
• Collaborative leadership focused on ownership and teamwork.
• Balancing seriousness in work with humor and creativity.

Equal Opportunity

Earnest fosters a diverse, inclusive, equitable, and welcoming environment. Employment decisions are made without regard to protected characteristics and comply with all relevant laws and fair chance hiring ordinances.