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Manager, Collections & Recoveries in Remote at Forbright Bank

NewSalary: $70000 - $80000Job Function: Executive/Management
Forbright Bank
Remote
Posted on
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Job Description

Manager, Collections & Recoveries

COMPANY DESCRIPTION: Forbright is a nationwide full-service bank and commercial lender focused on helping to build a brighter future for our clients and the communities we serve. Forbright is committed to exceptional client service by providing seamless, innovative personal banking services to depositors and creative financing solutions to visionary middle market businesses and investors in healthcare, technology, financial services, real estate, and other industries.
COMPANY CULTURE: We are a dynamic, high energy, fun, and fast-paced organization that has an exciting growth trajectory, meaningful mission, and embedded responsible practices into our daily interactions. We offer our team members a culture of collaboration, inclusion, flexibility, recognition, and giving back. We look to hire individuals that are passionate about our mission, and who are motivated, customer and results-oriented, innovative, adaptable, and thoughtful.
COMPANY MISSION: We are a mission-driven institution. We operate a sound dynamic institution that is well capitalized, liquid, profitable and uses best practices to manage risk and assure compliance with laws and regulations. We use Forbright’s capital, capabilities, innovation, and expertise to help our clients succeed and contribute broadly to building a brighter future.

JOB SUMMARY: The Manager, Collections & Recoveries is responsible for driving collections and recovery performance across a network of third-party vendors within a master servicer model. This role is accountable for execution and optimization of strategies across early- and late-stage delinquency (1–120+ days past due) and post charge-off recoveries. This individual plays a critical role in delivering portfolio outcomes by translating strategy into action, holding vendors accountable to defined performance targets, and continuously identifying opportunities to improve collections effectiveness, cost efficiency, and borrower experience.

This is a high-accountability role focused on measurable performance outcomes, operational rigor, and continuous improvement within the collections and recoveries function.

DUTIES AND RESPONSIBILITIES:

Collections Performance Execution

  • Execute against established collections and recovery strategies to improve key portfolio metrics, including roll rates, cure rates, liquidation rates, and recovery performance

  • Monitor ongoing performance and proactively identify trends, risks, and opportunities for improvement

  • Support forecasting and performance tracking for collections and recovery channels

  • Contribute to the development and refinement of strategies based on observed performance and data insights

Vendor Oversight & Management

  • Manage day-to-day performance of third-party subservicers and collection agencies responsible for delinquency management and charged-off recoveries

  • Hold vendors accountable to clearly defined KPIs, SLAs, and performance expectations

  • Identify performance gaps and drive timely corrective action plans with vendors

  • Lead recurring performance reviews and operational meetings with vendors (weekly/monthly/quarterly)

  • Escalate and help resolve complex operational or borrower issues in partnership with vendors

Performance Oversight & Improvement

  • Analyze collections and recovery performance data to understand drivers of borrower delinquencies and recovery trends

  • Partner with internal analytics teams to translate data into actionable insights and operational improvements

  • Identify, design, and implement process improvements and new collections tactics to enhance collections outcomes, scalability, and borrower experience

  • Prepare and deliver regular performance reporting, clearly articulating trends, drivers, and actions being taken

  • Ensure processes and vendor activities align with internal policies and regulatory requirements by partnering closely with the Legal and Compliance teams

  • Perform other duties as assigned

QUALIFICATIONS:

  • Associate’s Degree required; Bachelor’s Degree preferred

  • Minimum of 5 years of experience in collections, recoveries, or servicing operations, preferably in a consumer lending environment

  • Demonstrated experience managing third-party vendors or subservicers to deliver business outcomes

  • Strong analytical skills with demonstrated ability to use data to drive performance improvements

  • Expertise on collections regulations and compliance requirements (e.g., FDCPA, CFPB guidance)

  • Strong ownership mentality with focus on measurable outcomes

  • Strong problem-solvingabilitywith a bias for action and urgency

  • Demonstrates strong project management rigor and the ability to manage priorities effectively

  • Proficiency with Microsoft Office tools (Outlook, Word, PowerPoint, Excel)

  • Excellent verbal, written, and interpersonal communication skills

  • Highly organized with strong timemanagement capabilities and attention to detail

  • Self-motivated, self-directed, and results-oriented

  • Adaptable and able to multitask in a fast-paced, evolving environment

  • Can work independently and within a team; solution-oriented with a collaborative approach

The pay range for this position is above. The specific rate will depend on the successful candidate’s qualifications and prior experience $70,000 (entry level qualifications) to $80,000 (highly experienced).
POSITION REQUIREMENTS: We are committed to creating an inclusive workplace where all employees are capable of performing their job position. Work is primarily conducted in an office setting while certain positions may allow for remote work through the use of technology at management discretion. The functions described below are representative of those to successfully perform duties of this job. Reasonable accommodations may be made to enable employees to perform the essential functions. While performing duties of this job, the employee may be regularly required for extended periods of time to:
• Remain in a stationary position
• Use hands and fingers
• Utilize a computer monitor with visual acuity
• Operate technology or other office machinery such as printers, scanners, etc.
• Communicate clearly verbally and/or in writing with others
ADDITIONAL DUTIES: For Forbright Bank to remain efficient and nimble as a growing organization, team members are expected to exhibit a high level of flexibility regarding any duties that may be situationally assigned outside of this job description.
PERKS/BENEFITS:
• Comprehensive health, dental, and vision plans
• 4 weeks PTO
• 401k + company match
• Metro SmartTrip benefits ($50/mo)
• Remote or hybrid (4 days per week in-office) work schedules for most positions
• Incentives for purchasing solar panels, electric vehicles, biking to work, etc.
• Paid subscriptions to Veterans Compost, Capital Bikeshare, Imperfect Foods reimbursement, and more!
• Best Workplaces for Commuters 2023 & 2024 winner
• The Washington Post Top Workplaces 2023, 2024, and 2025 winner
• American Banker Best Banks to Work For 2023 winner
CORE PRINCIPLES:
• Excellence: Excellence is not a goal, but a standard, reflected in the precision of our work and the quality of our decisions. Excellence is a discipline that compounds over time and creates lasting value; it must be measured and managed.
• People: Our people are our greatest strength. We foster a culture of respect, inclusion, and ambition - where everyone matters. We celebrate collaboration and teamwork and prize loyalty - to one another, the company, our mission, and values.
• Innovation: We invest boldly in technology, harnessing innovation not for its own sake but to make banking and lending better, faster, and smarter for our clients, more efficient for our team, and more profitable for our shareholders. By combining human insight with technological excellence, we strengthen our ability to serve, to adapt, and to succeed in a changing world. Innovation is a continuous investment in new ideas.
• Sound Practices: Our foundation rests on prudence, care, integrity, and discipline. We manage credit and business risk with rigor and fundamentals-based judgment, act with transparency, and uphold the highest standards of corporate governance and regulatory compliance to ensure sustainable growth and enduring financial strength.
• Distinct Value: We focus our energy where we add value. We avoid the commoditized and the ordinary, choosing to compete through insight, specialization, technology and service. By concentrating on areas where expertise matters and relationships endure, we create differentiation that is defensible and lasting.
• Clients: We exist to advance our clients’ success and to help them grow. We listen deeply, think creatively, and deliver solutions that solve problems, drive impact and add value. Every client relationship is built on partnership, performance, and purpose.
• Shareholders: We are committed to creating exceptional value for our shareholders. We invest for the long term and view our shareholders as partners – not observers - in value creation. We allocate capital wisely, execute with precision, and continuously adapt our business model to pursue the most attractive, risk-adjusted returns. We work to make rational decisions, avoid unnecessary complexity, maintain strong liquidity and capital, and communicate with clarity and honesty. We measure success both by current performance and by the durability and quality of the long-term value we build.
• Communities and the Environment: We believe prosperity and responsibility go hand in hand. We invest in inclusive opportunity and environmental stewardship. Our goal is simple - to do our part build a brighter, more sustainable future for the communities we serve and the world we share.
It is the policy of Forbright Bank to provide equal employment opportunities to all qualified individuals and to administer all aspects and conditions of pre-employment and employment without regard to protected characteristics.
Employment with Forbright Bank is at-will, which means that either you or the Company may terminate the relationship at any time.
By applying, you acknowledge that you have reviewed our CCPA Privacy Notice.

$70,000 - $80,000 a year

Job Location

Remote

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