Product Management Lead - US Loan Collections Domain (10-25 yrs)

IMPORTANT NOTE: only applicants with prior experience in loan collections/debt recovery products and/or projects pertaining to the US market will be considered.

Product Management Lead

Job Description:

- PPS Staffing's client, a technology consulting company, is seeking an experienced and strategic Product Manager (at the Director/Senior Director/Vice President level) to lead the evolution of their flagship debt collection technology product for banks, financial services companies, loan collection agencies and law firms.

- This individual will be responsible for driving the product roadmap, collaborating with cross functional teams and ensuring the platform effectively addresses the entire ecosystem of debt recovery including litigation management, working with scrub agencies, leveraging tracers and outsourcing partners.

- The Product Manager will play a critical role in ensuring the product delivers value through automation, analytics and AI-driven decision-making.

Key expectations/responsibilities:

Product Strategy & Vision:

- Define and implement a long-term product vision that addresses the complexities of debt recovery, from early-stage delinquency to litigation, settlement and charge-offs.

- Understand banks' operational pain points and craft solutions that enhance recovery outcomes.

Litigation Management:

- Build features that support litigation management, enabling banks to seamlessly transition delinquent accounts into legal action.

- Integrate capabilities for tracking court cases, managing legal documentation and collaborating with external legal teams and law firms.

Ecosystem Collaboration:

- Ensure the product effectively works within the broader debt recovery ecosystem, including scrub agencies (to validate debtor contact information), tracers (to locate hard-to-reach debtors) and third-party collection agencies.

- The product should provide easy integrations and workflows to manage these external relationships.

Automation-Driven Enhancements:

- Lead initiatives to automate critical aspects of debt recovery, including automated contact strategies, dynamic repayment schedules and intelligent settlement offers.

- Work closely with the engineering team to implement these automation solutions, reducing manual effort and enhancing recovery speed.

AI & Predictive Analytics:

- Work with the data science team to incorporate advanced AI models that can predict debtor behavior, optimize contact strategies and recommend personalized recovery actions.

- Develop features that provide predictive insights into the likelihood of recovery, enabling banks to focus resources on high-probability accounts.

Debt Segmentation & Prioritization:

- Develop and enhance segmentation tools to categorize debts based on debtor profiles, risk factors and financial data.

- Enable banks to prioritize high-risk accounts for faster resolution, improving recovery rates and resource allocation.

Outsourcing Partners:

- Collaborate with outsourcing partners to leverage manpower and people capabilities for labor intensive activities such as call center operations and collections.

- Design product features that support seamless handoffs and collaboration with external teams, tracking performance and results in real-time.

Working with Scrub Agencies & Tracers:

- Ensure the product facilitates easy integration with scrub agencies for data verification and tracers for locating elusive debtors.

- Automate workflows to initiate tracing activities and track debtor location efforts efficiently.

Multi-Channel Communication:

- Build and enhance multi-channel communication tools that allow banks to interact with debtors via phone, email, SMS and in-app messaging.

- Ensure these tools support personalized and automated messaging, reducing manual effort while maintaining debtor engagement.

Debt Sale & Recovery Management:

- Develop features to support the sale of bad debt portfolios to third-party debt buyers.

- Provide functionality for tracking, reporting and optimizing the debt sale process, including negotiating and executing sales agreements.

Performance Analytics & Reporting:

- Design robust analytics dashboards that allow banks to track the performance of their collections processes/teams.

- Include real-time reporting on KPIs such as recovery rates, agent productivity and the effectiveness of AI-driven interventions.

- Enable banks to make data-driven decisions to optimize their collections efforts.

Cross-Functional Leadership:

- Collaborate with engineering, legal, compliance and customer support teams to ensure the product delivers high-quality, compliant and user-friendly features.

- Lead cross-functional teams in delivering innovative solutions that meet the evolving needs of banking clients.

Marketing & Product Positioning:

- Partner with the marketing team to effectively communicate the product's value proposition. Develop and execute go-to-market strategies that position the product as an industry leader in debt recovery technology for banks.

- Work closely with sales to craft compelling messaging that resonates with potential customers.

Customer Feedback & Continuous Improvement:

- Regularly engage with bank customers to gather feedback and insights.

- Prioritize product enhancements based on user needs, market trends and regulatory updates.

- Ensure continuous improvement to stay ahead of competitors and meet evolving industry demands.

Compliance & Risk Management:

- Ensure the product adheres to the strict regulatory requirements surrounding debt collection, including consumer protection laws, data privacy (GDPR, CCPA) and anti-money laundering (AML) regulations.

- Provide features that help banks manage compliance risks effectively.

Note: only applicants with prior experience in loan collections/debt recovery products and/or projects pertaining to the US market will be considered.