Melanie Penn
Smyrna
Summary
Dynamic Collections & Recovery Manager with proven success at Arrowhead Advance, enhancing compliance scores by 15% through effective risk assessment and team leadership. Skilled in negotiation and process improvement, I excel in fostering collaboration and driving performance to achieve organizational goals while maintaining exceptional customer service standards. Versatile manager with background in coordinating diverse teams and managing complex projects. Skilled in strategic planning, operational improvement, and fostering collaborative environments. Demonstrated ability to enhance efficiency and productivity while maintaining high standards of quality. Successfully implemented innovative solutions that resulted in positive organizational changes.
Overview
11
11
years of professional experience
Work History
Collections & Recovery Manager
Arrowhead Advance
Claymont
08.2019 - 09.2024
- Managed a team of collection agents, managing 200 past-due installment loan accounts, ensuring adherence to compliance and regulatory standards.
- Conducted quality elevations on loan documentation and the transactional process to maintain the review teams' queue, monitoring work completed on customers' accounts to achieve department goals.
- Conducted risk assessments on loan transactions, identifying discrepancies that reduced errors by 25%, and mitigated financial losses.
- Coach and gave feedback to staff while conducting monthly one-on-one meetings on performance, development, training, and addressing any issues that need improvement or corrective action.
- Take escalation calls from customers, debt consolidation companies, and lawyers.
- Set up payment plans, and negotiate settlements.
- Collaborated with management to revamp policy frameworks, ensuring full alignment with industry best practices, and enhancing compliance scores by 15%.
- Assist with the improvement of the department, and ensure that internal policies, procedures, and collections regulations are adhered to by each collector.
- Conducted regular meetings with team members to review and assess progress of recovery initiatives.
- Enforced state and federal regulations as well as company policies and procedures for strict compliance.
- Analyzed business performance data and forecasted business results for upper management.
- Recruited and trained new employees to meet job requirements.
- Ensured adherence to internal controls designed for protecting confidential information related to customer accounts.
- Assigned work and monitored performance of project personnel.
- Interviewed prospective employees and provided input to HR on hiring decisions.
- Evaluated individual and team business performance and identified opportunities for improvement.
- Conducted employee evaluations to offer personalized feedback and coaching.
- Negotiated settlements with customers who have delinquent accounts in order to reduce outstanding balances owed by the company.
Collection Specialist
Bank of America
Newark
08.2018 - 08.2019
- Primary responsibilities are collections, customer servicing, submitting extension requests, and other loss mitigation and recovery activities.
- Contact delinquent customers to secure payment and determine the reason for delinquency on active or inactive loan, deposit, and/or credit card accounts.
- Establish full balance repayment plans, settlements, and resolve routine billing inquiries, and negotiate payment arrangements to cure delinquent accounts.
- Interviewed customers to determine reasons for delinquency, source of income, and next pay date to build solutions for financial issues.
- Conducted financial reviews to assess debtor ability to pay outstanding debts.
- Answered customer questions regarding account discrepancies or problems.
- Maintained accurate records of all collection activities in the computer system.
- Identified delinquent accounts and initiated appropriate collection action in accordance with the company's policies.
- Reviewed overdue accounts to schedule contact dates for follow-up phone calls.
- Resolved disputes and negotiated settlements to satisfy all parties involved.
- Encouraged customers to pay due amounts on credit accounts, claims or overdrawn checks.
- Analyzed customer creditworthiness, financial condition, and account history to determine appropriate collection action.
- Developed solutions to resolve customer payment disputes or discrepancies.
- Maintained confidentiality and adhered to FDCPA regulations during collections.
Rewards Investigation Specialist
Barclay Card US
Newark
02.2016 - 08.2018
- Responsible for investigating reward cases, resolving issues involving point discrepancies, items not received, card branding upgrades, and possible fraud.
- Identified and tracked reward issues that may be adversely affecting clients' accounts.
- Provided a root cause analysis to identify trends and issues that are utilized by senior management to improve the process.
- Worked closely with technology and our numerous business partners to assist with remediating accounts to ensure the department stays within the guidelines and controls outlined by compliance.
- Prepared detailed investigative reports and presentations, summarizing findings and recommending actionable steps.
- Managed multiple projects simultaneously while meeting tight deadlines under pressure.
- Tracked and reported on investigation progress to stakeholders, adjusting strategies as needed to address new findings.
- Produced timely and accurate reports about findings.
- Maintained detailed case log of all cases assigned to monitor progress and completion.
- Conducted extensive research on complex cases to identify and analyze facts, evidence, legal issues, and other relevant information.
Relationship Manager
Barclay Card US
Newark
01.2014 - 01.2016
- Facilitated escalation calls from front-line care representatives and partners to resolve customer inquiries.
- Responsible for taking ownership of resolving issues from the beginning until the resolution.
- (credit line increase, unlocking cards while out of the country, and updating reward points correctly)
- Created cases, researched data, adjusted accounts, CBRs, and took all steps to ensure the customer receives the proper communications in a timely and accurate manner.
- Educated clients, assisted with navigation of online applications and offers on the Barclay website environment.
- Maintained accurate records of all client interactions within the company's CRM system.
- Identified opportunities for cross-selling and upselling financial products to meet clients' objectives.
- Evaluated customer feedback to identify areas of improvement in products or services offered.
- Coordinated with product development teams to design services that meet client needs.
- Implemented strategies aimed at improving overall customer satisfaction levels.
- Developed and maintained strong relationships with clients to ensure satisfaction and loyalty.
- Provided exceptional customer service by responding promptly to inquiries and resolving issues in a timely manner.
- Addressed customer questions and concerns regarding products and services.
- Provided expert financial advice to clients, enhancing their decision-making process.
Education
Bachelor of Science - Business Management
University of Phoenix
Tampa, FLSkills
- Loan Documentation & Processing
- Risk Assessment and Mitigation
- Process Improvement
- Interpersonal & Communication Skills
- Microsoft Software
- Word
- Excel
- PowerPoint
- Access
- TSYS
- Outlook
- LexisNexis
- FDR
- Credit Bureau
- Bloomberg
- Collections management
- Negotiation techniques
- Team building
- Customer service
- Performance evaluation
- Process improvement
- Quality assurance
- Customer relationship management
- Shift scheduling
- Conflict resolution
- Regulatory compliance
- Risk assessment
- Payment processing
- Data analysis
- Employee training
- Financial analysis
- Policy development
- Employee development
- Analytical skills
- Teamwork and collaboration
- Communication skills
- Reliability
- Attention to detail
- Time management abilities
- Goal setting
- Problem-solving
- Staff training
- Computer skills
- Performance reviewing
- Quality improvement
- Interpersonal skills
- Adaptability and flexibility
- Team leadership
- Task delegation
- Multitasking
- Hiring and training
Management Summary
Experienced Loan and Collection Manager with over 20 years of collective expertise in financial services. Proficient in managing delinquent accounts, mortgages, credit analysts, resolving disputes, and mitigating risk. Skilled in leadership, coaching, motivating and mentoring teams to achieve departmental goals and ensure compliance are within regulations. Demonstrated ability to analyze and research data, negotiate settlements, reconciliation, project management, and provide excellent customer service.
Timeline
Collections & Recovery Manager
Arrowhead Advance
08.2019 - 09.2024
Collection Specialist
Bank of America
08.2018 - 08.2019
Rewards Investigation Specialist
Barclay Card US
02.2016 - 08.2018
Relationship Manager
Barclay Card US
01.2014 - 01.2016
Bachelor of Science - Business Management
University of Phoenix
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