Third Party Oversight Max Recovery Senior Associate

Join Max Recovery Team! Oversee servicers, ensure compliance, and drive exceptional customer outcomes!

As a Third Party Oversight Max Recovery Senior Associate in Max Recovery Team you will oversee the Third Party Oversight of our external servicers, who manage our portfolios. You will include monitoring servicer performance, identifying and mitigating risks, ensuring compliance with relevant regulations, industry best practices, and internal policies. Above all, ensuring we deliver good customer outcome.

The opportunity is to join the London based Max Recovery desk. The Max Recovery team is an integral part of the EMEA SPG team. The primary activity of the desk is acting as principal to purchase portfolios of receivables where the underlying debtors are consumers in an active insolvency or bankruptcy arrangement. 

Job Responsibilities

• Manage servicer performance against agreed service levels and ensure they adhere to contractual obligations.
• Implement and maintain Third Party Risk Management frameworks and processes to manage risks effectively. 
• Contract Management of the Servicing Agreements ensuring adherence to contract terms.
• Develop and maintain trust-based relationships with the Servicers and internal stakeholders.
• Promoting operational excellence through the review and refinement of processes, policies, and procedures.
• Analyse data, identifying trends, and resolving issues to improve performance.
• Deliver cost efficiency and added value from contracts, with a sound understanding of financial and business principles.
• Contribute to business growth through portfolio acquisitions, particularly the onboarding projects.
• Support Business development initiatives to explore new counterparty relationships.

• Participate in due diligence on servicers and third parties to assess their suitability and identify potential risks.

  Required qualifications, capabilities, and skills

• Knowledge of core regulatory requirements of the business and the wider firm, desk and key individuals with respect to compliance related matters such as Consumer Duty, vulnerable customers, complaint handling, data privacy and data protection. 
• Proven ability to assess the impact of regulatory change and work with the servicers to implement solutions that ensure continued compliance.
• Knowledge of the spectrum of consumer lending products in the UK market and the Consumer Credit Act.
• Knowledge of how UK insolvency and bankruptcy arrangements work legally and practically
• Understanding of how consumer receivable portfolios perform including key risks and drivers of performance
• Ability to build rapport and maintain relationships with servicers and internal stakeholders.
• Experience of working with sellers and servicers to effectively project manage the servicing onboarding of portfolio including assisting with commercial or contract negotiations 
• Ability to communicate clearly, concisely and thoughtfully with internal and external stakeholders including the Board of Directors, Senior Management, Investment Committee, Middle Office and internal control functions including LOB Legal, LOB compliance, Principal Risk etc.
• Exceptional work ethic, as well as the ability to work under pressure to tight deadlines, whilst maintaining strong attention to detail.
• Strong understanding of Third Party Risk Management principles and practices:
• Ability to identify, assess, and mitigate risks including experience of risk management tools and systems: 

Preferred qualifications, capabilities, and skills 

• Experience of working as part of a global team with key internal stakeholders across different geographies and time zones