Head of Student Retention needed at HyperionDev

ABOUT THE ROLE 

• The Head of Student Retention is responsible for driving student financial operations and maximising revenue generation through efficient management of collections, retention strategies, and student engagement. This leadership role focuses on enhancing student satisfaction, optimising payment processes, and reducing churn, while ensuring compliance with financial policies and legal requirements. You will take full ownership of the revenue stream derived from student payments, driving strategic initiatives to boost retention rates and maintain positive financial outcomes.

RESPONSIBILITIES

• Leadership and Team Management:
• Lead and mentor the Student Revenue and Retention team, fostering a high-performance culture focused on student outcomes, financial health, and accountability.
• Set clear goals and KPIs for the team to drive consistent results in collections, retention, and student satisfaction.
• Ensure team members are aligned with organisational priorities, motivating them to take ownership of their respective areas and supporting their professional growth.
• Revenue Management and Accountability:
• Take full ownership of the student payment lifecycle, from onboarding through to the final payment, ensuring accuracy and timeliness across all payment methods.
• Drive revenue growth by increasing payment compliance, reducing payment delinquency, and implementing proactive student retention initiatives.
• Develop and execute strategies to ensure the collection of all outstanding fees, including a focus on recovering delinquent payments while maintaining positive relationships with students.
• Manage the end-to-end student payment collection process, including monitoring monthly and ongoing payments, managing overdue accounts, and optimising the collections funnel for student loan and finance-related concerns.
• Retention Strategy and Ownership:
• Provide guidance to students on payment plans, loan options, and financial processes, ensuring clarity and transparency regarding their financial commitments. Address queries and support escalations with professionalism and empathy.
• Design and implement student retention strategies that maximise ongoing engagement, satisfaction, and financial commitment, reducing churn and dropout rates.
• Collaborate with cross-functional teams (Admissions, Support, Finance, etc.) to align retention strategies with student success and well-being initiatives.
• Monitor retention data and identify areas for improvement, creating targeted interventions to prevent student attrition due to financial challenges.
• Financial Reporting and Insights:
• Develop detailed, accurate financial reporting and analysis on student payments, loans, and overall retention trends. Provide insights to senior leadership for decision-making and forecasting.
• Own the accuracy and consistency of financial data across all payment platforms, collaborating with the Finance team to ensure seamless reconciliation and reporting.
• Use data-driven insights to refine and optimise collection processes, improving both financial outcomes and student experiences.
• Process Improvement and Accountability:
• Continuously evaluate and enhance payment workflows, introducing automation or system improvements where necessary to increase efficiency and reduce manual intervention.
• Take accountability for the success of process improvements, ensuring timely implementation and measurable outcomes.
• Ensure that all financial transactions, data handling, and processes comply with regulatory standards, including UK GDPR, and internal policies, safeguarding student data and finances.
• Cross-functional Collaboration and Ownership:
• Act as the key point of contact between departments to ensure a cohesive approach to student revenue and retention, balancing the needs of the business with student-centred practices.
• Work closely with the Finance and Admissions teams to ensure seamless operations between collections, student onboarding, and ongoing support. Ensure alignment in processes to improve payment rates and reduce churn.
• Liaise with Admissions, Education Operations, and Support teams to identify students at risk of financial non-compliance and proactively engage them with solutions.
• Drive strategic partnerships with external financial institutions for student loans or payment assistance programs, ensuring they align with organisational goals.

REQUIREMENTS
Minimum

• Bachelor’s degree in Business Administration, Finance, or related field.
• Minimum of 4 years of experience in revenue management, collections, or finance-related roles.    
• High proficiency with financial software (Xero, GoCardless, etc.) and data tools (Metabase).   
• Strong understanding of various payment platforms and methods (Direct Debit, EFT, etc.).
• Experience in student financial management, collections, or customer success in an educational environment is highly desirable.    
• Proven experience in a senior collections or revenue management role, ideally within the education sector or a similar customer-facing environment.    
• Experience with student retention strategies and knowledge of factors affecting student engagement and financial compliance.    
• Demonstrated leadership experience, with a strong track record of managing high-performing teams and driving revenue growth.    
• Proven experience in a collections management role, preferably within the education sector or a similar customer-focused environment such as Student Admissions and enrolment.    
• Exceptional written and oral communication skills.