About this role
ESSENTIAL DUTIES
Plans, organizes, and directs the activities of the Collections Department. Makes final decisions regarding action on delinquent loans/accounts, including workout loans, and extensions. Coordinates paralegal effort of delinquent accounts with the companys legal counsel. Refers charged off accounts and monitors results with collections agencies. Liaison with credit reporting agency to assure files are properly maintained. Represents the company in small claims, municipal, and bankruptcy courts. Directs the filing of bond claims. Conducts risk analysis and mitigation. Identifies risk management issues, trends, and provides reporting to management.
Ensures a competent and motivated staff through hiring, training, coaching, supervising, and reviewing performance of staff employees.
Sets staff goals, monitors progress, and directs the workflow of the department to assure standards are met. Is responsible for performance evaluations and annual review of performance expectations for subordinate personnel.
Proactively analyzes monthly losses, identifying and projecting subsequent months losses and delinquency ratios and numbers.
Facilitates monthly charge-off review meeting to discuss charge off and loss trends with Management.
Recommends strategies to address negative trends and isolation of impacting factors which have been identified.
Analyzes Risk Management trends and communicates results to Management.
Evaluates and provides timely responses to member inquiries for loss mitigation relief, including payment modifications.
Prepares and maintains required records and reports regarding loss mitigation as well as loan servicing activities to remain in compliance with SOX regulations and internal controls.
Oversees and completes all projects as assigned. Keeps management apprised of all critical issues.
Oversees the appropriate documentation for bankruptcy accounts. Oversees Small Claims Court documentation with the court. Prepares the required documentation to collection agencies or attorney. Attends court hearings for various legal/bankrupt files. Oversee the preparation of delinquent accounts for charge off requests.
Oversee vendor relationships that pertain to Collections related activities to ensure the desired results are achieved and that the values of those vendors remain in alignment with the values of the credit union.
Regularly review Collections practices, researching processes, technologies, and metrics that will aid the credit union in staying ahead of current economic trends.
Must comply with all company policies and procedures, applicable laws and regulations, including but not limited to, the Bank Secrecy Act, the Patriot Act, and the Office of Foreign Assets Control.
Addresses complaints and resolves situations while using good judgment and protecting credit union interests.
Ensures the safety and security of employees and credit union equipment and property. Including cleanliness, proper maintenance, and safe work practices.
MANAGEMENT SKILLS AND ABILITIES
Skilled in leading, directing, coaching, motivating, delegating, evaluating, counseling, and recognizing employee accomplishments.
Ability to cross-train employees on applicable credit union products.
Ability to develop and encourage cooperation and teamwork among employees.
Skilled in building rapport between the Collections Department and all other departments in the credit union.
Qualifications
EDUCATION, EXPERIENCE AND QUALIFICATION REQUIREMENTS
High School diploma or equivalent .
Knowledge of Collections activities and practices as would norma l ly be acquired from three years of increasingly responsible experience within a financial institution.
2 or more years' experience in a leadership role.