The purpose of this position is to manage and oversee the day-to-day operations of the Collections/Member Solutions department. Responsibilities include but are not limited to; workflows, staffing, training, job performance, team building, evaluation, annual performance reviews, provide counseling and training where necessary to improve performance. Manage day-to-day collection operations for Collections/Member Solutions, including but not limited to; Real Estate, Charge-off, Bankruptcy, Repossession, Remarketing, and all other delinquent loan activities.
This position is also responsible for any technology enhancements as well as overseeing and creating policies and procedures related to credit reporting, and compliance with all State and Federal laws. As well as ensuring Business Continuity procedures are followed, this position will also identify trends in lending that may affect the credit union's loss ratio.
Essential Job Duties and Responsibilities:
Management of the Collections function:
- Manage delinquent mortgage and consumer loan collections--Oversee daily operations, including workflow, quantity, and quality of accounts worked. Provide leadership, training, mentoring, coaching, performance evaluation, and advancement/salary recommendations.
- Review, tracking and audit disposition of repossessed and foreclosed collateral.
- Monitor for CFPB, NCUA, Credit Reporting, and applicable State and Federal Law compliance, in addition to Conventional and Government loan guideline adherence. Ensure the department is up to date with Disaster Recovery and Business Continuity procedures.
- Create monthly, quarterly, and annual financial reports related to Collections, Repossessions, Charge Off’s, and Bankruptcy.
Staff Development / Alignment:
- Provide direction and inspiration for team assigned tasks.
- Set goals with direct reports and helps drive alignment with corporate strategic initiatives.
- Provides individual guidance and feedback through regular performance evaluations
- Maintain a positive collections staff and recognize accomplishments by pursuing proper problem resolution techniques.
- Provide training to collectors to identify counseling opportunities using Collector Production Reports and Cisco Call Logs. -
- Initiate and move forward any technological advances that benefit the department and the organization.
Minimum Formal Education Required for this Position:
Knowledge is consistent with a bachelor’s degree in business or a related field.
Each year of relevant work experience may be exchanged for a year in a relevant degree program or vice versa. For example, a requirement of “Knowledge Consistent with a Bachelor’s Degree in Accounting and 2+ years of accounting experience” could be substituted for a High School Diploma and 6 years of relevant accounting work experience or a Master’s Degree in Accounting and 0 years of work experience.