Collections Manager

Purpose:

Ensure that the credit and collection policies and procedures of the credit union best serve the credit union and its members. Oversee collections staff and provide leadership and guidance. Ensure strict compliance with state and federal credit and collection rules and regulations in all collection practices.

Duties and Responsibilities:

1. Ensure that credit and collection policies, procedures, practices, and documentation meet federal and state regulations.
2. Assign, monitor, and supervise the workload in the Collections Department to ensure the smooth and efficient flow of work. Ensure the courteous and considerate interface with members at all times.
3. Establish and monitor effective control procedures for late and/or delinquent or potentially delinquent loans. Determine when to charge to reserve.
4. On an on-going basis, communicate and monitor the requirements to staff in collections procedures to protect the credit union’s interests and to handle members courteously. Train staff in alternative collection techniques to resolve issues positively.
5. Review accounts where action beyond routine collection procedures must be approved or implemented. Handle complex situations. Resolve difficult or non-routine member issues.
6. Review all billings from attorneys retained for collection work.
7. Authorize legal proceedings. Review default notices, surrender notices, bankruptcy procedures, foreclosure notices, etc. for accuracy and completeness.
8. Review all accounts that are to be written off as uncollectible.
9. Develop and review accurate reporting procedures on collection activities. Prepare and analyze reports for senior management and/or the Board.
10. Establish and maintain effective employee relations.
11. Prepare, implement, and supervise the budget for the department that is consistent with the overall strategic plan and budget of the credit union.
12. Evaluate the job performance of subordinates to ensure quality work and service to members.

Essential Functions:

• Support daily collection activities and follow-up on delinquent accounts.
• Maintain accurate and timely documentation of collection efforts.
• Communicate effectively with members regarding loan status and payment arrangements.
• Monitor CPIP, escrow, and collateral-related matters.
• Escalate accounts with collateral risk or legal concerns to the Chief Lending Officer.

Qualifications:

Education:

2 years college degree required in relatable field.

Required Knowledge:

Basic understanding of loan servicing and collections processes. Familiarity with credit union policies and procedures preferred.

Experience:

3 to 5 years collections experience preferred.

Skills/Abilities:

• Strong organizational and time management skills
• Attention to detail and accuracy
• Effective verbal and written communication skills
• Ability to maintain confidentiality
• Basic computer proficiency and data entry skills
• Ability to work independently and as part of a team

Physical Requirements:

• Ability to sit for extended periods.
• Ability to use a computer and telephone.