What are the responsibilities and job description for the Collections Supervisor position at St. Mary's Bank?
Overview
Under the direction of the Loan Servicing Manager, the Loan Resolution Supervisor is responsible for overseeing and managing the loan resolution team to ensure effective handling and resolution of delinquent loans. This role requires a blend of leadership, communication, and analytical skills to develop strategies for resolving loan issues and improving department efficiency. The Supervisor ensures reasonable remedies meet the needs of the members and the Credit Union.
Key Responsibilities
• Supervise and mentor a team of loan resolution specialists, providing guidance and support to ensure high performance and professional development.
• Develop and implement strategies for resolving delinquent loans, including negotiation with borrowers and exploring alternative payment arrangements.
• Negotiate appropriate and reasonable extensions, payment plans, forbearance agreements, loan modifications
• Monitor and analyze team performance metrics, prepare regular reports to be presented to the Loan Resolution Committee and Credit Committee monthly. Present potential losses in the event of loan modification, short sale, deed in lieu, repossession, liquidation, foreclosure.
• Member Service: Address escalated member issues and complaints, working to find satisfactory resolutions while maintaining member relationships.
• Represent the credit union in court proceedings and communicate with attorneys in all chapters of Bankruptcy.
• Conduct training sessions for team members to enhance their skills and knowledge of loan resolution processes.
• Maintain accurate records of all loan resolution activities and communications with borrowers.
• Ensure all activities comply with relevant laws, regulations, and company policies.
• Regulation Owner must stay current and knowledgeable on assigned regulations for the credit union. In partnership and with the support of the Risk Management Compliance area, ensure regulatory changes ae identified and implemented timely to assure policies and procedures accurately reflect changes as well as complete periodic reviews and tests as necessary to maintain compliance.
Core Skill Competencies
• Communication: Clear and effective communication skills, both written and verbal.
• Leadership: Strong ability to lead, motivate, and develop a team.
• Analytical Skills: Proficient in analyzing data to make informed decisions and improve processes.
• Negotiation: Skilled in negotiating with members to reach mutually beneficial resolutions.
• Problem-Solving: Ability to identify issues and develop effective solutions.
• Attention to Detail: High level of accuracy in documentation and reporting.
• Member Service: Strong commitment to providing exceptional member service.
• Time Management: Ability to prioritize tasks and manage time effectively.
• Technical Proficiency: Proficiency in Microsoft Office Suite (Word, Excel, PowerPoint, Outlook) and collections software.
Physical Demands
• Prolonged periods sitting at a desk and working on a computer.
• Occasional lifting of office supplies, up to 15 pounds.
• Ability to work in a fast-paced environment and handle high-stress situations.
• Regular use of telephone and email for communication.
Qualifications
• Associates degree or equivalent experience with at least five years of collection experience preferably in mortgage, mobile home, consumer loan, and credit card collections
• Five years Supervisory experience in collections environment to include leadership and coaching skills.
• Proficiency in the understanding of Fair Debt Collection regulations and Bankruptcy practices
• Proficiency in the understanding of Investor (FNMA) and PMI Company reporting and guidelines.
• Must possess excellent written, verbal and negotiation skills.