Collections Manager

POSITION SUMMARY
Responsible for overseeing and managing the credit union’s daily collection efforts, including managing delinquent loans and overdrawn deposit accounts. This role also handles special asset accounts, such as repossessions and foreclosures, and works closely with outside counsel. Ensures effective strategies for charge-offs, loan modifications, and troubled debt workouts. Maintains the credit union's financial health by developing and executing recovery efforts for charged-off loans and resolving credit reporting disputes. Manages bankruptcy cases, reviewing and updating procedures, and handling various special projects as needed.

RESPONSIBILITIES AND DUTIES

1. Daily Collection Efforts
   1. Manage all collection activities, including contacting members with delinquent loans and overdrawn deposit accounts.
   2. Develop and implement effective strategies to minimize delinquencies and recover outstanding debts.
2. Special Asset Accounts
   1. Manage repossessions and foreclosures, ensuring compliance with credit union policies and legal regulations.
   2. Work with outside counsel to manage special assets to ensure efficient resolution.
3. Charge-offs and Loan Modifications
   1. Recommend and process charge-offs in line with credit union policies.
   2. Review and recommend loan modifications or troubled debt workouts to assist members in resolving financial difficulties.
4. Credit Reporting and Disputes
   1. Review and resolve member disputes related to credit reporting, filed with the credit reporting agencies. 
5. Bankruptcies
   1. Review and manage bankruptcy cases, ensuring proper handling of impacted accounts and compliance with legal requirements.
6. Procedures and Compliance
   1. Review, update, and maintain internal procedures related to collections and special asset management.
   2. Ensure all activities are compliant with applicable laws, regulations, and industry best practices.
7. Charge-Off Loan Recovery
   1. Design and implement strategies to recover funds from charged-off loans.
   2. Collaborate with internal teams to maximize recovery efforts.
8. Special Projects
   1. Lead or participate in special projects as assigned, ensuring timely and effective execution.
9. Other Duties as Assigned
   1. Perform other duties related to collections and asset management as required.

QUALIFICATIONS

Education: 

Bachelors degree in business or related field or an equivalent combination of formal training and experience

Experience: 

1. At least three years of lending or collection experience preferred
2. Experience in managing repossessions, foreclosures, and bankruptcies preferred 
3. Knowledge of credit union loan policies, products, procedures, processing, and underwriting guidelines
4. Real estate background helpful

Skills and Abilities:

1. Accurate and attentive to detail
2. Solid written and verbal communication 
3. Solid analytical skills
4. Well organized and able to multi-task
5. Computer system and software experience
6. Willing to work with and assist others/team-player
7. Problem-solving skills
8. Strong time management skills

SUPERVISORY RESPONSIBILITIES: None
SCHEDULE: Full-time