Manager - Consumer Collections

Salary Range: $65,000-$85,000

At Midland States Bank, base salary is one component of our Total Rewards program. Exact compensation is determined by factors such as (but not limited to) education, skills, internal equity, and experience. This position offers additional compensation in the form of short-term incentives (i.e. bonus and/or commission) and may include long-term incentives (i.e. stock awards). Benefits for this role include comprehensive healthcare, well-being benefits, paid family leave as well as generous paid time off. Total Rewards also include banking perks, an Employee Stock Purchase Plan, 401K plan with company match and may include the opportunity to participate in our Non-Qualified Deferred Compensation plan. Incentives and benefits are subject to eligibility requirements.

Position Summary

The Manager – Consumer Collections leads the day-to-day processes and operations involved with collections of overdue/delinquent consumer and single-family mortgage loan accounts. This role is directly responsible for managing a specific portfolio of overdue accounts while leading a small team of paraprofessionals within the Consumer Collections Group. The primary objective is to protect the bank’s financial interests by efficiently managing past due consumer accounts across all stages of delinquency and by minimizing losses due to repossessions, foreclosures and charge offs; through effective communication and loss mitigation strategies. This position is a leadership role.

Primary Accountabilities

People

• Manages a team of professionals in a customer-centric culture to excel in a fast-paced environment.
• Coaches, develops, and conducts performance management activities with direct and indirect reports as well as the Consumer Collections Group overall efforts.
• Identifies high-potential employees for advanced training and development opportunities.
• Effectively manages poor performers.

Portfolio & Risk Management

• Manages the collection of a personal portfolio of consumer and mortgage loans through consistent written, verbal, and in person customer contact on a consistent time-line based procedure.

• Maintains accurate records of customer communications and ensures up-to-date contact information in the collections software.
• Achieves departmental delinquency and charge off goals by implementing effective collection and loss mitigation strategies.
• Minimizes losses through effective loss mitigation techniques and strategies.
• Identifies and recommends advanced collection activities as needed to protect the banks interests.

• Coordinates with internal and external auditors.
• Collaborates with internal departments to recommend and implement workflow improvements.
• Manages vendor relationships and ensure their compliance with applicable laws and regulations.
• Performs quarterly quality control reviews to ensure compliance.
• Reports collection activities to outside vendors such as Private Mortgage Insurance companies and the Government-Sponsored Enterprise (GSE’s).
• Manages foreclosures and bankruptcies.
• Recommends accounts non-accrual status or to be charged off.

Stakeholder Collaboration

• Manages relationships with third-party collection accounts and judgments.
• Monitors delinquent loans for property preservation.
• Maintains and updates collection procedure manual to remain complaint with applicable laws and regulations.
• Maintains and updates collection letters to remain complaint with applicable laws and regulations.
• Analyzes borrower financial statements to recommend and execute options such as loan modifications, short sales, and deed-in-lieu of foreclosures.
• Files claims and reimbursements from third-party vendors.

Other

• The role requires occasional travel for training and team meetings, and willingness to travel periodically, to locations within market as needed.
• May require work in a Midland office to ensure collaboration and support of internal and external customers.
• Maintain compliance with all applicable regulations including, but not limited to, the Bank Secrecy Act (BSA).
• Other duties as assigned.

Position Qualifications

Education/Experience:

• Bachelor’s degree in Finance, Business Administration or related field preferred.
• 5 years of experience in consumer and/or mortgage loan collections.
• Experience with Consumer Collections at a bank in excess of $10B in assets preferred.

• Minimum of two years of experience leading teams with demonstrated success coaching and motivating team members.
• Knowledge of Fair Debt Collection Protection Act required.
• Knowledge of GSE servicing required.
• Excellent oral, written, and interpersonal communication skills with the ability to instruct others, interpret documents, and write reports and correspondence.
• Excellent organizational and time management skills.
• Ability to deal with complex problems involving multiple facets and variables in non-standardized situations.

Competencies:

• Business insight
• Cultivates innovation
• Drives results
• Makes sound decisions
• Being a brand champion
• Collaborates
• Communicates effectively
• Customer focus
• Being Authentic
• Emotional Intelligence
• Self development
• Being flexible and adaptable

At Midland States Bank, we believe that when we can bring our whole selves to work each day, we become happier, more comfortable, more confident and more excited to do great things for our customers, each other and our company. We’re proud to be an Equal Opportunity and Affirmative Action employer. At Midland, we recruit, employ, train, compensate and promote without regard to race, color, religion, gender, gender identity or expression, sexual orientation, national origin, genetics, disability, age, or veteran status. If you are looking for a place to grow, we encourage you to apply at Midland States Bank, because you belong here.

If you require reasonable accommodation in completing this application, interviewing, completing any pre-employment testing, or otherwise participating in the employee selection process, please direct your inquiries to Midland States Bank Human Resources at HR@midlandsb.com.

THIS JOB DESCRIPTION DOES NOT CONSTITUTE A CONTRACT FOR EMPLOYMENT