What are the responsibilities and job description for the Collections Manager position at St. Mary's Bank?
St. Mary's Bank (SMB) is currently looking to fill a Collections Manager. As the Nation's First Credit Union, established in 1908, SMB takes pride in its heritage and is committed to the credit union philosophy of "people helping people." As a stable, solid financial institution, St. Mary's creates a work environment that rewards dedicated employees with benefits to help them achieve their personal and professional goals. Come join a GREAT team!
Under the direction of the Chief Lending Officer (CLO), the Collections Manager is responsible for minimizing losses to the Credit Union by managing and leading the day-to-day activities of the Credit Union's Collections staff. This includes the responsibilities for consumer, residential, and commercial asset management, collection, foreclosure, loan modification, workouts, bankruptcy, and collateral disposition.
Standards of Performance and Goals:
- Manage the daily activities of the collections staff for delinquent consumer, residential, and commercial loans.
- Ensure production and results on all past due account activity and offer staff coaching, training and development to accomplish department goals.
- Responsible for Asset Management including delinquent consumer, residential, and commercial loans, foreclosed properties, repossessed autos, loan modifications and workouts.
- Responsible to reduce the overall loss and exposure to all loans. Manage Other Real Estate Owned (OREO) properties and Other Property Owned (OPO).
- Chair the Loan Resolution Committee and represent collections as a member of the Credit Committee, and Management Loan Committee. Achieve high-level results from audits and examinations, ensuring regulations and compliance, at the state and federal level, reducing risk exposure to the Credit Union.
- Execute contracts and determine vendors for legal services deemed necessary for successful collection activities.
Qualifications:
- Bachelor's degree or equivalent work experience in the field of collections in a financial institution.
- Ten to fifteen years of consumer, residential, and commercial collections experience to include serviced loan portfolios and repayment arrangements associated with charge-offs that vary in size.
- Five years of managerial experience to include a demonstrated ability to build effective teams.
- Thorough knowledge of Fair Debt Collection Practices Act.
- Understanding of bankruptcy laws as they pertain to consumer and commercial obligations.
- Working knowledge of the state and federal credit union lending and collection laws, bylaws, and regulations.
- Excellent verbal and written communication skills as well as analytical skills.
