Collections Manager

Job Summary

Under the direction of the VP Consumer Lending protect and preserve TCU loan assets, of all product types, by managing delinquent accounts, collecting delinquent loan payments and recovering collateral; coaching, scheduling, training, supervising and supporting other collectors, and managing and disposing of repossessed or foreclosed collateral. All responsibilities are to be performed in compliance with TCU standard operating procedures, TCU policies, applicable state and Federal regulations and applicable state and federal law, as well as according to TCU’s Core Values and Performance Standards.

Essential Responsibilities

• Contact TCU members with delinquent loans to discuss payment obligations and available options for resolving the delinquent loan. Negotiate payment arrangements when appropriate.
• Coach, train supervise and support the work of Collectors. Ensure all collectors and 3rd party vendors are following policies and procedures in compliance with federal and state laws and regulatory requirements. Update management on needs to update policy and procedures.
• Prepare and send written correspondence to members regarding delinquent loans, including, but not limited to, delinquent notices, repossession, and foreclosure letters
• Record actions, conversations, and recommendations in the members’ collection record to ensure accurate and adequate information is always maintained.
• Update/code members’ accounts in to alert appropriate departments about loan and collection issues.
• Track and monitor bankruptcy filings, file proof of claims and supplemental forms. Assist outside counsel to draft and negotiate Re-Affirmation Agreements.
• Correspond with members who are seeking a loan modification. Gather supporting documentation and hold loan modification reviews with CLO, or designee.
• Notify co-signers regarding status of delinquent accounts.
• Prepare monthly reports and review all delinquent loans and collection activities with Lending management staff.
• Recommend when loan collateral should be repossessed or foreclosed and serve as a liaison with attorneys or vendors handling the repossession.
• Review all accounts that are to be written off as uncollectible and prepare report to be reviewed by the Board for approval.
• Respond to members’ credit report disputes on e-Oscar.
• Maintain the files, both paper and electronic, of delinquent members, including copies of legal documents and correspondence.
• Responsible for maintain collection software to ensure compliance and accuracy of data
• Timely completion of own performance evaluation, and review and submission of supervised employees’ evaluations.
• Other duties related to TCU’s operations or mission as assigned.

Required Experience & Skills

• At least five years of loan collections experience in collateral-backed financial services lending
• Experienced with secondary market and Fannie Mae guidelines
• Proficiency with Microsoft Office, or software, applications, and SaaS currently used by TCU and assigned to this position
• Can perform responsibilities accurately and timely with moderate and reasonable supervision, with minimal reminders and corrections
• Evident habits of organized workspace and materials, and detail-orientation
• Clear and effective written and oral communication
• Critical thinking to evaluate sources of information and draw conclusions

Required Education, Training, Certifications or Licensing

• High School diploma, GED or foreign country equivalent
• Continuing professional and regulatory training

Physical Requirements

The requirements below represent those that must be met by an employee to perform the essential functions of this job. Reasonable accommodations may be made to enable people with disabilities to perform the Essential Responsibilities and meet these Physical Requirements.

• Sit or stand for long periods of time, walk, talk and hear
• lift and/or move up to twenty pounds
• communicate orally, both over the phone and face-to-face, with members and vendors. view a computer monitor and use an alpha-numeric keyboard
• vision abilities required by this job include close vision, distance vision and color vision

Equal Employment Opportunity and Non-discrimination

Tremont Credit Union provides equal employment opportunities (EEO) to all employees and applicants for employment without regard to race, color, religion, sex (including pregnancy, gender identity, and sexual orientation), national origin, age (40 or older), disability or genetic information; in addition to (MGL C 151b) mental illness, retaliation and active military. Tremont Credit Union complies with applicable state and local laws governing nondiscrimination in employment in every location in which the company has facilities and to all terms and conditions of employment, including recruiting, hiring, placement, promotion, termination, layoff, recall, transfer, leaves of absence, compensation and training.