P1 Collections Team Lead

Truliant’s mission is to improve lives by putting our members first, providing great service and straightforward financial solutions. Our core values of Member Focus, Service, Guidance, Relationships, and Community define how we interact with members to fulfill our mission of improving lives and providing a foundation on which we conduct ourselves.

Our Promise to Our Teammates: Truliant strives to provide all teammates with an enjoyable place to work where they feel valued, empowered and rewarded for all that they do.

Purpose of the Job

The Collections Team Lead is responsible for overseeing the collections department, implementing effective collection and recovery strategies, and ensuring timely debt recovery processes. The Collections Team Lead provides leadership, develops strategies to improve collection rates as measured in numbers and dollars, monitors team performance, handles escalated issues, ensures compliance with regulations, and maintains positive customer relationships.

Essential Functions And Responsibilities

• Leads and manages the collections team, providing guidance, coaching, and support to ensure team success and performance targets are met.
• Develops and implement collection strategies to optimize debt recovery rates, minimize delinquency, and reduce bad debt write-offs.
• Analyzes and evaluate collection data, trends, and metrics to identify areas for improvement and implement corrective actions as needed.
• Monitors delinquent accounts and implement appropriate collection actions, including phone calls, emails, letters, and payment arrangements.
• Collaborates with other departments, such as underwriting and customer service, to resolve customer inquiries, disputes, and issues related to collections.
• Conducts regular performance reviews, set goals, and provide ongoing feedback to team members to drive continuous improvement and professional development.
• Ensures compliance with regulatory requirements, company policies, and industry standards in collections practices.
• Prepares and presents reports on collections activities, performance metrics, and key insights to senior management.
• Maintains confidentiality of client information and adhere to data protection policies and privacy standards.
• Meets individual and team targets for collections performance, including call volume, collections rates, and delinquency reduction.
• Follows established collections procedures and guidelines to ensure compliance with regulatory requirements and company policies.
  
  

Other Duties And Responsibilities

• Assists with other tasks and projects as assigned.
  
  

Knowledge, Skills, And Abilities

• Must have basic knowledge of Microsoft Office, Collection software and CRM software.
• Must have ability to understand all business processes within the credit union
• Must be resourceful and well organized, with strong attention to detail with a focus on accuracy and compliance.
• Good reasoning abilities and sound judgment required
• Must be able to work in a general office environment
• Must be flexible and able to shift resources and priorities as required
• Must have strong leadership and people management skills, with the ability to inspire and motivate a team.
• Must have excellent communication, negotiation, and problem-solving abilities.
• Must have an analytical mindset with the ability to interpret data and make data-driven decisions.
• Must be knowledgeable of regulatory requirements and best practices in collections
• Should become knowledgeable of P1 Finance’s best practices, policies, and procedures while demonstrating a strong commitment to providing excellent service to Truliant’s members.
  
  

Physical Requirements

• Occasional standing, walking, bending, and stooping required
• Must be able to sit at a desk for long periods of time and use a computer
• Must be able to moderately lift or move up to 5 pounds and occasionally lift or move up to 10 pounds
  
  

Education and Background

• High school diploma or equivalent required
• Associate’s or Bachelor's degree in Business Administration, Finance, or related field preferred
• Knowledge of applicable laws and regulations related to collections and premium finance (e.g., Fair Debt Collection Practices Act) required
• Previous collections experience required preferably in the financial services industry
  
  

If you have a passion for member service and would like to invest in a meaningful career with opportunity for growth, we encourage you to apply to Truliant!

As a member of the Truliant family, you will enjoy the following full time benefits:

• No-cost employee Medical, dental, vision coverage
• Prescription benefits (including mail order)
• Paid holidays and Paid Time Off (PTO)
• 401(k) plan with contribution matching
• Paid community involvement volunteers hours
• Paid group life Insurance
• Teammate loan discounts
• Tuition reimbursement
• Short and long-term disability
• Health & Wellness program
• Teledoc (physician video conferencing)
• Onsite fitness facilities or health club reimbursement
• Employee Assistance Program (EAP)
• Medical flexible spending account
• Dependent care flexible spending account