What are the responsibilities and job description for the AVP of Account Resolutions position at UNIVERSITY CREDIT UNION?
Job Details
Job Location: Remote USA - Remote, CA
Salary Range: $96000.00 - $120000.00 Salary/year
Description
JOB SUMMARY
Delivers on University Credit Union’s core purpose of giving the University Community a financial advantage by building and nurturing relationships and programs within designated authority. Responsible for contributing to the team’s overall success by achieving negotiated personal service, collections activity, and delinquency goals. Responsible for organizing, planning, directing, and controlling all operations of the Account Resolution Department. Oversees all collections functions including the control of loan and credit accounts that are late, potentially delinquent, delinquent, or charged off. Assists in the resolution of difficult and complex member account situations. Responsible for collateral, repossessions, and the disposition of repossessed Credit Union assets. Performs periodic evaluation of collections policies and procedures and modifies as needed. Ensures that established policies, procedures, and legal requirements are followed. Coordinates activities, ensuring that all subordinate areas of responsibility support Credit Union objectives. Trains, directs, and appraises personnel. Ensures that services are delivered professionally and efficiently.
LOCATION
We are passionate about attracting great talent to our team, so this position will be a hybrid arrangement with travel expectations to designated university partners and CU locations.
ABOUT UNIVERSITY CREDIT UNION
University Credit Union (UCU) is a purpose-driven financial cooperative dedicated to providing everyone in the university community a financial advantage.
UCU was founded in 1951, on-campus, by a group of UCLA employees. Over 70 years later, we continue to exclusively serve the university community and have expanded our reach beyond UCLA. We continue to align ourselves with universities and have expanded our reach to numerous universities across California, the West Coast Conference, and the Big West Conference.
UCU’s focus has been diversifying and building a foundation for future growth. By partnering with the university community, we can provide products and services tailored to their unique needs. To best serve our member-owners, UCU delivers on our purpose, to give every member in the university community a financial advantage, by following our three key differentiators:
o We were founded by the University Community for the University Community
o We provide conflict-free unbiased financial advice from certified professional coaches.
o the top 1% lowest nationwide of all federally insured financial institutions.
KEY DUTIES AND RESPONSIBILITIES
1. Assumes responsibility for the development and implementation of Account Resolution Department policies, procedures, and planning.
a. Assists the VP Lending in developing short and long-term goals and plans to include (but not all inclusive): department operational budget, allowance for loan loss, process improvements, and delinquency forecast by product category.
b. Executes established operational goals and ensures that corporate-wide plans are complemented and supported.
c. Assists in developing Department policies and procedures. Conducts periodic reviews of existing policies and procedures to ensure maximum efficiency and service delivery.
2. Assumes responsibility for the effective and efficient administration and performance of Collections functions.
a. Monitors and evaluates work quality, efficiency, and productivity. Provides suggestions for improved service delivery. Seeks new methods to accomplish Department functions.
b. Ensures that collections functions are completed in accordance with established Credit Union policies and procedures and applicable legal requirements. Ensures that confidentiality is maintained.
c. Directs, coordinates, and schedules work.
d. Provides assistance with complex and sensitive collections activities.
e. Ensures that supply and equipment needs are met.
f. Oversees charge-offs, repossessions, foreclosures, and various court collections actions. Makes recommendations for action.
g. Ensures that properties are appropriately maintained and that Credit Union assets are protected.
h. Ensures that collections actions are thoroughly documented. Ensures accurate accounting for and collection of accounts that are charged off.
i. Performs miscellaneous collections functions as required to include both Account Resolution Specialist and Senior Account Resolution Specialist duties.
j. Maintains working knowledge of regulatory compliance related to member services and financial services area to include (but not limited to): BSA reporting requirements, OFAC, USA Patriot ACT, Red Flags, Regulation CC, Regulation D, Regulation E, Truth in Savings, Truth in Lending, Privacy, etc.
3. Assumes responsibility for ensuring that professional business relationships are established and maintained with members, the community, and with trade and governmental organizations.
a. Represents the Credit Union in contacts with members and trade or governmental professionals.
b. Ensures that requests, questions, and problems are courteously and professionally resolved. Ensures that communications are effective and efficient.
c. Works with difficult or delinquent borrowers to reach suitable arrangements to restore accounts to current status. Utilizes effective human relations skills and persuasion to calm irate members and resolve negative situations. Discusses possible financial arrangements, informs members of possible legal actions, and provides or suggests financial counseling as means to arrive at suitable payment arrangements.
d. Ensures that the Credit Union's professional reputation is maintained. Keeps members informed of Credit Union services and policies. Actively supports UCU core values, mission and vision statements, and demonstrates commitment to member service and UCU organizational success.
4. Effectively supervises Department personnel, ensuring optimal performance.
a. Provides leadership to personnel through effective objective setting, delegation, and communication. Conducts staff meetings as required. Informs personnel of policy, procedural, and legal changes. Discusses areas needing improvements.
b. Ensures that personnel are well trained, effective, and optimally used. Identifies training needs and develops and implements appropriate training programs. Conducts training sessions and cross-trains as appropriate.
c. Conducts performance appraisals as required in coordination with VP Lending and VP Administration. Formulates and implements corrective actions as needed.
d. Ensures that staffing levels are appropriate. Interviews, hires, and assigns personnel.
e. Assists, supports, and serves personnel as needed.
5. Assumes responsibility for establishing and maintaining effective communication and coordination with Credit Union personnel and with management.
a. Assists, serves, and informs branches and related departments as needed.
b. Coordinates collections efforts with related departments.
c. Keeps the VP Lending informed of area operations and of any significant problems. Provides recommendations to improve collections processes and effectiveness and ensure the integrity of Department processes.
d. Completes required reports, records, and other documentation as required.
e. Ensures effective and efficient internal communication.
f. Attends and participates in meetings and committees as required.
6. Assumes responsibility for related duties as required or assigned.
a. Ensures that changes in legal requirements and government regulations are integrated into current practices.
b. Stays informed regarding changes in collections practices and trends.
c. Ensures that work area is clean, secure, and well maintained.
d. Completes special projects as assigned.
Qualifications
KNOWLEDGE & SKILLS
EDUCATION/CERTIFICATION: Bachelor’s degree in finance, accounting, or a related area, or equivalent; specialized
banking or credit union education and training in a Collection environment required. Credit & Collections Compliance Professional (CCCP) or similar designation required (or earned within 6 months of hire).
REQUIRED KNOWLEDGE: Thorough knowledge of collections, servicing, foreclosure, bankruptcy procedures, and legal requirements.
Understanding of Credit Union lending programs, policies, and default enforcement clauses.
Intermediate expertise in Microsoft Word, Excel, PowerPoint and Outlook.
EXPERIENCE REQUIRED: Five to seven years of progressive collections experience. Supervisory experience in a Collections Department preferred.
SKILLS/ABILITIES: Excellent communication and public relations skills.
Ability to work in stressful, high pressure situations.
Solid analytical and negotiating skills.
Strong leadership and supervisory abilities.
Strong management skills.
Able to operate computer calculations and other basic business equipment.
Team UCU Benefits:
Investing in people is one of UCU’s strategic priorities and we invest in Team UCU by offering a variety of excellent benefits, in addition to being a great team to work with:
Competitive compensation
Work from anywhere options for select positions.
A full 401(k) match up to 6% plus a potential additional annual profit share of up to 4%
Quarterly Gain Share awards, subject to meeting certain organization goals, with a payout of up to 10% of earnings
Employee loan discounts
Generous paid vacation, plus accrual of paid sick time, and additional discretionary floating and cultural holidays
12 paid Holidays
Personal growth development plans tailored to each member of Team UCU
Choice of medical, dental, and vision plans, including some options that are 100% paid for by the Credit Union.
Complementary Basic Life and Accidental Death and Dismemberment Insurance
Complementary long-term and short-term disability insurance and Employee Assistance Program
Salary : $96,000 - $120,000
