Debt Resolution Manager

Description

To preserve the Credit Union's assets by controlling delinquent accounts, collecting delinquent loan payments and/or recovering collateral; scheduling, training, and monitoring the work of employees in the department;  disposing of repossessed collateral.   

-Establishes and maintains effective collection procedures on loan accounts that are late, potentially delinquent, and previously charged off.

-Oversees and monitors the work of employees in the department:  conducts performance reviews; allocates resources to meet operational needs; reviews and approves, denies, or modifies department recommendations from Team members.

-Analyzes financial situations of delinquent borrowers to recommend potential solutions; takes action to repossess collateral when arrangements to bring loan current are unsuccessful.

-Responsible for the proper legal repossession of collateral securing a delinquent loan and for the legal disposition of that collateral, including the consideration of additional investment to be made in the collateral to maximize return. 

-Determines that delinquency notices are mailed promptly after due date and that an adequate follow up program is maintained.  

-Works with attorneys, 3rd party collection agencies and "credit repair" companies and takes appropriate action to arrange a satisfactory settlement of delinquent accounts.

-Prepares a list of accounts to be charged off monthly.

-Reviews and recommends accounts that require legal action.

-Gives information on delinquent accounts to Leadership Team.

-Oversees training of new employees in all department operations/procedures.

-Testifies at legal proceedings as required.

-Performs other job related duties as assigned.  

Requirements

8-10 years similar or related experience

(1) A two year college degree or (2) Completion of a specialized course of study at a business or trade school or (3) Completion of a specialized and extensive in-house training or apprenticeship program.  

A significant level of trust and diplomacy is required, in addition to normal courtesy and tact.  Work involves extensive personal contact with others and is usually of a personal or sensitive nature.  Work may involve motivating, influencing or training others.  Outside contacts become important and fostering sound relationships with other entities (companies and/or individuals) becomes necessary and often requires the ability to influence and/or sell ideas and services to others.  

-Maintain a cohesive, highly trained, motivated staff sufficient to meet daily department demands.

-Maximize the collection and/or recovery of Credit Union assets from delinquent and charged off accounts.

-Ensure all collection activity meets regulatory requirements and follows credit union policy, keeping the Leadership Team informed of operational issues affecting the credit union's collection activities.  

-Provide professional, timely and accurate services and support to all Team members and members.

-Develop recommendations for cost efficiencies and enhancements to policies, procedures, and processes by monitoring trends in collections.

-Note observations of employee performance.  Give and receive feedback from Team members, completing performance reviews within the prescribed time frame.