Collections Manager

Introduction

Overview

The Collections Manager directs the collections activities of the credit union ensuring that strategic and departmental goals are achieved, delinquency ratio/metric are attained, and service to members is always maintained at the highest standards.

May be assigned to lead special projects and serve on various project teams to accomplish COFCU’s Strategic Goals.  The Collections Manager is responsible for the development, training, and retention of department staff. 

Responsibilities

COFCU Collections Activities:

• Meet monthly with Board Delinquent Account Committee.
• Maintain and prepare collection department reports and board reports.
• Manage collateral documentation and insurance.
• Act as liaison with credit union collection attorney, repossession agent, Bankruptcy courts and collections agencies.
• Attend auctions and negotiates prices.
• Monitor and report loan underwriting quality.
• Work closely with third party collection resource.
• Prepare Allowances for Loan Losses and presents to upper management on a monthly basis.
• Ensure the maintenance of all loan documents for Consumer, Real Estate and Participation Loans. Provide upper management with required information and calculations. 
• Prepare Home Value calculation for all home foreclosure Sales and present upper management with bids.
• Maintain all OREO properties.
• Monitor and review collection activities and make recommendations for policy changes to ensure compliance with applicable laws and regulations and minimize loss to the membership.

Operations and Compliance:

• Efficiently and effectively deliver member service in accordance with established credit union policies and standards.
• Ensure compliance with all applicable federal regulations, including the Bank Secrecy Act, Security and OFAC.
• Develop and monitor department budget.
• Provide timely reports to management.
• Inform management of any significant member/department concerns that arise. Provide well- thought out recommendations for improved efficiency or effectiveness in operations.

Staff Performance:

• Hold staff accountable for meeting individual performance goals.
• Address staff performance issues appropriately and timely.
• Ensure that Account Servicing staff is trained to meet member needs and skilled to meet credit union objectives.

Requirements

Education & Experience

• At least five years’ experience managing the collections department, preferably in a financial institution.
• Bachelor’s degree, preferred.
• Supervisory experience with skill in coaching and training staff to achieve high performance levels.

Knowledge

• Knowledge of laws and regulations concerning Bankruptcy laws, collections laws and title regulations
• Knowledge of credit union policies and procedures, preferred.

 
Skills and Abilities

• Experience using collections platforms and banking core systems.
• Strong organization skills with demonstrated ability to work on competing priorities.
• Ability to work independently and under pressure of deadline.
• Strong written, verbal and interpersonal communication skills.
• Proficient with Microsoft Office software and standard office equipment.
• Problem solving and decision making capabilities.
• Teambuilding and motivation skills.

Other Pertinent Information

• Regular and satisfactory attendance required.
• Must maintain an acceptable personal credit history and be bondable.