- Maintain an efficient and effective collection process.
- Manage the production and results of collection staff, including monitoring all past due accounts and reporting via multiple software systems such as Excel and other reporting software.
- Ensure all collection activities, including collateral repossession, mortgage foreclosure, liquidation, and subsequent charge-off processes, meet credit union, state, and federal lending regulations.
- Provides effective leadership to include staff recognition, staffing efficiency, effective peer interaction, timely employee reviews, conflict resolution and leading by example. Proactively trains and develops staff in order to attract and retain high performing collections department staff.
- Set departmental goals and establish performance minimums, monitoring personnel production by tracking goals on a daily/monthly basis.
- Stay current on collection industry technology, trends, regulations, and best practices.
- Evaluate the effectiveness of current procedures, develop and recommend changes, and implement changes in the collection department.
- Collaborate and work with other areas within the credit union to establish practices and procedures to accomplish the credit union's mission.
- Represent the credit union in small claims, municipal, and bankruptcy courts.
- Assist in preparing the Allowance for Loan and Lease Losses.
- Establish and maintain critical vendor relationships, tracking performance and performing annual vendor due diligence.
- Monitor and track collection trends.
- Perform other collection, risk, or credit union-related duties as assigned or needed for the benefit of the credit union, the collection or risk departments, or assist in such tasks as deemed appropriate, including handling escalated collection calls.
- Must be able to work in a time sensitive environment, making sound decisions, and effectively communicating these decisions to members as well as internal staff.
- Maintain knowledge of branch operations by completing Deposit Regulation and Product and Service Certification courses.
- Proactively demonstrate the TVFCU core values of integrity, honesty, flexibility, teamwork, leadership, accountability, and strong relationships in every interaction with members.
- Perform other duties as assigned.
- Bachelor's degree in a related field preferred, but may be substituted by extensive related experience.
- A minimum of 5 years of successful experience supervising and coaching direct reports, along with similar or related experience in a consumer, mortgage and commercial collections department within a financial institution.
- Strong knowledge of collection, repossession, and credit reporting laws and requirements with a knowledge of Tennessee law preferred. Knowledge of the Current Expected Credit Loss standard preferred.
- Preferred experience with selecting, launching and administration of collection platforms.
- Preferred experience with loan origination, underwriting and processing in financial institutions.
- Excellent communication and organizational skills.
- Proficiency in collection platforms, customer relationship management (CRM) systems, or reporting software.
- Strong understanding of compliance and risk management principles, especially regarding collection laws and regulations.
- Analytical skills for evaluating collection trends, identifying process improvements, and recommending changes.
- Experience with key performance indicators (KPIs) or metrics monitoring and achievement.
- Verification of education, employment and other pertinent data included on your employment application, and eligibility to work in United States.
- Criminal background check and drug screening.
- Pre-employment credit check required
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Collections Manager - Chattanooga, United States - TENNESSEE VALLEY FEDERAL CREDIT UNI
Description
Job DetailsJob Location
Corporate Headquarters - Chattanooga, TN
Position Type
Full Time
Education Level
4 Year Degree
Job Category
Banking
Description
Job Summary:
The Collections Manager is responsible for leading a team of collectors to ensure the effective and timely review and resolution of past due consumer, mortgage, and commercial accounts. This role plays a crucial part in protecting the credit union's assets, financial interest, and reputation. The Collections Manager will take a proactive approach to identify solutions for past due accounts that benefit both the borrower and the credit union. In cases where no resolution can be reached, the Collections Manager will oversee foreclosure and repossession processes to a successful conclusion. Additionally, the Collections Manager will collaborate with others to review, structure, and recommend appropriate loan modification and workout requests. Motivating staff daily to achieve goals through productivity, accuracy, and efficiency is also a key aspect of this role.
ESSENTIAL DUTIES AND RESPONSIBILITIES:
EDUCATIONAL AND WORK EXPERIENCE REQUIREMENTS:
