Carrier Returns and Collections Manager

Truist Bank•Lake Forest, IL

41d•Onsite

About The Position

Responsible for overall management of divisional collection activities for all Truist Premium Finance locations in the United States. The position involves directing all divisional collection activities to maximize collection of delinquent accounts, recoveries, and minimize loan losses. It also includes overseeing the servicing and collection of new bankruptcy cases to ensure legal compliance and preserve collateral, identifying accounts requiring legal collection action, and coordinating with outside legal counsel. The role requires directing urgent reviews of suspicious agency activity, including portfolio audits, and concluding reviews with recommendations to senior management. Additionally, it involves reviewing loan write-offs to ensure all possible collection actions have been exhausted and identifying procedural errors, serving as a company representative on collection cases to review and sign legal affidavits and court motions, and acting as a line of business (LOB) representative at arbitrations and court hearings. The manager ensures the implementation of collection procedures, provides direction to divisional collections managers for collecting delinquent balances on cancelled accounts, and establishes measurable goals and objectives related to collection activities as part of the performance management process. Daily interaction with divisional collections staff, special collection analysts, internal and outside legal, operations, and sales/marketing is required to coordinate collection activities and enlist assistance while remaining sensitive to marketing considerations and agent relationships. The role involves advising senior management of developing trends and collection problems affecting the company's accounts receivable portfolio, preparing reports summarizing the cancelled loan portfolio and aging, and assisting the finance team in monthly calculations of manual charge-off activity. Ensuring timely performance reviews, coaching, and counseling in accordance with corporate policies and procedures is also a key responsibility. The position serves as the LOB Vendor Manager for outside collection agencies and assists staff in resolving complex or out-of-policy operational problems that lead to collection issues. Coordination with Human Systems for appropriate staffing levels and processing of related paperwork is also required.

Requirements

Bachelor's degree in Accounting, Business or related field, or equivalent education and related training
Ten years of experience in financial services industry
Excellent analytical, verbal, written, interpersonal and problem-solving skills
Excellent time management and organizational skills
Ability to interact in a positive manner with all levels within the organization, including Executive Management
Experience in managing personnel, financial and physical resources
Demonstrated proficiency in basic computer applications, such as Microsoft Office software products
Strong understanding of loan processing, operations, risk management and legal structuring of loan transactions
Ability to travel, occasionally overnight

Nice To Haves

Master's degree or equivalent
Experience in the premium finance and insurance industries

Responsibilities

Direct all divisional collection activities to maximize collection of delinquent accounts, recoveries and minimize loan losses.
Oversee the servicing and collection of new bankruptcy cases to insure legal compliance and preserve collateral.
Identify accounts requiring legal collection action and coordinate all aspects of collection activity with outside legal counsel.
Direct the urgent review of suspicious agency activity including portfolio audits. Conclude review with recommendation to senior management on needed action.
Review loan write-offs to ensure all possible collection action have been exhausted and identify any procedural errors that contributed to the loan loss.
Serve as company representative on collection cases to review and sign legal affidavits and court motions prior to filing, and line of business (LOB) representative at arbitrations and court hearings.
Ensure implementation of collection procedures and provide direction to divisional collections managers for the collection of delinquent balances on cancelled accounts.
Establish, as part of performance management process, measurable goals and objectives related to collection activities and communicate those to staff.
Interact daily with divisional collections staff, special collection analyst, internal and outside legal, operations and sales/ marketing to coordinate collection activities; enlist assistance of appropriate associates in collecting amounts due while remaining sensitive to marketing considerations and agent relationships.
Advise senior management of developing trends and collection problems which may affect the accounts receivable portfolio of the company.
Prepare reports summarizing cancelled loan portfolio and aging and assist finance team in the monthly calculation of manual charge off activity.
Ensure that performance reviews, coaching and counseling are handled timely and in accordance with established corporate policies and procedures.
Serve as the LOB Vendor Manager of outside collection agencies.
Assist staff to resolve complex or out of policy operational problems resulting in collection problems.
Coordinate with Human Systems for appropriate staffing levels, as well as processing of Human Systems-related paperwork.