Collections and Recovery Manager

Argent Federal Credit Union • VA

90d

About The Position

The purpose of this role is to organize, plan, and direct collection activities for the credit union. Ensures services are delivered professionally and efficiently. Protect the assets of the credit union by overseeing the collection process and actions taken by the Collections staff; achieve target delinquency goals with lowest possible loss ratios and minimal risks.

Responsibilities

• 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 makes recommendations as needed.
• Ensures established policies, procedures, and legal requirements are followed.
• Coordinates activities, ensuring that all subordinate areas of responsibility support credit union objectives.
• Provides exceptional service to both members and internal customers as well as build good relationships with external vendors and partners performing functions on behalf of the credit union.
• Monitors and reports on departmental performance against operational goals and objectives.
• Prepares periodic reports on collection activities plus any additional reports and analysis required by management.
• Monitors department workflow and advises VP Loan Administration of existing or anticipated problems.
• Provides suggestions for improved service delivery.
• Seeks new methods to accomplish department functions.
• Responds to issues raised in collection audits or examinations.
• Actively participates in managing vendor relationships, including outside collection agencies, attorneys, auctions, recovery firms, software providers and insurance carriers.
• Directs efforts of the credit union in legal foreclosure and/or repossession of collateral.
• Represents or directs subordinates appearing on behalf of the credit union in small claims court and/or district court.
• Works with difficult borrowers to reach suitable arrangements to restore accounts to current status.
• Reviews charged-off loan files to identify red flags and common trends.
• Ensures all collection activity is documented clearly, accurately, and in a timely manner.
• Performs miscellaneous collection functions as required to include the duties of direct reports.
• Ensures financial security by following internal controls and maintains confidentiality at all times.
• Develops staff for career progression with regularly scheduled coaching sessions.
• Conducts timely and constructive performance evaluations, providing recommendations for career development, promotion, and/or salary adjustment as appropriate.
• Complies with all federal and state laws, as well as organizational policies, procedures, and processes.
• Actively participates in all branch and staff meetings.
• Works to increase knowledge, technical skills and professional development through available internal and external sources.
• Works as a member of the Argent Credit Union team to ensure achievement of the credit union’s mission and goals.
• Maintains a professional work environment and businesslike appearance.
• Perform additional duties and responsibilities as deemed appropriate.

What This Job Offers