Collections Department Lead

Beacon Credit Union • Lynchburg, VA

23h

About The Position

The primary purpose of this position is to assist Beacon Credit Union to live out our mission, "Dedicated to Our Member's Financial Success." The Collections Lead is responsible for overseeing advanced collection activities, guiding team members, and managing complex accounts involving bankruptcy, loan restructuring, and collateral recovery. This role requires strong analytical skills, sound judgment, and the ability to navigate sensitive financial situations while maintaining compliance with internal policies and regulatory standards.

Requirements

• 2–4 years of experience in collections, loan servicing, bankruptcy processing, repossession coordination, or related financial services roles.
• Demonstrated knowledge of bankruptcy chapters, timelines, and creditor rights.
• Experience with loan restructuring, extensions, and workout solutions.
• Familiarity with repossession procedures, collateral valuation, and UCC requirements.
• Strong communication, negotiation, and problem-solving skills.
• Ability to interpret financial statements, payment histories, and legal documents.
• High attention to detail with strong organizational and documentation skills.
• Ability to work independently while supporting team goals
• Previous collection experience required.
• Associate degree in related Banking, Business or Accounting field or Certification in Collections or Financial Counseling course.

Nice To Haves

• Prior experience in a credit union, bank, or lending institution.
• Working knowledge of collection systems and bankruptcy tracking tools.
• Leadership experience or the ability to mentor and support junior staff.

Responsibilities

• Serve as the primary point of contact to the Assistant Vice President of Credit Solutions for recommendation of complex or escalated accounts, including bankruptcies, restructures, charge offs, and repossessions.
• Review, analyze, and manage accounts in active bankruptcy (Ch. 7, 11, 13), ensuring accurate documentation, timely filings, and compliance with all legal requirements.
• Evaluate member financial situations to recommend and structure appropriate workout solutions, extensions, or repayment plans.
• Oversee repossession processes from assignment through liquidation, ensuring adherence to UCC guidelines and maximizing recovery value.
• Provide guidance and support to collection staff on procedures, best practices, and regulatory compliance.
• Monitor delinquency trends and assist in developing strategies to reduce past due accounts and mitigate loss exposure.
• Prepare and present reports on high-risk accounts, bankruptcy activity, and recovery outcomes to the Assistant Vice President of Credit Solutions.
• Maintain strong working relationships with attorneys, trustees, vendors, and internal departments to support efficient resolution of accounts.
• Ensure all collection activities are conducted professionally, ethically, and in alignment with organizational standards.

What This Job Offers

• Job Type: Full-time
• Career Level: Mid Level
• Education Level: Associate degree
• Number of Employees: 1-10 employees