COLLECTIONS MANAGER
About The Position
Walden Savings Bank is seeking an experienced Collections Manager to join their team. This role is an opportunity for a collaborative banking professional to play a key role in protecting the Bank's asset quality while preparing for future leadership opportunities within the Credit Recovery function. Working under the guidance of the Loss Mitigation & Credit Recovery Manager, and in close partnership with the Senior Vice President & Chief Financial Officer, the Collections Manager will help lead the Credit Recovery department, oversee complex collection activities, and contribute to the continued evolution of the Bank's risk management and recovery strategies. This position offers the opportunity to develop deep institutional knowledge, expand leadership responsibilities, and serve as an integral part of the Bank's long-term talent and succession planning.
Requirements
- 5- to 10- years of related experience, such as working with legal collections, bankruptcy, foreclosure, and workout loans.
- Familiarity with banking regulations and collection compliance requirements.
- Experience with underwriting and MI guidelines required.
- Prior supervisory/management experience required.
- Valid driver’s license.
Nice To Haves
- Bachelor’s degree preferred.
Responsibilities
- Assist with the daily operations of the Bank's collection and asset recovery activities, including delinquency management, customer outreach, payment negotiations, account documentation, legal notices, suspense account monitoring, charge-offs, REO oversight, and collection agency coordination.
- Co-manage foreclosure, bankruptcy, loss mitigation, and recovery efforts while ensuring timely and effective resolution of delinquent accounts.
- Monitor portfolio performance by analyzing delinquency trends, projected losses, non-performing assets, and charge-offs.
- Evaluate borrower requests for loss mitigation assistance, including loan modifications and repayment alternatives, while ensuring compliance with investor guidelines and regulatory requirements.
- Serve as the primary liaison between borrowers, legal counsel, investors, and internal business partners throughout the workout and recovery process.
- Ensure compliance with all applicable federal and state regulations, investor requirements, and internal controls, including TILA, ECOA, FCRA, SOX, Freddie Mac servicing requirements, and other regulatory standards.
- Assist in developing departmental budgets, goals, policies, and procedures.
- Identify opportunities to improve operational efficiency, strengthen internal controls, enhance customer service, and streamline collection and recovery processes through continuous improvement initiatives.
- Foster a collaborative, customer-focused culture while ensuring the department operates efficiently and effectively.
- Partner closely with Finance and Lending to support the Bank's asset quality objectives and risk management initiatives.
- Participate in management, collection, audit, and committee meetings, providing subject matter expertise and strategic recommendations.
Benefits
- Comprehensive Medical, Dental, Vision, and supplemental health options
- Benefits available for both Full-Time and Part-Time employees
- 401(k) with employer match
- Tuition assistance for up to $5,250 annually
- Paid time off, holidays, and flexible schedules (based on position)
- Performance-based pay increases and employee recognition programs
- Free checking account, loan discounts, and other financial perks
- Dress Down Fridays and a fun, inclusive work environment
- Opportunities to give back through our Community Service Program
- Ongoing mentorship, cross-training, and career advancement support
- Long-term disability, life insurance
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What This Job Offers
Job Type
Full-time
Career Level
Manager
