Collections Manager

Hanscom Federal Credit Union•Littleton, MA

9d•$81,381 - $101,726•Hybrid

About The Position

It’s an exciting time to be at Hanscom Federal Credit Union! As a member of our Collections Department, you will join a dynamic team of purpose-driven individuals committed to delivering exceptional service to our members. Hanscom Federal Credit Union values members-first, integrity, teamwork, innovation, and empathy. We make business decisions with our members at the top of mind, are honest and committed to doing what’s best for our members and our company, believe we are in this together and all benefit from our success, identify new ideas for processes or products that will lead to positive changes and take the initiative to implement the changes, and understand that communication starts by listening, understanding diverse perspectives, and caring about others’ sustained success.

Requirements

5 - 8 years of progressive collections experience within a financial institution.
Minimum 3–5 years of management or supervisory experience.
Experience managing consumer, mortgage, and commercial collections.
Experience with bankruptcies, foreclosures, repossessions, commercial workouts, and loan modifications.
Must be authorized to work in the US

Nice To Haves

Experience with SBA workout and liquidation SOPs preferred.

Responsibilities

Direct collection efforts for consumer, residential and commercial loan delinquency.
Develop collection strategies for early-stage, mid-stage, and late-stage delinquencies.
Monitor delinquency trends and implement proactive loss mitigation initiatives.
Oversee repossessions, bankruptcies, skip tracing, recoveries, and charge-off activities.
Ensure consistent application of hardship programs, payment arrangements, and settlement guidelines.
Oversee loss mitigation programs, repayment plans, loan modifications, forbearance agreements, and foreclosure alternatives.
Coordinate with legal counsel, foreclosure attorneys, investors, and other servicing vendors.
Monitor repossession and foreclosure timelines and minimize credit losses.
Evaluate borrower financial information and collateral positions for commercial loan workouts.
Recommend restructures, renewals, modifications, settlements, or legal actions.
Researches, responds and tracks member complaints related to Collections.
Create and updates policies and procedures.
Administrator for the collections software system. Monitors for any problems, issues or enhancements and verifies reliability.
Ensure adherence to Credit Union policies and internal controls.
Support internal audits, regulatory examinations, and external audits.
Prepare all weekly, monthly, and quarterly reports and present them to senior management.
Lead, coach, and develop a high-performing collections team.
Set staff goals, monitor progress and direct the workflow of the department to ensure standards are met.
Establish performance expectations, productivity metrics, and service standards.
Conduct performance evaluations, employee development planning, and monthly 1:1s.
Foster a culture focused on member solutions, accountability, compliance, and continuous improvement.
Manage employee schedules as well as time off requests.