Collections Manager

BLACK HILLS FEDERAL CREDIT UNION•Rapid City, SD

5d•Onsite

About The Position

The Collections Manager oversees the operation and supervision of the Collections Department, ensuring its activities support organizational business goals and help maintain the financial health and stability of Black Hills Federal Credit Union. The role leads the collections team, develops strategies to minimize delinquencies and recover outstanding debts, monitors performance, and works with organizational leadership and third parties on effective recovery and risk-mitigation approaches. It also ensures collections activities comply with relevant laws, regulations, and policies. The manager analyzes collections data, identifies trends and risks, reports results to executive leadership, and recommends accounts for charge-off or additional monitoring. The position also contributes to department budgeting, policy updates, vendor and system coordination, and ongoing adjustment to regulatory changes. The role is based at the Corporate Office in Rapid City, South Dakota. Occasional travel to a branch or community event may be required. Work is primarily sedentary in an indoor, climate-controlled shared area, and may involve extended hours when required.

Requirements

Minimum five years of experience in a collections role, or more than five years of relevant experience in a related field with equivalent responsibilities.
Strong knowledge of regulatory requirements and compliance, and expert knowledge of laws and regulations affecting lending and collections.
Excellent leadership, communication, and analytical skills.
Ability to collaborate with leadership and cross-functional teams.
Strong written and verbal communication skills and expert conflict-resolution knowledge.
Advanced knowledge of organizational policies and procedures and the Credit Union's service philosophy, products, and services.
Expert knowledge of repossessions, bankruptcy accounts, and credit-counseling accounts.
Ability to counsel members and determine workable payment arrangements.
Knowledge of legal, insurance, regulatory, economic, competitive, and technology environments affecting collections operations.
Ability to understand and follow complex written and oral instructions; prepare and maintain confidential records and reports; and analyze statistics and financial data.
Ability to communicate professionally with staff and management at all levels, listen actively, and facilitate open dialogue.
Ability to manage challenging performance behaviors, accept and apply feedback, and support organizational change.
Ability to develop and write clear procedures and to coach, develop, and train staff.
Ability to manage multiple projects in a fast-paced, demanding environment and solve problems with attention to detail, professionalism, and accuracy.
Ability to work flexible hours and extended hours when required or requested by management.
Ability to read and interpret financial data, communicate verbally and in writing, and perform computer-related input.
Ability to perform primarily sedentary work with limited physical exertion, occasional lifting up to 10 pounds, and stair use in an emergency.
Ability to operate routine office equipment and work on a computer for an average of 6–8 hours per day when necessary.
Ability to work independently or as part of a team, handle changing priorities and deadline pressure, and exercise discretion with confidential matters.
Regular, reliable, and timely attendance.

Nice To Haves

Bachelor's degree in Finance, Business Administration, or a related field; preferred but not required.
Formal training complemented by ongoing professional development.
Advanced ability to handle high-conflict conversations with members and vendors.

Responsibilities

Supervise the day-to-day operations of the Collections Department.
Develop and implement collection strategies to reduce delinquency and recover outstanding debts.
Lead the collections team by setting expectations, supporting collaboration, and aligning team activities with strategic goals.
Implement and monitor processes to maximize productivity and ensure performance standards are met.
Review department and individual performance metrics, identify improvement areas, and recognize achievements.
Observe team members' work and provide constructive feedback, coaching, and professional development support.
Monitor collection activities and performance metrics and report regularly to executive leadership.
Ensure collection activities comply with applicable regulations, legal requirements, and policies.
Work with third parties, including legal resources, on recovery strategies and risk mitigation.
Recommend accounts for charge-off to the Asset Management Committee/ALCO and recommend at-risk loans for monitoring or preparation.
Prepare monthly charged-off loan payment reports for Management and the Board of Directors.
Conduct regular audits and reviews to assess compliance.
Analyze data to identify trends, risks, and opportunities, and use insights to refine strategies and improve outcomes.
Develop the department budget in alignment with the strategic plan and overall budget.
Review and update policies to support best practices, regulatory compliance, and appropriate risk tolerance.
Evaluate vendor performance and service delivery and maintain vendor relationships.
Collaborate with internal and external teams on system integration.
Monitor regulatory changes and adjust strategies accordingly.
Perform other duties as assigned.