Credit Union Collections & Risk Manager

First Northern Credit Union•Chicago, IL

7d•$75,100 - $79,815•Onsite

About The Position

First Northern Credit Union is seeking a Risk Mitigation Manager, also known as a Collections & Risk Manager, to oversee its Risk Management Department at the Chicago-Loop (Monroe Street) office. The department covers loan collections, collateral protection, negative shares, fraud prevention and resolution, credit loss estimation, and insurance-related programs. The credit union serves employees and students of ComEd/Exelon, Constellation, Northwestern Medicine, and Northwestern University, as well as members in a 14-county community charter that includes Evanston and Rockford. The manager supervises a Collector and a Loan Servicing Representative and oversees collections, fraud resolution, insurance programs, portfolio risk monitoring, and the department's CECL methodology and reporting. The role also includes staff coaching, policy and procedure development, compliance monitoring, auditing and reporting support, and member service. The position is in person at the Chicago office, Monday through Friday, 7:45 a.m. to 4:45 p.m., for 40 hours per week.

Requirements

Bachelor's degree.
At least 3 years of experience in collections, fraud, and/or risk management.
Solid computer, analytical, math, and communication skills.

Nice To Haves

Management experience is preferred.
Bilingual English/Spanish is a plus.

Responsibilities

Supervise and manage a Collector and a Loan Servicing Representative.
Oversee applicable Automatic Call Distribution (ACD) workgroups and provide resolution management for member service calls.
Supervise loan collections and ensure collection activity follows current policies and procedures.
Prepare monthly delinquency and loan loss reports.
Administer bankruptcy and workout activities on accounts in a timely and consistent manner; manage legal counsel for account litigation and coordinate with trustees.
Manage negative-share collection queues and charge off approved negative shares according to policy and procedures.
Manage collateral and mortgage protection (CPI/MPI) programs to ensure proper insurance coverage and minimize collateral-related losses.
Lead fraud resolution, including investigation, recovery, and member communication, for new memberships and newly opened savings and loan products, including indirect vehicle loans.
Implement and monitor fraud mitigation strategies to reduce identity theft and account takeover risks.
Manage the credit union's Current Expected Credit Losses (CECL) methodology, assumptions, modeling, and reporting.
Use software to monitor loan portfolio performance and trends, identify emerging risks, and recommend corrective actions.
Manage processing and reconciliation of insurance refunds related to chargebacks and back-end refunds related to loan payoffs, charge-offs, or early terminations.
Lead special or ongoing projects important to departmental development.
Stay current on governmental regulations related to loan servicing repayment compliance, collections, member information, and record retention.
Explain financial products and services to members, evaluate their needs, and recommend available credit union options.
Evaluate staff performance and provide feedback and coaching.
Develop, implement, and maintain department procedures and policies.
Assist with auditing and reporting functions.
Multi-task and receive, assign, or complete work through online, telephone, in-person, mail, fax, and other channels.
Maintain a thorough working knowledge of credit union history and philosophy, policies, and procedures.