Financial Assistance Manager (Collections)

ARISE FEDERAL CREDIT UNION•Canton, MA

8d•$82,000 - $88,000•Hybrid

About The Position

As the Financial Assistance Manager, you’ll lead the day-to-day operations of the Financial Assistance department, overseeing delinquency, collections, loss mitigation, bankruptcy, foreclosure, repossession, and related activities. You’ll balance sound risk management and regulatory compliance with a thoughtful, member-focused approach to resolving complex financial situations. This role combines people leadership, portfolio management, operational oversight, and strategic problem-solving. You’ll develop your team, monitor performance and risk, partner with internal and external stakeholders, and identify opportunities to strengthen processes and improve outcomes for both members and the Credit Union.

Requirements

5+ years of experience leading, coaching, and developing employees, with demonstrated accountability for team performance and results.
Credit union, banking, or financial services experience strongly preferred.
Strong knowledge of collections, delinquency management, loss mitigation, bankruptcy, foreclosure, repossession, and credit reporting.
Understanding of applicable federal and state requirements, including FDCPA and Massachusetts regulations, as well as requirements governing loss mitigation, bankruptcy, foreclosure, repossession, and credit reporting.
Experience analyzing portfolio and operational data to identify trends, assess risk, and improve performance.
Strong understanding of credit, risk assessment, internal controls, and member-focused collections practices.
Advanced proficiency with Microsoft Office, particularly Excel, Word, Teams, and Outlook.
Strong communication, organizational, analytical, and relationship-building skills.
Ability to navigate sensitive and complex situations with sound judgment, professionalism, and empathy.
Ability to manage competing priorities in a fast-paced, highly regulated environment.

Responsibilities

Lead and develop the Financial Assistance team, including hiring, onboarding, coaching, performance management, scheduling, and workload distribution.
Oversee daily operations across delinquency, collections, loss mitigation, bankruptcy, foreclosure, repossession, credit reporting, and related queues.
Develop and oversee collections and loss mitigation strategies that support effective delinquency resolution, recoveries, and appropriate member outcomes.
Provide oversight of loan workouts, payment arrangements, modifications, forbearance, and other approved loss mitigation solutions.
Oversee bankruptcy, foreclosure, and repossession activities, ensuring appropriate documentation, timelines, vendor coordination, and escalation processes.
Monitor portfolio performance, delinquency trends, recoveries, and operational results and use data to identify risks and opportunities.
Prepare operational, portfolio, and risk reporting for senior leadership, auditors, vendors, investors, and the Board of Directors.
Ensure department activities comply with applicable federal and state requirements, Credit Union policies, investor requirements, and internal controls.
Serve as an escalation point for complex or high-risk member situations and collaborate with members, vendors, investors, attorneys, trustees, and internal partners to resolve issues.
Determine or recommend appropriate account actions, including payment arrangements, restrictions, setoffs, service freezes, loss mitigation actions, repossessions, foreclosures, and charge-offs, within established authority.
Identify and implement process, workflow, and technology improvements that strengthen efficiency, controls, and the member experience.
Lead and support department initiatives, system enhancements, and program changes impacting Financial Assistance operations.
Foster a collaborative, accountable, and high-performing team culture grounded in service, integrity, and continuous improvement.