Senior Assistant Director, Collections & Loans

Wentworth Institute of Higher Education • Boston, MA

105d

About The Position

The Senior Assistant Director for Collections and Loans is responsible for delinquency management services preventing past due accounts from reaching bad debt status. This position will manage student payment plans for past due accounts internal and external with third party vendors. The Senior Assistant Director for Collections and Loans works closely with the Bursar | Director of Student Accounts, Budget and Finance, other university partners, and outside agencies to ensure internal recovery efforts are successful. The Senior Assistant Director will perform collections reporting, and analytics, maximize collection strategy and efforts ensuring receivables are maintained and within established metric goals. The Senior Assistant Director for Collections and Loans is also responsible for all credit and collection activities relating to student accounts including Federal Perkins, Massachusetts No Interest (MNIL), and Institutional Loans. Under the supervision of the Bursar | Director of Student Accounts, the Senior Assistant Director for Collections and Loans is responsible for the college's past due accounts receivable, internal recovery efforts for the collection of all past due student accounts, and the collection of loans, including sending past due follow-up inquiries, negotiating with past due accounts and referring accounts to collection agencies. This also includes focusing on achieving revenue recovery goals while delivering excellent customer service to ensure customer satisfaction and retention.

Requirements

• Bachelor's Degree preferred
• Two to four years of credit and collection experience preferred
• General accounting office experience and previous work on a computerized accounting system preferred
• One to three years' experience required in handling cash receipts and deposits
• Demonstrated ability to collect funds
• Excellent written and verbal communication skills
• Ability to present ideas and information clearly to stakeholders
• Skilled in writing reports, project documentation, and status updates
• Negotiation Skills: Experience in negotiating project deliverables, deadlines, and resource allocation
• Ability to manage client and vendor relationships with diplomacy and tact
• Ability to identify issues and create practical solutions quickly
• Experience in troubleshooting and resolving conflicts within teams or projects
• Strong organizational skills with the ability to prioritize tasks effectively
• Ability to manage multiple projects simultaneously and meet deadlines
• Experience with time-tracking tools and software
• Attention to Detail: Strong focus on accuracy in work, especially in planning and reporting
• Ability to spot issues or discrepancies and address them proactively
• Strong computer skills required in Microsoft Word and Excel

Responsibilities

• Send and monitor delinquent accounts between college and collection agencies
• Formulate, recommend, and implement changes to policy or procedure for a more streamlined collections process
• Maintain documentation to assist agencies in the collection of outstanding accounts
• Manage student outreach plan to ensure students are appropriately informed of account information, clarify delinquent balances, explain financial obligations and past due payment plan terms
• Adheres to rules and guidelines surrounding collections activities, Fair Debt Collections Practices Act (FDCPA), and internal applicable policies and procedures
• Acts as a liaison between the university and outside loan servicing company (Federal Perkins Loans and Institutional Loans)
• Responsible for past due balance payment plan setup and collection of overdue accounts
• Provide backup for collection agency liaison for litigation and delinquent accounts
• Assists with alternative loan certifications in partnership with the Financial Aid Office
• Manages and oversees Massachusetts No Interest Loan (MNIL) program
• Manage and generate yearly tax 1098T forms for student population
• Serves as back up to the Associate Director (cashier functions)
• Other duties that may be assigned

What This Job Offers

• Job Type: Full-time
• Education Level: Bachelor's degree