Collections Manager en Bayer Heritage Federal Credit Union

Description

Ready to look forward to going to work every day? Want to be a part of a service driven culture where employees are appreciated? Check out our opportunity with Bayer Heritage Federal Credit Union!

The purpose of this role is to preserve the Credit Union’s assets by managing the workforce by controlling delinquent accounts, collecting delinquent loan payments and/or recovering collateral and disposing of repossessed and foreclosed collateral.

Responsibilities:

• Develop and implement strategies to increase the number of successful collections on outstanding debt.
• Manages, trains and develops collection team and allocates resources to meet operational needs within the department.
• Reviews and approves, denies or modifies collection recommendations from the team as needed.
• Informs management of trends in loan underwriting contributing to delinquent/charged off loans.
• Analyzes financial situation of delinquent borrowers in order to conduct negotiations to establish repayment plans; takes action to repossess collateral when arrangements to bring the loan current are unsuccessful.
• Provides legal counsel with information to facilitate legal proceedings. Represents the institution at legal proceedings as necessary.
• Perform regular reviews and audits to ensure compliance with state and federal collections laws.
• Arranges the sale of repossessed/foreclosed collateral; determines additional investment to be made in collateral.
• Contacts delinquent accounts by phone and mail; takes appropriate action to bring current.
• Other related duties as assigned.

Performance Measurements

• Coaches and develops a cohesive, highly trained and motivated staff, sufficient to meet the needs of members and understands collection and bankruptcy regulations.
• Ensures all collection activity is legal and follows credit union policy.
• Informs management of operational issues affecting the credit union’s collection activities and stays current with regulation changes.
• Provides friendly, professional and accurate service and support to all members and associates.
• Develops recommendations for cost efficiencies and enhancements to products, pricing and processes by monitoring trends in operations with collections and lending services.
• Maintains compliance with the Fair Debt Collection Practices Act (FDCPA) and ensures collection activity is always within credit union policy and all relevant regulations.
• Maintains accurate and complete records of all collection and recovery activity.
• Ensures tools and procedures are sufficient to maintain concise, professional documentation of each contact or contact attempt.
• Provides informed, professional assistance and support to all members and associates; troubleshoots and resolves inquiries in a timely and accurate manner.
• Leads regular collection meetings with all involved in collection efforts and share monthly reports with appropriate management.
• Sets goals for maintaining delinquency ratios within the department and shares information to staff regularly.
• Completes necessary computer-based trainings.

Requirements

• Three years to five years of similar or related experience.
• (1) A two-year college degree or (2) Completion of a specialized course of study at a business or trade school or (3) Completion of a specialized and extensive in-house training or apprenticeship program.
• A significant level of trust and diplomacy is required, in addition to normal courtesy and tact. Work involves extensive personal contact with others and is usually of a personal or sensitive nature. Work may involve motivating, influencing or training others. Outside contacts become important and fostering sound relationships with other entities (companies and/or individuals) becomes necessary and often requires the ability to influence and/or sell ideas or services to others.
• Must have good communication skills.

EEO Statement

Bayer HFCU is an equal opportunity employer. We are committed to our policy of providing equal employment opportunity in a manner consistent with applicable laws and regulations, including federal laws prohibiting employment discrimination on the basis of race, color, creed, national origin, sex, age, disability, sexual orientation or genetic information.