Financial Solutions Director

IH Mississippi Valley Credit Union; Southwest Middlesex; Hybrid; CAD 80,000 - 120,000; Full time

Job summary

Join a forward-thinking organization as a Financial Solutions Director, where your expertise will drive strategic collection initiatives and enhance member financial wellness. This dynamic role involves leading a high-performing team, analyzing performance metrics, and implementing effective strategies to minimize losses. You'll collaborate with cross-functional teams to optimize member experiences and ensure compliance with regulatory standards. This position offers a hybrid working environment, allowing you to balance your professional and personal life while making a meaningful impact in the community. If you're passionate about financial health and leadership, this opportunity is perfect for you.

Benefits

On-site Gym

Flexible Work Hours

Professional Development Opportunities

Community Engagement Programs

Qualifications

• 10+ years in financial institutions with management experience.
• Strong commitment to financial health and member impact.

Responsibilities

• Develop and oversee collection strategies for portfolios.
• Lead and mentor the collections team for high performance.
• Ensure compliance with regulations in collections practices.

Skills

Financial Analysis

Team Leadership

Strategic Planning

Regulatory Compliance

Data Analysis

Education

Bachelor's Degree in Finance

Equivalent Experience

Tools

Analytical Software

Financial Management Systems

Job description

Join Our Team as a Financial Solutions Director at IHMVCU!

IHMVCU is member-focused and dedicated to providing exceptional service while fostering financial well-being for our community. We are seeking an experienced and results driven Financial Solutions Director to lead our collections division. This strategic role will develop and implement effective collection strategies, drive operational excellence, and ensure compliance with all relevant regulations while maintaining strong member relationships.

This role will enjoy a hybrid working environment at our beautiful headquarters located on River Drive in Moline, IL. This facility includes a comfortable office environment with an on-site gym facility.

Summary of Position:

The Financial Solutions Director will lead, inspire and further develop a high performing, engaged team of professionals that are cross functional in both collections and financial health. This role will monitor and analyze performance to identify trends and adjust strategies to minimize losses. As Financial Solutions Director, you will align with the Credit Union's mission in providing financial wellness to our members by offering educational programs, tools, and services to help achieve our commitment to overall financial health. You will also be responsible for managing both direct (unsecured, credit card and mortgages) and indirect auto portfolios, ensuring the effective recovery of delinquent accounts across all areas of the credit union's lending programs.

Experience Required:

• Bachelor's degree in finance, business administration or related field, equivalent combination of experience, education, and training may be considered.
• 10+ years of experience in a financial institution or experience in a related financial field is required
• 5+ years of management experience is required
• A strong commitment to Financial Health and desire to positively impact members financial well-being.
• Regulatory and compliance requirements applying to credit union deposit and lending products and services.
• Proven ability to analyze data and drive strategic decision-making.

Main Responsibilities:

• Develop and oversee the performance of collection strategies for both direct and indirect auto portfolios that minimize losses and enhance recovery rates, making enhancements for optimal success.
• Review trends and data in past, present and future delinquency to develop strategic plans of action.
• Lead and mentor the collections team, providing guidance and support to ensure high performance and professional growth.
• Collaborate with cross-functional teams to optimize member experience and address collection related challenges.
• Understanding the cycle of a loan from start to finish for direct (unsecured, credit card, mortgages) and indirect auto portfolios to help recommend products or programs to assist in decreasing future delinquency.
• Develop and implement key performance indicators (KPIs) to measure and improve collection effectiveness, ensuring alignment with organizational goals.
• Analyze dealer trends to identify opportunities and risks. Provide insights and recommendations to optimize dealer relationships.
• Implement and oversee processes to identify fraudulent loans and inaccurate information from dealers. Develop strategies to mitigate risks and ensure compliance with regulatory standards.
• Optimize technology to support the development of analytical tools, system, and process to help improve collection strategies.
• Implement, measure and evaluate the outcome of solutions to further improve collections processes and efficiency.
• Foster a culture of continuous improvement within the collections team, encouraging the adoption of new ideas, methodologies, and technologies to drive effectiveness.
• Ensure adherence to all federal and state regulations related to collections practices, particularly with regard to indirect auto lending programs.

Being a team member of IHMVCU is more than just a job, we want to make differences in the communities we live in and serve. Check out our careers page for more information including benefits www.ihmvcu.org/careers Final compensation will be determined by various factors such as experience, specific skills and internal pay equity.

Move Up your career at IHMVCU with this great opportunity!

Physical Requirements

• Sitting: Sedentary work involves sitting most of the time. Jobs are sedentary if walking and standing are required only occasionally and all other sedentary criteria are met.
• Talking: Expressing or exchanging ideas by means of the spoken word; those activities where detailed or important spoken instructions must be conveyed to other workers accurately, loudly, or quickly.
• Hearing: Perceiving the nature of sounds at normal speaking levels with or without correction and having the ability to receive detailed information through oral communication and making fine discriminations in sound.
• Finger, handle, touch: Picking, pinching, typing or otherwise working, primarily with fingers rather than with whole hand or arm as in handling. Applying pressure to an object with the fingers and palm.
• Visual Demands: Visual acuity to do things such as: preparing and analyzing data and figures; transcribing; viewing a computer terminal; extensive reading.
• Lifting Demands: Up to 10 lbs.