Collections & Loss Mitigation Leader

Socket.dev; Flint (MI); Hybrid; USD 65,000 - 90,000; Full time

Job summary

Financial Plus Credit Union is seeking an Assistant Collections Manager to lead daily collections operations, mentor staff, and support loss mitigation strategies across consumer, credit card, indirect, commercial, and real estate portfolios.

You will collaborate with attorneys and third parties to improve recoveries, monitor delinquency trends, and ensure compliance with laws and policies while delivering superior member service.

Qualifications

• Bachelor's degree in a related field preferred; or an equivalent combination of education and experience.
• Minimum of five years of collections experience, including consumer and/or real estate collections.
• Previous leadership, supervisory, or coaching experience preferred.
• Knowledge of loss mitigation, mortgage servicing, foreclosure, recovery, and collection practices.
• Working knowledge of applicable collection regulations, consumer lending, and credit union operations.

Responsibilities

• Assist the Collections & Loss Mitigation Manager in overseeing the daily operations of the department and supervising hourly staff.
• Provide coaching, training, performance feedback, and support to ensure departmental goals and service standards are achieved.
• Serve as a departmental resource for complex collection, recovery, loss mitigation, and member service issues.
• Support departmental initiatives and serve as acting leader in the absence of the Collections & Loss Mitigation Manager.
• Manage complex delinquent consumer, credit card, indirect, commercial, and real estate loan accounts.
• Oversee and support collection-related activities including bankruptcy, foreclosure, repossession, probate, garnishments, levies, and recovery efforts.
• Monitor portfolio performance, delinquency trends, recoveries, and key performance indicators, recommending strategies to improve results.
• Partner with attorneys, investors, title companies, collection agencies, and other third parties to support loss mitigation, legal actions, and recovery efforts.
• Ensure collection, loss mitigation, and recovery activities comply with all applicable laws, regulations, servicing requirements, investor guidelines, and credit union policies.
• Maintain current knowledge of mortgage servicing regulations, loss mitigation requirements, and industry best practices.
• Assist with audits, policy updates, process improvements, and regulatory examinations.
• Resolve escalated member concerns with professionalism, empathy, and sound judgment.
• Collaborate with internal departments to support organizational goals and enhance the member experience.
• Perform other duties as assigned.

Skills

Leadership experience

Collections expertise

Mortgage servicing knowledge

Regulatory compliance knowledge

Vendor/attorney coordination

Microsoft 365 proficiency

Education

Bachelor's degree in a related field

Tools

Microsoft 365

Job description

Financial Plus Credit Union is seeking an Assistant Collections Manager to lead daily collections operations, mentor staff, and support loss mitigation strategies across consumer, credit card, indirect, commercial, and real estate portfolios.

You will collaborate with attorneys and third parties to improve recoveries, monitor delinquency trends, and ensure compliance with laws and policies while delivering superior member service.