Manager, Collections

SchoolsFirst Federal Credit Union; United States; On-site; USD 112,000 - 179,000; Full time

Job summary

SchoolsFirst FCU in the United States seeks an experienced Manager, Collections to lead the day-to-day operations of the Collections department, focusing on delinquent payments and recovery strategies to minimize losses and protect members.

You will supervise the team, coordinate with audits and regulators, and drive process improvement, vendor management, and compliance with applicable laws and internal controls.

Qualifications

• High School Diploma or GED required.
• Bachelor's Degree in a related field or equivalent years of experience required.
• 5-7 years of prior functional experience required.
• 1-3 years of prior management experience required.

Responsibilities

• Manages the day-to-day operation of the Collections department with a primary focus on collection of delinquent payments and/or recovery strategies.
• Plans, organizes, and directs the functions and team for the purpose of limiting consumer loan portfolio delinquency and charge off.
• Ensures maximum accuracy, efficiency, and compliance related to all collections activities on consumer loans and lines of credit.
• Monitors service performance of the department to ensure exceptional Member Service.
• Responsible for the overall direction, coordination, and evaluation of collection and/or recovery functions which may include, but are not limited to: communication campaigns, inbound and outbound call strategies, short-term and long-term assistance, negative shares, workout loans, post charge-off recovery strategies, repossessions, bankruptcy cases, and other operations and quality control functions for the purpose of limiting consumer loan portfolio delinquency and charge-off.
• Conducts periodic reviews of existing systems, procedures and workflows to ensure highest level of Member service, productivity, internal control and legal compliance.
• Serves as liaison for internal and external audits, including the NCUA and CFPB, relating to department audit activities to ensure that department functions meet regulatory policies and guidelines.
• Supports team with the evaluation of Member financial circumstances problem resolution, escalations, and the development of recommendations to assist the Member and mitigate credit union losses, delinquencies and avoid future complaints.
• Manages vendor relationships and vendor performance, including attorneys, repossession companies and collection agencies, to ensure Members are treated with empathy and care, reviews audit reports, and contract renewals.
• Reviews various reports to ensure that proper tracking is in place to effectively evaluate and improve processes and metrics within the business unit.
• Appropriately identifies, evaluates, and manages risk within area and implements risk mitigation strategies and activities.

Skills

Collection experience

Regulatory knowledge

Education

High School Diploma or GED

Bachelor's Degree in related field

Job description

Manager, Collections

We’re always looking for diverse, talented, service-oriented people to join our exceptional team. Our pay ranges are built to allow for candidates with various levels of skill and experience to be considered, as well as for room for growth and tenure achieved in a role over time. Typical new hire salary offers fall within the minimum to midpoint of a pay range for many candidates. Any offer extended to a candidate will be based upon their unique set of knowledge, skills, education, and experience as well as internal equity.

Pay Range: $112,185.00 - $179,496.00. Scheduled Weekly Hours: 40.

What You’ll Be Doing

• Manages the day-to-day operation of the Collections department with a primary focus on collection of delinquent payments and/or recovery strategies.
• Plans, organizes, and directs the functions and team for the purpose of limiting consumer loan portfolio delinquency and charge off.
• Ensures maximum accuracy, efficiency, and compliance related to all collections activities on consumer loans and lines of credit.
• Monitors service performance of the department to ensure exceptional Member Service.
• Responsible for the overall direction, coordination, and evaluation of collection and/or recovery functions which may include, but are not limited to: communication campaigns, inbound and outbound call strategies, short-term and long-term assistance, negative shares, workout loans, post charge-off recovery strategies, repossessions, bankruptcy cases, and other operations and quality control functions for the purpose of limiting consumer loan portfolio delinquency and charge-off.
• Conducts periodic reviews of existing systems, procedures and workflows to ensure highest level of Member service, productivity, internal control and legal compliance.
• Serves as liaison for internal and external audits, including the NCUA and CFPB, relating to department audit activities to ensure that department functions meet regulatory policies and guidelines.
• Supports team with the evaluation of Member financial circumstances problem resolution, escalations, and the development of recommendations to assist the Member and mitigate credit union losses, delinquencies and avoid future complaints.
• Manages vendor relationships and vendor performance, including attorneys, repossession companies and collection agencies, to ensure Members are treated with empathy and care, reviews audit reports, and contract renewals.
• Reviews various reports to ensure that proper tracking is in place to effectively evaluate and improve processes and metrics within the business unit.
• Appropriately identifies, evaluates, and manages risk within area and implements risk mitigation strategies and activities.

Additional Job Functions

• Provides daily support to teammembers, including answering questions and problem resolution, communicating job expectations; planning, monitoring, and appraising job results; training, coaching, counseling, and disciplining teammembers; developing, coordinating, and enforcing systems, policies, procedures, and productivity standards.
• Accomplishes financial objectives by forecasting requirements; preparing an annual budget; scheduling expenditures and analyzing variances.
• Contributes to organizational goals and priorities as a member of Management team.
• Establishes and implements plans that have short-term (1-2 year) impact on business results in alignment with organization objectives.
• Evaluates operating procedures and policies, ensuring the highest levels of Member service, productivity and internal control.
• Initiates, researches, coordinates and implements department or division projects intended to benefit Members, internal teammembers or department operations.
• Ensures compliance with state and federal laws as well as any other applicable regulations.
• Understands the Credit Union organizational goals and key performance indicators and takes the necessary actions to achieve desired results.
• Performs other duties as assigned.
• Complies with regulatory compliance and assigned training requirements including but not limited to BSA regulations corresponding to their specific job duties. Failure to do so may result in disciplinary and other employment related actions.

Qualifications

• High School Diploma or GED required
• Bachelor's Degree in a related field or equivalent years of experience required
• 5-7 years of prior functional experience required
• 1-3 years of prior management experience required

SchoolsFirst FCU is committed to Diverse, Equitable, and Inclusive Hiring At SchoolsFirst FCU we are dedicated to building and growing a diverse, inclusive, and authentic Dream Team, so if you’re excited about a position or wanting to make a career change but your past experience doesn’t align perfectly with every qualification in the job description, we encourage you to apply anyway. Many skills are transferrable and you may be just the right candidate for the position, or for other roles we are working on.

SchoolsFirst Federal Credit Union is committed to fostering, cultivating, and preserving a culture of diversity and inclusion. SchoolsFirst FCU is an equal opportunity employer and prohibits discrimination against qualified individuals based on their status as protected veterans or individuals with disabilities and prohibits discrimination against all individuals based on their race, color, religion, sex, national origin, age, sexual orientation, gender identity or expression, political affiliation, or genetic information. This organization participates in E-Verify.

We're passionate about living our mission of providing Members with World-Class Personal Service and financial security. There's a reason we love coming to work every day. We have the privilege of serving those who build the future: school employees, and the families who make their work possible. Our success is built on our relationships with each other, our Members and the community. We value teamwork and face-to-face interactions and believe we’re at our best when we’re collaborating in-person. We also know the flexibility to work remotely benefits the wellbeing of our team.

100% on-site, 0% remote. Including those serving Members in-person at our branches. Three days a week in the office and up to two days remote. Hybrid teams coordinate on-site days to collaborate in-person. Up to 100% remote. Select individual contributor roles may be given the option to work fully remote.