Senior Retail Collections Manager

Merchants-Bank; Winona (MN); On-site; USD 70,000 - 95,000; Full time

Benefits offered by this job

Health insurance

Dental insurance

Life insurance

Disability insurance

Vision insurance

401(k) plan

ESOP

Bonus plan

Paid time off

Tuition reimbursement

Voluntary supplemental insurance

Job summary

Merchants Bank in Winona seeks a Retail Collections Manager to supervise the Customer Recovery team and oversee collections on delinquent consumer, mortgage, and credit card accounts. The role ensures adherence to policies, legal requirements, and loss mitigation strategies while managing REO operations.

The position requires strong leadership, communication, and problem-solving skills, with a focus on customer confidentiality and compliance.

Qualifications

• 5+ years in bank collection practices and procedures.
• 2+ years of supervisory experience preferred.
• Strong knowledge of collection guidelines and regulatory requirements.
• Bachelor's degree preferred or equivalent work experience.

Responsibilities

• Contact customers regarding delinquent accounts according to bank, investor, and regulatory guidelines.
• Recommend loan modifications or other loss mitigation solutions, repossession, charge off, or foreclosure.
• Underwrite hardship packages in accordance with bank, investor, and mortgage insurance guidelines.
• Oversee and coordinate with attorneys for handling of court procedures for collection of loans.
• Oversee and manage bankruptcy filings for consumer, mortgage, and credit card accounts.
• Oversee and manage the handling of mortgages from delinquency through foreclosure and sale.
• Facilitate the preservation and disposition of foreclosed and repossessed property.
• Oversee the management of continuous overdrafts on retail accounts for potential account closure.
• Ensure timely filing of mortgage insurance claims.
• Report delinquent mortgage loan activity to investors and mortgage insurance companies as required.
• Oversee preparation of all delinquency and collection area reports for management and the board.
• Complete quarterly liquidation reports for all loans on non-accrual.
• Utilize and manage collection software, oversee updates, train staff, and utilize to create efficiency in monitoring and reporting.
• Maintain thorough knowledge and understanding of bank, investor, and PMI policies, procedures, and guidelines and ensure compliance with all applicable federal, state, and local regulations.

Skills

Verbal communication

Written communication

Human relations

Team leadership

Customer service

Problem solving

Attention to detail

Confidentiality

Education

Bachelor's degree preferred

High school diploma with relevant experience

Job description

Merchants Bank in Winona seeks a Retail Collections Manager to supervise the Customer Recovery team and oversee collections on delinquent consumer, mortgage, and credit card accounts. The role ensures adherence to policies, legal requirements, and loss mitigation strategies while managing REO operations.

The position requires strong leadership, communication, and problem-solving skills, with a focus on customer confidentiality and compliance.