Sr. Retail Collections Manager

Lumesse; New Buffalo (MI); On-site; USD 90,000 - 130,000; Full time

Job summary

Horizon Bank in Michigan seeks a Sr. Retail Collections Manager to lead the retail collection team and align with lending strategies across Direct, Indirect and Mortgage portfolios.

You will oversee delinquent collections, repossessions, mortgage foreclosures, asset liquidations and losses, while ensuring compliance with BSA, SOX404 and investor guidelines.

The role emphasizes leadership, risk management, vendor management, and collaboration with HR to build a strong, compliant team.

Qualifications

• Minimum of 5 years banking or financial services experience.
• Strong leadership skills and ability to manage a team.
• Knowledge of agency guidelines and industry standards (FDIC/DFI).
• Internal Controls as required by SOX404.
• Strong organization, time management and follow-up skills.
• Excellent interpersonal and communication abilities.
• Ability to follow detailed instructions and procedures.

Responsibilities

• Provide leadership and guidance to the retail collection team.
• Develop collection strategies using dialers and digital technologies.
• Oversee mortgage servicing and reporting guidelines for sold/serviced portfolios.
• Oversee consumer bankruptcy processes (Chapter 7 and 13).
• Prepare monthly detail results reporting for committees and authorize related actions.
• Manage third-party vendor relationships for repossession, foreclosure and bankruptcy attorneys.

Skills

Leadership

Financial services

Regulatory knowledge

Communication

Compliance

Analytical skills

Team development

Job description

The Sr. Retail Collections Manager is responsible for ensuring that the company’s retail collection team is aligned with its strategic objectives of the Direct, Indirect and Mortgage lending strategies. The Sr. Collections Manager is a key business unit leader, responsible for the day to day oversight of the banks collection team. The key task for this position are the collection of delinquent accounts, repossession of auto loans, foreclosure of defaulted mortgage loans, liquidation of bank owned assets, management of consumer bankrupt accounts, review of other losses related to collateral dependent loans, adhering to mortgage servicing end investor guidelines, and management of the Loss Mitigation program for distressed borrowers. The Sr. Collections Manager will comply with state and federal regulation and company policies and established Standard Operating Procedures (SOPs).

Principal Accountabilities

The Sr. Retail Collections Manager’s key responsibility is to ensure that the credit quality of our retail lending portfolios are achieved based on strong collection strategies. Represent the Bank to both internal and external customers in a courteous, professional manner in face-to-face, written, digital and telephone communications.A ccountable for adherence to compliance standards including Bank Secrecy Act (BSA), quality of documentation, timeliness and accuracy. Actively protect confidentiality of customer and account information. Demonstrate Horizon Bank’s commitment to the communities we serve through involvement in local organizations and events.

Duties

• Provide leadership and guidance to the retail collection team.
• The following are specific areas of knowledge and skill required to be successful in the position.
  • Proficient in the development of collection strategies using automatic dialer and digital technologies.
  • Knowledgeable on Mortgage Servicing and Reporting Guidelines for sold and serviced mortgage portfolios.
  • Consumer Bankruptcy oversight and management, specifically consumer Chapter 7 and Chapter 13.
  • Preparation of monthly detail results reporting for the Retail Watch Committee. Report upon related approvals for monthly charge offs, REO liquidations and legal action.
  • Management of the day to day third party vendor relationships for Repossession Company, Contingent, Foreclosure and Bankruptcy attorneys. Manage other real estate owned vendors, including realtors, maintenance contractors, appraisers and so forth.
• Report suspicious transactions or unusual occurrences to supervisor.
• Conduct and document periodic risk reviews and run reports as needed
• Perform all work in compliance with established regulations, policies, Standard Operating Procedures (SOPs), and instructions.
• Maintain customer confidence and protect bank operations by keeping information private and confidential.
• Participate in ongoing skill, compliance, risk management and security training as required for the position and apply knowledge in daily tasks
• Other duties as assigned
• Lead recruitment efforts and partner with Human Resources to recruit, hire, retain and develop a talented and diverse workforce.
• Coordinate training for new hires and in conjunction with performance and developmental needs.
• Monitor behavior and results to effectively coach and motivate team members to achieve service and sales goals.
• Prepare and conduct scheduled performance evaluations. Address and document performance issues.
• Schedule employees, manage time off requests and approve weekly timecards.
• Responsible for building and developing a successful team as well as staff retention. Involve staff in planning, decision-making and process improvement.
• Responsible for encouraging continuous enhancement of subordinates’ knowledge and competencies to foster their successful career advancement.

Qualifications & Skills

• The duties of the Sr. Retail Collection Manager require a skill set that includes both a strong financial services background, including collection oversight and management. The position requires a minimum of 5 years banking or financial service experience.
• Key traits needed for this position are strong leadership skills, a thorough knowledge of collection practices, include the legal and regulatory knowledge associated with such practices.
• Knowledge of agency guidelines and industry standards as they relate to FDIC and DFI compliance. Internal Controls as required by SOX404.
• Strong organization, time management and follow-up skills. Strong interpersonal skills and ability to communicate effectively with customers, bank employees and outside service providers.
• Ability to follow detailed instructions and a wide range of procedures requiring sound judgement.
• Ability to perform complex mathematical computations using various business machines and/or computers.

Core Competencies

• Action Oriented
• Decision Quality
• Composure
• Problem Solving
• Conflict Management

Physical Requirements

Reasonable accommodation may be made to enable individuals with disabilities to perform the essential functions in compliance with the Americans with Disabilities Act (ADA)

Physical Demand:

Percentage of Time:

Communicate with customers, advisors and managers regarding banking transactions and issues. Able to exchange accurate information with others.

90-100%

Able to verify authenticity of financial instruments, forms, documents and signatures. Able to verify identity of customers, vendors and service providers. Able to observe actions of others to ensure safety and security of the facility.

90-100%

Able to grasp, move and sort forms and papers.

90-100%

Constantly operate a computer and other office machinery such as calculator, copy machine, fax machine, scanner, printer and telephone

90-100%

Able to remain stationary at a desk for long periods of time

75-100%

Regularly move about the office to access file cabinets, storage drawers and various office equipment

75-100%

Occasionally position self to reach heights between floor and 6’

<25%

Travel to attend seminars and meetings. Some overnight travel may be required

<10%

Horizon Bank is a proud Equal Opportunity Employer | Disability | Veteran Employer.