Collections Manager

POSITION PURPOSE

Responsible for the control of late and/or delinquent loan accounts and pending late payments reminders. Make follow up telephone calls on delinquent loan accounts and maintain accurate records on delinquent loan accounts. Optimize collections on accounts while balancing the goodwill of members with the overall business interests of the credit union.

ESSENTIAL FUNCTIONS AND BASIC DUTIES

Monitor payments for late and/or delinquency status. Follow up on delinquent, high-balance, and overdue credit balance accounts by phone and/or letter. Ensure professional interface with members.

Contact high balance and/or delinquent members by telephone and mail to determine the reasons for balance or delinquency, and assist them in developing plans to bring accounts to a current status. Develop workout plans and collect on overdue accounts wherever possible.

Notify co-signers regarding status of delinquent accounts.

Update files and system accounts via the credit union’s delinquent loan recovery system.

Secure credit bureau reports. Skip trace on loan accounts. Maintain accurate data for repossession log, bankruptcy files charge-off list, etc.

Research payroll deductions, stops, starts, and changes as they may affect the status of a loan repayment.

Assist members with delinquent real-estate loans to resolve delinquency.

Determine when to compromise and settle balances and when to initiate foreclosure or repossession.

Manage repossessed collateral. Serve as liaison with attorneys or agencies in handling repossession of collateral.  Maintain collateral credit insurance program.

File all claims, attend hearings, and coordinate with trustees for all bankruptcy filings.

Investigate and correct discrepancies in loan applications and credit bureau reports.

Perform other duties, projects or tasks as assigned.

QUALIFICATIONS

Education/Certification:
A high school education or GED.

Required Knowledge:
Thorough knowledge of principles and processes for providing member and personal services. This includes member needs assessment, meeting quality standards for services, and evaluation of member satisfaction.
Thorough knowledge of established collections operations, procedures and policies.  Understanding of Credit Union operations and philosophy.

Experience Required:
One year to three years of similar or related experience.

Skills/Abilities:
Excellent oral and written communication skills. Professional appearance, dress, and attitude. Working knowledge of related computer systems and applications. Solid math skills. Performs effectively with frequent workload changes and competing demands. Maintains confidentiality related to Credit Union operations and work-related information.
Deals with people and situations with a high level of skill, tact, and courtesy and manages

communications and relationships between contacts.
Identifies complex problems and reviews related information to develop, evaluate options, negotiate, and implement solutions.