***MUST HAVE FINANCE COMPANY/FINANCIAL INSTITUTION EXPERIENCE WITH COLLECTIONS***
TITLE: Collection Manager
REPORTS TO: Loan Manager
SUPERVISES: Collector
PURPOSE
Responsible for the collections of past due loan accounts and maintaining accurate records of all collection activity including securing repossessed collateral, filing claims, and handling all legal activities. Optimize collections on accounts while balancing the goodwill of members with the overall business interest of the credit union.
DUTIES AND RESPONSIBILITIES
· Responsible for the control of late and/or delinquent loan accounts; Make follow-up phone calls and/or send correspondence on delinquent loan accounts
· As directed by management prepare/present accurate and up to date records of all collection activities at all times. As directed/requested by Management prepare/present statistical reporting on a scheduled basis.
· Ensure that collections policies, procedures, practices, and documentation best serve the credit union and are compliant with all federal and state laws and regulations.
· Maintain courteous and considerate interface with members at all times;
· Use effective control procedures for late and/or delinquent or potentially delinquent loans.
· Make recommendations to Management regarding charge offs
· Review accounts where action beyond routine collection procedures must be implemented; Handle complex situations; Resolve difficult or non-routine member issues
· Responsible for overseeing the monitoring of late payments and/or delinquent accounts including any payments received from the bankruptcy courts/attorneys/collection agencies.
· Oversee the follow up on delinquent and overdue credit balances.
· Oversee and responsible for the contact of high balance and/or overdue accounts determining the reason for the delinquency and assist them in developing a plan to bring accounts to current status. Direct/assist the Collector with workout plans.
· Oversee notification of co-signers regarding status of delinquent accounts
· Update files and system accounts following the credit union’s collections procedures
· Responsible for collectors obtaining credit bureau reports. Direct skip tracing activities as needed.
· Maintain accurate data for repossessions/bankruptcies/collection activities at all times to reconcile accounting records.
· Direct research of payroll deductions, stop, starts and changes as they may affect the status of loan repayment.
· Assist members when needed with delinquent real estate loans to resolve delinquency.
· With directions from Sr. Management, determine when to compromise and settle balances and when to initiate foreclosure or repossession proceedings
· With directions from Sr. Management, determine when loan collateral should be repossessed and serve as liaison with attorneys or agencies in handling repossession of collateral
· Oversee the filing of all claims, attend hearings, and coordinate with trustees for all bankruptcy filings.
· Oversee the investigation of discrepancies in loan applications and credit bureau reports.
· Oversee the process to keep any repossessions well maintained, clean and in working order for possible sales
· Submit information to FPI company and process FPI reports. Post entries to members’ accounts when adding premiums and applying refunds when necessary.
· Oversee the collection activities and efforts for negative share draft accounts ensuring proper calling/follow-up/etc.
SKILLS, KNOWLEDGE, EXPERIENCE
· High school graduate or equivalent.
· Knowledgeable of computers and general office equipment
· Able to understand and follow verbal and written instructions
· Must have excellent verbal and written communications skills
· Must be organized, accurate and neat
· Maintain professional appearance
· Able to work well with team members and credit union staff
This job description is not a complete statement of all duties and responsibilities for this position. It contains only the facts necessary to evaluate the position on a fair basis.
Job Type: Full-time
Pay: $38,000.00 - $42,000.00 per year
Benefits:
- 401(k)
- 401(k) matching
- Dental insurance
- Health insurance
- Life insurance
- Paid time off
- Vision insurance
Weekly day range:
- Monday to Friday
- Weekends as needed
Experience:
- Microsoft Excel: 1 year (Preferred)
- Customer service: 1 year (Preferred)
Ability to Commute:
- Gonzales, LA 70737 (Required)
Ability to Relocate:
- Gonzales, LA 70737: Relocate before starting work (Required)
Work Location: In person