Collections Manager

Who we are...

Heritage Financial Credit Union has been helping families reach their financial goals for over 80 years. We consider ourselves more than a bank. We are the combined heritage of generations who have worked together to leave lasting contributions in the homes and communities of the Hudson Valley. We believe in our members – in their stories, both past and yet unwritten.

Our Mission

We are more than a bank. We believe in our members and employees – in their stories, both past and yet to be written. We are the combined heritage of generations who care about and support each other to provide lasting contributions in our communities. We are committed to creating opportunities for people by providing necessary tools, resources and education to make possible the achievement of their goals, hopes and dreams.

Why us...

Heritage Financial Credit Union offers employees a culture of teamwork, superior service orientation, and open communication! We offer the opportunity for growth and development as well as competitive pay, flexible hours, paid time off, and 11 paid holidays. Additionally, we offer tuition reimbursement, employer-subsidized health plans, and dental, vision and other voluntary insurance plans.

POSITION DESCRIPTION

Position Title : Collections Manager

Department : Lending

Classification : Exempt

Approved By : VP of Lending

POSITION PURPOSE

Heritage Financial Credit Union is growing and our portfolio is changing. The Collections Manager will partner with a team of collectors to ensure effective and timely review and resolution of past due consumer mortgage, collateralized and personal loan accounts, while protecting the credit union’s assets, financial interest and reputation. Take a proactive approach to identify effective solutions on past due accounts that benefit both the Member and the credit union. Review, recommend, and follow foreclosure and repossession processes to successful conclusion to include REO management. Review, structure, and recommend appropriate loan modification and workout requests for consideration. Motivate staff on a daily basis to accomplish goals through productivity, accuracy, and efficiency.

Maintain an in-depth knowledge of the credit union’s products and services as well as regulations and compliance issues both state and federal. Required to attend or participate in necessary compliance training. Adheres to credit union service standards and core values.

ESSENTIAL FUNCTIONS AND RESPONSIBILITIES

• Lead and direct the daily activities of the collection activities of the credit union, under the supervision of the AVP of Loan Operations.
• Understand and ensure the accuracy and legalities of bankruptcies, repossession, foreclosure and charge off accounts.
• Identify risk, account abuse, and negative accounts, notifies management in a timely manner and recommends additional actions as necessary.
• Identify opportunities for new and / or improved products, services, and processes to ensure the highest levels of member service, compliance, and accountability for reducing losses while maintaining member relationships.
• Attract, retain and develop each employee to their highest potential by appropriately coaching, training and mentoring.
• Present timely and accurate reports to management.
• Participate in credit union events and member-engaging functions with occasional travel required.
• Maintain an efficient and highly effective collection process.
• Responsible for production and results of collection staff, including monitoring of all past due accounts to include reporting via multiple software systems such as Excel and other reporting software.
• Ensuring all consumer account collection activity, including collateral repossession, mortgage foreclosure, liquidation, and subsequent charge off process meets credit union, state, and federal lending regulations.
• Manages all aspects of departmental staffing, to include : hiring where applicable, training, coaching, and developing.
• Setting departmental goals and establishing performance minimums. Monitor production of all personnel by tracking goals on a daily / monthly basis.
• Responsible for policy and procedures updates as necessary.
• Managing all collection related service vendors utilizing appropriate software. Includes contract management and vendor due diligence.
• Monitor and track collection trends.
• Participate in department and / or strategic projects as directed.
• Work together with all areas of lending including origination, consumer lending, servicing, and collections to ensure an efficient, effective team based division.
• Assist in training new employees.
• Performs other related and unrelated duties as requested and therefore required.

QUALIFICATIONS

Education / Certification : 4 year college degree preferred plus five to seven years experience in lending and collections.

Required Knowledge : This position requires that the employee gain a working knowledge of Bank Secrecy Act (BSA) requirements and how they will affect their work. The employee will comply with all requirements of the BSA and cooperate with the designated BSA Officer in assuring compliance.

Experience Required : Experience using P.C. based software including Microsoft Office and lending systems etc.

Skills / Abilities : Ability to project a professional appearance and positive attitude at all times.

Equal Opportunity Statement

Employment at our Credit Union is based upon merit, ability, and qualifications. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability, status as a protected veteran, or any other legally protected status.

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