Palmetto Citizens Federal Credit Union
Vice President of Collections
Palmetto Citizens Federal Credit Union, Columbia, South Carolina, us, 29228
Overview:
The Vice President of Collections is responsible for leading and managing the collections department, ensuring that the team effectively handles delinquent and charged off accounts in a manner that aligns with the Credit Union’s values, goals, and regulatory requirements. This role involves overseeing a large team of collection professionals, implementing strategies to minimize losses, and maintaining high standards of member service. The Vice President of Collections must be well-versed in industry best practices, legal guidelines, and the specific needs of the Credit Union.
Responsibilities:
Team Leadership and Development:
Lead, monitor and develop a high-performing collections team, fostering a positive and productive work environment.
Set performance goals and conduct regular evaluations to ensure associates meet or exceed expectations.
Provide ongoing training and professional development opportunities to enhance the skills and knowledge of the team.
Strategic Planning and Execution:
Develop and implement strategic plans to improve collections processes, reduce delinquency rates, and maximize recovery of overdue accounts.
Collaborate with senior management to align collections strategies with the Credit Union’s overall goals and objectives.
Monitor and analyze performance indicators (KPIs) to identify trends and adjust strategies as needed.
Compliance and Risk Management:
Ensure all collections activities comply with Federal, state, and local laws and regulations as well as Credit Union policies and procedures.
Oversee the accurate and timely documentation of all collections activities to maintain compliance and mitigate legal risks.
Implement risk management strategies to protect the Credit Union from financial losses and reputational damage.
Act as the Credit Union representative on matters concerning small claims court, vehicle repossessions, collection agencies, Bankruptcy claims and court, foreclosures, and deal with the credit union attorney on these matters as required.
Member Service and Communication:
Maintain a member-focused approach, ensuring that collections practices are conducted with professionalism and sensitivity.
Resolve escalated member issues in a manner that balances the needs of the Credit Union with member satisfaction.
Communicate effectively with members regarding their accounts, offering solutions and payment options when appropriate.
Collaboration and Cross-Functional Partnerships:
Work closely with other departments, including Lending, Compliance, and Member Services, to ensure seamless operations and the achievement of organizational goals.
Provide insights and recommendations to senior management based on collections data and industry trends.
Technology and Process Improvement:
Evaluate and implement technology solutions that enhance the efficiency and effectiveness of the collections department.
Continuously seek opportunities to streamline processes, reduce costs, and improve outcomes.
Industry Knowledge and Continuous Learning:
Stay informed about industry trends, emerging regulations, and best practices in collections management.
Participate in industry conferences, workshops, and networking events to maintain a high level of expertise.
Qualifications:
Bachelor’s degree in Finance, Business Administration or a related field (relevant certifications a plus).
Minimum 7-10 years of experience in collections, with at least 5 years in management, overseeing a large team.
Deep understanding of the Credit Union industry, including relevant regulations, trends, and challenges.
Proven ability to lead, motivate and develop a large team, with a track record of achieving performance goals.
Strong analytical abilities with experience in developing and executing strategic plans based on data insights.
Excellent verbal and written communication skills, with the ability to interact effectively with team members, senior management, and members.
Familiarity with collections management software and financial services technology platforms, and general ledgers.
Ability to think critically and make informed decisions that align with the Credit Union’s and member needs.
Comprehensive knowledge of federal and state collection regulations, including the Fair Debt Collection Practices Act (FDCPA).
Proficiency in Microsoft Office Products required.
Hours of Operation:
Mon (8:30 a.m. – 5:30 p.m.) Tues – Thurs (8:30 a.m. – 6:30 p.m.) Fri (8:30 a.m. – 6:10 p.m.) & two Saturdays a month (8:00 a.m. – 11:00 a.m.)
Palmetto Citizens is an Affirmative Action and Equal Opportunity Employer. Minority/Female/Disabled/Veteran
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The Vice President of Collections is responsible for leading and managing the collections department, ensuring that the team effectively handles delinquent and charged off accounts in a manner that aligns with the Credit Union’s values, goals, and regulatory requirements. This role involves overseeing a large team of collection professionals, implementing strategies to minimize losses, and maintaining high standards of member service. The Vice President of Collections must be well-versed in industry best practices, legal guidelines, and the specific needs of the Credit Union.
Responsibilities:
Team Leadership and Development:
Lead, monitor and develop a high-performing collections team, fostering a positive and productive work environment.
Set performance goals and conduct regular evaluations to ensure associates meet or exceed expectations.
Provide ongoing training and professional development opportunities to enhance the skills and knowledge of the team.
Strategic Planning and Execution:
Develop and implement strategic plans to improve collections processes, reduce delinquency rates, and maximize recovery of overdue accounts.
Collaborate with senior management to align collections strategies with the Credit Union’s overall goals and objectives.
Monitor and analyze performance indicators (KPIs) to identify trends and adjust strategies as needed.
Compliance and Risk Management:
Ensure all collections activities comply with Federal, state, and local laws and regulations as well as Credit Union policies and procedures.
Oversee the accurate and timely documentation of all collections activities to maintain compliance and mitigate legal risks.
Implement risk management strategies to protect the Credit Union from financial losses and reputational damage.
Act as the Credit Union representative on matters concerning small claims court, vehicle repossessions, collection agencies, Bankruptcy claims and court, foreclosures, and deal with the credit union attorney on these matters as required.
Member Service and Communication:
Maintain a member-focused approach, ensuring that collections practices are conducted with professionalism and sensitivity.
Resolve escalated member issues in a manner that balances the needs of the Credit Union with member satisfaction.
Communicate effectively with members regarding their accounts, offering solutions and payment options when appropriate.
Collaboration and Cross-Functional Partnerships:
Work closely with other departments, including Lending, Compliance, and Member Services, to ensure seamless operations and the achievement of organizational goals.
Provide insights and recommendations to senior management based on collections data and industry trends.
Technology and Process Improvement:
Evaluate and implement technology solutions that enhance the efficiency and effectiveness of the collections department.
Continuously seek opportunities to streamline processes, reduce costs, and improve outcomes.
Industry Knowledge and Continuous Learning:
Stay informed about industry trends, emerging regulations, and best practices in collections management.
Participate in industry conferences, workshops, and networking events to maintain a high level of expertise.
Qualifications:
Bachelor’s degree in Finance, Business Administration or a related field (relevant certifications a plus).
Minimum 7-10 years of experience in collections, with at least 5 years in management, overseeing a large team.
Deep understanding of the Credit Union industry, including relevant regulations, trends, and challenges.
Proven ability to lead, motivate and develop a large team, with a track record of achieving performance goals.
Strong analytical abilities with experience in developing and executing strategic plans based on data insights.
Excellent verbal and written communication skills, with the ability to interact effectively with team members, senior management, and members.
Familiarity with collections management software and financial services technology platforms, and general ledgers.
Ability to think critically and make informed decisions that align with the Credit Union’s and member needs.
Comprehensive knowledge of federal and state collection regulations, including the Fair Debt Collection Practices Act (FDCPA).
Proficiency in Microsoft Office Products required.
Hours of Operation:
Mon (8:30 a.m. – 5:30 p.m.) Tues – Thurs (8:30 a.m. – 6:30 p.m.) Fri (8:30 a.m. – 6:10 p.m.) & two Saturdays a month (8:00 a.m. – 11:00 a.m.)
Palmetto Citizens is an Affirmative Action and Equal Opportunity Employer. Minority/Female/Disabled/Veteran
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