AVP, Collections

SUMMARY:

Responsible for the management and oversight of credit union real estate, consumer, and commercial delinquency, collection, collateral recovery, and liquidation activities.

ESSENTIAL FUNCTIONS:

• Integrates the credit union philosophy and operating principles and diligently promotes the credit union's Service Commitment into work habits, processes, and service delivery systems
• Manage the process of the collections of delinquent accounts by providing leadership, direction, coaching and monitoring of the collection staff and third-party collection partners to achieve results. Administer collection queues, set goals, coach, counsel, train, model behavior, provide incentives and feedback, evaluate and discipline collection staff.
• Actively coaches' collection staff on member conversations and communications through all methods, offering and reaching payment arrangements, and follow up on agreements kept and not kept. Coaches staff on the use of new technology, effective contact and collection approaches, workout plans, modifications, TDRs, risk based and effectiveness based member contact approaches, and legal steps to take and avoid in collections.
• Acts in capacity of collector as needed and to actively understand the work and issues of the team.
• Ensures working schedule of the team (IE: early evenings and weekends) yields the best result in terms of reaching members, which may mean flex-schedules for the team.
• Reviews member contact methodologies are successful and explores other methods of member contact that may be better than calling.
• Is versed and understands collection compliance regulations, legal and illegal member contact tactics and conversations and monitors the team to ensure compliance with laws and codes.
• Actively manages collateral recovery and disposition. Ensures compliance with state and federal regulations. Establishes timelines, process, and expectations for sending cures, repossession and disposition or return of collateral.
• Ensure accurate and timely reporting metrics are tracked and reported to senior management covering repossession, charge offs, calls, and promises made, monies collected and other actions to recover past due accounts and reduce losses. Develops and analyzes reporting for various risk categories (i.e. loan types, TDRs, Workouts, Unsecured loans, credit migration, monitoring of competing collection partners, pre-charge-off analysis, vendor effectiveness, etc.)
• Manage the credit union's foreclosure process for the residential and commercial real estate loan portfolio and the liquidation of repossessed vehicle collateral and residential properties owned to maximize recoveries for the credit union. Ensure investor contact and reporting is properly handled to ensure claims and guarantees are received.
• Works with CLO and AVP of Underwriting to recommend changes to members active lines of credit for loss control and recommends underwriting process enhancements to manage and reduce losses. Communicates feedback from collection staff for this purpose and supports ideas with data.
• Works with Chief Lending Officer and Chief Financial Officer to manage the impact of delinquencies and charge-offs to the Loan Loss Provision and monthly provision funding expense. Proactively predicts and communicates charge-offs for the next 60 - 90 days for the above purpose.
• Manages delinquent commercial loans to ensure proper risk classification and enforcement of loan covenants.
• Administer audits of collection and recovery activities with regulators and internal auditors to ensure satisfactory performance.
• Manages deposit account write-offs, establish metrics and best-practices around negative and charged-off deposit accounts.
• Manages third party vendor relationships related to collection, recovery credit reporting and consumer lending activities.
• Communicates with staff and members to resolve escalated lending issues or questions.
• Regularly holds department meetings as well as one-on-one coaching sessions with staff to review progress and individual performance.
• Carries out management responsibilities including budgeting, interviewing, hiring, and training employees, planning, scheduling, assigning, and directing work, and appraising performance, rewarding, and disciplining employees, addressing complaints, and resolving problems.

SUPERVISORY RESPONSIBILITIES:

Management of 3-5 members of the Collections Team. Provides leadership and ensures supervisory responsibilities are effectively and efficiently carried out in accordance with the organization's policies and applicable laws. Responsibilities include planning, assigning, and directing work; evaluating performance; and problem resolution

QUALIFICATION REQUIREMENTS:

Knowledge Of:

• IDFPR, NCUA and federal and state regulations regarding collection, repossession, bankruptcy, and recovery activity.
• Investor (FHLB, FNMA, FHLMC) forbearance and foreclosure requirements and processes
• Private mortgage insurance claim administration
• CFPB collection governance through Fair Debt Collection Practices Act (FDCPA)
• Collection Software Packages
• FICS Mortgage Servicer software
• Symitar Data Processing System
• State specific legal process for recovery efforts.
• State specific bankruptcy laws and practices

Ability To:

• Operate a PC using the following software applications Excel, Word, and Outlook
• Operate the Credit Union's core system financial software to access member accounts as well as the FICS or other servicing software to perform collection and foreclosure functions.
• Lead and manage staff efficiently and effectively.

EDUCATION, EXPERIENCE & TRAINING GUIDELINES:

Any equivalent combination of education and experience that provides the applicant with the knowledge, skills, and abilities, required to perform the job is acceptable. A typical way to obtain the knowledge and abilities would be:

Education

• Bachelor's degree (B.A.) or equivalent

Experience:

• Five or more years' experience in credit and collections for consumer, commercial and real estate loans including mortgages sold to FHLB, FNMA or FHLMC
• Knowledge of SBA reporting and servicing requirements
• Five or years management experience and/or training in a full-service financial institution.

License or Certificate:

• Bondable
• Acceptable Credit History
• Notary Public Certificate desired, but not required.

Equal Opportunity Employer/Protected Veterans/Individuals with Disabilities

The contractor will not discharge or in any other manner discriminate against employees or applicants because they have inquired about, discussed, or disclosed their own pay or the pay of another employee or applicant. However, employees who have access to the compensation information of other employees or applicants as a part of their essential job functions cannot disclose the pay of other employees or applicants to individuals who do not otherwise have access to compensation information, unless the disclosure is (a) in response to a formal complaint or charge, (b) in furtherance of an investigation, proceeding, hearing, or action, including an investigation conducted by the employer, or (c) consistent with the contractor's legal duty to furnish information. 41 CFR 60-1.35(c)