Financial Collections Manager

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Fort Lauderdale, FL

Job status
Full time
$71,385.60 – $102,000.00 Annually
Job description
Bright Star Credit Union is now seeking a Collections Manager to join our Collections Department!

You must have a financial background working at a bank or a credit union in order to be considered.

This position is eligible for a Management bonus and offers 3 weeks of paid vacation time off from day 1 of employment!

As the Collections Manager your primary role is to make a difference in our members’ financial lives. This is accomplished by providing the highest quality of service to both internal and external members. You will be the leader and primary strategist for member-centric problem resolution, applying technology, people and process solutions, administering performance expectations for the Member Resolution team, while hiring, training, coaching and motivating the collections team to achieve a superior member experience, present options and solutions to our members, and ensure quality and compliant collection and member resolution activity.
Education requirements
• Bachelor’s degree
Experience requirements
• 10 years of similar or related experience. Must have 5 years of Collection Management experience.
• A significant level of trust and diplomacy is required, in addition to courtesy and tact. Work involves extensive personal contact with others and/or is usually of a personal or sensitive nature.
• Must be able to motivate or influence others. Outside contacts become important and fostering sound relationships with other entities becomes necessary.
• Must have knowledge of underwriting guidelines, Collection Policy, and Accounting related policies.
• Set the Collection Strategy for the credit union and the mortgage, home equity, Business and Commercial Loans, secured and unsecured loans, and credit card portfolios.
• Provide feedback to the VP of Lending and Lending Manager(s) for guideline and policy changes in the credit union’s lending standards.
• Determine the strategic positioning of the technology, processes/workflows, and people utilizing data-driven information for the credit union.
• Supervise daily collection activity of collectors through team leaders or assistant manager(s) to ensure productivity levels are achieved and accounts are thoroughly worked to regulatory requirements and company policies, guidelines and procedures.
• Prepare daily, weekly, monthly delinquency analysis and reports, loan and credit card grading, monthly charge offs for loans, credit cards and collection expenses and report the results directly to the VP of Lending/Collections.
• Work collaboratively with assistant manager, team leader and staff to set up and manage collection queues in Akcelerant to ensure collectors are working assigned accounts to achieve superior member experience, maximum efficiencies and collect all collectable accounts.
• Provide on-going training and coaching to staff to ensure the highest quality collection activity.
• Provide outstanding services to each internal and external member as defined by the credit union’s Service Standards and Promises.
• Review severely delinquent consumer, auto, business and commercial loans and credit cards to formulate collection strategy and tactics including assigning accounts to collection agencies or attorneys as directed by VP of Lending/Collections.
• Oversee and manage third-party vendors and attorneys to company standards.
• Lead Loss Mitigation Monthly Meetings and contribute to the Risk Management Committee.
• Itemize Enterprise Risk Management Risks and Mitigants and determine how to prevent and/or mitigate risks to the credit union.
• Demonstrate Leadership qualities and capabilities to lead the collection staff toward the desired behaviors to our members and internal clients.
• Optimize the collections systems workflows and efficiencies.
• Perform collection special projects as assigned by the Loss MIT Committee and/or VP of Lending/Collections.
• Meet all legal, regulatory, and policy requirements including a working knowledge of Fair Debt Collection Practices.
• Maintain comprehensive knowledge of the State and Federal Collections Laws, Bank Secrecy Act, Customer Identification Program, USA Patriot Act, OFAC, Fair Lending and Credit Card Act.

Maintain knowledge of the following with training:
• BSA Compliance – every employee is required to uphold the credit union’s
compliance with the Bank Secrecy Act and anti-money laundering policies and procedures. Specific functions with BSCU will take into consideration the awareness of unusual or suspicious activity that is relevant to the department.
• In addition to any other assigned training courses, online BSA and OFAC
courses must be completed at least annually, as made available by the Training and/or Compliance Department.
• Strong organizational skills.
• Strong communication and coaching skills.
• Ability to influence others through effective leadership.
• Ability to sit; use hands to finger, handle, or feel and talk or hear.
• Ability to walk and reach with hands and arms, stand and stoop, kneel, crouch, or crawl.
• Ability to frequently lift and/or move up to 70 lbs.

The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

We are an Equal Opportunity Employer.