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Empower Federal Credit Union · 2 weeks ago

Vice President Collections Strategy & Member Solutions

Syracuse, NY

Full-time

Hybrid

Mid, Senior Level

$141K/yr - $235K/yr

7+ years exp

Empower Federal Credit Union is dedicated to positively impacting its members by providing affordable financial services. The Vice President of Collections Strategy and Member Solutions is responsible for managing the organization's collections, recovery, and loss mitigation functions while ensuring member-centric solutions and regulatory compliance. This role emphasizes strategic leadership, operational excellence, and team development within a hybrid work environment.

BankingFinanceFinancial ServicesNon Profit

Growth Opportunities

Responsibilities

Lead the overall strategy, design, and execution of collections, loss mitigation and recovery programs across multiple loan products (e.g., auto, mortgage, credit card, personal, commercial real estate loans) and all delinquency stages, optimizing cure rates and liquidation

Identify and drive operational efficiencies through process re-engineering, RFP processes for new technology, and system integration, ensuring cost-effective and compliant operations

Build the legal collections strategy from the ground up, including the selection, onboarding, and management of attorney networks or law firms

Stand up a debt sale program, establishing all operational processes, conducting partner due diligence, and performing financial modeling to optimize recovery value

Partner with Product, Risk, and Analytics to build sophisticated contact strategy capabilities, leveraging member segmentation, channel optimization (digital, phone, mail), and rigorous test-and-learn approaches

Oversee the collection of past due consumer, indirect, commercial, and residential mortgage loans, including restructuring or liquidation of collateral on non-accrual and classified loans

Proactively secure and manage the disposition of repossessed collateral for all secured loans (e.g., vehicles, shares, stocks, etc.)

Own vendor and Business Process Outsourcing (BPO) management across pre- and post-charge-off collections; set performance expectations, monitor detailed scorecards, and drive accountability for recovery goals

Establish, monitor, and report on rigorous KPIs for all recovery programs, including cure rates, liquidation rates, Right Party Contact (RPC) rates, Quality Assurance (QA), and compliance metrics. Implement results metrics and develop accountability standards

Be the institutional expert in managing and reducing risk and charge-offs. Partner closely with Compliance, Legal, and Risk to ensure absolute adherence to all applicable state and federal regulations, including FDCPA, Reg F, and UDAAP, mitigating regulatory exposure

Develop and monitor budgets for Collections and Loan Operations. Measure actual results against budget projections and recommend charge-offs for appropriate accounts

Recruit, train, mentor, and develop a team that reflects our core values, as well as manage staffing levels and associated expenses. Ensure you are continuing to develop and engage a high-performing team of Collections Managers and team members

Conduct annual performance reviews and work with assigned team members to establish individual goals. Ensure all groups reporting to this role are adequately staffed, trained, and supervised to meet departmental requirements efficiently

Collaborate across the organization with Operations, Risk, Finance, and Data & Analytics teams to align collections strategy seamlessly with credit policy, portfolio performance goals, and financial planning objectives

Influence stakeholders and the Executive Team with clear, concise, and data-driven insights and recommendations on portfolio health, recovery performance, and strategic direction

Represent the collections organization in key cross-functional forums focused on enhancing member experience, defining regulatory strategy, and managing portfolio risk

Perform all other duties as assigned by CLO and Executive Leadership

Qualification

Collections StrategyOperational ExcellenceRisk ManagementRegulatory ComplianceFinancial OversightVendor ManagementData AnalyticsTeam LeadershipEmpathyExecutive CommunicationCommunicationAdaptabilityStrategic Thinking

Required

7 to 10+ years of progressive experience in Collections and Recoveries Strategy, Operations, or Risk Management within the financial services industry, preferably in a credit union or banking environment

Deep expertise in strategic leadership with a track record of building, managing, and optimizing multi-channel collections strategies

Proven experience successfully deploying new technology within the collection's lifecycle, including leading RFP and vendor selection processes

Demonstrated ability to identify operational efficiencies and translate data/analytics into actionable strategies that reduce risk and charge-offs

Solid understanding of regulatory requirements governing collections, including FDCPA, Reg F, and UDAAP

A bachelor's degree in Business Administration, Finance, Accounting, Economics, or a related field is preferred

Candidates with equivalent formal certifications or professional experience in collections, financial services, or related fields are also encouraged to apply

Ability to attend in-person events (branch visits, rallies, employee meetings) as needed

Benefits

Medical and Dental Insurance

401K with Employer Match

Holiday Pay

Paid Time Off

Company

Empower Federal Credit Union

Empower Federal Credit Union is a full-service financial institution that provides savings, loan, and transaction services to members in Central New York, and in eight counties in New York State.

Founded in 1939

Syracuse, New York, USA

201-500 employees