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Black Hills Federal Credit Union · 1 week ago

Collections Manager

Rapid City, SD

Part-time

Onsite

Senior Level

5+ years exp

Black Hills Federal Credit Union is committed to improving lives through a cooperative structure that emphasizes mutual assistance. The Collections Manager oversees the Collections Department, ensuring compliance with regulations, developing strategies to minimize delinquency, and leading the team to enhance performance and productivity.

AccountingConsultingCredit BureauFinanceFinancial ServicesLending

Growth Opportunities

Responsibilities

Supervise day to day operations of the Collection Department, ensuring efficient and effective operations

Develop and implement collection strategies to minimize delinquency rates and recover outstanding debts

Lead the collections team by setting clear expectations, fostering a collaborative environment, and ensuring alignment with the department's strategic goals

Implement and monitor processes to maximize team productivity, ensuring that all team members are meeting or exceeding performance standards

Regularly review and assess both department and individual performance metrics, identifying areas for improvement and recognizing achievements

Conduct regular observations of team members' work, providing constructive feedback and coaching to support their professional development and enhance overall team performance

Monitor collection activities and performance metrics, providing regular reports to executive leadership

Ensure compliance with all relevant regulations and policies

Work with third parties, including legal, to ensure alignment and effective recovery strategies and mitigation

Recommend accounts to be charged-off to the Asset Management Committee/ALCO as well as provide recommendations for at-risk loans that need to be monitored or appropriately prepared for

Prepare monthly charged-off loan payment report for Management and Board of Directors

Ensure all collection activities comply with legal and regulatory requirements

Conduct regular audits and reviews to ensure compliance

Prepare and present regular reports on collections performance to executive leadership

Analyze data to identify trends, risks, and opportunities for improvement

Utilize data-driven insights to refine strategies and improve outcomes

Responsible for the development of department budget consistent with the strategic plan and overall budget

Review and update policies to ensure best practices, regulatory compliance, and appropriate risk tolerance levels, as appropriate

Evaluate vendor performance and the deliveries of their services, maintaining strong relationships. Collaborate with internal and external teams regarding system integration to ensure seamless operations and alignment with organizational goals

Stay updated on changes in regulations and adjust strategies accordingly

Other duties as assigned

Qualification

Regulatory complianceAnalytical skillsLeadershipData analysisConflict resolutionCoachingDevelopmentFinancial data interpretationCommunication skillsTeam collaboration

Required

Strong knowledge of regulatory requirements and compliance

Excellent leadership, communication, and analytical skills

Ability to work collaboratively with leadership and cross-functional teams

Expert knowledge of laws and regulations affecting lending and collections

Strong written and verbal communication skills, with an expert knowledge of conflict resolution

Advanced knowledge of organization's policies/procedures and Credit Union's service philosophy

Advanced knowledge of the Credit Union's products and services

Expert knowledge of repossessions, bankrupt and credit counseling accounts. Be able to counsel members and determine workable payment arrangements

Knowledge of the legal, insurance, regulatory, economic, competitive, and technology environments that may affect the collections operation function

Ability to understand and follow complex written and oral instructions

Ability to prepare and maintain confidential records and reports

Ability to analyze statistics and financial data

Ability to communicate with all levels of staff and management in a clear, concise, and professional manner

Ability to convey information clearly, demonstrate active listening and facilitate an open dialog

Ability to accept and communicate the change process through organizational growth and directional movements

Ability to manage challenging performance behaviors with a calm and measured approach to a resolution

Ability to accept feedback in a professional and productive manner and implement any necessary adjustments

Ability to develop and write effective and clear procedures

Demonstrated ability in leadership role coaching, developing and training staff

Ability to manage multiple projects in a high paced and demanding environment

Ability to analyze data and situations to identify problems, and implement solutions with attention to detail, professionalism and accuracy

Bachelor's degree in Finance, Business Administration, or related field preferred, but not required

Minimum five years of experience in a collections role, or more than five years of relevant experience in a related field provided candidate has held equivalent responsibilities

Formal training should be complemented by ongoing professional development

Advanced ability for high-conflict conversations with members and vendors