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The Company
At Scott Credit Union, we truly value our employees. While our buildings convey the Scott Credit Union name that our members know to trust, it’s the faces inside that make it much more than a place of business. These faces represent the promise that we will help each member make the most of their money, in the simplest manner possible- all while getting to know members personally by name and not by a number. Credit unions were built upon a “people helping people” philosophy. Not only do our employees help their members and fellow teammates, but they are also dedicated to helping the local communities that support us.
At Scott Credit Union, we encourage and incent our employees to volunteer in our local communities that so diligently support us. If you are an energetic, hard-working individual with a passion to help others, we encourage you to explore career opportunities with the Scott Credit Union team.
Key Pointers:
- Founded in 1943, Scott Credit Union is a full-service financial institution providing financial services for individuals and businesses, including free checking accounts with interest, ATMs, credit and debit cards, new and used vehicle loans, mortgage loans, unsecured lines of credit, savings products, online banking, free online bill paying and much more.
- Scott Credit Union, like all credit unions, is a not-for-profit financial cooperative that offers banking services. When someone opens an account with a credit union, they become a member and an owner.
- Conducting financial business with a credit union saves consumers money. Scott Credit Union offers similar products and services to what the conventional financial institutions have, but we do so with our members’ best interest in mind.
- Your experience with Scott Credit Union is about more than money, it’s about you getting the most value for your money and reaching your financial goals.
Purpose of the Position
Provides leadership and strategic direction to the collection and loss mitigation activities of the credit union related to the consumer, credit card, commercial and mortgage portfolios. Is responsible for identifying ways to decrease delinquency and charge-offs while increasing recoveries. The Collections Manager is responsible for overseeing collection efforts by analyzing the credit quality of the portfolio, managing delinquent accounts, and implementing collections strategies. The Collections Manager is responsible for directing and motivating the team to meet organizational goals and will also collaborate with key stakeholders to achieve organizational objectives. This key role oversees all aspects of SCU’s collection and recovery efforts and initiates programs and procedures to adjust to the changing economic environments.
Duties must be accomplished in compliance with federal and state laws and in accordance with the credit union’s policies and procedures and with focus on SCU’s Purpose, Mission, Vision, and Values
Key Responsibilities
- Directs and monitors the collection activity for the credit union to ensure that the credit union meets established delinquency goals and objectives, while at the same time trying to help the membership maximize its experience with the credit union.
- Exhibit strong leadership presence by engaging staff in modeling and setting clear expectations. Maintain a high level of cooperation and rapport with staff to ensure accurate and efficient operations and service.
- Monitor progress of department staff and mentor staff to ensure achievement of performance goals.
- Maintains a systematic process for identifying delinquent accounts of borrowers and establishes methods and procedures for immediately responding to delinquent situations with collection activity.
- Develops, coordinates, and administers loss mitigation strategies to minimize credit losses in the consumer and residential portfolios.
- Monitor tracking systems for all bankruptcies, suits, foreclosures, and other post charge off activity. Monitor collection practices and procedures and maintain a written procedures manual regarding all collection functions including garnishments, judgments, and other legal proceedings.
- Implements reporting and monitoring of Key Performance Indicators.
- Stays current with all provisions of the Federal and State bankruptcy codes and regulations as well as repossession and collection laws.
- Monitors and communicates on the department’s performance against operational goals and objectives to senior management and the Board of Directors.
- Maximize recovery and collection of Credit Union assets from delinquent and charge-off accounts.
- Prepare monthly executive reporting.
- Enhances the operations of the department through process improvements and automation to improve effectiveness and employee productivity.
- Recommends accounts for charge-off.
- Directs activities of the unit to ensure effective management and maintenance of all assigned accounts; including compliance with all environmental and regulatory requirements.
- Responsible for being knowledgeable of applicable state and federal collection and repossession laws and making recommendations to management, when necessary.
- Responsible for vendor management and relationships.
- Responsible for overseeing the network of repossession companies to be utilized when a vehicle is placed for repossession, along with selling or redemption of vehicles.
- Responsible for evaluating and maintaining a network of collection agencies to place charged-off accounts.
- Ensures that appropriate technology is in place to support department operations.
- Duties, responsibilities, and activities may change at any time with or without notice.
SUPERVISORY RESPONSIBILITIES:
Supervises the employees in the Collections Department. Is responsible for the overall direction, coordination, and evaluation of these units.
Carries out supervisory responsibilities in accordance with the organization’s policies and applicable laws. Responsibilities include but are not limited to; recruitment and selection, training employees, planning, assigning, and directing work; appraising performance; rewarding and disciplining employees; addressing complaints and resolving problems, seeking Management’s assistance when necessary; attending Supervisory meetings as well as any ongoing training sessions and communicate new information to the staff.
Provide direction to effectively coach and motivate employees. Provide direction and coordination of communication and teamwork with branches and departments to support the credit union’s goals.
PERFORMANCE STANDARDS:
- Ability to work with senior executives and other staff. Maintains strict confidentiality of records and information. Uses diplomacy and tact in dealing with persons from outside and inside the organization. Able to work with minimal supervision, be a self-started, and be detail-oriented. Must be professional in actions and appearance, organized and dependable. Position requires excellent verbal and written communication skills and a positive attitude. Regular, predictable attendance is required.
- Responsible to keep the following confidential as it pertains to SCU, member and employee information and is defined as the following:
- Financial record information, which includes but is not limited to the information contained in a document granting signature authority over an account, a statement, ledger card or other record on any account which shows each transaction in or with respect to that account, a check, draft or money order drawn on a financial institution or other entity or issued and payable by or through a financial institution or other entity or other item containing information pertaining to any relationship established in the ordinary course of business between SCU and its members;
- SCU business information, such as member lists, pricing, purchasing activity, business strategies or techniques, operational data, marketing materials and methods used to develop and maintain member relations.
Education
- Bachelor’s degree or equivalent work related experience.
- Five years’ work experience in a financial institution or Five years’ experience as a Collections Manager.
- Experience with automated collections systems and Microsoft® Office products.
- Working knowledge of federal bankruptcy laws as well as state and federal lending regulations.
- Experience with Akcelerant/Temenos, and Symitar
Compensation
- Base salary and discretionary bonus
SE# 510642591
Scott Credit Union