Credit and Collections Director leads the overall credit function. Designs and implements processes to improve cash flow and reduce receivables. Being a Credit and Collections Director develops policies regarding the investigation of customers, extension of credit lines, and collections. Consults with current and future clients regarding their level of credit. Additionally, Credit and Collections Director oversees the negotiation and course of action taken for overdue accounts. Typically requires a bachelor's degree. Typically reports to top management. The Credit and Collections Director manages a departmental sub-function within a broader departmental function. Creates functional strategies and specific objectives for the sub-function and develops budgets/policies/procedures to support the functional infrastructure. Deep knowledge of the managed sub-function and solid knowledge of the overall departmental function. To be a Credit and Collections Director typically requires 5+ years of managerial experience. (Copyright 2024 Salary.com)
POSITION PURPOSE
To protect the assets of the credit union by collecting those accounts which have become delinquent and to minimize losses to the credit union and its members.
ESSENTIAL FUNCTIONS AND BASIC DUTIES
(Primary or most important functions performed in this position in order of priority.)
(1) Monitor and collect accounts assigned which are past due, submitting reports as scheduled.
(2) Maintain accurate reports of all attempts to contact accounts or co-maker of accounts.
(3) When appropriate work out a mutually acceptable payment schedule which would protect the credit union’s interest and the credit of the member.
(4) Recommend remedial collection action (including legal action) when necessary to Legal/Repossession Specialist
(5) Refer all bankruptcies to the Bankruptcy Specialist and follow the regulations as established by law and Carter Federal policies and procedures.
(6) Establish skip-trace tile and schedule regular follow-up.
(7) Assist in area as directed by manager.
(8) Seek opportunities to enhance skills and value to the credit union and make suggestions for improvements.
(9) Have a working knowledge and understanding of Carter Federal Credit Union’s operational policies and procedures, by-laws, organization and philosophy.
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Job Type: Full-time
Pay: $13.50 - $16.00 per hour
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Work Location: In person
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