Credit and Collections Manager jobs in South Carolina

Description

This position is responsible for managing all collection activities of the credit union, under the supervision of the SVP of Strategy. This includes minimizing risk/losses through the collection of delinquent loans, negative depository accounts, repossession/foreclosure, disposition of repossessed collateral, and the resolution of other forms of membership default. The individual in this position will know all aspects of collection strategies, collections' technology, regulatory compliance, best practices, and possess a team-building management style. The position is responsible for recovery activities and strategies related to charged-off deposits and loans. As a manager the expectation will be to learn, promote and use all aspects of technology of systems to develop efficiencies operationally for improved member service. 

Requirements

• Responsible for complying with all laws, statues, rules, and regulations which govern the credit union, including but not limited to all components of the Bank Secrecy Act of the US Patriot Act 
•  Responsible for the effective and efficient administration of collections, recovery, and other activities that minimize the credit union’s losses
• The Collections Manager will ensure collection activities follow all state and federal regulations policies and procedures that govern the credit union
• Helps establish both short and long-term objectives and strategies which include legal, repossession, and all methods of member communication 
• Conduct an ongoing portfolio review and analysis process to make decisions regarding account blocking, closures, and credit line adjustments 
• When necessary work directly with delinquent members for restoring their accounts to good standing 
• Engage in discussions about potential financial arrangements, inform members about possible legal actions, and offer or suggest financial counseling to reach mutually acceptable payment arrangements 
• Review and analyze delinquent loan and negative share accounts for charge-off recommendations 
• Possess a deep understanding of bankruptcy, foreclosure, and legal activities relating to minimizing credit union exposures to losses 
• Oversee handling of bankrupt accounts, including representing the credit union at legal proceedings and negotiating with attorneys on bankruptcy and other legal matters 
• Oversee the repossession process, real estate foreclosures, and coordinating with third parties to maximize the value of collateral disposition and meeting benchmark goals 
• Recommends payment deferment, restructured loan options, modifications, workouts, and troubled debt restructurings 
• Promote and maintain a commitment to technology and system solutions for efficiencies and  productivity improvements which includes learning all aspects of the credit union’s current technologies and systems 
• Continuously explore innovative approaches to enhance performance which includes but is not limited to the use of technology, queue management, letters, text messaging, phone calls, and reporting 
• Responsible to effectively and efficiently supervise the department team members, ensuring optimal performance 
• Prioritize and monitor the activities of collectors to ensure that delinquent accounts and negative shares are managed effectively, efficiently, and creatively 
• Understands the credit union’s lending and collection philosophy 
• Oversees the Collections Department, guiding and nurturing the technical and professional growth of the team members 
• Responsible for enhancing processes and workflows and plays a pivotal role in achieving departmental strategic objectives 
• Develop KPIs and design metrics to measure the effectiveness and efficiency of the department’s processes and team members
• Demonstrates effective leadership by establishing clear objectives, delegating tasks, and maintaining open lines of communication with the team. Regularly convenes departmental and one on one staff meetings to disseminate updates on policy, procedures, and legal developments while actively addressing areas needing improvement 
• Establish and manage goals and incentives for the department 
• Devotes attention to ensuring the team is well-prepared, proficient, and utilized to their full potential. Identifies training requirements, both technical and professional, and implements tailored training programs. Additionally, conducts training sessions and facilitates cross-training as necessary 
• Maintains vigilant oversight of staffing levels, interviewing, and hiring. Completes performance appraisals, and when required, documents and enforces corrective measures 
• Responsible for establishing and maintaining effective communication and coordination with management and across departments 
• Actively participates in external and internal audits and regulatory examinations, as necessary 
• Participates in or leads project teams as appropriate 
• Develop and maintain relationships across all department within the credit union 
• Works under executive leadership 
• Responsible for developing and implementing Collections Department policies and procedures, and ensure they are being utilized for all aspects of the department 
• Responsible for demonstrating, promoting, following, and supporting the credit union’s core values, mission and culture through exceptional service to all members and also with vendors and financial professionals 
• Maintain knowledge of the credit union’s products and services 

Experience: Five to ten years of similar or related experience. 

Education: (1) A two-year college degree, or (2) completion of a specialized certification or licensing, or (3) completion of specialized training courses conducted by vendors, or (4) job-specific skills acquired through an apprenticeship program. 

Interpersonal Skills: Motivating or influencing others is a material part of the job. Outside contacts become important and fostering sound relationships with other entities (companies and/or individuals) becomes necessary and often requires the ability to influence and/or sell ideas or services to others. The role requires a significant level of trust or diplomacy.

Other Skills: Strong understanding of MS Office products Strong written and verbal communication skills

Physical Requirements: This position requires frequent bending, kneeling, and reaching at or below shoulder level. Some lifting is required (less than 50 pounds). 

Work Environment: General office environment