VP of Collections

This is a fully remote position, open to applicants in Alaska, +7 more states.

📋 Description

• Manage the operations of the Collections Department.

• Spearhead the creation, implementation, and direction of Collections programs and processes.

• Offer strategic guidance, support, and direction for collection initiatives across consumer, real estate, business, and commercial loan products.

• Regulate delinquency and charge-offs while delivering precise Known Loss details.

• Supervise the liquidation of repossessed and foreclosed assets to optimize recoveries.

• Develop and implement policies, processes, and procedures for collection, modification, and charge-off activities.

• Oversee daily operations of the Collections Department.

• Establish, monitor, and manage employee performance standards and service levels.

• Lead, mentor, train, develop, and assess team members.

• Manage departmental training, cross-training, counseling, disciplinary actions, and performance reviews.

• Oversee loan modification processes to ensure compliance.

• Conduct monthly trend analysis, charge-off reports, known losses, Loan Quality Trend reporting, and negative share write-off reporting.

• Participate in the Credit Risk Committee and prepare the monthly agenda.

• Propose collection strategies and process enhancements based on analysis, market trends, and best practices.

• Manage accounts assigned to collection agencies, small claims, and civil litigation.

• Review bankruptcy accounts and monitor associated reports and agreements.

• Support continuous improvement initiatives while representing the Credit Union in a professional manner.

• Achieve delinquency and charge-off ratios set by the board of directors.

• Safeguard confidential member information and sensitive data.

⛳️ Requirements

• 7–10 years of practical collection experience, encompassing consumer secured and unsecured loans, real estate, and commercial/business loans.

• Management experience within a financial institution.

• Strong understanding of bankruptcy laws, foreclosures, and repossessions.

• Proficient in PC-based word processing, spreadsheet, and productivity software.

• Comprehensive knowledge of loan servicing and collection laws and regulations, including FDCPA.

• Business acumen and financial insight, including cost/benefit analysis, departmental profitability, and balancing member needs with financial considerations.

• Capability to make decisions, propel projects and individuals forward, and achieve desired results.

• Excellent written and verbal communication skills, including the ability to create and deliver presentations to diverse groups.

• Skill in explaining concepts and motivating others, negotiating effectively, and managing conflicts.

• Customer-centric approach with the ability to balance individual needs against organizational priorities.

• Ability to inspire direct reports and project team members, fostering empowerment.

• Competence in assessing individuals' strengths and weaknesses.

• Ability to organize teams and activities, streamline complex processes, and optimize resources.

• Bachelor’s degree in Business Administration or a related field.

• Professional certification or graduate degree is a plus.

• Experience in a Credit Union or banking environment is preferred.

🏝️ Benefits

• Medical coverage.

• Dental insurance.

• Vision plans.

• Life insurance.

• Flexible Spending Account.

• 401(k) matching contributions.

• Paid time off.

• Training opportunities provided.

• Tuition reimbursement.