Collections Manager, Branchburg, NJ
hace 7 días
Somerville
Job Description Financial Resources FCU has been designated one of the Best Places to Work in NJ since 2022! At FRFCU, we are "putting people first" and that starts with our employees! Come see why our team members have voted us for Best Places to Work in NJ for 4 years in a row! Financial Resources is a not-for-profit federal credit union with locations in Somerset, Hunterdon, Middlesex, Union and Hudson Counties. With a history of serving our members for more than 100 years, we have grown to more than $650 million in assets serving more than 29,000 members with 6 public access branches and a team of 100 employees. We are available Nationwide! We are recruiting for a Member Solutions Manager to join our Collections department to assist our membership, and the Credit Union, with resolving concerns that lead to delinquent loan payments as well as assist with deposit accounts with balance issues. The candidate must have worked in a bank or credit union, or collected for a bank or credit union, and must have experience collecting on SBA loans. The Member Solutions Manager is responsible for collection activities for various areas within the organization such as, consumer, real estate and commercial loans, significant negative deposit balances (including fraudulent items) and recovery of charge-offs. The manager is responsible for the review and collection of all past due accounts to achieve target delinquency goals with lowest possible loss ratios and minimal risks, recommends extensions, charge-offs, repossessions, foreclosures and liquidations. Responsible for developing collection procedures and amending as needed to ensure compliance with regulatory requirements, the successful Manager should be a change agent and be able to work independently with minimal guidance. We are looking for someone who exemplifies the following traits: • Caring, • Initiative, • Ethics, • Job Knowledge, • Self-Development, • Teamwork, • Conflict Management, • Problem solving, • Employee Development, • Results Driven Some of your essential duties will include, but are not limited to: • Contact members by telephone to solicit payments, determine reason for overdue payments and records all collection efforts into the collection systems., • Responsible for delinquency, negative balances, fraud, and collection follow-up programs for effective account control., • Responsible for remedial action on secured and unsecured delinquent accounts; including repossessions, sale of collateral, judgments and collection of deficiency balances by identifying assets that can be seized or garnishing wages., • Responsible for assisting member with mitigation options prior to initiation of foreclosure proceedings. Work with corporate attorney throughout the foreclosure process., • Ensures Collections and Charge-off policies and procedures are adhered to as outlined in the Credit Union’s Policy and Procedure Manual., • Recommends modifications to all Collection Policies and Procedures., • Responsible for performing skip trace functions., • Represents the Credit Union regarding legal matters pertaining to collection matters including MBL and SBA., • Prepares required reports or action plans for Chief Lending Officer (CLO) that identify trends and potential risk exposures. Keeps the CLO, VP’s in varying departments, Lending and Risk Management aware of any noted underwriting concerns or compliance issues., • Recommends loan workouts and restructures Short Pay-offs, Loan Modification; Deed in Lieu of Foreclosure to the CLO (Hardship situations included), • Timely response to member bankruptcy notifications to ensure collateral security., • Provide timely follow-up on payment arrangements., • Assists in the development of the collection department budget., • Knowledge of Mortgage, Consumer and Commercial Banking – specifically as it relates to Financial Privacy, Fair Lending, Collections, FDCPA, FCRA, Bankruptcy, Mitigation, Foreclosure, Payoffs and Assumptions., • Responsible for tracking charge-offs and recoveries and developing monthly (or other) reports for management purposes., • Tracks and reports on Key Performance Indicators (KPI’s) as defined by the CLO., • Prepares written analysis for large charge-off balances to ensure clarity and completeness for Executive Management., • Research members’ credit union accounts to determine availability of funds in order to transfer and cover delinquent balances by exercising right to offset, • Responsible for the maintenance and queue programming of the CarmPro Collections Module., • Directly manages Member Solutions employees., • Creates and prepares weekly and monthly delinquency reports, • Proactively identifies and implements technology-driven solutions to streamline processes and enhance operational efficiency., • A competitive salary and opportunity for a performance based annual bonus, • Generous paid time off, • Health, dental and vision plans for employees and their families, • Health Savings and Flex Spending Accounts, • 401K with employer match and potential for additional profit-sharing contributions, • Paid volunteer days, • Five years of progressive collection experience with at least one-year in a collections Managerial role., • Bachelor’s Degree or related work experience in lieu of degree, • Posses comprehensive and diverse knowledge of all phases of loss prevention to include bankruptcy, lawsuits, charge-offs, skip tracing and effective collection strategies., • Thorough knowledge of compliance, laws, rules, regulations and Credit Union Policies and Procedures relevant to department function., • Working knowledge of the Small Business Administration (SBA) collection processes and Standard Operating Procedure SOP., • Effective organizational skills, including multi-tasking, with a high degree of computer literacy, especially Excel and knowledgeable on automated collection systems. If this sounds like the right opportunity for you, we would welcome the chance to speak with you.
