The primary function of this position is to assist Alltru Credit Union to achieve our mission of saving member’s money, making member’s money and saving member’s time. One of the primary means to achieve this end is to develop a highly effective team of employees and develop each employee to their highest potential through coaching and leadership. Responsible for ensuring that outstanding service is delivered to both internal and external members. A key component of this service is to identify the financial needs of the member and recommend an appropriate credit union solution.
In addition, the Director of Account Resolutions is responsible for providing strategic leadership and operational oversight of all Credit Union collections and recovery across all loan types. This role ensures the protection of the credit union’s assets through effective delinquency management, loss mitigation, and recovery processes. Additionally, this role is responsible for ensuring compliance with state and federal laws, improving efficiencies and performance, and supporting the strategic goals of the credit union.
Supervises: Account Resolution Manager
MAJOR RESPONSIBILITIES:
Leadership
1. Responsible for delivering a high level of member service to internal and external members in alignment with the credit union’s Service Promises.
2. Promotes an atmosphere and models the behavior that all Alltru employees think critically to resolve issues and suggest improvements or new ideas.
3. Conducts regular staff meetings to discuss department performance, areas that need improvement, changes in procedures, new developments or services and to present general information.
4. Establishes performance expectations for staff and department and monitors results. Coaches and counsels staff, as necessary. Recommends the discipline and/or discharge of staff, while maintaining required personnel documentation.
5. Develops each employee to their highest potentially identifying their areas for improvement and appropriately coaching, training, or correcting the employee’s performance.
6. Meets individually with direct reports on a regular basis to review performance and address areas of deficiency if necessary.
7. Networks with peers and credit union organizations and maintain professional vendor relationships.
8. Performs job duties within our bylaws, regulations, Board of Directors policies, established internal and external service standards and our work procedures.
9. Attends and participates in Credit Union training and meetings.
10. Perform other duties or special projects needed to help drive our Vision, fulfill our Mission, and abide by our Core Values.
Collections and Recovery Operations
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Ensure efficient recovery operations while maintaining compliance with federal and state regulations.
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Directs and manages all aspects of loan collection and recovery across all loan types.
- Develop and implement collection strategies to maximize recovery of outstanding debts.
- Supervise all charge off activities, including pre and post charge off accounts.
- Oversee all repossession efforts to ensure compliance and consistency.
- Responsible for achieving net charge off goals and meeting delinquency metrics.
- Maintain accurate records of all collection activities and communications.
- Manage the recovery of charged-off accounts, including communication with attorneys or collection agencies as needed.
- Guide loan counselors on ways to assist members experiencing financial hardships by utilizing products such as skip-a-pay, loan extensions, refinance options, relief programs, etc.
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Ensure secure and proper handling of all legal proceedings.
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Collaborate with other departments to ensure accurate reporting, mitigate risk, and coordinate member communication efforts.
- Networks with peers and credit union organizations and maintains professional vendor relationships.
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Perform other duties as assigned.
Data, Systems, and Reporting
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Proficient in utilizing data to track trends, forecast losses, and facilitate process improvements.
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Collaborate with the data insight team to optimize automation, workflows, and reporting dashboards.
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Monitor delinquency, charge-offs, and recovery performance while recommending strategies to minimize losses and improve efficiency.
- Ensure accurate and timely collection of data across core banking systems.
- Responsible for the reporting of delinquency, recovery rates, promise to pay performance, and other metrics to support our key performance indicators.
QUALIFICATIONS:
Education/Experience
Bachelor’s degree in Business Administration plus five or more years’ experience in a hands-on collections management role is required. Master’s degree may substitute for a portion of the management experience. Previous experience in a collections role in the financial services industry is preferred. Knowledge of Symitar Episys is desired.
Knowledge/Skills/Abilities
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Extensive knowledge of collection policies and procedures. Knowledge of all applicable lending and collection laws and regulations required.
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Extensive knowledge of credit union operations, products, services, policies, procedures, and regulations.
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Must possess a strong service orientation.
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Professional, well-developed interpersonal skills necessary for leading, managing and developing staff.
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Strong written and oral communication skills with the ability to communicate effectively.
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Must be highly organized with attention to detail, able to work independently, and as a team players.
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Ability to self-initiate areas of opportunity, make recommendations for improvement, and follow up as necessary to achieve desired results.
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Ability to respond appropriately to common inquiries or complaints from members, regulatory agencies, or members of the business community.
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Ability to develop short and long-term objectives, operating plans and policies
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Ability to effectively lead and develop leaders
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Ability to read, analyze, and interpret common financial reports and legal documents
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Ability to define problems, collect data, and draw valid conclusions to solve problems
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Ability to interpret an extensive variety of instructions in mathematical or diagram form and deal with several abstract and concrete variables
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Ability to project a high degree of professionalism and positive image of themselves and the credit union
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Ability to speak and present information effectively in front of large groups
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Ability to maintain highly confidential information
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Ability to resolve interpersonal conflict and miscommunications
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Must be able to be bonded.
