1ST MIDAMERICA CREDIT
Assistant Manager, Financial Recovery (Collections)
1ST MIDAMERICA CREDIT, East Alton, Illinois, United States, 62024
Job Description
Job Description
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1st MidAmerica Credit Union
Structured Compensation - Job Description
Assistant Manager, Financial Recovery
Data Year: 2024 Prepared On: 08/02/2024 Role:
To ensure the collection activity for delinquent accounts is conducted in compliance with internal policies and state and federal regulations. Assists with managing the department staff and inspiring the team to achieve goals by creating a highly engaged and collaborative team.
Essential Functions & Responsibilities: 30%Assign, monitor and supervise the workload in the Financial Recovery Department to ensure the smooth and efficient flow of work. Train and mentor staff on collection techniques to resolve issues positively. Establish and maintain effective employee
relations.15%Review
accounts where action beyond routine collection procedures must be approved or implemented. Handle complex situations. Resolve difficult or non-routine member issues.15%Contacts delinquent accounts by phone and mail; takes appropriate action to bring current. Provides required notices to all involved
parties.15%Analyzes
financial situation of delinquent borrowers; takes action to repossess collateral when arrangements to bring the loan current are
unsuccessful.10%Maintains
accurate files and reports on all collection activity. Prepares daily, weekly, and/or monthly reports on collection activity as directed.5%Informs management of trends in loan underwriting contributing to delinquent/charged-off loans.5%Provides information to legal counsel, outside agencies and appropriate parties as necessary. Testifies at legal proceedings as
required.5%Performs
other job related duties as assigned.
Performance Measurements: 1.To ensure timely contact of members with delinquent loans to inquire about re-payment intent. Initiate calls to members on the generation of the 30 day notice.2.To maximize the collection and/or recovery of credit union assets from delinquent and charged-off accounts.3.To assist manager develop a staff of well-trained and effective Collectors.4.To adhere to provisions as set forth in the Fair Debt Collection Practices Act (FDCPA) and insure collection activity is always within credit union policy and all relevant regulations.5.To provide informed, professional and accurate service to all members and staff. To troubleshoot and resolve inquiries in a timely, friendly and accurate manner.6.To collect 30/60/90 day delinquent accounts as assigned and in accordance within established timelines.7.To maintain accurate and complete records of all collection and recovery activity. To enter a concise, professional memo in the appropriate collection system(s).8.To maintain a dependable record of productivity, attendance and timeliness.
Knowledge and Skills: ExperienceThree plus years of collections or related experience. Prior management experience preferred. Mortgage servicing or collections experience a plusEducationA high school education or GED. Associates degree preferred but not
required.Interpersonal
SkillsWork involves much personal contact with others inside and/or outside the organization for the purpose of first-level conflict resolution, building relationships, and soliciting cooperation. Discussions involve a higher degree of confidentiality and discretion, requiring diplomacy and tact in
communication.Other
SkillsMust have good communication skills. Computer, Office, and other program and equipment knowledge is required. Disclaimer:
Must be able to work and travel to different credit union locations as determined by management. This Job Description is not a complete statement of all duties and responsibilities comprising the position.
Job Description
1st MidAmerica Credit Union
Structured Compensation - Job Description
Assistant Manager, Financial Recovery
Data Year: 2024 Prepared On: 08/02/2024 Role:
To ensure the collection activity for delinquent accounts is conducted in compliance with internal policies and state and federal regulations. Assists with managing the department staff and inspiring the team to achieve goals by creating a highly engaged and collaborative team.
Essential Functions & Responsibilities: 30%Assign, monitor and supervise the workload in the Financial Recovery Department to ensure the smooth and efficient flow of work. Train and mentor staff on collection techniques to resolve issues positively. Establish and maintain effective employee
relations.15%Review
accounts where action beyond routine collection procedures must be approved or implemented. Handle complex situations. Resolve difficult or non-routine member issues.15%Contacts delinquent accounts by phone and mail; takes appropriate action to bring current. Provides required notices to all involved
parties.15%Analyzes
financial situation of delinquent borrowers; takes action to repossess collateral when arrangements to bring the loan current are
unsuccessful.10%Maintains
accurate files and reports on all collection activity. Prepares daily, weekly, and/or monthly reports on collection activity as directed.5%Informs management of trends in loan underwriting contributing to delinquent/charged-off loans.5%Provides information to legal counsel, outside agencies and appropriate parties as necessary. Testifies at legal proceedings as
required.5%Performs
other job related duties as assigned.
Performance Measurements: 1.To ensure timely contact of members with delinquent loans to inquire about re-payment intent. Initiate calls to members on the generation of the 30 day notice.2.To maximize the collection and/or recovery of credit union assets from delinquent and charged-off accounts.3.To assist manager develop a staff of well-trained and effective Collectors.4.To adhere to provisions as set forth in the Fair Debt Collection Practices Act (FDCPA) and insure collection activity is always within credit union policy and all relevant regulations.5.To provide informed, professional and accurate service to all members and staff. To troubleshoot and resolve inquiries in a timely, friendly and accurate manner.6.To collect 30/60/90 day delinquent accounts as assigned and in accordance within established timelines.7.To maintain accurate and complete records of all collection and recovery activity. To enter a concise, professional memo in the appropriate collection system(s).8.To maintain a dependable record of productivity, attendance and timeliness.
Knowledge and Skills: ExperienceThree plus years of collections or related experience. Prior management experience preferred. Mortgage servicing or collections experience a plusEducationA high school education or GED. Associates degree preferred but not
required.Interpersonal
SkillsWork involves much personal contact with others inside and/or outside the organization for the purpose of first-level conflict resolution, building relationships, and soliciting cooperation. Discussions involve a higher degree of confidentiality and discretion, requiring diplomacy and tact in
communication.Other
SkillsMust have good communication skills. Computer, Office, and other program and equipment knowledge is required. Disclaimer:
Must be able to work and travel to different credit union locations as determined by management. This Job Description is not a complete statement of all duties and responsibilities comprising the position.