Dover Federal Credit Union
MEMBER SOLUTIONS MANAGER (COLLECTIONS MANAGER)
Dover Federal Credit Union, Dover, Delaware, United States, 19904
MEMBER SOLUTIONS MANAGER (COLLECTIONS MANAGER)
Join to apply for the
MEMBER SOLUTIONS MANAGER (COLLECTIONS MANAGER)
role at
Dover Federal Credit Union
The Member Solutions Manager is a pivotal asset in the Credit Union's risk management and collection endeavors. Through exemplary leadership, the Manager guides a team of Collection Specialists, ensuring a seamless collections process and collaborating with leadership to establish best practices. Additionally, the Manager spearheads the development and endorsement of advanced Member Solutions and recovery processes, effectively minimizing organizational losses by reducing delinquency levels and write-offs, while simultaneously increasing recoveries. It is the Manager's responsibility to oversee Member Solutions in conjunction with the Sr. Member Solutions Manager to drive process enhancements, efficiencies to elevate both member satisfaction and the credit union's loss prevention strategies.
Essential Functions
Develop and execute strategies to improve collections efforts and team performance
Design and implement collection, outsourcing, and servicing strategies
Manage collections processes, third‑party collections, and outside vendors
Analyze billing and collections data to identify trends and areas for improvement
Lead, mentor, train, and evaluate a collections team
Ensure compliance with debt collection laws and regulations
Stay updated on industry best practices and new technology
People Resources
Recruit, train, and coach Servicing & Collection Specialists as the department grows.
Manage & mentor team members, provide support, and hold them accountable for success.
Develop & implement appropriate incentive programs to influence/change behavior.
Conduct regular meetings and performance reviews to assess team performance and provide feedback.
Process
Monitor and improve Servicing and Collection Specialist performance from both a compliance and profitability standpoint.
Develop and implement KPIs and metrics to track team performance and drive results.
Develop and implement Quality Assurance program.
Manage and liaise with outside collection agencies, and attorneys.
Technology
Support IVR operational configuration & maintenance.
Support Telephony operational configuration & maintenance.
Support CRM operational configurations & maintenance.
Interact with technology service providers on business requirements, participate in user acceptance testing, and facilitate change management.
Other
Work collaboratively with accounting, sales, and underwriting departments to achieve servicing & collection goals.
Work with key business partners to develop updated department policies and procedures, as well as department performance metrics.
Directly handle a caseload of servicing & collection accounts including outreach, negotiation, monitoring and escalating collection efforts, as needed.
Responsible for managing risks specific to related job functions with an expectation to make and support risk‑informed decisions and remain diligent in identifying emerging risks that could jeopardize the success of the Credit Union.
Any other duties as assigned.
Job Responsibilities
Engage in continuous learning and professional development opportunities to improve collections expertise.
Provide leadership to team members through practical goal setting, training, coaching, and communication.
Standardize processes and procedures to ensure consistent collections practices across regions or business units.
Ensure team members are well trained and effectively utilized to achieve optimal results.
Monitor the effectiveness of the collections team's work and provide ongoing feedback and support.
Work closely with the internal audit team to ensure adherence to set policies regarding debt recovery.
Investigate and resolve customer complaints related to collections activities. Create reports summarizing collections activities and progress towards goals.
Monitor payment trends and adjust collection tactics accordingly.
Use customer feedback to identify areas for improving the payment process.
Develop KPIs to track the performance of individual collectors.
Implement preventative measures to reduce future delinquencies.
Identify root causes of nonpayment and develop solutions to prevent future occurrences.
Use reward and recognition programs to motivate collections staff and increase productivity.
Foster a customer-focused collections approach that balances customer satisfaction with payment recovery goals.
Ensure that all collection communications are professional, clear, and concise.
Maintain accurate records related to interest, fees, and charges associated with delinquent accounts.
Identify areas for cost savings related to debt collection activities.
Develop and maintain relationships with key stakeholders in the collections process, including customers, suppliers, legal counsel, and regulatory agencies.
Ensure all communications comply with industry regulations such as FDCPA, HIPAA, etc.
Contribute to developing credit policies that mitigate risk while supporting business growth objectives.
Ensure all collected funds are accounted for and recorded. Monitor changes in customer behavior or economic indicators.
Educate customers on payment options.
Track performance metrics such as average days in arrears.
Use third-party vendors for debt collection.
Train collectors on communication skills.
Offer support services like credit counseling.
Design collection strategies with priority accounts in mind.
Gather customer feedback on the collection process.
Maintain accurate records of each customer's payment history.
Implement a skipping tracing program.
Conduct regular surveys of customers' perspectives.
Optimize debt recovery with skip tracing tools.
Requirements
Bachelor’s degree in Business Administration, Accounting or Finance preferred.
5 years collection experience required, including 2 or more years managing a team.
At least 3 years of experience in the financial service industry required.
Proficient knowledge of Microsoft Office
Intermediate mathematical skills required (calculations and concepts involving decimals, percentages, fractions, etc.)
Physical Requirements The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions. While performing the duties of this job, the employee is frequently required to sit, use hands to finger, handle or feel, reach with hands and arms, and talk or hear. The employee is occasionally required to stand, walk, bend, kneel, and reach above or at shoulder level. The employee must occasionally lift/push/pull and/or carry up to 10 pounds.
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MEMBER SOLUTIONS MANAGER (COLLECTIONS MANAGER)
role at
Dover Federal Credit Union
The Member Solutions Manager is a pivotal asset in the Credit Union's risk management and collection endeavors. Through exemplary leadership, the Manager guides a team of Collection Specialists, ensuring a seamless collections process and collaborating with leadership to establish best practices. Additionally, the Manager spearheads the development and endorsement of advanced Member Solutions and recovery processes, effectively minimizing organizational losses by reducing delinquency levels and write-offs, while simultaneously increasing recoveries. It is the Manager's responsibility to oversee Member Solutions in conjunction with the Sr. Member Solutions Manager to drive process enhancements, efficiencies to elevate both member satisfaction and the credit union's loss prevention strategies.
Essential Functions
Develop and execute strategies to improve collections efforts and team performance
Design and implement collection, outsourcing, and servicing strategies
Manage collections processes, third‑party collections, and outside vendors
Analyze billing and collections data to identify trends and areas for improvement
Lead, mentor, train, and evaluate a collections team
Ensure compliance with debt collection laws and regulations
Stay updated on industry best practices and new technology
People Resources
Recruit, train, and coach Servicing & Collection Specialists as the department grows.
Manage & mentor team members, provide support, and hold them accountable for success.
Develop & implement appropriate incentive programs to influence/change behavior.
Conduct regular meetings and performance reviews to assess team performance and provide feedback.
Process
Monitor and improve Servicing and Collection Specialist performance from both a compliance and profitability standpoint.
Develop and implement KPIs and metrics to track team performance and drive results.
Develop and implement Quality Assurance program.
Manage and liaise with outside collection agencies, and attorneys.
Technology
Support IVR operational configuration & maintenance.
Support Telephony operational configuration & maintenance.
Support CRM operational configurations & maintenance.
Interact with technology service providers on business requirements, participate in user acceptance testing, and facilitate change management.
Other
Work collaboratively with accounting, sales, and underwriting departments to achieve servicing & collection goals.
Work with key business partners to develop updated department policies and procedures, as well as department performance metrics.
Directly handle a caseload of servicing & collection accounts including outreach, negotiation, monitoring and escalating collection efforts, as needed.
Responsible for managing risks specific to related job functions with an expectation to make and support risk‑informed decisions and remain diligent in identifying emerging risks that could jeopardize the success of the Credit Union.
Any other duties as assigned.
Job Responsibilities
Engage in continuous learning and professional development opportunities to improve collections expertise.
Provide leadership to team members through practical goal setting, training, coaching, and communication.
Standardize processes and procedures to ensure consistent collections practices across regions or business units.
Ensure team members are well trained and effectively utilized to achieve optimal results.
Monitor the effectiveness of the collections team's work and provide ongoing feedback and support.
Work closely with the internal audit team to ensure adherence to set policies regarding debt recovery.
Investigate and resolve customer complaints related to collections activities. Create reports summarizing collections activities and progress towards goals.
Monitor payment trends and adjust collection tactics accordingly.
Use customer feedback to identify areas for improving the payment process.
Develop KPIs to track the performance of individual collectors.
Implement preventative measures to reduce future delinquencies.
Identify root causes of nonpayment and develop solutions to prevent future occurrences.
Use reward and recognition programs to motivate collections staff and increase productivity.
Foster a customer-focused collections approach that balances customer satisfaction with payment recovery goals.
Ensure that all collection communications are professional, clear, and concise.
Maintain accurate records related to interest, fees, and charges associated with delinquent accounts.
Identify areas for cost savings related to debt collection activities.
Develop and maintain relationships with key stakeholders in the collections process, including customers, suppliers, legal counsel, and regulatory agencies.
Ensure all communications comply with industry regulations such as FDCPA, HIPAA, etc.
Contribute to developing credit policies that mitigate risk while supporting business growth objectives.
Ensure all collected funds are accounted for and recorded. Monitor changes in customer behavior or economic indicators.
Educate customers on payment options.
Track performance metrics such as average days in arrears.
Use third-party vendors for debt collection.
Train collectors on communication skills.
Offer support services like credit counseling.
Design collection strategies with priority accounts in mind.
Gather customer feedback on the collection process.
Maintain accurate records of each customer's payment history.
Implement a skipping tracing program.
Conduct regular surveys of customers' perspectives.
Optimize debt recovery with skip tracing tools.
Requirements
Bachelor’s degree in Business Administration, Accounting or Finance preferred.
5 years collection experience required, including 2 or more years managing a team.
At least 3 years of experience in the financial service industry required.
Proficient knowledge of Microsoft Office
Intermediate mathematical skills required (calculations and concepts involving decimals, percentages, fractions, etc.)
Physical Requirements The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions. While performing the duties of this job, the employee is frequently required to sit, use hands to finger, handle or feel, reach with hands and arms, and talk or hear. The employee is occasionally required to stand, walk, bend, kneel, and reach above or at shoulder level. The employee must occasionally lift/push/pull and/or carry up to 10 pounds.
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