Empower Federal Credit Union
Vice President Collections Strategy & Member Solutions
Empower Federal Credit Union, Syracuse, New York, United States
Vice President Collections Strategy & Member Solutions
Empower FCU Purpose:
At every stage of life, positively impact members by providing affordable financial services.
Empower FCU Core Values:
Fairness, Integrity & Honesty
Empower FCU Strategic Pillars:
World-Class Employee Experience
Best-In-Class Member Experience
Growth for Impact
Shared Value in the Community
Benefits:
Medical and Dental Insurance, 401(k) with Employer Match, Holiday Pay, Paid Time Off and more!
About the Role:
The Vice President of Collections Strategy and Member Solutions leads end‑to‑end management of collections, recovery, and loss mitigation across all loan portfolios. The leader drives performance through innovation, technology, and analytics, ensuring industry‑leading efficiency, optimal recovery rates, and strict regulatory compliance. This position reports to the Chief Lending Officer and is a key member of the Lending Leadership Team.
Annual Salary Range:
$140,859.42 - $234,765.69
Location:
Syracuse, NY (Hybrid model, minimum 5 days in‑office per month)
Essential Functions & Responsibilities 30% Strategic Leadership & Innovation
Collections Strategy:
Lead strategy, design, and execution of collections, loss mitigation, and recovery programs across multiple loan products and delinquency stages, optimizing cure rates and liquidation.
Operational Excellence:
Identify and drive efficiencies through process re‑engineering, RFP processes for new technology, and system integration.
Legal Collections:
Build the legal collections strategy, including selection and management of attorney networks or law firms.
Debt Sale Program:
Establish all operational processes, partner due diligence, and financial modeling to optimize recovery value.
Contact Strategy:
Partner with Product, Risk, and Analytics to build sophisticated contact strategy capabilities using member segmentation, channel optimization, and rigorous test‑and‑learn approaches.
25% Operational Management & Risk Reduction
Collections Management:
Oversee collections of past‑due consumer, indirect, commercial, and residential mortgage loans, including restructuring or liquidation of collateral.
Asset Management:
Secure and manage disposition of repossessed collateral for all secured loans.
Vendor & BPO Management:
Own vendor and Business Process Outsourcing management across pre‑ and post‑charge‑off collections; set performance expectations and monitor scorecards.
Performance Monitoring:
Establish, monitor, and report on rigorous KPIs such as cure rates, liquidation rates, RPC rates, QA, and compliance metrics.
Risk & Compliance:
Expert in managing and reducing risk and charge‑offs, partnering with Compliance, Legal, and Risk to ensure adherence to all regulations.
Financial Oversight:
Develop and monitor budgets for Collections and Loan Operations; measure results against projections.
25% Team Leadership & Development
Talent Management:
Recruit, train, mentor, and develop a high‑performing team reflecting core values; manage staffing levels and associated expenses.
Supervision:
Conduct annual performance reviews and work with team members to set individual goals; ensure groups are adequately staffed and trained.
20% Cross‑Functional Collaboration & Influence
Credit & Portfolio Alignment:
Collaborate with Operations, Risk, Finance, and Data & Analytics to align collections strategy with credit policy and portfolio goals.
Executive Influence:
Provide data‑driven insights and recommendations on portfolio health, recovery performance, and strategic direction.
Representation:
Represent collections in cross‑functional forums focused on member experience, regulatory strategy, and portfolio risk.
Other Duties:
Perform all other duties as assigned by CLO and Executive Leadership.
Knowledge and Skills Experience:
7–10+ years of progressive experience in Collections and Recoveries Strategy, Operations, or Risk Management within the financial services industry, preferably in a credit union or banking environment.
Deep expertise in strategic leadership and multi‑channel collections strategies.
Experience deploying new technology within the collection lifecycle, including leading RFP and vendor selection.
Ability to translate data/analytics into actionable strategies that reduce risk and charge‑offs.
Solid understanding of regulatory requirements governing collections (FDCPA, Reg F, UDAAP).
Education:
Bachelor’s degree in Business Administration, Finance, Accounting, Economics, or a related field (preferred). Equivalent certifications or professional experience are also encouraged.
Interpersonal & Leadership Competencies
Integrity and Transparency
Empathy and Compassion
Communication and Collaboration
Empowerment and Mentorship
Adaptability and Continuous Learning
Resilience and Accountability
Recognition and Celebration
Strategic Vision and Decision‑Making
Accessibility and Approachability
Inspiration and Influence
Other Skills
IT and Business 101: Basic to moderate understanding of IT and business products.
Financial Acumen: Understand financials and leverage financial levers.
Strategic Thinking: Articulate organization strategy and business plans.
Business Case Development: Write and articulate business cases.
Managing an RFP: Lead RFP processes to ensure strategic outcomes.
Vendor Management: Negotiate contracts to support goals.
Budget Management: Maintain budget accuracy within +/- 5% of actuals.
Executive Communication: Present with clarity to senior leadership and boards.
Big Picture Leadership: Align and move forward cross‑functional projects.
Incident Management: Facilitate member‑impacting incidents.
Communications Management: Ensure clarity and transparency for members and staff.
People Leadership
Performance Management: Work through performance issues with HR and deliver feedback.
Goal and Objective Setting: Align goals from top of organization to individual contributors.
Team Engagement: Facilitate meaningful All‑Hands meetings and build alignment.
Culture and People Leadership: Foster delegation, empowerment, and accountability.
Leadership Excellence: Coach direct reports to demonstrate empowerment competencies.
Physical Requirements
Prolonged periods of sitting and computer work.
Use of hands and fingers to operate keyboard and telephone.
Near visual acuity for digital content.
Occasional light lifting (up to 20 lbs).
Attend in‑person events as needed.
Reasonable accommodations may be made for disabilities.
Work Environment
Hybrid work model with minimum 5 days in‑office per month.
Standard office environment with moderate noise levels.
Regular collaboration via Teams, email, and in‑person meetings.
Occasional regional travel for branch visits or leadership meetings.
This Job Description is not a complete statement of all duties and responsibilities comprising the position.
Empower Federal Credit Union is an equal opportunity employer. We do not discriminate on the basis of race, religion, ethnicity, color, national or ethnic origin, age, sex, sexual orientation, gender identity, transgender status, reproductive health decisions, marital status, ancestry, citizenship status, disability, genetic information, or status in the uniformed services. Our commitment extends to all systematically protected classes under applicable national, federal, state, provincial or local law. Employers are required to provide reasonable accommodations for individuals with disabilities unless it imposes an undue hardship. EEO is the Law Poster and Pay Transparency Nondiscrimination Provision reaffirm our commitment.
Contact Information for Accommodation Requests
Fax: 315‑455‑5423
US Mail: 1 Member Way, Syracuse, NY 13212
Phone: 800‑462‑5000
Seniority Level Executive
Employment Type Full‑time
Job Function Accounting/Auditing and Finance
Industries Banking
#J-18808-Ljbffr
At every stage of life, positively impact members by providing affordable financial services.
Empower FCU Core Values:
Fairness, Integrity & Honesty
Empower FCU Strategic Pillars:
World-Class Employee Experience
Best-In-Class Member Experience
Growth for Impact
Shared Value in the Community
Benefits:
Medical and Dental Insurance, 401(k) with Employer Match, Holiday Pay, Paid Time Off and more!
About the Role:
The Vice President of Collections Strategy and Member Solutions leads end‑to‑end management of collections, recovery, and loss mitigation across all loan portfolios. The leader drives performance through innovation, technology, and analytics, ensuring industry‑leading efficiency, optimal recovery rates, and strict regulatory compliance. This position reports to the Chief Lending Officer and is a key member of the Lending Leadership Team.
Annual Salary Range:
$140,859.42 - $234,765.69
Location:
Syracuse, NY (Hybrid model, minimum 5 days in‑office per month)
Essential Functions & Responsibilities 30% Strategic Leadership & Innovation
Collections Strategy:
Lead strategy, design, and execution of collections, loss mitigation, and recovery programs across multiple loan products and delinquency stages, optimizing cure rates and liquidation.
Operational Excellence:
Identify and drive efficiencies through process re‑engineering, RFP processes for new technology, and system integration.
Legal Collections:
Build the legal collections strategy, including selection and management of attorney networks or law firms.
Debt Sale Program:
Establish all operational processes, partner due diligence, and financial modeling to optimize recovery value.
Contact Strategy:
Partner with Product, Risk, and Analytics to build sophisticated contact strategy capabilities using member segmentation, channel optimization, and rigorous test‑and‑learn approaches.
25% Operational Management & Risk Reduction
Collections Management:
Oversee collections of past‑due consumer, indirect, commercial, and residential mortgage loans, including restructuring or liquidation of collateral.
Asset Management:
Secure and manage disposition of repossessed collateral for all secured loans.
Vendor & BPO Management:
Own vendor and Business Process Outsourcing management across pre‑ and post‑charge‑off collections; set performance expectations and monitor scorecards.
Performance Monitoring:
Establish, monitor, and report on rigorous KPIs such as cure rates, liquidation rates, RPC rates, QA, and compliance metrics.
Risk & Compliance:
Expert in managing and reducing risk and charge‑offs, partnering with Compliance, Legal, and Risk to ensure adherence to all regulations.
Financial Oversight:
Develop and monitor budgets for Collections and Loan Operations; measure results against projections.
25% Team Leadership & Development
Talent Management:
Recruit, train, mentor, and develop a high‑performing team reflecting core values; manage staffing levels and associated expenses.
Supervision:
Conduct annual performance reviews and work with team members to set individual goals; ensure groups are adequately staffed and trained.
20% Cross‑Functional Collaboration & Influence
Credit & Portfolio Alignment:
Collaborate with Operations, Risk, Finance, and Data & Analytics to align collections strategy with credit policy and portfolio goals.
Executive Influence:
Provide data‑driven insights and recommendations on portfolio health, recovery performance, and strategic direction.
Representation:
Represent collections in cross‑functional forums focused on member experience, regulatory strategy, and portfolio risk.
Other Duties:
Perform all other duties as assigned by CLO and Executive Leadership.
Knowledge and Skills Experience:
7–10+ years of progressive experience in Collections and Recoveries Strategy, Operations, or Risk Management within the financial services industry, preferably in a credit union or banking environment.
Deep expertise in strategic leadership and multi‑channel collections strategies.
Experience deploying new technology within the collection lifecycle, including leading RFP and vendor selection.
Ability to translate data/analytics into actionable strategies that reduce risk and charge‑offs.
Solid understanding of regulatory requirements governing collections (FDCPA, Reg F, UDAAP).
Education:
Bachelor’s degree in Business Administration, Finance, Accounting, Economics, or a related field (preferred). Equivalent certifications or professional experience are also encouraged.
Interpersonal & Leadership Competencies
Integrity and Transparency
Empathy and Compassion
Communication and Collaboration
Empowerment and Mentorship
Adaptability and Continuous Learning
Resilience and Accountability
Recognition and Celebration
Strategic Vision and Decision‑Making
Accessibility and Approachability
Inspiration and Influence
Other Skills
IT and Business 101: Basic to moderate understanding of IT and business products.
Financial Acumen: Understand financials and leverage financial levers.
Strategic Thinking: Articulate organization strategy and business plans.
Business Case Development: Write and articulate business cases.
Managing an RFP: Lead RFP processes to ensure strategic outcomes.
Vendor Management: Negotiate contracts to support goals.
Budget Management: Maintain budget accuracy within +/- 5% of actuals.
Executive Communication: Present with clarity to senior leadership and boards.
Big Picture Leadership: Align and move forward cross‑functional projects.
Incident Management: Facilitate member‑impacting incidents.
Communications Management: Ensure clarity and transparency for members and staff.
People Leadership
Performance Management: Work through performance issues with HR and deliver feedback.
Goal and Objective Setting: Align goals from top of organization to individual contributors.
Team Engagement: Facilitate meaningful All‑Hands meetings and build alignment.
Culture and People Leadership: Foster delegation, empowerment, and accountability.
Leadership Excellence: Coach direct reports to demonstrate empowerment competencies.
Physical Requirements
Prolonged periods of sitting and computer work.
Use of hands and fingers to operate keyboard and telephone.
Near visual acuity for digital content.
Occasional light lifting (up to 20 lbs).
Attend in‑person events as needed.
Reasonable accommodations may be made for disabilities.
Work Environment
Hybrid work model with minimum 5 days in‑office per month.
Standard office environment with moderate noise levels.
Regular collaboration via Teams, email, and in‑person meetings.
Occasional regional travel for branch visits or leadership meetings.
This Job Description is not a complete statement of all duties and responsibilities comprising the position.
Empower Federal Credit Union is an equal opportunity employer. We do not discriminate on the basis of race, religion, ethnicity, color, national or ethnic origin, age, sex, sexual orientation, gender identity, transgender status, reproductive health decisions, marital status, ancestry, citizenship status, disability, genetic information, or status in the uniformed services. Our commitment extends to all systematically protected classes under applicable national, federal, state, provincial or local law. Employers are required to provide reasonable accommodations for individuals with disabilities unless it imposes an undue hardship. EEO is the Law Poster and Pay Transparency Nondiscrimination Provision reaffirm our commitment.
Contact Information for Accommodation Requests
Fax: 315‑455‑5423
US Mail: 1 Member Way, Syracuse, NY 13212
Phone: 800‑462‑5000
Seniority Level Executive
Employment Type Full‑time
Job Function Accounting/Auditing and Finance
Industries Banking
#J-18808-Ljbffr