Bachelor's degree or extensive relevant experience in leadership.
At least ten years of progressive management in financial institutions overseeing collections and loss mitigation.
Five years of managerial experience required.
Strong understanding of collection rules and regulations.
Proficient in Microsoft Office; strong analytical and communication skills.
Responsibilities
Oversee the entire Member Care department managing up to 200 employees.
Define and communicate the strategic vision and implement financially sound solutions.
Lead operational changes to support growth while ensuring excellent member service.
Collaborate with management and partners on strategic goals and risk management.
Use data and analytics to identify problems and improve performance metrics.
Benefits
Leadership development and training opportunities.
Supportive and engaging work environment fostering staff development.
Comprehensive compliance and operational integrity practices.
Access to cutting-edge technology and data analytics.
Opportunity to influence member experience positively and help during financial hardships.
Full Job Description
TITLE: VP - Member Care and Credit Bureau Reporting Oversight
STATUS: Exempt
REPORT TO: EVP - Head of Operations
DEPARTMENT: Member Care Admin
JOB CODE: 7501
PAY SCALE: $193,600.00 - $245,000.00 Annually
GENERAL DESCRIPTION:
The Vice President of Collections is responsible for all aspects of Collections (Member Care) which includes loss mitigation programs, third party collection agencies, bankruptcy, credit bureau reporting, litigation, repossessions, foreclosure and REO management. In addition, this role will oversee credit bureau reporting for the entire credit union, including consumer and business, member expulsion, third party oversight, Board of Directors reporting. This role will manage, mentor, and develop staff engaged in all aspects of functional responsibility in order to minimize net credit losses, service member needs, maximize member experience and increase employee engagement.
PURPOSE STATEMENT:
Assist Golden 1 to achieve its goals related to Financial Strength and Security by mitigating deposit and loan losses, while providing outstanding and compassionate service to our members during their time of financial distress.
TASKS, DUTIES, FUNCTIONS:
Oversight of the entire department with up to 200 FTEs.
Define and build buy-in for the business unit's strategic vision; implement solutions that deliver the strategy, including financial plan.
Lead changes necessary to support firm growth strategy while ensuring Golden level member service and creating a scalable operation within current cost structure.
Collaborate with senior management, peers, and partners across the credit union on enterprise and departmental initiatives to accomplish strategic goals and remain within low-mod risk appetite.
Leverage data and analytics to solve problems and articulate operational strengths, weaknesses, and ongoing performance.
Implement and publish KPIs, KRIs, OKRs with appropriate targets and thresholds (RYG) across people, process, technology, risk, and strategy.
Oversee business unit planning, risk, governance, quality, reporting, project management, monitoring, and finance.
Stay current on collections, member service delivery and technology trends across operations.
Improve Performance Across People, Process, and Technology Through Four Key Objectives:
Elevate to a High-Performing Team: Manage, develop, coach, and hold talent accountable.
Own the Risk: Manage the risk of the end-to-end process within the mandate.
Execute Flawless and Efficient Processes: Lead the process owners and managers within the operation.
Cultivate Peer Relationships: Foster relationships internally and externally.
Develop and maintain an understanding of the pertinent regulatory requirements and risks inherent to job responsibilities, establish, and maintain control activities that mitigate those risks consistent with the Credit Union's risk appetite, and ensure operational integrity and compliance with applicable regulations.
Lead Member Care and credit bureau reporting teams consistent with state and federal compliance standards and Golden 1 policies and procedures.
Monitor delinquency and charge off trends for all products and lead teams to develop effective collection strategies for all functional areas: collections, loss mitigation, third party collection agencies, bankruptcy, litigation, repossessions, foreclosures, loss mitigation and REO management.
Understand Golden 1's credit culture, underwriting, related lending policies, risk profile, portfolio and product concentration risks, including geographic, and industry, to understand delinquency and charge off trends.
Develop effective multi-channel collections strategies that utilize autodialer, phone, text, email and outbound voice response unit. Develop ways to measure results.
Ensure proper oversight and compliance for all vendors related to the collection process (PAR, collection agencies, attorneys etc.).
Foster a positive and engaging work environment for each team member by promoting skill development, coaching, inspiring others through your words and actions, ensuring positive employee morale throughout the credit union, and embracing our mission. Develop action plans, and activities to help improve employee satisfaction to target levels.
Direct the preparation of all collections of summary reports for Senior Management and the monthly Board Meeting. Responsible for the accuracy and timely delivery of all reporting owned by the Member Care and Loan Servicing department.
Develop and maintain an understanding of the pertinent regulatory requirements and risks inherent to job responsibilities, establish, and maintain control activities that mitigate those risks consistent with the Credit Union's risk appetite, and ensure operational integrity and compliance with applicable regulations.
PHYSICAL SKILLS, ABILITIES, AND EXERTION UTILIZED IN THE PERFORMANCE OF THESE TASK:
Effective oral and written communication skills required to train and evaluate staff and to perform constructive follow-up on member concerns and collection activities.
Must possess sufficient manual dexterity to skillfully operate an on-line computer terminal and other standard office equipment, including financial calculators, personal computer, facsimile machine, and telephone.
ORGANIZATIONAL CONTACTS & RELATIONSHIPS:
INTERNAL: Credit Union staff and members of Department and Senior Management.
EXTERNAL: Members, legal counsel, vendors, peers in financial institutions, law enforcement agencies and judicial departments.
QUALIFICATIONS:
EDUCATION: Bachelor's degree or strong subject matter experience with excellent people leadership skills.
EXPERIENCE: Minimum ten years of progressively responsible management or supervisory experience within a financial institution overseeing collections, loss mitigation and/or servicing for auto, unsecured and real estate secured products, including a minimum five years as a manager.
KNOWLEDGE / SKILLS:
Conversant with collection rules, regulations, and procedures.
Excellent analytical and problem-solving abilities.
Excellent verbal and written communications skills.
Strong leadership, project and resource management, and Member Relationship skills.
Experience with managing large groups.
Sound knowledge of the methods and principles of business administration.
Experience with financial accounting and departmental budgets.
Ability to lead and manage multiple tasks concurrently and self-prioritize workload to meet deadlines as an individual and leader.
Advanced knowledge of Microsoft Office programs such as Word, Excel, PowerPoint, and Outlook.
PHYSICAL REQUIREMENTS:
Prolonged sitting throughout the workday with occasional mobility required.
Corrected vision within the normal range.
Hearing within normal range. A device to enhance hearing will be provided, if needed.
Occasional movements throughout the department daily to interact with staff, accomplish tasks, etc.
Minimal local and statewide travel by care or public conveyance to attend meetings.
Unusually long work hours may be required to accomplish tasks.
LICENSES / CERTIFICATIONS:
None
THIS JOB DESCRIPTION IN NO WAY STATES OR IMPLIES THAT THESE ARE THE ONLY DUTIES TO BE PERFORMED BY THIS EMPLOYEE. HE OR SHE WILL BE REQUIRED TO FOLLOW OTHER INSTRUCTIONS AND TO PERFORM OTHER DUTIES REQUESTED BY HIS OR HER SUPERVISOR THAT ARE WITHIN HIS / HER KNOWLEDGE, SKILL AND ABILITY AS WELL AS HIS / HER MENTAL AND PHYSICAL ABILITIES.
