Director, Collections and Recovery

Saint Louis, MI - USA

Monthly Salary: Not Disclosed

Posted on: 26 days ago

Vacancies: 1 Vacancy

Job Summary

Job Title: Director Collections and Recovery

Reports To: Chief Lending Officer

Positions Supervised:

FLSA Status: Exempt

Job Summary

The Director of Collections and Recovery provides strategic leadership and operational oversight for all credit union collection and recovery activities across all loan types including auto (new used RV and motorcycle) unsecured credit card mortgage and home equity portfolios. This role ensures the protection of the credit unions assets through effective delinquency management loss mitigation and recovery processes. The Director develops policies procedures and performance standards to ensure compliance with all applicable federal and state regulations while cultivating a culture of integrity diversity excellence and ownership within the department. ** This is a Hybrid/St. Louis position**

Job Responsibilities

The intent of this job description is to provide a representation of the types of duties and level of responsibilities required of this position and is not intended to be an exhaustive list of all responsibilities duties and skills. Team members may be directed to perform job-related tasks other than those specifically stated in this description.

Strategic Leadership & Management

Lead coach and develop a high-performing team including the Collections Manager Bankruptcy Specialist Recovery Specialist Loss Mitigation Specialist and Collections Systems Analyst
Set departmental goals performance metrics and strategies aligned with the credit unions mission and risk appetite
Oversee all pre- and post-charge-off activities ensuring consistent and member-focused collection practices
Collaborate with other departments (Lending Risk Accounting Member Experience) to ensure accurate reporting effective communication and coordinated member outreach efforts
Serve as the primary liaison for third-party vendors collection agencies and attorneys handling recovery or repossession efforts

Collections & Recovery Operations

Direct all aspects of loan collections and recovery across all consumer and real estate loan types
Ensure accurate timely and fair handling of delinquent accounts bankruptcies repossessions and charged-off loans
Monitor delinquency charge-off and recovery performance recommending strategies to minimize losses and improve efficiency
Oversee the repossession and remarketing process for collateral ensuring compliance with federal state and credit union policy
Manage the recovery of charged-off accounts including external agency placements and settlements

Loss Mitigation

Guide the Loss Mitigation Specialist in assisting members experiencing financial hardship including extensions deferments and other relief programs for consumer loans
Ensure member outreach aligns with credit union values balancing compassion and accountability

Compliance & Risk Management

Maintain compliance with all relevant regulations including FDCPA FCRA GLBA UDAAP ECOA BSA SCRA and NCUA guidance
Ensure all collection and recovery processes adhere to internal policies and applicable legal standards
Oversee recordkeeping system controls and audit responses for all collection-related activities
Partner with the Compliance and Legal departments to assess and mitigate risk exposures
Ensure proper handling and documentation of bankruptcies repossessions and legal proceedings

Data Systems and Reporting

Oversee the Collections Systems Analyst in optimizing and maintaining collection technology platforms workflows and reporting dashboards
Utilize data analytics to track trends forecast losses and drive process improvements
Provide regular performance reports to executive leadership identifying risks opportunities and key portfolio indicators

Required Qualifications

An equivalent combination of education training and experience will be considered.

High school diploma or equivalent
7 years of experience in collections loss mitigation or recovery management within a financial institution
3 years in a leadership role

Preferred Qualifications

Bachelors degree in Business Administration Finance or a related field required
10 years of experience in collections loss mitigation or recovery management within a financial institution
5 years in a leadership role

Knowledge Skills and Abilities (KSAs)

A representation of the knowledge skills and abilities necessary to perform this job competently.

Proven success managing diverse teams and multi-portfolio collections (consumer mortgage credit card and real estate)
Deep knowledge of collection laws consumer lending regulations and recovery processes
Strong leadership coaching and communication skills
Analytical and data-driven mindset with proficiency in collection and core system reporting tools
Demonstrated ability to develop and implement strategic plans and process improvements
High ethical standards and commitment to maintaining confidentiality and fairness in all decisions

Work Environment

Environmental or atmospheric conditions commonly associated with the performance of this jobs functions.

Hybrid work environment (combination of remote & onsite); requires regular use of online tools systems and collaboration platforms
General office setting when working onsite

Physical Abilities

The physical demands described below are representative of those that must be met by an employee to successfully perform this jobs essential functions. Reasonable accommodations may be made to enable individuals with disabilities to perform essential functions.

Ability to work at a computer in a stationary position for up to 8 hours per day
Ability to occasionally carry light materials (e.g. laptop presentation materials)

Together Credit Union is an Equal Opportunity employer. The Credit Union complies with appropriate federal state and local laws and provides equal employment opportunities without regard to race color religion gender age sexual orientation gender identity or expression national origin military or veteran status disability (including pregnancy) genetic information or any other protected status to all qualified applicants and employees. Together Credit Union is committed to a policy of non-discrimination and dedicated to providing a positive discrimination-free work environment.

Required Experience:

Director

Job Title: Director Collections and RecoveryReports To: Chief Lending OfficerPositions Supervised:FLSA Status: ExemptJob SummaryThe Director of Collections and Recovery provides strategic leadership and operational oversight for all credit union collection and recovery activities across all loan typ...