Collections Department Lead
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Job Location:
Lynchburg, VA - USA
Monthly Salary:
Not Disclosed
Posted on:
5 days ago
Vacancies:
1 Vacancy
Job Summary
Role
The primary purpose of this position is to assist Beacon Credit Union to live out our mission Dedicated to Our Members Financial Success.
The Collections Lead is responsible for overseeing advanced collection activities guiding team members and managing complex accounts involving bankruptcy loan restructuring and collateral recovery. This role requires strong analytical skills sound judgment and the ability to navigate sensitive financial situations while maintaining compliance with internal policies and regulatory standards.
Major Duties and Responsibilities
Serve as the primary point of contact to the Assistant Vice President of Credit Solutions for recommendation of complex or escalated accounts including bankruptcies restructures charge offs and repossessions.
Review analyze and manage accounts in active bankruptcy (Ch. 7 11 13) ensuring accurate documentation timely filings and compliance with all legal requirements.
Evaluate member financial situations to recommend and structure appropriate workout solutions extensions or repayment plans.
Oversee repossession processes from assignment through liquidation ensuring adherence to UCC guidelines and maximizing recovery value.
Provide guidance and support to collection staff on procedures best practices and regulatory compliance.
Monitor delinquency trends and assist in developing strategies to reduce past due accounts and mitigate loss exposure.
Prepare and present reports on high-risk accounts bankruptcy activity and recovery outcomes to the Assistant Vice President of Credit Solutions.
Maintain strong working relationships with attorneys trustees vendors and internal departments to support efficient resolution of accounts.
Ensure all collection activities are conducted professionally ethically and in alignment with organizational standards.
Experience Education and Preferred Skills
- 24 years of experience in collections loan servicing bankruptcy processing repossession coordination or related financial services roles.
- Demonstrated knowledge of bankruptcy chapters timelines and creditor rights.
- Experience with loan restructuring extensions and workout solutions.
- Familiarity with repossession procedures collateral valuation and UCC requirements.
- Strong communication negotiation and problem-solving skills.
- Ability to interpret financial statements payment histories and legal documents.
- High attention to detail with strong organizational and documentation skills.
- Ability to work independently while supporting team goals
-Previous collection experiencerequired.
- Associate degree in related Banking Business or Accounting field or Certification in Collections or Financial Counseling course.
Preferred Skills:
Prior experience in a credit union bank or lending institution.
Working knowledge of collection systems and bankruptcy tracking tools.
Leadership experience or the ability to mentor and support junior
A significant level of trust and diplomacy is required to be an effective subject matter expert in the -depth dialogues conversations and explanations with customers direct and indirect reports and outside vendors of a sensitive and/or highly confidential nature is a normal part of the day-to-day experience. Communications can involve motivating influencing educating and/or advising others on matters of significance.
About Company
Be a part of Beacon’s history by helping us open another branch and expand our reach to serve more members! Role: Head Teller Location: Roanoke, Virginia...
