Collections Manager

About Us:

SkyPoint Federal Credit Union makes banking simple and accessible. A community-based financial institution, located in Montgomery County, Maryland, SkyPoint serves our members in the greater Washington D.C. metro region with a wide array of financial services, supported by technology, and offers great value, affordable fees, and rates through our member-owned structure. The only designated Community Development Financial Institution (CDFI) credit union in Montgomery County, SkyPoint helps our members and the community gain access to the financial services needed to prosper. Through our inclusive, expert, and compassionate team, we focus on removing banking complexities, and building empowering relationships with our members to help you achieve your financial goals with simple and accessible banking solutions.

General Responsibilities:

The Collections Manager coordinates the Collection activities of the Credit Union with third party vendors, members and internal staff. Ensures Collection activities are in compliance with state and federal regulations and SkyPoint policies and procedures. Responds to questions and/or provides information upon request from members (internal and external). Processes requests/transactions, as appropriate. Assist members and potential members in understanding and utilizing Credit Union products and services.

Job Description:

• Collects all accounts that have reached a delinquent status. Communicates and counsels members with delinquent accounts using specific knowledge of SkyPoint guidelines, NCUA policies, as well as the Fair Debt Collection Practices Act. Counsels members with delinquent loans using specific knowledge of good collection techniques to maintain good relationships with delinquent members while avoiding losses.
• Creates and maintains collection files. Documents collection activity in systems. Coordinates all aspects of repossessions and foreclosures with third party providers and attorneys. Prepares and sends all required letters and documentation to members. If legal action is needed, files judgment with the court or transfers file to attorneys.
• Works collection queues daily, monitoring member accounts and applying right of offset funds to loans or overdraft fees, as appropriate. Review C-Pay Analysis journal daily.
• Responsible for but not limited to: recommending accounts to charge off, repossession, legal action, settlements on charged off accounts, freezing shares for delinquent purposes, answering court attachments, handling bankruptcies (Chapter 7 & 13), and when necessary, works with the credit union approved collection attorney to collect accounts through legal means.
• Gather information regarding delinquent loan activity for the Director of Lending. Maintain and prepare reports for the monthly Board of Directors meeting (i.e. loans charged off, list of loans 1 to 180 past due, automobiles repossessed and sold, and bankruptcy filings).
• Responsible for preparing a variety of reports on a weekly, monthly, quarterly, etc. basis, and for recommending policy and developing procedures to assure compliance with state and federal regulations. Reports include but are not limited to: charge-off, collateral types by DQ loans (5300), quarterly bankruptcy.
• May represent the Credit Union at legal proceedings. May negotiate with attorneys on bankruptcy and other legal issues in consultation with the Director of Lending. Coordinates repossessions with repossession company. Initiates appropriate action to sell or dispose of repossessed vehicles. Prepares documentation for court ordered judgments on smaller loans where legal support may not be required. Assigns accounts to outside Collection agency, according to policy. Works with attorney to initiate foreclosure process. Initiates appropriate action to sell property.
• Responds to court garnishment and levies. Responds to consumer disputes from Credit Bureau Agencies to ensure proper reporting of account activity. Files death claims in accord with county and state requirements.
• Assists with handling check fraud/other fraud, involving authorities and developing police relationship on cases in order to pursue legal action when warranted.
• Maximizes recovery efforts to increase recoveries of charged off loans and accounts. After an account or loan has been charged off, reviews account, utilizes all available tools, methods and legal avenues to locate the member and collect on the account unless it does not make financial sense to do so.
• Enhance the Courtesy Pay focus, monitor charge offs, active accounts and income levels each month to ensure the success and profitability of the program.
• Reviews the Multi-Dimensional Portfolio Analysis (MDPA) and takes appropriate action on loans as necessary, makes recommendations to policies and procedures based on findings of the MDPA to the Lending Director.