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Form of workRole:
To provide value added member and internal services The Assistant Manager of Credit Resolution. Is responsible in all aspects of department operations to ensure the financial well-being of our credit union and its members. As part of our growth strategy, we are seeking a highly experienced and strategic Leader to oversee Credit Resolution such as Collections strategies greater than 60 days, vendor management, Repossessions, Reinstatements, ensure timely sale of repossessed vehicles, manage title release to auctions, Stored Vehicle and Lien Sale Notices, cancellable product tracking, process and balance payments and adjustments for delinquent accounts and loans, post charge-offs, set up charged off accounts, manage expulsions, process bankruptcy payments and other financial transactions, and ensure compliance with regulations and Credit Union procedures.
Major Duties and Responsibilities:
1.Oversee a team responsible for repossessions, vehicle liquidation, handling stored vehicles, financial transactions on delinquent accounts and loans, charge-offs, expulsions, processing payments on bankruptcy accounts, balancing of teller work, check handling, Insurance claim follow ups, cancellable products, membership reinstatements, ensuring that all transactions are recorded accurately and reconciled daily, ensuring accuracy and compliance with legal, company policies and regulations.
2. Manage the repossession process, ensuring legal and ethical procedures are followed, liaising with external agencies, and optimizing strategies to minimize losses.
3. Effectively manage and maintain inventory with movement between multiple vendors related to repossessions.
4. Effectively manage and maintain inventory related to financial transaction requests, incoming checks, department mail, and charge-offs.
5. Monitor and control the inventory of expelled memberships and amnesty approved accounts.
6. Develop and implement streamlined inventory tracking systems to monitor the status and location of items in real-time.
7. Coordinate the liquidation of repossessed vehicles, including auctioning, negotiating with buyers, inventory management and maximizing returns.
8. Collaborate with cross-functional teams, including finance, loan servicing, legal, and compliance, to ensure adherence to regulatory standards and internal policies.
9. Ensure proper management of stored vehicles, adherence to lien sale notice regulations, and efficient resolution of storage-related matters.
10. Oversee procedures for membership reinstatement, including assessment criteria, documentation, and member communications.
11. Supervise the handling of cancellable products, overseeing processes related to add on product cancellations, refunds, and customer inquiries.
12. Develop, implement, and maintain efficient procedures for repossession, vehicle liquidation, stored vehicle management, processing of charge-offs, expulsions, bankruptcy account payments, and maintain an understanding of the pertinent regulatory requirements and risks inherent to job responsibilities.
13. Effectively identify, implement, and monitor business unit controls and ensure operational integrity and compliance with applicable regulations.
14. Develop and implement procedures for efficient, optimizing workflows to improve productivity.
15. Train and mentor team members, ensuring a high level of competence and adherence to company policies.
16. Conduct transactional audits to identify discrepancies, analyze trends, and implement corrective measures to enhance accuracy and minimize errors.
17. Prepare and analyze comprehensive reports on financial transactions, charge-offs, bankruptcy account payments, and audit findings for management review.
18. Collaborate with legal teams to ensure compliance with relevant laws and regulations.
19. Analyze performance metrics, create reports, and propose strategies for improvement.
20. Handle escalated customer issues and inquiries related to repossession, membership reinstatement, cancellable products, financial transactions on delinquent loans, and charge-offs.
Expectations:
- To manage the Credit Resolution staff in their collection efforts.
- To maintain service center strategic objective in delinquency and charge-off.
- To provide exceptional internal and external member service.
- To represent the credit union in all legal matters involving collections.
- To ensure accuracy, speed, and audit compliance on all collection matters.
- To maintain a positive sales and service environment in the service center that promotes teamwork and sales.
- Ability to work on Saturdays as requested.
Essential Functions:
- Ability to communicate clearly and to be understood in English verbally, by telephone and in person.
- Ability to clearly write in Standard English all types of material such as correspondence, memos, and reports.
- Ability to exercise good judgement by using proper prioritization and problem-solving skills.
- Ability to read Standard English and to interpret data reviewed either on a CRT or on hand copy reports.
- Must be able to manipulate books and reports measuring 12x18 and weighting up to 10 pounds.
- Ability to sit at workstation in increments of two or three hours throughout the workday and move freely within the service center.
- Ability to operate computer terminals, printers, and calculators for extended periods of time.
- Ability to get to and from various work areas during work hours.
Basic Qualifications:
- Minimum of five to ten years Leadership or Supervisory experience composed of the following:
- Escalated Collections,
- Legal Collections (judgements, garnishments, bank levy's)
- Vehicle Repossession
- DMV title perfection
- Charge off Strategies (focus in non-performing assets).
- Bankruptcy
- Foreclosure
- Education: Bachelor's degree or equivalent operations experience in the financial industry field.
- Project management skills.
- Thorough knowledge of federal and state regulations affecting collections.
- Strong knowledge of bankruptcy, foreclosure, repossession, small claims system, and Fair Debt Collection Act.
- Interpersonal Skills: Ability to interact effectively with both members and staff on a daily basis
- Ability to lead, coach, and participate in teams.
- Other Skills: Strong written and verbal communication skills required along with some computer knowledge.
