Collection Manager

Company: United Credit Union
Location: Chicago
Posted on: November 27, 2022

Job Description:

MAJOR PURPOSE: Effectively collect and monitor any delinquent loans and charged off balances in accordance with the policies and procedures established by United Credit Union and all Federal/State regulations. Oversee collections staff and provide leadership and guidance.

PRIMARY RESPONSIBILITIES: Preserves the Credit Union's assets by controlling and analyzing delinquent loan accounts, negative balance accounts, collecting delinquent loan payments and/or recovering collateral Maintains accurate files and reports on collections, recovery, and tracking documents Maximizes the collection and/or recovery of credit union assets from delinquent and charged-off accounts Ensures notices and contact with members regarding delinquent loans, negative balances, and negative over limit accounts, and actions to bring items current are completed accurately and timely per policies and procedures Make recommendations for workouts and charge offs. Analyze financial situation of delinquent borrowers; makes recommendations to repossess collateral when other arrangements to bring the loan current are unsuccessful Provide trend and forecast information to senior management Monitors the work of outside collection agencies and attorneys Posts payments appropriately in a timely manner Ensures the Collections staff, CFO and CEO are informed and aware of any critical key operational issues and make recommendations as necessary Prepare and analyze reports for senior management and/or the Board Assign, monitor, and supervise the work load in the Collections Department to ensure the smooth and efficient flow of work. Ensure the courteous and considerate interface with members at all time Evaluate the job performance of subordinates to ensure quality work and service to member Other duties as assigned by supervisor or management

POSITION REQUIREMENTS: Education and Experience: High School diploma or equivalent is required Associate degree in business or related field preferred Minimum of 5 years of related Bank/Credit Union work experience, or equivalent experience in related work with another employer in a Financial Institution Minimum of 1 year of management experience preferred

Knowledge/Skill/Abilities: Excellent math skills and basic accounting knowledge Excellent verbal and written communication skills Be able to work well with others Trustworthy and ability to work with integrity Exhibit competency in using current technology, such as computer, calculator, etc. necessary to complete required and miscellaneous responsibilities Knowledge of credit union practice and regulations Detail oriented and high degree of accuracy Ability to problem solve and take initiative Be reliable Knowledgeable of collection terms and processes Ability to be proactive Good problem-solving techniques Ability to be professional and assertive while maintaining member relationships Strong leadership skills

PHYSICAL DEMANDS Nature of the work requires prolonged periods of sitting and/or standing at a desk working in front of a computer and operation standard office equipment. Must be able to lift up to 15 pounds at times. WORKING ENVIRONMENT The majority of the work performed will be in an office environment. SUPERVISORY RESPONSIBILITY Yes. COMPENSATION INFORMATION: A competitive compensation and benefits package shall be offered to the selected candidate and includes the following: health, dental, vision, retirement plan, paid holidays, and paid time off.

EEO STATEMENT United Credit Union is an Equal Employment Opportunity Employer. United Credit Union employees are employees at will. Employment may be terminated for any reason and likewise United Credit Union may terminate employment for any reason with or without notice. Job Type: Full-time

Keywords: United Credit Union, Chicago , Collection Manager, Accounting, Auditing , Chicago, Illinois