Retail Collections Manager

Retail Collections Manager

Merchants Bank, Winona, is seeking a Retail Collections Manager.

This position is responsible for supervision of the Customer Recovery staff and overseeing the collection of consumer, mortgage, and credit card accounts that are delinquent, charged off, or experiencing other repayment issues. Responsibility also includes planning, directing, and controlling the retail loan collection function ensuring that established collection policies, procedures, and legal requirements are followed and periodically evaluated and modified as needed. Responsible for repossessions, foreclosures, and management of Other Real Estate Owned (OREO).

A minimum 5 years of experience in bank collection practices and procedures required. 2+ years of supervisory experience preferred. Requires a well-organized individual with good communication skills and ability to make sound, independent judgments. Must enjoy dealing with and serving people and have good problem-solving skills. Customer confidentiality is critical.

Merchants Bank offers competitive wages and benefits for our full-time employees including health, dental, life, disability and vision insurance; flexible spending accounts, 401(k) and ESOP retirement plans; bonus plan; paid time off; tuition reimbursement; and a variety of voluntary supplemental insurance options.

Essential Responsibilities:

• Contact customers regarding delinquent consumer, mortgage, and credit card accounts according to bank, investor, and regulatory guidelines
• Recommend possible loan modifications or other loss mitigation solutions, repossession, charge off, or foreclosure
• Underwrite hardship packages in accordance with bank, investor, and mortgage insurance guidelines
• Oversee and coordinate with attorneys for handling of court procedures for collection of loans
• Oversee and manage bankruptcy filings for consumer, mortgage, and credit card accounts
• Oversee and manage the handling of mortgages from delinquency through foreclosure and sale
• Facilitate the preservation and disposition of foreclosed and repossessed property
• Oversee the management of continuous overdrafts on retail accounts for potential account closure
• Ensure timely filing of mortgage insurance claims
• Manage FNMA/Freddie Mac reimbursements
• Report delinquent mortgage loan activity to investors and mortgage insurance companies as required
• Oversee preparation of all delinquency and collection area reports for management and the board
• Complete quarterly liquidation reports for all loans on non-accrual
• Utilize and manage collection software, oversee updates, train staff, and utilize to create efficiency in monitoring and reporting
• Maintain thorough knowledge and understanding of bank, investor, and PMI policies, procedures, and guidelines and ensure compliance with all applicable federal, state, and local regulations
• Employee will be expected to contribute to a positive working environment through words and actions.
• Employee will be expected to greet internal and external customers in a friendly and outgoing manner.
• Employee will be expected to take responsibility to ensure that internal and external customers receive outstanding service.
• Employee may be asked to perform other duties as required by business needs.
• Employee will be expected to complete compliance and product knowledge assignments in a timely manner.
• Regular and dependable attendance is an essential function for this job.
• Adherence to compliance with laws concerning financial institutions.

Physical Working Conditions:

Primarily inside working environment. Low noise. Will have need for limited outside work when performing duties in the collection of collateral.

Physical Demands:

Primarily sitting desk work; secondary, will need ability to physically maneuver outside for limited periods of time. Will not require heavy lifting. Ability to use a computer is required.

Mental Demands/Skill Requirements/Competencies/Education:

• Minimum 5 years of experience in bank collection practices and procedures
• 2+ years of supervisory experience preferred
• Bachelor's degree preferred or high school diploma combined with relevant comparable work experience
• Strong knowledge of and experience with Fannie Mae, Freddie Mac, FHA, USDA, and Private Mortgage Insurance collections and reporting guidelines required
• Forbearance, modification, loss mitigation, foreclosure, and repossession experience required
• Strong verbal, written, and human relations skills and ability to deal tactfully with customers
• Servant leadership and team building skills with the ability to train others
• High level of attention to detail and the ability to meet deadlines

Position requires above average aptitude in dealing with people; ability to communicate with clarity; ability or aptitude in the areas of reasoning, intelligence, and numerical perception. Position requires individual to be action-oriented, an excellent team player, ability to manage time and work effectively, manage self-development, possess strong oral and written communication skills, and leadership skills. Customer confidentiality is critical in this position.

Relationships:

Will have extensive customer and co-worker contact; must conduct self in a manner that will create a positive impression for the Bank. Responsible to the SVP/Chief Credit Officer for fulfillment of functions, responsibilities, and authority for their proper interpretation.

This job description may be modified based on the company needs at any time, may require employee to perform functions beyond those mentioned in this job description, and employee is an at-will employee.