Vice President Collections

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The deadline to apply for this opportunity is May 17, 2024.

Role : Reporting directly to the Chief Lending Officer, the VP Collections is an integral member of the credit union's leadership team. The successful incumbent will be an experienced, strategic collections leader with shared responsibility for the health of the loan portfolio. As a not-for-profit financial institution, ORNL FCU is committed to People over Profits, and our collections strategy will reflect that focus on assisting our members through challenging circumstances through a successful collection, workout, and recovery operation.

Essential Functions & Responsibilities :

• Develops and implements collections strategies to manage delinquencies and losses while maximizing member retention and financial success.

• Must have advanced knowledge of collection procedures, call center procedures and technology, consumer bankruptcy laws and procedures, repossessions, foreclosure and recovery.

• Identifies goals and metrics that align with the organization's lending strategy and risk tolerance; monitors and analyzes collection performance and trends; and proactively adjusts to trends, technological advancements, regulatory requirements, and economic changes, as appropriate.
• Manages a robust team of management and staff level employees in collection, repossession, garnishment, foreclosure, and recovery activities.

• Oversee complex bankruptcies, repossessions, workout and loan modifications; assists collectors with assessing collections options, tools and implementation of tactics including inbound and outbound calling strategies.

• Provides the staff with the appropriate level of guidance, coaching and training as needed.
• Collaborates with other departments, such as Lending, Risk Management, and Fraud, to develop and implement policies and procedures that mitigate risk.
• Stays abreast of industry regulations and compliance requirements related to collections practices and ensures the department operates within legal and ethical guidelines.

• Must have working knowledge of laws and regulations pertaining to Collections and Lending, including FDCPA, FCRA, FACTA, TCPS and fair lending regulations, and management and control of operations to ensure compliance.

• Represents the credit union in legal proceeding related to collections activities, including bankruptcy filings and foreclosure proceedings.
• Provides all necessary support to internal general counsel and third-party attorneys needed to work accounts to resolution.

• Strong interpersonal skills and a decisive approach to problem solving required, which facilitates interaction with members at all levels and particularly with members who often face challenging financial situations.

• Prepares regular reports for senior management on collections performance and trends.
• Performs other job-related duties as assigned.

Experience : Five or more years of experience in consumer collections required to include HELOCs within a financial institution, with at least three years in a collections leadership role is required. Experience with AKUVO and/or Temenos collections systems is a plus.

Education : Bachelor's degree in a business related field, or an equivalent combination of experience and education is required.

Additional skills required :

• Excellent leadership, communication, and interpersonal skills, including the ability to clearly and simply present complex collections strategies and concepts to internal collections staff, cross-functional executive teams, and the CEO and Board of Directors.
• Proven ability to develop and implement effective collection strategies.
• Must be detail-oriented with strong analytical and problem-solving abilities.

Equal Opportunity Employer/Protected Veterans/Individuals with Disabilities

The contractor will not discharge or in any other manner discriminate against employees or applicants because they have inquired about, discussed, or disclosed their own pay or the pay of another employee or applicant. However, employees who have access to the compensation information of other employees or applicants as a part of their essential job functions cannot disclose the pay of other employees or applicants to individuals who do not otherwise have access to compensation information, unless the disclosure is (a) in response to a formal complaint or charge, (b) in furtherance of an investigation, proceeding, hearing, or action, including an investigation conducted by the employer, or (c) consistent with the contractor's legal duty to furnish information. 41 CFR 60-1.35(c)