AVP, Associate Director of Credit, Collections, & Recovery

Job Description

Job Description

At Stearns Bank, we’re helping people, entrepreneurs, small businesses, and local communities nationwide reach their full financial potential. Sound like something you want to be a part of? If so, we’re currently looking for an AVP, Associate Director of EFD – Credit, Collections, & Recovery Specialty. This is a Connected Mobile Work Environment.

Come see how we’re doing business unusual and charting our own path to reimagine a more inclusive financial services and banking ecosystem for all.

BENEFITS

Stearns Bank understands and respects that everyone is managing unique career, family, and wellness needs. That’s why we offer industry-leading benefits to employees to help them live healthy lives and bring their full selves to work every day. Benefits may vary for part-time positions. Some of those benefits include:

• Employee Stock Ownership Plan & 401k Plan

• Healthcare (Medical, Dental, Vision, Telehealth, Life insurance)

• 12-week Paid Parental Leave and Medical Leave: With a cap of 20 weeks for eligible team members who qualify for both Medical and Parental Leave related to the birth of a child.

• $5,000 Family Care Reimbursement: Childcare, Elder Care, Student Loan Debt, Pet expenses, Down Payment Assistance

• PTO from 13 to 23 days depending on tenure. Cashout and Carryover options

• 10 Days Sick Time

• 11 Paid Holidays

• 4 Days Volunteer Time

• 2 Days Self Allowance Time

• Tuition Assistance

For this position, we anticipate a salary range between $115,000 - $180,000.

Final employment offers will be dependent upon the selected candidate’s relevant qualifications and experience.

JOB SUMMARY

The Associate Director of EFD Credit, Collection & Recovery is responsible for leading, developing and strategically managing the Equipment Finance credit, collections, and recovery functions. This role requires advanced operational leadership, strong cross functional collaboration and partnership, and a very proactive approach to efficiency optimization, KPI-driven performance management, and critical thinking-based decision making. This position will require extensive communication with all business units within Equipment Finance Division (EFD) and other internal departments within Stearns Bank.

RESPONSIBILITIES

Leadership & Strategy

• Provide discipline, vision, and oversight for EFD credit and accounts receivable (collections & recovery) functions, ensuring processes are standardized, controlled, transparent and responsive.
• Lead the strategic direction and continuous efficiency improvements of our Equipment Finance credit, collections, & recovery functions, including frequent review of the Bank’s loan policy and underwriting standards and bringing forward recommended updates to executive leadership to ensure compliance with regulatory requirements and our Stearns Bank N.A. “Credit Strong” culture.
• Build, measure and sustain accountability, urgency, precision, Gold Standard service, financial discipline, and process integrity within the EFD Credit and Accounts Receivable Teams.
• Work with other departments to ensure all processes function seamlessly, setting and enforcing clear ownership, accountability, and performance expectations for the EFD Credit and Accounts Receivable teams and function.
• Establish, manage, and report on EFD credit and accounts receivable performance metrics.
• Provide high-impact strategic leadership and ensure team culture reflects accountability, communication, and performance excellence.

Workflow & Process Management

• Identify & lead key projects, transformational initiatives and cross functional workstreams.
• Establish key performance and key risk indicators to oversee and effectively monitor processes that determine effectiveness.
• Partner with development teams to enhance processes with Salesforce, Aspire, .Net options etc. where needed.

Financial Budget Oversight

• Manage the budget for EFD Credit and Accounts Receivable, ensuring that staffing and capacity aligns with production trends and strategic objectives.
• Manage proper business unit assignments for all EFD Credit and Accounts Receivable resources and expenses.

Team Leadership & Development

• Mentor and develop high-performing professionals within credit and accounts receivable.
• Promote culture of urgency, precision, professional communication, and financial ownership.
• Provide effective leadership and development for the EFD credit and accounts receivable teams and leaders including performance management, staffing, talent development, and cross training.
• Model focused partnership level collaboration with internal teams, vendors, and customers and reinforce those behaviors across the team.
• Demonstrate a continual professional self-improvement mindset through continued training and education.
• Lead and manage under conditions of ambiguity and uncertainty.

Communication

• Lead strategic meetings with executives, team leaders, and business partners to resolve bottlenecks, align priorities, and improve service delivery.
• Demonstrate a senior leadership level communication, influence, and negotiation skills.
• Consistently demonstrates high quality documentation and reporting skills.
• Communicates KPIs/KRIs, challenges, and solutions effectively to senior management.
• Demonstrates the ability to restate/clarify discussions to ensure alignment with team members and business owners.
• Presents confidently to senior leaders and large internal groups.

Core Competencies

• Highly organized, detailed-focused, financially disciplined, and decision and execution orientated.
• Service mentality balanced with accountability and a risk management perspective.
• Strong collaborator who aligns with lending, credit, operations, finance/liquidity, legal, compliance and all other internal and external teams as necessary.
• Analytical thinker with a bias for improvement, escalation, and resolution.
• Calm under pressure and confident in managing deadlines, findings and change.

REQUIREMENTS

• Occasionally lift and/or move up to 10 lbs.

• Literacy in English.

• Ability to sit for extended periods of time, twist, bend, sit, walk use hands to twist, handle or feel objects, tools or controls, such as computer mouse, computer keyboard, calculator, stapler, telephone, staple puller, etc., reach with hands and arms, balance, stoop, kneel, talk or hear.
• Specific vision abilities required by the job include close vision, distance vision, peripheral vision, depth perception and the ability to adjust focus.

QUALIFICATIONS

• Bachelor’s degree in accounting, business administration or finance from a four-year college or university.
• Experience in equipment finance required.
• 7+ years related experience including 3+ years in leadership capacity.
• Strong interest in technology and automating the credit underwriting process and workflow.
• Background in equipment finance loss recovery, litigation and/or commercial transactions including secured transactions, workout/litigation, collections, creditors’ rights and bankruptcy.
• Proven experience with workflow optimization, budget ownership, fee process discipline and KPI driven management.
• Strong knowledge of equipment finance underwriting.

THE COMPANY

Founded in 1912, Stearns Financial Services Inc. (SFSI) is a $3.2 billion, independently owned financial institution with locations in Minnesota, Florida and Arizona, and over 35,000 small business customers nationwide. Specializing in affordable housing financing, USDA and SBA lending, and small business and equipment financing, Stearns Bank is regularly recognized as one of the country’s top-performing banks and “Best Banks to Work For” by American Banker.

As a Star Tribune Top Workplaces award recipient and an award recipient of the Minnesota Business Magazine 100 Best Places to Work in Minnesota, Stearns takes pride in their team and holds their employees in extremely high regard. We offer a competitive salary and benefit package including our Employee Stock Ownership Program-one of the best long-term incentive programs in the nation. To learn more about Stearns Bank, visit

EQUAL OPPORTUNITY EMPLOYER /AFFIRMATIVE ACTION PLAN

We are an equal opportunity employer and all qualified applicants will receive consideration for employment without regard to race, color, or creed, religion, sex, marital status, familial status, sexual orientation, national origin, age, disability, veteran’s status, status with regard to public assistance, or any other class protected by Federal, State, local laws governing nondiscrimination in employment.