Collections & Recovery Manager
Company: 7 17 Credit Union
Location: Warren
Posted on: February 21, 2021
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Job Description:
ABOUT THE ORGANIZATION--7 17 Credit Union is a progressive
financial institution in Ohio offering credit union membership to
those who live or work in Trumbull, Mahoning, Columbiana, Portage,
Summit and central Stark counties. With 13 branches and state of
the art technology, 7 17 is able to provide banking services to
more than 87,000 members in the greater Youngstown, Warren,
Howland, Cortland, Vienna, Kent, Ravenna, Canfield and Canton
areas. 7 17 is a local, community-minded financial institution
driven by the credit union philosophy of people helping people.
DESCRIPTION--We seek a skilled Collections and Recovery manager to
lead a dynamic, fast-paced department. This salaried, exempt-level
position is responsible for ensuring effective collection of
delinquent amounts while minimizing losses.--Additionally, the
person will manage the recovery activities on all charge off loans
and shares in accordance with established policies, procedures, and
legal requirements.--The individual will be responsible for
protecting the Credit Union's interest from potential losses of
property on foreclosure, legal and bankruptcy matters while
overseeing attainment of judgments, garnishments, liens and other
legal procedures.Your primary duties will include but are not
limited to:* Collecting on all delinquent loans, including consumer
loans, mortgage loans, Visa accounts, share accounts, member
business loans and other loans as assigned.* Oversee the collection
activities for consumer loans, VISA accounts, commercial, student
loan, mortgage, and share accounts.* Oversee the repossession
procedures.* Oversee FDCPA and FCRA procedures. Prepare periodic
reports on collection activities and any additional
reports/analysis required.* Review, accept, decline and re-age
consumer credit counseling proposals.* Develop and implement a
training program for new employees to the Collections or Recovery
Department.* Follow the company charge off policies by identifying,
tracking, and preparing monthly charge off accounts.* Manage the
recovery process and personnel to maximize the recovery of money
owed the Credit Union while minimizing losses. Recovery functions
include legal, foreclosure/Owned Real Estate (ORE), bankruptcy, and
probate matters.* Research, prepare and approve delinquent mortgage
loans referred by collections for possible legal/foreclosure
action.--Answer foreclosure complaints.* Assign accounts and
forward all necessary documents to in-house counsel. Oversee all
post-foreclosure activities including public notifications, bids,
sheriff sales and evictions. Maintain and update status of
foreclosures in the appropriate reports and systems.* Oversee
property maintenance and preservation of all abandoned and ORE
properties. * Request, record and properly manage expenses related
to loss mitigation.* Oversee the liquidation of assets and ensures
proper reporting of all ORE properties of the Credit Union.* Follow
up with outside counsel to determine suit status.* Ensure
compliance with applicable internal policies and regulatory
requirements.POSITION REQUIREMENTS- Minimum of seven years of
collections experience, with at least three years in recovery
experience.- Minimum of three years of management experience.-
Minimum of three years of real estate collections experience
including foreclosure, bankruptcy, loss mitigation solutions and
various insurance claims.- Possess a minimum of three years of
experience with field services to include property preservation,
securing property, grass cutting, and such preferred.- A working
knowledge of laws, regulations and rules governing recovery and
collections.- Ability to communicate professionally in writing and
orally to the standards commensurate with the legal profession.- A
proficiency in MS Excel to include a working knowledge of formulas,
functions, and macros commonly used in financial and legal
institutions.EDUCATION--Bachelor's degree in a relevant field or
equivalent combination of experience and education
Keywords: 7 17 Credit Union, Warren , Collections & Recovery Manager, Executive , Warren, Ohio
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