Collections & Recovery Manager

Company: 7 17 Credit Union
Location: Warren
Posted on: February 21, 2021

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