Collections Manager - Tennessee Valley Federal Credit Union (TVFCU) : Job Details

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With $3 billion in assets, Tennessee Valley Federal Credit Union (TVFCU) is a progressive member-focused financial institution, respected as one of the most financially sound in the industry. With 27 branches and using state-of-the-art technology, TVFCU provides financial services to more than 175,000 members in Southeast Tennessee and North Georgia. TVFCU was recently named the Best Credit Union in the state of Tennessee by Forbes.This position requires working onsite at our downtown Chattanooga facility.Job SummaryThe Collections Manager is responsible for leading a team of collectors to ensure the effective and timely review and resolution of past due consumer, mortgage, and commercial accounts. This role plays a crucial part in protecting the credit union's assets, financial interest, and reputation. The Collections Manager will take a proactive approach to identify solutions for past due accounts that benefit both the borrower and the credit union. In cases where no resolution can be reached, the Collections Manager will oversee foreclosure and repossession processes to a successful conclusion. Additionally, the Collections Manager will collaborate with others to review, structure, and recommend appropriate loan modification and workout requests. Motivating staff daily to achieve goals through productivity, accuracy, and efficiency is also a key aspect of this role.Essential Duties And Responsibilities

• Maintain an efficient and effective collection process.
• Manage the production and results of collection staff, including monitoring all past due accounts and reporting via multiple software systems such as Excel and other reporting software.
• Ensure all collection activities, including collateral repossession, mortgage foreclosure, liquidation, and subsequent charge-off processes, meet credit union, state, and federal lending regulations.
• Oversee all aspects of departmental staffing, including hiring, training, coaching, and developing collections department staff.
• Set departmental goals and establish performance minimums, monitoring personnel production by tracking goals on a daily/monthly basis.
• Stay current on collection industry technology, trends, regulations, and best practices.
• Evaluate the effectiveness of current procedures, develop and recommend changes, and implement changes in the collection department.
• Collaborate and work with other areas within the credit union to establish practices and procedures to accomplish the credit union's mission.
• Represent the credit union in small claims, municipal, and bankruptcy courts.
• Assist the Director of Collections and Loan Support, CFO and Accounting Manager in preparing the Allowance for Loan and Lease Losses.
• Establish and maintain critical vendor relationships, tracking performance and performing annual vendor due diligence.
• Monitor and track collection trends.
• Perform other collection, risk, or credit union-related duties as assigned or needed for the benefit of the credit union, the collection or risk departments, or assist in such tasks as deemed appropriate, including handling escalated collection calls.
• Maintain knowledge of branch operations by completing Deposit Regulation and Product and Service Certification courses.
• Proactively demonstrate the TVFCU core values of integrity, honesty, flexibility, teamwork, leadership, accountability, and strong relationships in every interaction with members.
• Perform other duties as assigned.

Educational And Work Experience Requirements

• Bachelor's degree in a related field preferred, but may be substituted by extensive related experience.
• A minimum of 5 years of similar or related experience in a consumer, mortgage and commercial collections department within a financial institution.
• A minimum of 3 years of successful experience supervising and coaching direct reports.
• Strong knowledge of collection, repossession, and credit reporting laws and requirements with a knowledge of Tennessee law preferred. Knowledge of the Current Expected Credit Loss standard preferred.
• Preferred experience with selecting, launching and administration of collection platforms.
• Preferred experience with loan origination, underwriting and processing in financial institutions.
• Must possess the ability to remain calm, patient, objective, and professional when presented with difficult situations.
• Must be able to work in a time sensitive environment, making sound decisions, communicating these decision to members as well as internal staff.
• Excellent communication and organizational skills.

Additional Qualifications

• Proficiency in collection platforms, customer relationship management (CRM) systems, or reporting software.
• Demonstrated leadership and team development skills.
• Strong understanding of compliance and risk management principles, especially regarding collection laws and regulations.
• Analytical skills for evaluating collection trends, identifying process improvements, and recommending changes.
• Commitment to continuous learning and professional development.
• Ability to collaborate effectively with other departments and communicate clearly and professionally.
• Experience with key performance indicators (KPIs) or metrics monitoring and achievement.

If you are considered for an offer of employment at TVFCU, you must successfully complete a pre-employment screen that includes:

• Verification of education, employment and other pertinent data included on your employment application, and eligibility to work in United States.
• Criminal background check and drug screening.
• Pre-employment credit check required

Pre-employment screening helps TVFCU provide a safe environment for our members and employees, minimize risk, and ensure federal compliance.

Seniority level

• Seniority levelMid-Senior level

Employment type

• Employment typeFull-time

Job function

• Job functionAccounting/Auditing and Finance

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