Dover Federal Credit Union ยท 2 days ago
MEMBER SOLUTIONS MANAGER (COLLECTIONS MANAGER)
Dover, DE
Full-time
Onsite
Senior Level
5+ years expDover Federal Credit Union is seeking a Member Solutions Manager to lead the collections team and enhance the credit union's risk management efforts. The Manager will develop strategies to improve collections, oversee compliance with regulations, and mentor team members to achieve optimal performance.
BankingCreditCredit BureauFinancial ServicesLending
Responsibilities
Develop and execute strategies to improve collections efforts and team performance
Design and implement collection, outsourcing, and servicing strategies
Manage collections processes, third-party collections, and outside vendors
Analyze billing and collections data to identify trends and areas for improvement
Lead, mentor, train, and evaluate a collections team
Ensure compliance with debt collection laws and regulations
Stay updated on industry best practices and new technology
Recruit, train, and coach Servicing & Collection Specialists as the department grows
Manage & Mentor team members, provide support, and hold them accountable for success
Develop & implement appropriate incentive programs to influence/change behavior
Conduct regular meetings and performance reviews to assess team performance and provide feedback
Monitor and improve Servicing and Collection Specialist performance from both a compliance and profitability standpoint
Develop and implement KPIs and metrics to track team performance and drive results
Develop and implement Quality Assurance program
Manage and liaise with outside collection agencies, and attorneys
Support IVR operational configuration & maintenance
Support Telephony operational configuration & maintenance
Support CRM operational configurations & maintenance
Interact with technology service providers on business requirements, participate in user acceptance testing, and facilitate change management
Work collaboratively with accounting, sales, and underwriting departments to achieve servicing & collection goals
Work with key business partners to develop updated department policies and procedures, as well as department performance metrics
Directly handle a caseload of servicing & collection accounts including outreach, negotiation, monitoring and escalating collection efforts, as needed
Responsible for managing risks specific to related job functions with an expectation to make and support risk-informed decisions and remain diligent in identifying emerging risks that could jeopardize the success of the Credit Union
Engage in continuous learning and professional development opportunities to improve collections expertise
Provide leadership to team members through practical goal setting, training, coaching, and communication
Standardize processes and procedures to ensure consistent collections practices across regions or business units
Ensure team members are well-trained and effectively utilized to achieve optimal results
Monitor the effectiveness of the collections team's work and provide ongoing feedback and support
Work closely with the internal audit team to ensure adherence to set policies regarding debt recovery
Investigate and resolve customer complaints related to collections activities. Create reports summarizing collections activities and progress towards goals
Monitor payment trends and adjust collection tactics accordingly
Use customer feedback to identify areas for improving the payment process
Develop KPIs to track the performance of individual collectors
Implement preventative measures to reduce future delinquencies
Identify root causes of nonpayment and develop solutions to prevent future occurrences
Use reward and recognition programs to motivate collections staff and increase productivity
Foster a customer-focused collections approach that balances customer satisfaction with payment recovery goals
Ensure that all collection communications are professional, clear, and concise
Maintain accurate records related to interest, fees, and charges associated with delinquent accounts
Identify areas for cost savings related to debt collection activities
Develop and maintain relationships with key stakeholders in the collections process, including customers, suppliers, legal counsel, and regulatory agencies
Ensure all communications comply with industry regulations such as FDCPA, HIPAA, etc
Contribute to developing credit policies that mitigate risk while supporting business growth objectives
Ensure all collected funds are accounted for and recorded. Monitor changes in customer behavior or economic indicators
Educate customers on payment options
Track performance metrics such as average days in arrears
Use third-party vendors for debt collection
Train collectors on communication skills
Offer support services like credit counseling
Design collection strategies with priority accounts in mind
Gather customer feedback on the collection process
Maintain accurate records of each customer's payment history
Implement a skipping tracing program
Conduct regular surveys of customers' perspectives
Optimize debt recovery with skip tracing tools
Qualification
Required
Bachelor's degree in Business Administration, Accounting or Finance preferred
5 years collection experience required, including 2 or more years managing a team
At least 3 years of experience in the financial service industry required
Proficient knowledge of Microsoft Office
Intermediate mathematical skills required (calculations and concepts involving decimals, percentages, fractions, etc.)
Company
Dover Federal Credit Union
Dover Federal Credit Union is a part of the banking industry and helps customers in financial services, loans, credit and banking.
51-200 employees
Funding
Current Stage
Growth StageLeadership Team
Janell Upton
President and CEO
Donna Kiscaden
Chief Financial and Risk Officer
Company data provided by crunchbase