AVP Collections

ESSENTIAL FUNCTIONS:

• Owns the overall health and performance of the Credit Union’s delinquency and collections portfolio, including monitoring delinquency trends, roll rates, charge-offs, recoveries, repossessions, cure rates and other key portfolio indicators.
• Analyzes portfolio and member data to identify trends, emerging risks, opportunities and treatment effectiveness and translates findings into actionable collection strategies.
• Uses account segmentation, risk tiers and member data to optimize cross-channel collection treatments, including automation, digital outreach, outbound calls, inbound interactions and other appropriate human interventions.
• Continuously evaluates collection treatment effectiveness and refines segmentation, workflows, channels, timing and strategies to improve contact rates, cure rates, recoveries and member outcomes.
• Directly manages and develops the Assistant Manager, Collections and provides leadership, coaching and accountability for the seven collectors.
• Oversees daily collections operations through the Assistant Manager, including workload management, staffing, productivity, quality, training, coaching, cross-training and adherence to policies and procedures.
• Ensures effective management of payment arrangements, promise-to-pay commitments, delinquent loans, negative shares, hardships, credit card delinquency and charge-offs.
• Provides oversight of repossessions, deficiency balances, bankruptcies, foreclosures, loan modifications and other complex or high-risk collection matters.
• Oversees commercial collections and develops appropriate strategies for commercial delinquency and recovery.
• Determines or approves accounts for charge-off in accordance with Credit Union policy and ensures timely placement, recovery and reporting of charged-off accounts.
• Evaluates, selects, manages and monitors third-party collection agencies, legal counsel, skip-trace vendors, repossession companies and other collection-related service providers.
• Establishes performance expectations and service standards for third-party vendors, evaluates results and takes corrective action when performance, compliance or contractual requirements are not met.
• Maintains effective relationships with collection agencies and legal counsel and consults on bankruptcy, foreclosure, litigation and other legal collection matters.
• Represents the Credit Union in relationships with repossession companies and oversees the recovery and liquidation process, including appropriate auction and floor-limit decisions.
• Prepares, reviews and maintains accurate delinquency, charge-off, recovery and portfolio reports for the Board of Directors, senior management and other stakeholders.
• Provides senior management with timely analysis of loan portfolio trends, collection performance, risks, opportunities and recommended actions.
• Prepares and manages the Collections budget, reviews invoices and controls expenses within Credit Union guidelines.
• Selects, hires, develops, motivates and coaches associates; promotes cross-training, knowledge transfer and succession planning.
• Evaluates associate performance through timely reviews and recommends promotions, salary adjustments and corrective actions, including termination, as appropriate.

Experience / Training / Education:

• Bachelor’s degree in Business Administration, Finance, Lending, Accounting or a related field, or equivalent knowledge and experience.
• Seven years of progressively responsible experience in collections, loan servicing, lending operations, recoveries or a related financial institution environment.
• Three - five years of supervisory or management experience, preferably with responsibility for collections, recoveries or delinquency portfolio management.
• Demonstrated experience managing delinquency, charge-offs, recoveries, repossessions, bankruptcy, foreclosure and loss mitigation activities.
• Experience using portfolio data, account segmentation and analytics to develop or improve collection strategies.
• Experience managing third-party collection agencies, legal counsel, skip-trace vendors, repossession companies or other collection service providers.
• Experience in customer relations, problem resolution and error correction.

What We Offer

• A People-First Culture: We lead with empathy and authenticity.
• Anthem HMO/PPO, Delta Dental, and Unum options – from day one!
• 401(k) with up to 6% employer match
• Annual discretionary bonus
• Annual merit increase
• Educational grants up to $1,000
• 18 vacation days/year (increases to 21 after 5 years)
• Final offers based on qualifications, experience, and internal equity. The range for the AVP Collections role is $125,761 - $157,200 annually.

Orange County's Federal Credit Union is an Equal Opportunity Employer. Pre-employment screenings, including background and credit checks, are required.