The Director of Collections provides leadership and strategic direction to the collection and loss mitigation efforts of Downeast Credit Union’s loan portfolio. This position is responsible for overseeing collection efforts by analyzing the credit quality of the portfolio, managing delinquent accounts, implementing collections strategies, and the loss provisions and allowance for the loan and lease loss methodology. Collections efforts include working with borrowers to make their payments, recovery efforts, and disposition of collateral. The Director of Collections is responsible for directing and motivating the collections team, in meeting organizational goals and collaborating with key stakeholders to achieve organizational objectives. The Director of Collections also ensures compliance with state and federal credit and collection rules and regulations in all collection practices. This position can be remote, in one of our branches, or a combination of both. The Director of Collections must reside in the State of Maine.
The Director of Collections performs a variety of duties, including, but not limited to the following: • Manages the overall operations of the Collections department, which includes handling seriously delinquent accounts, complex collection issues, and those accounts recommended for charge off, in collaboration with the SVP of Lending & Branches; • Responsible for accounts and safeguarding security on foreclosure, repossession and assets in liquidation. Prepares for and attends all court hearings for Credit Union loss litigation, in both state and federal court. Collaborates with attorneys on foreclosures and expedited collections; • Works with other lending management to enhance both internal and external member service, addresses substandard Commercial, Consumer, mortgage and home equity loan underwriting trends; • Assists with development policies within area of responsibility to ensure compliance with all state and federal laws and regulations; • Supports internal and third-party audits; • Prepares the monthly calculation of current expected credit loss (CECL) and assesses the appropriateness of reserves: • Assists in and prepares statistical information and reports for management and regulatory agencies, including the Call Report on a quarterly basis; • Provides management to Collections employees. Directs work, assists with problem solving, supports professional development and coaching, performance management and work/life balance; • Other duties as requested.
The ideal candidate will demonstrate the following: • 3-5 years of collections or similar experience, preferably in a financial institution; • Previous supervisory experience required; • Minimum of a high school diploma required; a bachelor’s degree preferred. • Qualified candidates will be member service oriented and demonstrate excellent critical thinking, problem solving and interpersonal skills.
Benefits: • 401(k) • 401(k) matching • Dental insurance • Employee discount • Health insurance • Paid time off • Vision insurance
Equal Opportunity Employer
Please send your cover letter and resume to: Human Resources at humanresources@downeastcu.com. You may also stop by any branch of Downeast Credit Union for an application, or download an application here.
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