Collections Manager

Company: First Commerce Credit Union
Location: Tallahassee
Posted on: May 13, 2025

Job Description:

Come GROW with us!

Make sure to apply with all the requested information, as laid out in the job overview below.

Join our dynamic, winning team at First Commerce Credit Union, where you can expect competitive pay, best in class benefits, initial and ongoing training and development, and opportunities for career growth. Meet sales and referral goals and get rewarded while you empower people to enhance their financial well-being and make a difference in your community. Apply today!

The Collections Manager ensures the effective and regulatory compliant execution of the full breadth of collections strategies, systems and operations for the credit union. This includes an ongoing evaluation of best practices and ensuring efficiency and productivity remain at very high levels. The Collections Manager performs a variety of tasks to include management (through direct reports) of account extensions, modifications, foreclosures, repossessions, bankruptcies, loss mitigation, delinquency reporting, vendor coordination, and project management across FCCU's lending spectrum.

This position requires a skill set that encompasses all of FCCU's lending lines of business including consumer secured and unsecured loans, credit card debt, real estate loans as well as commercial loans. This position leads, directs, and continuously improves the work of an efficient, high functioning collections team, to assure internal controls are in place to protect assets from loss. This includes identifying and correcting weaknesses on the team; ensuring each team member is well suited for his or her role; ensuring each is fully trained; ensuring that proper cross-training has occurred as appropriate; and ensuring that each team member remains current with regard to changes in the regulatory environment. This position is also responsible for ensuring compliance with all FCCU guidelines, policies and procedures, and the full array of regulatory operational requirements, standards and guidelines.

The Collections Manager is responsible for ensuring attainment of quarterly and annual financial goals of the credit union while working with the Lending, Finance, and Member Service departments. The incumbent is responsible for developing and managing collections projects to ensure FCCU is positioned for success with the identification and implementation of effective contemporary collections systems and strategies.

RESPONSIBILITIES:

Directs, manages, and controls the operation of the Collections Department to effectively meet FCCU lending objectives, collaborating with their senior manager on related matters.
Consults, as appropriate, with FCCU's designated attorneys regarding legal actions to be taken.
Plans collection strategies and directs the collection operations and functions including the application of knowledge, research, and analysis to effectively address all issues. Resolves, in a professional manner, escalated complex operational and member problems that cannot be resolved by other members of the collection's team.
Accurately prepares and analyzes monthly department reports and assists in the preparation and maintenance of the annual budget for the department.
Hires, motivates, evaluates, audits, and develops department team members to their full potential so as to ensure professional and quality service is provided to members while concurrently understanding their challenging circumstances.
Communicates daily with staff to resolve questions or to interpret policies and procedures. The position is also responsible for reviewing, updating, and informing staff of changes to policies and procedures, new services, and government regulations as they pertain to collections.
Ensures training is instituted when needed.
Prepares timely and accurate monthly, quarterly, and annual reports on collection activities and their impact on loan portfolio performance.
Arranges the disposition of collateral in the best interest of the member in order to maximize the net recovery to the credit union.
Monitors productivity of third-party collection agencies and service providers, and establishes departmental performance measures, being mindful of member relationships.
Recommends action items, policy updates, and projects to meet FCCU strategic goals. Monitors progress and reports status to the senior manager and members of Senior Management, as required.
Ensures compliance with all FCCU policies, state, federal, U.S. Bankruptcy Code, and NCUA regulations and laws.
Maintains sensitive and confidential information and exercises tact and diplomacy in dealing with highly sensitive, complex, and confidential issues and situations.
Performs related tasks as assigned.
Stays informed of changes in collections policies and procedures, along with related legal, regulatory, and investor requirements.
Performs effectively relative to policy compliance; documentation standards, accuracy in credit grading, and/or other loan administration matters.

Leadership Duties:

Ensures that the Collections Team delivers prompt, accurate, and courteous external and internal service in accordance with our Service Standards.
Oversees the quality and speed of department team. Offers and manages clear expectations of service levels.
Prepares and/or analyzes relevant special reports for distribution to Senior Management, while maintaining departmental records and files.
Works within an approved budget; Develops and implements cost saving measures and conserves organizational resources.
Responsible for hiring, training, scheduling, development, coaching, counseling, evaluating, and overall leadership management of credit union staff.
Sets and achieves challenging goals; Demonstrates persistence and overcomes obstacles; Measures self against standard of excellence; Takes calculated risks to accomplish goals.

Other Responsibilities:

Performs job duties in accordance with policies established by the Board of Directors under the rules and regulations set by the National Credit Union Administration, the State of Florida and any applicable State laws for financial centers located in other States.
Complies with Reg E, BSA, OFAC and CIP requirements such as reporting suspicious or unusual activity to manager.
Fully supports in actions and words First Commerce's Vision, Mission, Core Values and Service Standards
Attends meetings timely and as required; reports to work as scheduled and adheres to First Commerce's dress code.
Performs other duties as assigned.

REQUIREMENTS:

Ability to work with mathematical concepts that apply to financial results, trend analysis, variance analysis, and correlation.
Ability to understand and analyze financial, technical and operational data reports, and develop reasonable conclusions/recommendations based on analysis.
Ability to maintain current knowledge of best practices, principles, procedures, methods and default management, along with techniques for optimizing FCCU's loss mitigation results.
Demonstrated ability to motivate staff, maintain and reinforce morale, and build a collaborative work team environment.
Ability to lead a diverse project team, manage multiple project tasks, concurrently and effectively coordinate and control cross-functional implementation plans.
Ability to interact effectively and establish collaborative professional working relationships with team members, peers, and managers.

EDUCATION AND EXPERIENCE:

A minimum of 7+ years of progressively responsible collections management or related experience in a high-volume collections environment. Experience should include 5+ years of management experience or an equivalent combination of education and experience within collections or default management industry.
Working knowledge of FNMA, FHLMC, and /or loan investor requirements.
Experience in collecting all types of loans offered by the credit union including secured and unsecured consumer loans, credit card debt, real estate loans, and commercial loans.
A minimum of Bachelor's degree in business administration, finance, or a related field.

Keywords: First Commerce Credit Union, Tallahassee , Collections Manager, Accounting, Auditing , Tallahassee, Florida