COLLECTIONS DEPARTMENT FUNCTIONAL MANAGEMENT

In partnership with senior level management develops and implements strategies, tactics, processes, reports, and controls for:

• Expense forecasting, review, approval and management
• Delinquency and loan loss forecasting and budgeting, supported by detailed analysis
• Organizational structure optimization
• Tools and technology review, planning, selection and management, including RPA and AI, to leverage technological and operational efficiencies for members and department and enterprise project participation and management
• Loan portfolio risk management optimization, ensuring that actual risk aligns with MCU stated collection risk tolerances
• Lending Risk Management, partnering with Loan Underwriting to pro-actively manage risk/reward strategies and execution
• External (MCU Executive) functional reporting, review, and analysis
• Loan loss provision (CECL) management
• Vendor review, selection and management

In addition to the responsibilities specifically outlined above, the Collection Manager must continually look to the future: how will we fulfill our mission next year? In five years? Keeping abreast of best practices across the spectrum of collections operations is required. The Collections Manager is expected to network with peers across the Credit Union and financial services landscape to ensure MCU’s collections operations deliver great Member service, risk mitigation delinquency remediation, and loss minimization as efficiently and effectively as possible, using the most cost-effective combination of human and technology resources. The Collection Manager is also responsible for ensuring appropriate communication and cooperation with other functional areas within MCU. This entails developing and maintaining effective professional working relationships with superiors, peers, and subordinate colleagues across the MCU enterprise. The Collections Manager will interact most frequently with MCU’s Lending, Finance, HR, Compliance, and Member Services teams.
Performs other duties as assigned

EDUCATION/CERTIFICATION:

• Bachelor’s degree in business, Finance, Data Analytics, or a related field, or an equivalent combination of education and experience. Relevant experience in collections, risk management, or data analysis may be considered in lieu of a formal degree.
• Minimum of five (5) years of experience in the financial services sector, with at least 2 years in a leadership or supervisory capacity. Credit Union or Banking experience is preferred.
• At least two (2) years of collections or sales experience in the financial services sector.
• At least intermediate level proficiency with Microsoft Excel with strong technology skills and aptitude
• Excellent interpersonal, communications, analytical and problem-solving skills are required.
• Demonstrated experience working cross-functionally with departments such as Risk, Legal, Member Service, and Technology to ensure cohesive collections strategies.
• Familiarity with collections management software, CRM systems, and other financial technology platforms.

REQUIRED KNOWLEDGE:

• Basic understanding of Credit Union operations.
• Proven experience with digital collections strategies, including the use of automated collections tools, AI-driven systems, or similar technology.
• Proficiency in data analytics tools and predictive modeling software (e.g., Python, R, or SAS) to analyze borrower data and implement risk-based collections strategies.

EXPERIENCE REQUIRED:

• Four to five years lending and collection experience and 2 years in leadership.

SKILLS/ABILITIES:

• Good communication skills.
• Professional appearance, dress, and attitude.
• Good organizational, problem-solving, and prioritizing skills
• Ability to operate related computer applications, and other business equipment including calculators, typewriter, printer, scanner, and telephone
• Good typing skills
• Negotiating skills

PHYSICAL ACTIVITIES AND REQUIREMENTS OF THIS POSITION

• TALKING: One must frequently convey detailed or important instructions or ideas accurately, loudly, or quickly.
• REPETITIVE MOTIONS: Movements frequently and regularly require using the wrists, hands, and/or fingers.
• FINGER DEXTERITY: Primarily using fingers to make small movements such as typing, picking up small objects, or pinching fingers together.
• AVERAGE HEARING: Able to hear average or normal conversations and receive ordinary information.
• AVERAGE VISUAL ABILITIES: Average, ordinary visual acuity is necessary to prepare or inspect documents, products, or operate machinery.
• PHYSICAL STRENGTH: Exerts up to 20 lbs. occasionally and/or up to 10 lbs. frequently.

MENTAL ACTIVITIES AND REQUIREMENTS OF THIS POSITION

• REASONING ABILITY: Ability to deal with a variety of variables under only limited standardization. Able to interpret various instructions. Must have strong negotiating, analytical and problem-solving skills.
• MATHEMATICS ABILITY: Ability to perform basic math skills, use decimals to compute ratios and percents, and to draw and interpret graphs.
• LANGUAGE ABILITY: Ability to use passive vocabulary of 5,000-6,000 words; read at a slow rate; and define unfamiliar words in dictionaries for meaning, spelling, and pronunciation. Ability to write complex sentences, using proper punctuation, and using adjectives and adverbs. Ability to communicate in complex sentences, using normal word order with present and past tenses and good vocabulary.

INTENT AND FUNCTION OF JOB DESCRIPTIONS

This job description is intended as a summary of the major duties and responsibilities as well as qualifications for this position. The job description is not intended as inclusive of all duties an individual in this position might be asked to perform or of all qualifications that may be required either now or in the future.
In accordance with the Americans with Disabilities Act, it is possible that requirements may be modified to reasonably accommodate disabled individuals. However, no accommodations will be made which may pose serious health or safety risks to the employee or others or which impose undue hardships on the Credit Union.
Job descriptions are not intended as and do not create employment contracts. The Credit Union maintains its status as an at-will employer. Employees can be terminated for any reason not prohibited by law.
Benefits
401k, Dental Insurance, Life Insurance, Medical Insurance, Vision
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Please refer the Job description for details