Collections Manager at Vibrant Credit Union

Moline, Illinois, United States -

Full Time

Start Date

Immediate

Expiry Date

22 Jul, 26

Salary

72550.0

Posted On

23 Apr, 26

Experience

5 year(s) or above

Remote Job

Yes

Telecommute

Yes

Sponsor Visa

Skills

Collections Management, Asset Recovery, Risk Management, Team Leadership, Financial Analysis, Regulatory Compliance, FDCPA, SCRA, MLA, OFAC, Loan Delinquency Management, Vendor Coordination, Data Reporting, Microsoft Excel, Skip Tracing, Collateral Valuation

Industry

Financial Services

Description

Description Position Overview: The Collections Manager oversees the day-to-day operations of the credit union's collections and asset recovery functions. This role is responsible for managing the collections team, handling delinquent accounts across all stages, and working to reduce loan losses while ensuring members are treated fairly and respectfully. The Collections Manager ensures that processes run smoothly, staff are supported, and the credit union stays compliant with applicable regulations. What You Will Do: Collections Operations & Portfolio Management Manage collections activity across all delinquency stages, including early-stage, default, and charge-off Monitor loan and share accounts for delinquency and take appropriate action to resolve past-due balances Handle consumer loan and mortgage default processes, including drafting notices and coordinating recovery actions Work collection queues alongside staff and assist with complex or escalated accounts Risk Monitoring & Loss Mitigation Review high-risk accounts and flag potential losses for leadership and reserve consideration Process charge-offs in accordance with policy and submit recommendations as needed Evaluate and pursue appropriate resolution options such as repayment plans, settlements, repossessions, or referrals to legal counsel Team Leadership & Development Supervise, train, and support the collections team in their daily work Set clear expectations, provide regular feedback, and hold staff accountable to performance standards Create a positive team environment that encourages growth and consistent follow-through Vendor & Legal Coordination Coordinate with third-party collection agencies, attorneys, and recovery vendors Track vendor activity, review results, and ensure all partners are operating within compliance guidelines Gather and organize documentation needed to support legal proceedings or external recovery efforts Compliance & Regulatory Adherence Ensure all collections activity follows applicable federal and state regulations, including FDCPA, SCRA, MLA, BSA, and OFAC Maintain consistent processes and controls to reduce compliance and reputational risk Keep up with regulatory updates and communicate relevant changes to the team Cross-Functional Collaboration Serve as the go-to resource for collections questions across departments Work closely with Lending, Accounting, Finance, and Operations on reporting, reconciliation, and account resolution Assist staff in handling difficult member conversations and escalations Reporting & Analytics Pull and review delinquency, charge-off, and recovery reports on a regular basis Contribute data for NCUA Call Reports and other internal reporting needs Share findings and trends with leadership to support decision-making Requirements Our Ideal Candidate: Education & Experience Bachelor's degree in Business, Finance, Accounting, or a related field, or equivalent work experience At least 5 years of experience in financial services, with direct responsibility for collections or risk management and some supervisory or team lead experience Knowledge & Skill Solid understanding of collections practices, lending products, and basic financial analysis Working knowledge of relevant laws and regulations, including FDCPA, SCRA, MLA, and OFAC Comfortable leading a team, providing coaching, and having direct performance conversations Clear communicator with the ability to negotiate effectively with members and external partners Core Competencies Thinks through problems and makes sound decisions, including under pressure Keeps members at the center of the work while still driving results Stays organized and manages competing priorities without dropping the ball Adapts well in a fast-moving environment and helps the team do the same Technical Skills Hands-on experience with core banking systems and familiarity with loan origination platforms Proficient in Microsoft Excel; comfortable pulling and working with data from reporting tools or data warehouses Familiar with skip tracing methods, collateral valuation, and recovery processes Experience preparing legal documentation and coordinating with courts or outside counsel as needed Reports to VP Asset Management Environmental and Physical Activity Requirements: This job operates in a professional office environment. This role routinely uses standard office equipment such as computers, phones, photocopiers, filing cabinets, and fax machines. The daily responsibilities of this position constantly require effective talking, hearing, walking, finger dexterity, reaching, stooping, and grasping functions. The position also often requires reaching and lifting (up to 25 pounds). Frequent sitting, standing, and repetitive motion activities are also required. Must be able to read print and computer-based materials and to do so with consistent accuracy. Most of these functions require light physical exertion and are conducted indoors at controlled degrees of temperature. Other Duties: This job description is not designed to cover or contain a comprehensive listing of activities, duties, or responsibilities that are required of the employee for this job. Duties, responsibilities, and activities may change at any time, with or without notice.

Responsibilities

The Collections Manager oversees daily operations of collections and asset recovery, managing the team to reduce loan losses while ensuring regulatory compliance. This role involves monitoring delinquency, handling complex account escalations, and coordinating with vendors and legal counsel.