Credit Resolution Manager - Community Resource Credit Union

Department: Credit Resolution

Grade: 12

Reports To: SVP Chief Lending Officer

Classification: Exempt

Role:

To preserve the credit union's assets by controlling delinquent accounts, collecting delinquent loan payments and/or recovering collateral; hiring, scheduling, training, and monitoring the work of other Collectors; disposing of repossessed collateral. Adheres to all policies, procedures, and standard practices. Adheres to Federal and State Laws and Regulations.

Essential Functions & Responsibilities:

E 40% Keeps up with changes in state and federal laws governing debt collections and bankruptcy. Determine appropriate changes and requirements, and implement them. Make sure employees receive proper training on any changes in laws. Seek legal advice from attorney when appropriate.

• Maintains up to date changes made in Credit Reporting. Ensures that the credit union is within compliance of the Fair Credit Reporting Act, and disputes are handled in a timely manner.
• Identifies areas of the collection process that need improvement and implements policies and procedures that retain a smooth running of the department. Provides appropriate solutions for training, development and other learning activities. Create and implement strategies to increase the number of successful collections on outstanding debt. Track the rate of success and adjust when necessary.
• Performs audits of accounts that are in the system, monitors calls to ensure staff operate within the Federal Debt Collection Practices Act (FDCPA) and Texas Debt Collection Law
• Ensures that all written correspondence complies with laws, company policies in terms of verbiage and frequency of contact
• Maintains communication, correspondence, and processes legal documents in a timely manner with Attorneys assisting Legal & Bankruptcy accounts. Builds and maintains a strong working relationship with attorneys and other companies.
• Runs reports and analyzes data pertaining to the department. Develops reports and shares with executive staff and board of directors as needed.
• Negotiates payment arrangements and authorizes financial settlements with people who owe large debts.
• Informs management of trends in loan underwriting contributing to delinquent/charged-off loans.

E 30% Hires, reviews, schedules, trains, and monitors the work of other Collectors; conducts performance reviews; allocates resources to meet operational needs within the department; reviews and approves, denies, or modifies collection recommendations from subordinates.

• Develops goals that complement the business goals of the credit union and coordinates staff to continually meet and exceed goals.
• Contacts delinquent accounts by phone and mail; takes appropriate action to bring current, including employee accounts.

E 15% Arranges the sale of repossessed collateral; determines additional investment to be made in collateral.

• Analyzes financial situation of delinquent borrowers; takes action to repossess collateral when arrangements to bring the loan current are unsuccessful.

E 5% Testifies at legal proceedings as required.

E 5% Assists Risk Department with specific accounts, including fraud accounts.

N 5% Other related duties as assigned.

Performance Measurements:

1. Maintains the credit union's charged-off and delinquent accounts at or below acceptable levels

2. Maintains confidential nature of all work and information

3. Possesses a positive, member service oriented attitude and the ability to anticipate member needs and initiate assistance while protecting the credit unions assets

4. Maximizes the collection and/or recovery of credit union assets from delinquent and charged-off accounts

5. Able to define problems and propose solutions

6. Possesses strong attention to detail

7. Develops a staff of well-trained and effective credit counselors

8. Ensures that all collection activity is legal and follows credit union policy

9. Keeps management informed of operational issues affecting the credit union's collection activities

10. Employee shall demonstrate an understanding of, and follow the requirements of all regulation compliance, including but not limited to those of Bank Secrecy Act (BSA), Anti-Money Laundering (AML), Office of Foreign Assets Control (OFAC), Customer Identification Program (CIP) and Member Due Diligence (MDD) as it specifically relates to their job functions. Employee shall be trained annually in BSA/AML compliance

Knowledge and Skills:

Experience:

Three years to five years of similar or related experience.

Education:

(1) A two year college degree or (2) Completion of a specialized course of study at a business or trade school or (3) Completion of a specialized and extensive in-house training or apprenticeship program or (4) individuals with years of like experience

Interpersonal Skills:

Courtesy, tact, and diplomacy are essential elements of the job. Work involves much personal contact with others inside and/or outside the organization for purposes of giving or obtaining information, building relationships, or soliciting cooperation.

Other Skills:

Physical Requirements

While performing the duties of this job, the employee is regularly required to use hands or fingers, handle or feel; reach with hands and arms; talk and hear. The employee frequently is required to stand, walk, and sit. Specific vision abilities required of this job include close vision and ability to adjust focus.

Work Environment

Work is performed indoors with some potential for exposure to safety and health hazards related to electronics work. May require periodic travel. There is exposure to potential hazardous conditions such as robbery. Employees are to receive detailed instructions and procedures to follow in order to minimize risk.

In accordance with the American 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 organization.'

This Job Description is not a complete statement of all duties and responsibilities comprising this position. Job descriptions are not intended and do not create employment contracts. The organization maintains its status as an at-will employer. Employees can be terminated for any reason not prohibited by law.

This Job Description is not a complete statement of all duties and responsibilities comprising the position.