Collections Manager
$101,726–$101,726 year
HybridLittleton, Massachusetts, United States
Job Summary
Direct collection efforts for consumer, residential, and commercial loan delinquencies while developing strategies for early, mid, and late-stage cases. Monitor delinquency trends to implement proactive loss mitigation initiatives and oversee repossessions, bankruptcies, skip tracing, and charge-off activities. Ensure consistent application of hardship programs, payment arrangements, and settlement guidelines while coordinating with legal counsel, foreclosure attorneys, and servicing vendors. Evaluate borrower financial information and collateral positions for commercial loan workouts, recommending restructures, renewals, modifications, or legal actions as needed. Lead and coach a high-performing collections team by setting staff goals, monitoring progress, and directing workflow to ensure standards are met. Conduct performance evaluations, employee development planning, and monthly 1:1s while managing employee schedules and time off requests. Prepare weekly, monthly, and quarterly reports for senior management and support internal, regulatory, and external audits. This role involves administering the collections software system, verifying reliability, and creating updated policies and procedures to ensure adherence to Credit Union policies and internal controls.
Required Qualifications
- 5 - 8 years of progressive collections experience within a financial institution
- Minimum 3–5 years of management or supervisory experience
- Experience managing consumer, mortgage, and commercial collections
- Experience with bankruptcies, foreclosures, repossessions, commercial workouts, and loan modifications
- Must be authorized to work in the US
- Is able to bend, sit, and stand in order to perform primarily sedentary work with limited physical exertion and occasional lifting of up to 10 lbs
- Must be capable of climbing / descending stairs in an emergency situation
- Must be able to operate routine office equipment including computer terminals and keyboards, telephones, copiers, facsimiles, and calculators
- Must be able to routinely perform work on computer for an average of 6-8 hours per day, when necessary
- Must be able to work extended hours or travel off site whenever required or requested by management
- Must be capable of regular, reliable and timely attendance
- Must be able to routinely perform work indoors in climate-controlled shared work area with minimal noise
- Must be able to perform job functions independently or with limited supervision and work effectively either on own or as part of a team
- Must be able to read and carry out various written instructions and follow oral instructions
- Must be able to complete basic mathematical calculations, spell accurately, and understand computer basics
- Must be able to speak clearly and deliver information in a logical and understandable sequence
- Must be capable of dealing calmly and professionally with numerous different personalities from diverse cultures at various levels within and outside of the organization and demonstrate highest levels of customer service and discretion when dealing with the public
- Must be able to perform responsibilities with composure under the stress of deadlines / requirements for extreme accuracy and quality and/or fast pace
- Must be able to effectively handle multiple, simultaneous, and changing priorities
- Must be capable of exercising highest level of discretion on both internal and external confidential matters
Desired Qualifications
- Experience with SBA workout and liquidation SOPs preferred
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