AVP - Recovery Services

Assistant Vice President Recovery Services

Department: Recovery Services

Reports To: Vice President of Lending

FLSA: Exempt

Date last updated: 04/01/2024

Summary Oversees all staff and activities of the Recovery Services department. Assures that collection policies meet the needs of the credit union's purpose and members.

Essential Duties and Responsibilities include the following. Other duties may be assigned.

Ensures that the credit union's collection related policies and procedures comply with applicable regulations and credit union policy and procedures.

Ensure loan and account documentation, as it relates to collections, is prepared properly and retained.

Ensures the collection policies, procedures and practices are being followed and accurately documented. Regularly communicates and monitors requirements to collections staff.

Prepares monthly reports of delinquency, charge off and collections on charge offs.

Maintains accurate bankruptcy records and other data required for NCUA 5300 Call Report.

Analyzes collections activity and ensures controlled delinquency and charge offs via properly establishing and monitoring policies and procedures.

Completes quarterly delinquency and charge off audits. Provides management with information regarding patterns or trends.

Reviews and recommends monthly allowance for loan loss adjustments and recommends accounts considered uncollectible for charge off.

Approves and recommends approval of all advanced collection activities relating to foreclosures or settlement acceptances.

Reviews for accuracy all collections related billings and submits to appropriate staff for payment i.e. collateral repair charges, attorney fees.

Responsible for all legal action necessary to assist in delinquency, charge offs, foreclosure and other issues.

Serves as contact and liaison with attorneys, collection agencies, repo companies, credit counseling services and collateral protection insurers. Files all necessary claims and required documentation.

Handles all related follow up in bankruptcy filings i.e. e-files, claims, attend hearings, and coordinate with trustees.

Ensures timely and courteous interactions with members on collections related issues at all times assuring positive resolution.

Handles complex collections situations and resolves difficult member issues.

Works with Management and other departments on Credit Union goals and projects.

Prepares, implements, and supervises the department's budget.

Establishes and maintains effective employee relations.

Evaluates and coaches subordinates to ensure quality performance, job satisfaction and member satisfaction.

Supervisory Responsibilities

Directly supervises two employees in the Recovery Services department. Carries out supervisory responsibilities in accordance with the organization's policies and applicable laws. Responsibilities include interviewing, hiring, and training employees; planning, assigning, and directing work; appraising performance; rewarding and disciplining employees; addressing complaints and resolving problems.

Competencies
To perform the job successfully, an individual should demonstrate the following competencies:

Business Acumen - Understands business implications of decisions, conducts cost-benefit analysis, displays orientation to profitability, demonstrates knowledge of market and competition, Aligns work with strategic goals. Monitors activities of regulatory agencies.

Impact & Influence - Pursues and wins support for ideas; Displays ability to influence key decision-makers; Achieves win-win outcomes; Uses authority appropriately to accomplish goals; Addresses divergent opinions.

Judgement - Displays willingness to make decisions, exhibits sound and accurate judgment, Supports, and explains reasoning for decisions, includes appropriate people in decision making process, Makes timely decisions.

Performance Coaching (INSPIRE Coaching) - Defines responsibilities and expectations, sets goals and objectives with input from subordinates, provides regular performance feedback, motivates for increased member service and results, recognizes contributions, encourages growth, and provides training and development.

Problem Solving - Identifies problems in a timely manner, Gathers and analyzes information skillfully, develops alternative solutions, resolves problems in early stages, Works well in group problem solving situations.