Vice President Asset Recovery

Summary
The Vice President of Asset Recovery provides enterprise leadership for the credit union’s asset recovery strategy, portfolio risk management, loss mitigation, and bad debt recovery programs. Reporting to the CFO, the Vice President establishes the department’s strategic direction, operating standards, performance expectations, and risk controls; advises senior management on delinquency, charge-offs, recoveries, and emerging portfolio risks; and ensures the function protects credit union assets while complying with applicable laws, regulations, policies, and procedures.

Essential Functions

1. Establish and lead the enterprise asset recovery strategy, including multiyear priorities, annual goals, performance measures, staffing plans, and department initiatives aligned with the credit union’s financial objectives and risk appetite. Represent Asset Recovery in credit union leadership meetings and enterprise projects.

2. Direct the analysis of collection performance, delinquency trends, loss exposure, recovery results, and portfolio risk. Translate findings into forecasts, strategic recommendations, resource priorities, and adjustments to collection and loss-mitigation strategies.

3. Build effective partnerships with senior management and leaders across Lending, Finance, Risk, Compliance, Legal, Operations, and Member Service to coordinate loss-mitigation priorities, resolve systemic issues, and reduce credit union losses.

4. Build and lead a high-performing Asset Recovery team by establishing an effective organizational structure, clarifying decision rights and accountability, overseeing workforce planning and succession, setting performance expectations, and ensuring leaders provide appropriate coaching, development, and workflow management.

5. Establish decision frameworks, approval authorities, escalation protocols, and quality standards for complex collection matters. Provide executive direction on significant exceptions and ensure management decisions are consistent, well documented, and aligned with policy, risk tolerance, and member-service standards.

6. Maintain executive oversight of the Asset Recovery compliance and control environment. Ensure policies, procedures, practices, monitoring, training, and corrective actions remain aligned with Sierra Central Credit Union requirements and applicable federal and state laws and regulations.

7. Own the governance of Asset Recovery policies, procedures, standards, and delegated authorities, ensuring they are current, consistently applied, appropriately approved, and responsive to regulatory, portfolio, operational, and strategic changes.

8. Provide executive oversight and final escalation support for the most complex, sensitive, or high-risk delinquent accounts and member situations. Ensure significant matters receive appropriate legal, compliance, financial, and member-impact review.

9. Sponsor continuous improvement across Asset Recovery by evaluating operating models, technology, analytics, member-contact strategies, and vendor solutions. Prioritize and lead initiatives that improve recoveries, reduce losses and operating costs, strengthen controls, and enhance the member experience.

10. Establish approval criteria and provide executive recommendations for legal actions, repossessions, foreclosures, settlements, and charge-offs, balancing expected recovery, cost, compliance obligations, reputational considerations, and member impact.

11. Oversee relationships with legal counsel, insurance providers, collection agencies, repossession firms, and other third-party service providers. Establish performance, cost, compliance, service, and risk expectations; monitor results; and take corrective action to protect credit union assets.

12. Prepare monthly, or as needed, reports as required by senior management. Ensure all reports prepared by the department are accurate and timely.

13. Attend ongoing education opportunities and industry events to keep abreast of developments in the field. Coach and develop all Asset Recovery department staff.

14. Establish the Asset Recovery performance-management and quality-assurance framework, including key performance indicators, service standards, control measures, management reviews, and corrective-action expectations. Hold department leadership accountable for sustained quality, efficiency, compliance, and results.

15. Additional duties as assigned