Director, Collections

First Entertainment Credit Union is looking for a strategic, results-driven Director, Collections who will oversee the overall operation of our Collections department. This Director, Collections works closely with many stakeholders throughout the organization to develop, implement, and maintain effectiveness and efficiencies in the administration of our collections and recovery functions.

Continuously evaluating best practices and leveraging existing technology or adoption of new technology, the Director, Collections works diligently to maximize business results and improve cash flow while maintaining a positive member experience and relationship.

This is a full-time, hybrid opportunity reporting to the VP, Lending Operations and is based in Hollywood, CA. The targeted pay in California is between $130,000 to $160,000.

Responsibilities

·              Oversee the entire Collections team and process, including delinquency, charge-offs, repossessions, liquidations, foreclosures, bankruptcies, recoveries and provisioning for loan loss. Provide strong leadership to staff to drive desired business results.

·              Review business goals, analyze trends and implement KPIs to optimize effectiveness in the Collections workflows to meet objectives.

·              Stay abreast on market and regulatory matters and best practices. Effectively communicate market trends, observations, and learnings to stakeholders and make appropriate business recommendations.

·              Partner with other business units to assess sound lending principals and credit risk reviews.

·              Collaborate with internal departments to streamline processes, resolve pain points, and ensure smooth and timely member resolutions.

·              Review, revise and ensure the Collections processes are administered and documented with accuracy, reliability and integrity.

·              Represent the Collections team as the Subject Matter Expert to examiners, auditors, and others to maintain compliance with appropriate parties and agencies.

·              Prepare, analyze and present accurate management reports to credit union senior leadership.

·              Review, analyze, recommend approvals and provide creative solutions for credit union members with troubled debt restructuring needs.  

·              Foster productive relationships with vendor partners including 3rd party collections agencies, attorneys and credit bureaus.

·              Develop and enhance internal reporting tools for better financial insights. Utilize said data to identify trends, patterns, and opportunities for process improvements.

·              Act as the escalation point for sensitive member issues and/or diffuse challenging situations with grace and compassion.

·              Perform other responsibilities as assigned.

At First Entertainment, your role and every role are essential to our Mission [We build lifelong financial relationships with the people in entertainment based on a deep understanding of how they live and work], Core Values [ Members First + Ownership + Integrity + Innovation + Inclusivity + One Team], and we expect you to uphold them.

Requirements

·              A bachelor's degree from an accredited college or equivalent of experience is required.

·              Minimum of 7 years’ experience in Collections in a full-service financial institution or comparable experience in a related position. At least 3 years in a managerial or leadership role.

·              Comprehensive knowledge of collections and bankruptcy laws, regulations, industry trends and best practices.

·              Demonstrated ability to negotiate and re-structure troubled debt.

·              Strong understanding of risk assessment and mitigation principles.

·              Strong leadership, coaching and effective team-building skills.

·              Excellent communication and interpersonal skills across all audience levels.

·              Proficiency in Jack Henry Symitar software, and Microsoft Office suite, namely excel.