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Collections Manager
People's United Bank
Moberly, MO, United States
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Job Description
POSITION SUMMARY:
The Collections Manager is responsible for managing all aspects of 5+ person department handling small ticket business equipment leases nationwide including overseeing collections, repossessions, remarketing of assets, litigation and bankruptcies. Develops and implements strategies for improving collection effectiveness to reduce delinquencies and charge-offs, and to optimally maximize funds recovered while minimizing recovery timeframes. Utilizes extensive expertise in collections, knowledge of sound business practices, and proven skills of managing a multi-functional staff to achieve departmental success.
RESPONSIBILITIES:
1. Direct the collection of past due payments of active accounts to bring the delinquency ratio within target ranges.
2. Assist collectors with assessing collections options, tools and implementation of tactics.
3. Assist in asset repossession and remarketing functions to minimize time frames for acquiring and reselling assets, while maximizing funds received.
4. Assist in bankruptcy and litigation functions to minimize timeframes for the collection of funds and to maximize the amount received.
5. Interface with outside servicing vendor to monitor early stage delinquencies (<60 days), assist with individual accounts, and to provide guidance and decisions on a timely basis.
6. Recommend accounts for charge-off according to policy.
7. Approve or recommend for approval asset sales, and litigation/collection settlements.
8. Establishes and implements policies, supervises staff and ensures proper accounting for collection accounts.
9. Utilizes tracking and reporting systems to effectively manage daily activities of all functions and to provide summary reports for senior management.
10. Perform other duties as assigned by management
Job Requirements
REQUIREMENTS:
• Minimum 10 years total experience in credit, collections, and management with a bank, financial services company or financial services division of non-bank.
• 5 years in a supervisory capacity
• Strong quantitative financial analytical skills