November 6, 2024

Ocean State Credit Union

Coventry

FULL TIME

Manager of Collections

Ocean State Credit Union is seeking a Manager of Collections responsible for the control of delinquent loan accounts ensuring the delinquency level of Ocean State Credit Union remains below levels set by management. Adheres to credit union policies, procedures and regulations. Corresponds with members who have delinquent accounts and maintains records on them. Ensure strict compliance with state and federal credit and collection rules and regulations in all collection practices.
Duties and Responsibilities:

Administers the Credit Union’s collection function. Assists with preparation of the collection department strategic plan. Reviews and evaluates collection procedures and policies to assure regulatory compliance.
Provides resolution tactics pertaining to marine vessels, mobile homes, vehicle repossession and liquidation, bankruptcy, foreclosure, REO liquidation and collections litigation support.
Collaborates and works with other areas within the credit union as related to collection efforts.
Oversees and coordinates the preparation of various reports and analyses for senior management and the Board.
Prepares delinquent loan reports and statistics.
Initiates foreclosure process; contacts attorneys as appropriate
Monitors DMI reports, DBR and NCUA reports.
Contacts members with delinquent accounts to discuss payment options. Creates & mails collection letters. Documents all action taken.
Makes repossession recommendations and initiates repossessions as required
Maintains charge off systems.
Handles bankruptcies and works with attorneys as appropriate.

Performs related and unrelated duties as may be required.
Qualifications:

Bachelor’s degree or its equivalent in a business related discipline or work experience.
4-7 years of related, progressively responsible collection experience.
Strong working knowledge of workout solutions and associated documentation.
Solid working knowledge of all stages of collections, insurance and bankruptcy litigation.
Strong understanding of State and Federal regulations governing collection practices.
Good working knowledge of equipment/collateral values and liquidation process.
Strong conflict resolution, motivational, analytical/problem solving and negotiation skills.
Proven ability to manage customer and internal relationships and make decisions that balance the customer needs with company needs.
Excellent written and verbal communication skills.

At Ocean State Credit Union we value and respect differences in our workforce and strive to increase the diversity of our teams. We actively encourage everyone to apply.
EEO/MF/Veterans/Disabled
Job Type: Full-time
Benefits: