Top Credit and Collections Executive jobs in Lancaster, CA

Are you a strategic thinker with exceptional leadership skills and a deep understanding of collections processes? SCE Credit Union is seeking a dynamic individual to join our team as the Director of Collections. In this role, you will play a pivotal part in overseeing our collection activities for consumer and business accounts and loans, ensuring timely recovery of delinquent loans while preserving member relationships and compliance with relevant regulations.

Schedule: Monday through Friday, some Saturday hours required each month.

Bilingual skills (English/Spanish) preferred.

KEY DUTIES AND RESPONSIBILITIES

Strategic Role

• Develop and implement collection strategies to minimize delinquency rates and maximize recovery of delinquent loans.

• Lead and manage the collections team, providing guidance, support, and performance feedback to ensure departmental goals are met.

• Analyze delinquency trends and identify areas for process improvement to enhance collection efficiency and effectiveness.

• Design and implement loss prevention programs to improve and retain relationships with members.

• Collaborate with other departments, such as lending, risk management and legal to develop strategies for mitigating credit risk and minimizing losses.

• Oversees and completes all projects as assigned. Keeps management apprised of all critical issues.

Loss Control

• Proactively analyze monthly losses, identifying and projecting subsequent month’s losses and delinquency ratios and numbers. Implement strategies to address loss trends and isolation of impacting factors and/or risk factors which have been identified.

• Oversee and approve actions for bankruptcy accounts. May attend court hearings for various legal/bankrupt files.

• Conduct a thorough review of bankruptcy files for non-dischargability actions, enforceable reaffirmations, and filing of creditor claims.

• Manage the repossession and collateral liquidation process.

• Manage and oversee the process for proper handling of legal accounts. Approves accounts for small claims and/or civil action. May represent the company in small claims, municipal and bankruptcy courts.

• Work with CLO to develop the annual Collections budget and business plan. Manages expenses and ensures expenditures are within budget.

Charge Offs

• Review and submit accounts for charge off according to established policies and procedures. Monitor and evaluate the performance of external collection agencies or vendors to ensure adherence to service level agreements and regulatory requirements.

• Develop and implement strategies to maximize recovery on charged-off accounts/loans.

Compliance

• Audit accounts for proper follow-up, evaluation, and timely submission for repossession, litigation, or charge-off action as required according to collection policies and procedures. Ensure collection activities comply with policies, procedures, and governing state and federal debt collection laws and regulations including the Fair Credit Reporting Act (FCRA).

• Stay informed about industry trends, best practices, and regulatory changes related to collections and debt recovery.

Third Party Relationships

• Serve as the administrator for the collections data processing system. Builds and designs workflows, reports, letters, collection queues, user access and security levels. Ensure proper testing on system upgrades and enhancements. Work closely with database vendor to identify issues and improve efficiency.

SUPERVISORY RESPONSIBILITIES

Responsible for the overall direction, coordination, and evaluation of unit. 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 issues.

To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed below are representative of the knowledge, skill, and/or ability required. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

Education and/or Experience

• Bachelor's degree in finance, business administration, or a related field

• Five to eight years’ experience in collections management within a financial institution, with a demonstrated track record of success in leading and managing collections teams.

• Comprehensive understanding of collections processes, regulations, and best practices in the financial services industry, including familiarity with consumer and commercial lending products.

Computer Skills

• Proficiency in using collection software, database management tools, and Microsoft Office applications (Outlook, Word, Excel, and Teams).

Interpersonal Skills

• A significant level of trust and diplomacy is required to be an effective subject matter expert in the position. In-depth dialogues, conversations and explanations with members, direct and indirect reports and outside vendors of a sensitive and/or highly confidential nature is a normal part of the day-to-day experience.

• Demonstrated leadership and managerial skills, with the ability to motivate and develop a high-performing team.

Other Skills

• Excellent analytical, problem-solving, and decision-making skills, with a focus on continuous improvement.

• Commitment to ethical conduct, confidentiality, and maintaining the trust and confidence of members and team members.

• Ability to work under pressure, meet deadlines, and adapt to changing priorities in a fast-paced environment.

• High level of integrity, honesty, and accountability in all aspects of work.

• Must be able to perform job functions independently and work effectively either on own or as part of a team and plan and direct the work activities of self and others.

PHYSICAL DEMANDS

The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

• Regularly required to use hands and fingers to handle documents or business equipment; talk and hear.

• Perform primarily sedentary work with limited physical exertion and occasional lifting of up to 10 lbs.

• Must be able to operate routine office equipment including telephone, copier, facsimile, and similar equipment.

• Must be able to routinely perform work on computer for an average of 6 to 8 hours per day.

• Must be able to work extended hours whenever required or requested by management.

WORK ENVIRONMENT

The work environment characteristics described here are representative of those an employee encounters while performing the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

• The noise level in the work environment is usually moderate.