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Divisional Collections Manager

2 months ago


Lake Forest, Illinois, United States Truist Full time
Job Summary

We are seeking a highly skilled Divisional Collections Manager to join our team at Truist. The successful candidate will be responsible for overseeing the management of Premium Finance divisional collection activities, ensuring timely and efficient collection of delinquent and deficiency balance accounts.

Key Responsibilities
  • Direct and supervise the divisional collection activities to maximize collection of delinquent and deficiency balance accounts and loan recoveries to minimize loan losses.
  • Ensure teammates are properly trained and conducting job functions in accordance with established company policies and procedures.
  • Participate in the review and update of line of business operating procedures to ensure accuracy and completeness as well as meet corporate goals for completion of these reviews.
  • Establish measurable goals and objectives related to collection activities and communicate those to staff.
  • Ensure performance reviews, coaching, and counseling are handled timely and in accordance with established corporate policies and procedures.
  • Advise Senior Management of developing trends and collection problems that may affect the accounts receivable portfolio of the company.
  • Assist staff to resolve complex or out-of-policy operational problems.
  • Review delinquent loans and make determinations on deferring or proceeding with cancellation deferral requests.
  • Supervise the processing of cancellation and reinstatement requests for delinquent loans.
  • Assist in the initial review and management of potential fraudulent loan activities, including the identification of early fraud warning signs, completion of agent portfolio audits, and timely communication to senior management where potential frauds are suspected.
  • Maintain records for, and approve/oversee charge-offs within established authority levels.
  • Provide oversight on third-party collection activities.
  • Coordinate with Human Systems for appropriate staffing levels as well as processing of Human Resources-related paperwork.
  • Represent the line of business in depositions, bankruptcy court hearings, arbitrations, or other legal proceedings.
  • Coordinate with other managers to formulate process improvements.
Requirements
  • Bachelor's degree, preferably in business or accounting, or equivalent education and related training.
  • At least 10 years of experience in the financial services industry, including 5 years of experience in collection activities.
  • Excellent analytical, verbal, written, interpersonal, and problem-solving skills.
  • Excellent time management and organizational skills.
  • Ability to interact in a positive manner with all levels within the organization, including Executive Management.
  • Experience in managing personnel, financial, and physical resources.
  • Demonstrated proficiency in basic computer applications, such as Microsoft Office software products.
  • Ability to travel, occasionally overnight.
Preferred Qualifications
  • Bachelor's degree in accounting or business.
  • Experience in the premium financing or insurance industry.
Benefits

Truist offers a comprehensive benefits package to eligible employees, including medical, dental, vision, life insurance, disability, accidental death and dismemberment, tax-preferred savings accounts, and a 401(k) plan. Teammates also receive a minimum of 10 days of vacation and 10 sick days during their first year of employment, along with paid holidays. Depending on the position and division, this job may also be eligible for Truist's defined benefit pension plan, restricted stock units, and/or a deferred compensation plan.

Equal Employment Opportunity

Truist is an Equal Opportunity Employer that does not discriminate against individuals on the basis of race, gender, color, religion, citizenship or national origin, age, sexual orientation, gender identity, disability, veteran status, or other classification protected by law. Truist is a Drug-Free Workplace.