Director of Collections and Recovery

2 days ago


Allen Texas, United States Financial Staffing Resources, Ltd. Full time
Lead Collections and Loss Mitigation Expert

Financial Staffing Resources, Ltd. seeks a seasoned professional to lead our collections and loss mitigation efforts. As a key member of our team, you will be responsible for developing and implementing strategies to minimize losses and protect our credit union's interests.

Key Responsibilities:
  • Stay informed on industry trends to proactively reduce delinquencies, repossessions, foreclosures, and charge-offs.
  • Assess staffing needs and develop a best-in-class team of skilled negotiators within the Collections, Bankruptcy, and Recovery departments.
  • Recruit, hire, train, and develop employees while ensuring professional growth, cross-training, and employee retention.
  • Conduct employee performance reviews, manage disciplinary actions, and determine merit increases based on performance.
  • Use data and metrics to inform decision-making, refine strategies, and identify improvement opportunities within collections.
  • Oversee budgeting, forecasting, and financial analysis related to collections, while developing strategies to minimize bad debt and optimize recovery rates.
  • Manage loss mitigation efforts, including repossessions and legal referrals, and ensure all activities comply with corporate policies.
  • Supervise legal support functions, such as filing lawsuits and responding to garnishments.
  • Develop processes for monitoring employee performance, documentation, and call quality, ensuring goals and objectives are met.
  • Regularly review delinquency reports to ensure the efficiency of collection strategies, making adjustments as needed based on changing conditions.
  • Ensure compliance with the Texas Collection Act and other applicable debt collection laws in all member interactions.
  • Handle escalated member issues and resolve complaints when necessary.
  • Collaborate with the Chief Operations and Chief Lending Officers to set and meet monthly departmental goals.
  • Optimize current technology and explore new solutions to improve efficiency and collection efforts.
  • Coordinate with finance, sales, and branch leadership to address trends and challenges.
  • Develop creative, compliant strategies to reduce delinquency and charge-offs.

Supervises: Collection Manager, Loss Mitigation Specialists



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