VP of Asset Recovery
2 days ago
Responsibilities:
• Oversee the Asset Recovery Department, set goals, and manage staff
• Develop and implement effective asset recovery strategies to protect assets
• Maintain communication with other departments and senior management to limit losses
• Train, supervise, and delegate tasks to department personnel
• Monitor and audit all collection activities within the department
• Ensure adherence to company policies and procedures, as well as laws and regulations
• Write, implement, and maintain policies and procedures related to asset recovery
• Handle escalated calls and review serious delinquent loan accounts
• Recommend improvements in the asset recovery process
• Advise on legal actions, repossessions, foreclosures, and charge-offs
• Collaborate with legal counsel and insurance providers to mitigate losses
• Prepare accurate and timely reports as required by senior management
• Attend industry events and education opportunities to stay updated on developments in the field
• Monitor the Asset Recovery department for quality control and efficiency
• Perform additional duties as assigned
• Candidate must be proficient in 3M.
• Strong knowledge of Accounting Software Systems is required.
• Experience in B2B collections is essential.
• Ability to manage and oversee Accounting Functions.
• Expertise in handling Accounts Receivable (AR) is necessary.
• Familiarity with Billing Functions.
• Must be able to manage Cash Activity.
• Proficiency in Cash Applications is required.
• Experience in the Banking Industry is an advantage.
The position requires the following skills and abilities: excellent communication and interpersonal skills, problem-solving skills often for complex issues, self-motivation and flexibility, the capability to work under pressure and in a fast-paced environment, negotiation skills, analytical thinking, comprehensive understanding of all collection-related tasks, and superior organization, planning, and follow-up skills.
The individual should have (at least) a high school diploma; a bachelor's degree in accounting or business is preferred. They should have a minimum of five years of experience in asset recovery and possess a strong knowledge of laws and regulations pertaining to this field. The person must also have minimum three years of managerial experience and proficiency in MS Office, particularly in generating a variety of reports. Experience with collections software is noted.
Physical requirements include, but are not limited to, continuous sitting or standing for 7 hours a day, occasional bending and walking for an hour every day, ability to lift and carry or push/pull up to 25 lbs, and routinely perform computer work for 6-8 hours daily.
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