Five Star Bank

Department: Retail Collections/Mortgage Collections. Purpose: The Residential Collection Manager is responsible for the day-to-day activities of the Residential Collection Team to include all things related the Guarantor requirements; Due Diligence and Reporting; Compliance with UDAAP, CFPB, State and Federal foreclosure mandates, Modification and Refinance requests; Litigation referrals; Foreclosure Bids and Sales, and Court mandated Settlement workout plans.. Serve as liaison between Bank and Attorney firms, Appraisers, Property Inspectors, REO Workout staff, FSB Lending teams, IT, Systems Analysts, and Loan Servicing.. Prior Experience: 5+ years of Management experience in Banking, Collections, Credit Union Collection, Mortgage Servicing, or Foreclosure Attorney firms. Prior Experience: 7+ years experience in a Management position in Banking, Collections, Credit Union Collection, Mortgage Servicing, or Foreclosure Attorney firms

collections manager

The expected rate of pay for this position is shown above. Compensation offers are based on a wide range of factors including relevant skills, training, experience, education and, where applicable, licenses or certifications obtained. Market and organizational factors are also considered. In addition to your base rate of pay and a competitive benefits package, successful candidates may be eligible to receive cash or equity-based incentives based on the role and performance.

Position Title: Residential Collections Manager
Reports To: Collections Operations Manager
Department: Retail Collections/Mortgage Collections
FLSA Status: Exempt
Purpose: The Residential Collection Manager is responsible for the day-to-day activities of the Residential Collection Team to include all things related the Guarantor requirements; Due Diligence and Reporting; Compliance with UDAAP, CFPB, State and Federal foreclosure mandates, Modification and Refinance requests; Litigation referrals; Foreclosure Bids and Sales, and Court mandated Settlement workout plans. The position determines and directs the team alignment, workflow and assignments; distribution of accounts; review of collection activity, and the most cost efficient and appropriate methods to ensure the preservation of guarantees, minimal delinquency of all portfolios and the prevention of loss.
Supervisory Responsibilities:
Degree of Supervision Received: Minimal
Supervision Received (title): Collections Operations Manager
Degree of Supervision Given: Extensive
Supervision Given to (Titles): Collection Adjuster 1 – Residential;
Collection Adjuster 2-Residential
Essential Functions:
Manages the Residential Collection Team. Assists the Collection Operations Manager in the development of strategic decisions that affect the team, responsibilities, goals and results. Analyzes, tracks and maintains records of team and individual productivity. Recommends team and individual productivity improvements.
Monitors goals, expectations and performance targets. Evaluates and provides feedback in a monthly basis as month end results are announced. Feedback is delivered in individual meetings as well as written assessments. Provides on-going coaching, mentoring, counseling and well formulated improvement and growth plans in cases of performance deficiencies. Prepares quarterly assessments in preparation for annual performance appraisals.
Ensures compliance with all applicable Federal, State, Guarantor, and local regulations, requirements and due diligence. Must possess superior knowledge of all governing mandates with regard to collection and recovery activities: FDCPA; Fair Lending; SCRA; UDAAP; Bank Policies and Procedures; UCC Requirements and Stage and Federal Bankruptcy laws. Must contribute to audit and compliance examination inquiries and responses.
Ensure compliance with Guarantor requirements for due diligence; foreclosures, modifications; reporting; forbearance, and deferments.
Contribute written updates for inclusion in the Collection Job Aid as requirements from Guarantors and all other regulatory agency requirements change and require immediate implementation. Provide team training in advance of any change.
Provide input for annual budget planning with regard to: anticipated expenses, cost reduction and savings along with staffing. Maintain records of expenses associated with Property Inspections, Property Appraisals and Property maintenance.
Analyze and prepare reporting for management, Guarantors, Non-Accrual Status and Pending foreclosures. Outline the performance of the litigation workstream as well as the performance of third-party vendors and attorney firms. Conduct annual assessments/evaluations to ensure compliance with expectations. Oversee the strategic effectiveness.
Serve as liaison between Bank and Attorney firms, Appraisers, Property Inspectors, REO Workout staff, FSB Lending teams, IT, Systems Analysts, and Loan Servicing. Recommend purchasing, leasing and/or system access to collection tools, system enhancements and other informational sites.
Authority to approve customer loan payment deferments, forbearance, extensions and workout plans. Analyze situations and criteria as set forth in policy. Recommend exceptions when warranted.
Demonstrate the standards and principles of the Five Star Bank experience in every interaction with internal and external customers, associates, and stakeholders. Incorporate the high-performance behaviors of teamwork, leading by example, and service in every facet of work.

Job Related Qualifications – Education and Prior Experience:
Required:
Education: Associate degree
Prior Experience: 5+ years of Management experience in Banking, Collections, Credit Union Collection, Mortgage Servicing, or Foreclosure Attorney firms
Licenses or Accreditation: NA
Preferred:
Education: Bachelor’s Degree
Prior Experience: 7+ years experience in a Management position in Banking, Collections, Credit Union Collection, Mortgage Servicing, or Foreclosure Attorney firms
Licenses or Accreditation: NA
Competencies:
Must be highly proficient in software programs, Microsoft Office, JH Enhancements, FSB Applications, and other database systems with the ability to learn new systems.
Ability to work in a fast-paced environment with multiple responsibilities, competing priorities and critical deadlines. Multi-tasking capabilities with strong organizational and time management skills. Must be able to meet and/or exceed deadlines. Must be willing and able to fully utilize collaborative approaches by building relationships with Branches, peers, internal and external contacts to meet the challenges of this position.
Must possess strong analytical skills and the ability to render sound decisions. Must foresee and plan for serious situations with the ability to proactively approach issues before escalation occurs. Exercise early intervention. Must be able to independently resolve complex situations.
Must possess strong organizational skills to ensure the accurate tracking of loan volume, team and individual goals and performance results, and historical delinquency trends. Must be able to regularly report progress and statistics.
Must possess prior supervisory and management experience to include Interviewing, selection, hiring, training, development, mentoring, succession planning, work schedules, counseling and disciplinary actions.
Must possess strong communication skills to produce effective procedures, work flows, and prevention of losses. Must be able to effectively work with team, peers, management and third-party vendors. Must possess highly defined negotiation skills to produce effective monetary results and reduce potential loss.

Physical Requirements:
Able to regularly sit for prolonged periods of time.
Able to travel occasionally.
Extensive computer usage is required.

This job description is not exhaustive. The Residential Collection Manager may be required to perform other duties as assigned.

START NEW SEARCH