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Job Summary:
The Collections Manager will oversee the collection efforts and delinquency controls of the company, ensuring money owed is billed and received correctly and promptly.
Supervisory Responsibilities:
- Hires and trains new collectors in the Lending Department.
- Conducts performance evaluations that are timely and constructive.
- Supervises and manages the Lending Departments assignments and priorities.
Duties/Responsibilities:
- Researches, develops, and facilitates collection procedures according to company polices.
- Ensures proper preparation and delivery of letters, notices, and other communications regarding delinquent accounts.
- Conducts, or assists third parties in conducting, skip-tracing according to established practices.
- Negotiates with customers to amend repayment terms, as appropriate.
- Recommends legal action for specific accounts and follows through as necessary.
- Communicates the status of delinquent accounts to the Senior Collection Manager or other appropriate personnel.
- Initiates repossession steps when authorized; maintains thorough records of actions taken in repossession and selling.
- Contacts creditors and consults attorneys as needed for settlements on bankrupt accounts.
- Reviews accounts and recommends for charge-off as appropriate; supervises approved accounts charge-off procedure and reports it to credit reporting agencies.
- As necessary, reports claims to appropriate government agencies to ensure collection on insured loans.
- Ensures the security and privacy of customer information and files.
- Performs other related duties as assigned.
Required Skills/Abilities:
- Excellent verbal and written communication skills.
- Proficient in Microsoft Office Suite or related software, and customer relations software.
- Excellent leadership and persuasive skills.
- Ability to work with a team and independently.
- Basic understanding of statistics and data analysis.
- Basic understanding of applicable state and federal collection laws including the Fair Debt Collection Practices Act and the Fair Credit Reporting Act.
Education and Experience:
- Associates degree in Finance required; Bachelors degree preferred.
- At least five years of experience in collection and credit work, with at least one in a supervisory or managerial position.
Physical Requirements:
- Prolonged periods sitting at a desk and working on a computer.
- Must be able to lift up to 15 pounds at times.
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