AVP Collections

Come join our team where you can expand your career potential, benefit from our robust development opportunities, and enjoy meaningful work!

Under the direction of the Senior Vice President of Lending, this position will be responsible for planning, coordinating, and managing the activities of the Collections Department in conformance with established Credit Union policies and procedures.

This role has a hybrid work schedule. We are looking for candidates located near our Marlborough office as this role will require a commute to the office a minimum of three times per week.

Essential Functions:

1. Develops and ensures the effectiveness of the department's plans and organization. Oversees the daily operation of department functions, ensuring work is performed in a timely and accurate manner.
2. Recommends, initiates, and coordinates foreclosures and bankruptcies from inception to completion. Maintains contact with legal counsel to ensure process is being handled in a timely manner.
3. Oversees and participates in repossessions and any small claims activity.
4. Oversees and participates in the collection of real estate loans. Makes recommendations of action to be taken to Credit Committee, e.g., workout arrangement, foreclosures, etc.
5. Prepares various reports and analyzes and discusses findings of delinquency trends to Senior Vice President – SLO and Credit Committee. May attend Credit Committee meetings.
6. Keeps current of regulatory developments within the area of collections. Ensures that all departmental operations are following applicable laws and regulations and the Credit Union’s collection policy. Continually reviews and upgrades policies and procedures to ensure we are both current and compliant.
7. Is the primary contact with Fannie Mae on all collection related activity on sold loans to include forbearance agreements, potential modifications, and any and all foreclosure related activity.
8. Is the primary contact with all collection attorneys, both in-house and elsewhere, and will routinely set up meetings with borrowers and attorneys when appropriate.
9. Manages the institutions VSI pool and is the primary contact for any VSI related claims.
10. Performs related managerial duties as may be assigned or requested.

The above is a description of the ordinary duties of the position. It should be expected that from time-to-time other duties, both related and unrelated to the above, may be assigned and, therefore, required.

Supervisory Scope:

Up to five.

Preferred Qualifications:

To perform this job successfully, an individual must be able to perform each essential function satisfactorily. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

Bachelor’s degree or equivalent in experience. Five years of collection experience within a financial institution with at least one year of supervisory responsibility. Excellent negotiation skills and well developed organizational, decision making and communication skills.

Work Environment:

Usual office working conditions with absence of most disagreeable conditions and with occasional exposure to noise.

Physical Demands:

While performing the duties of this position, the individual is required to use hands, handle and feel objects, tools or controls; reach with hands and arms; talk and hear. The individual frequently is required to stand, walk and sit. The individual is occasionally required to stoop, kneel, crouch, or lift up to fifteen pounds. Specific vision abilities required include close vision, distance vision, color vision, peripheral vision, depth perception, and the ability to adjust focus.

The estimated salary range for this position is $85,000.00USD to $100,000.00USD. Actual salary may vary up or down depending on job-related factors which may include knowledge, skills, and experience. In addition, this position is eligible for incentive compensation.

All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability or protected veteran status.