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Collections Manager

Market USA FCU

Location: Laurel, MD

Schedule: Full-time

Position Overview

BASIC PURPOSE: Responsible for overseeing the overall functions of managing delinquency and minimizing losses at Market USA including hiring, scheduling, training, and monitoring the work of other Collectors including third party relationships; disposing of repossessed collateral. Manages and coordinates the collection activities of Market USA to ensure strategic and business goals are met or exceeded. Develops and implements collections policies and procedures, ensuring that they follow state and federal regulations.

  1. Hires, reviews, schedules, trains, and monitors the work of direct reports; conducts performance reviews; allocates resources to meet operational needs within the department; reviews and approves, denies, or modifies department recommendations from subordinates.
  2. Manages the relationship and responsibilities of the third-party collection resource. Ensures third-party is managing the activities, obtaining payments/solutions, in compliance with Market USA philosophy and regulation.
  3. Contacts delinquent accounts by phone, text, email, and mail; takes appropriate action to bring current.
  4. Has overall responsibility for vehicle repossessions. Coordinates process with third parties maximizing the value of collateral disposition. Assigns accounts to outside collection agencies and manages those relationships in line with Market USA policy and objectives. Ensures staff follows repossession policies and procedures.
  5. Analyzes financial situation of delinquent borrowers; takes action to repossess collateral when arrangements to bring the loan current are unsuccessful. Evaluates and approves payment deferment requests. Approves and restructure loans to members based upon analysis of member repayment capacity and willingness.
  6. Has overall responsibility for the handling of bankrupt accounts. Represents Market USA at legal proceedings. Negotiates with attorneys on bankruptcy and other legal issues.
  7. Implements policies, procedures, system efficiencies, and guidelines to achieve the credit union’s collections goals. Ensures that collections policies, procedures, and products meet federal, state, and NCUA regulations. Keeps abreast of technological advancements and industry changes in the collections arena and makes recommendations for process improvements and product changes.
  8. Recommends accounts for charge-off, when appropriate. Responsible for the determination and management of accounts sent to third parties (collection agencies/legal) after charge-off for recovery efforts. Informs management of trends in loan underwriting contributing to delinquent/charged-off loans.
  9. Manages the assignment of other collections-related duties including, but not limited to, repossessions, CPI program, posting of loan payments from dealers or other FIs, bankruptcy, total losses, GAP claims, loan modifications, foreclosures, impounded vehicles, and credit report disputes.

Education & Experience

Education (Minimum Needed): (1) A bachelor’s degree, or (2) achievement of formal certifications recognized in the industry as equivalent to a bachelor’s degree or (3) completion of a specialized certification or licensing

Experience (Minimum Needed): Five to ten years of similar or related experience.

Specialized Knowledge: Advanced knowledge of credit union products, services, policies and procedures, and rules and regulations; strong computer skills including MS Office; and the ability to handle multiple tasks. Ability to read and interpret documents such as spreadsheets, credit analysis, and relevant policy, procedural and regulatory manuals.


  1. Maintain the credit union’s charge-off and delinquent accounts at or below levels established in the budget.
  2. Maximize the collection and/or recovery of credit union assets from delinquent and charged-off accounts.
  3. Maintain a cohesive, highly trained, motivated staff sufficient to meet daily department demands.
  4. Ensure all collection activity is legal and follows credit union policy, keeping management informed of operational issues affecting the credit union’s collection activities.
  5. Provide professional, timely, and accurate service and support to all members and associates.
  6. Develop recommendations for cost efficiencies and enhancements to policies, procedures, and processes by monitoring trends in collections.
  7. Note observations of employee performance. Perform yearly performance appraisals for direct reports.
  8. Prepare and deliver assigned reports in a timely, accurate manner.
  9. Troubleshoot and resolve member and internal inquiries in a timely, accurate manner.
  10. Provide informed, professional, accurate service and support to all members and associates.

How to Apply

Please send your resume and salary requirements to:

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