Credit Union Collections & Risk Manager

Collections & Risk Manager a/k/a Risk Mitigation Manager

We are currently seeking a Risk Mitigation Manager for our Chicago-Loop (Monroe Street) office to oversee the Risk Management Department, including: loan collections, collateral protection, negative shares, fraud prevention and resolution, credit loss estimation, and insurance-related programs.

Our credit union membership base consists of Com Ed/Exelon, Constellation, Northwestern Medicine, and Northwestern University employees and students, as well as a 14-county community charter including Evanston and Rockford.

Primary responsibilities include:

• Supervise/manage a Collector and a Loan Servicing Representative.
• Oversee applicable Automatic Call Distribution (ACD) Workgroup(s).
• Provide resolution management for member service calls.
• Supervise all loan collections activities.
• Ensure that FNCU's collection activity is conducted in accordance with current collection policies and procedures.
• Prepare monthly delinquency and loan loss reports.
• Administration of bankruptcy and workout activities on accounts in a timely and consistent manner. Vendor management of legal counsel regarding account litigation. Coordinate with trustees.
• Management of the Negative Shares collection queues. Charge off approved negative shares per policy and procedures.
• Manage collateral/mortgage protection (CPI/MPI) programs to ensure proper insurance coverage and minimize collateral-related losses.
• Lead fraud resolution efforts, including investigation, recovery, and member communication, for new memberships and newly opened savings and loan products (including indirect vehicle loans).
• Implement and monitor fraud mitigation strategies to reduce identify theft and account takeover risks.
• Manage the credit union's Current Expected Credit Losses (CECL) methodology, assumptions, modeling, and reporting.
• Utilize software to monitor loan portfolio performance and trends to identify emerging risks and recommend corrective actions.
• Manage the processing and reconciliation of insurance refunds related to chargebacks and back-end refunds related to loan payoffs, charge-offs, or early terminations.
• Work as a leader of special or ongoing projects that are important to departmental development.
• Keep current on governmental regulations related to loan servicing repayment compliance, collections, member information, and record retention.
• Explain financial products and services to members, evaluating their needs, and recommending the credit union's best available options.
• Evaluate/review your staff's performance, including providing performance feedback and coaching.
• Develop, implement, and maintain department procedures and policies.
• Assist in auditing and reporting functions.
• Multi-task and receive and assign or complete work through a variety of channels, including online, telephone, in-person, mail, fax, etc.
• Maintain a thorough working knowledge of credit union history and philosophy, as well as policies and procedures.

Qualifications include:

• Bachelor's degree.
• 3+ years of experience in collections, fraud, and/or risk management.
• Solid computer, analytical, math, and communication skills.
• Management experience is preferred.
• Bilingual (English/Spanish) is a plus.

Office address:
First Northern Credit Union
230 W. Monroe St. Ste. 2850
Chicago, IL 60606
(on Franklin between Monroe & Madison)

Typical work schedule:
In-person, Monday through Friday, 7:45 a.m. to 4:45 p.m.

Compensation:

• $75,100 - $79,815 per year
• Full-time, 40 hours per week
• First Northern offers a generous benefits package including medical, dental and vision insurance; free life & disability plans; 401(k) with company match after 1 year of employment.

Please be advised that First Northern Credit Union conducts background and credit checks for all positions.

EOE
Drug-Free Work Environment
M/F/D/V