Collections Manager

Do you have experience in collections or a compliance role? Looking to lead a team in Repayment Solutions? Join our dynamic team at Free Star Financial Credit Union!

Job Title: Repayment Solutions Manager

Location: Selfridge Office

Schedule:Mon - Fri (Full-Time)

• 4 weeks PTO available in the first year
• 401k with up to a 6% match
• Up to a 5% year-end bonus

The primary purpose of the Repayment Solutions Manager is to assist Free Star Financial Credit Union in fulfilling our mission to positively impact the lives of our members, team members, and community through making meaningful connections and progressive financial solutions.

Ensure that the credit union's collections, loss mitigation, fraud prevention, dispute resolution, and risk management policies and procedures protect the credit union while supporting fair and appropriate member outcomes. Oversee assigned staff and provide leadership, guidance, and professional development. Ensure compliance with applicable state and federal laws, regulations, network rules, and internal policies. Monitor portfolio performance, fraud trends, emerging risks, and economic conditions;

recommend strategies and controls to reduce losses and strengthen operational effectiveness.

Monitor paid ahead loans on a monthly basis.

Oversee the credit union's delinquency management strategy and ensure timely, consistent follow-up on delinquent, high-balance, and overdrawn accounts through approved communication channels. Segment accounts by risk, balance, delinquency stage, collateral, member circumstances, and likelihood of recovery; assign appropriate collection treatments and ensure all member interactions are professional, accurate, and compliant.

Ensure members with high-balance or delinquent accounts are contacted to determine the cause of the delinquency, assess ability and willingness to repay, and identify appropriate resolution options. Oversee payment arrangements, modifications, settlements, hardship solutions, and other workout plans within approved authority levels, with required documentation, approvals, and monitoring through completion.

Oversee the credit union's fraud prevention, detection, investigation, and recovery activities, including debit card and electronic funds transfer disputes. Ensure cases are investigated, documented, resolved, and reported within applicable regulatory and network time frames. Establish escalation protocols for significant incidents, repeat offenders, internal control concerns, and matters requiring legal, insurance, law enforcement, or senior management involvement.

Responsible for reviewing delinquent mortgage loans and identifying potential solutions for avoiding foreclosure. After identifying an appropriate solution for preventing foreclosure, negotiate with homeowners, real estate agents for increasing potential savings to the Credit Union.

Lead the response to significant fraud and operational risk events by coordinating containment, investigation, member remediation, evidence preservation, recovery efforts, insurance notifications, and communication with Compliance, Information Security, Legal Counsel, law enforcement, and senior management. Complete root-cause analyses and ensure corrective actions are assigned, tracked, and validated.

Ensure thorough and accurate record-keeping is required. Documentation of modified loan details, proposed resolutions, approvals from management, correspondence from member, and file analysis must be maintained for each loss mitigation case.

Develop, implement, evaluate, and regularly update policies and procedures for collections, loss mitigation, fraud prevention, dispute resolution, and operational risk management. Establish sound internal controls, approval authorities, segregation of duties, quality assurance reviews, and escalation requirements to mitigate regulatory, financial, legal, reputational, and operational risks.

Conduct and maintain periodic fraud risk assessments covering products, delivery channels, payment methods, third-party relationships, member authentication, account takeover, identity theft, check fraud, card fraud, electronic payments, and internal fraud exposure. Recommend control enhancements based on identified vulnerabilities, loss trends, regulatory guidance, and emerging schemes.

Monitor changes in applicable laws, regulations, regulatory guidance, card-network rules, and legal requirements affecting collections, servicing, loss mitigation, fraud, disputes,…