Collections Manager

Job Details

Job Location: Corporate Office - Rapid City, SD 57702

Job Category: Banking

We have the fundamental belief that we, as an organization, can and will improve lives. Rooted in the centuries‑old credit union philosophy of people helping people, we maintain a simple premise. Those we interact with will receive equal and just treatment, devoid of intolerance, false judgment, racism, or discrimination of any kind. We must not accept less if we are to fulfill our mission, "We Improve Lives."

This mission empowers us to serve the greater good and to make a difference in our world. Our cooperative structure creates a cycle of mutual assistance towards the common goal of the financial well‑being of members.

At BHFCU, we’re committed to improving the lives of our members every day, and we look for people who share that passion. Don’t have a ton of financial industry experience? No problem. Our onboarding includes an orientation program with ongoing training to help staff further their career at BHFCU by building on their existing strengths.

The Collections Manager is responsible for providing oversight of the overall operation and supervision of the Collections Department. This role ensures alignment with the organization’s business goals, collaborates with leadership, manages and mitigates various risks, and ensures regulatory compliance to maintain the financial health and stability of the organization.

• Supervise day to day operations of the Collection Department, ensuring efficient and effective operations.
• Develop and implement collection strategies to minimize delinquency rates and recover outstanding debts.
• Lead the collections team by setting clear expectations, fostering a collaborative environment, and ensuring alignment with the department's strategic goals.
• Implement and monitor processes to maximize team productivity, ensuring that all team members are meeting or exceeding performance standards.
• Regularly review and assess both department and individual performance metrics, identifying areas for improvement and recognizing achievements.
• Conduct regular observations of team members' work, providing constructive feedback and coaching to support their professional development and enhance overall team performance.
• Monitor collection activities and performance metrics, providing regular reports to executive leadership.
• Ensure compliance with all relevant regulations and policies.
• Work with third parties, including legal, to ensure alignment and effective recovery strategies and mitigation.
• Recommend accounts to be charged‑off to the Asset Management Committee/ALCO as well as provide recommendations for at‑risk loans that need to be monitored or appropriately prepared for.
• Prepare monthly charged‑off loan payment report for Management and Board of Directors.
• Ensure all collection activities comply with legal and regulatory requirements.
• Conduct regular audits and reviews to ensure compliance.
• Prepare and present regular reports on collections performance to executive leadership.
• Analyze data to identify trends, risks, and opportunities for improvement.
• Utilize data‑driven insights to refine strategies and improve outcomes.

• Responsible for the development of department budget consistent with the strategic plan and overall budget.
• Review and update policies to ensure best practices, regulatory compliance, and appropriate risk tolerance levels, as appropriate.
• Evaluate vendor performance and the deliveries of their services, maintaining strong relationships. Collaborate with internal and external teams regarding system integration to ensure seamless operations and alignment with organizational goals.
• Stay updated on changes in regulations and adjust strategies accordingly.
• Other duties as assigned.

• Strong knowledge of regulatory requirements and compliance.
• Excellent leadership, communication, and analytical skills.
• Ability to work collaboratively with leadership and cross‑functional teams.
• Expert knowledge of laws and regulations affecting lending and collections.
• Strong written and verbal…