Recoveries Manager

Purpose : The Recovery Manager is responsible for the collection and recovery of retail, consumer and mortgage loan losses. This position is responsible for developing strategies to minimize “bad debt” portfolio loss and determines the appropriate method to ensure the recovery of loan losses through various methods: In-house collection practices, Third-Party Collection Agency assignment; Attorney referral; and/or Litigation which includes suit and judgment. The primary focus is implementing best practices to maximize recovery.

Essential Functions:
• Manages Consumer Loan Workout Specialists. Develops input to strategic decisions that affect the functional area of responsibilities. Analyze and submit recommendations to improve productivity while maintaining established goals.
• Clearly establish challenging and measurable goals and track performance and expectations of agencies, attorney firms and staff. Review expectations and issue progress reports to all parties. Identify and manage potential risk associated with charged-off debt and the recovery process. Develop action plans to minimize risk and loss and to ensure quality service levels are maintained.
• Analyze and prepare reporting for management outlining the performance of the litigation workstream as well as the performance of team and third-party vendors. Conduct annual off-site field audits to ensure compliance with expectations. Oversee the strategic effectiveness.
• Define and develop re-payment plans for debtors. Serve are primary liaison between Bank, Attorney Firms and Collection Agencies. Design, implement and monitor agency and attorney settlement programs.
• Ensure compliance with all applicable federal, state, local regulations, and requirements for due diligence. Must possess superior knowledge of state, federal compliance mandates which govern collection and recovery activities: Fair Debt Collection Practices Act, Fair Lending, SCRA, UDAAP, Privacy, Bank Policies and Procedures, UCC requirements and state and federal Bankruptcy laws. Must contribute to audit and compliance examination inquiries and responses.
• Must analyze, research, and resolve escalated issues arising from: operations, customer inquiries, disputes, Credit Bureau inquiries, Bankruptcy filings, S&C service, Judgment filings and income and property executions.
• Provides input for the annual budget planning with regard to: anticipated expenses, cost reduction and savings, staffing and salaries, loss losses and recoveries.
• Create and maintain team and individual performance assessments. Design, implement and distribute monthly and annual statistical reporting and comparisons. Evaluate and discuss team and individual improvement plans when warranted. Create quantifiable growth path for team.
• Provide on-going coaching and feedback. Recognize and further develop staff talent, level of on- the- job training, education and expertise. Create and encourage an all-inclusive environment to motivate and energize the team to maximize contributions and results.
• Demonstrate the standards and principles of the Five Star Bank experience in every interaction with internal and external customers, and associates. Incorporate the high-performance behaviors of teamwork, leading by example and service in every facet of work.

Job Related Qualifications:
• Education: Associate Degree, Bachelor’s Degree preferred
• Prior Experience: 5+ years or Collection Recoveries, or Banking of Collection Agencies, or Credit Union, or Attorney Firms. Supervisor or Management experience preferred
• Licenses or Accreditation: None required

Competencies:
• Expert knowledge of Consumer/Retail Indirect and Direct loan products, Mortgage loans, Government Guaranteed Loans, Small Business and Commercial loans.
• Expert knowledge of the regulatory environment and state and federal compliance, due diligence, and mandates. This pertains to FDCPA, SCRA, Privacy, Fair Lending, UDAAP, UCC laws, Bankruptcy laws, dispute and complaint filing resolution. This also includes all Bank policies and procedures.
• Expert knowledge of suit, judgment and associated enforcement to include: Real Property Lien filing, Replevins, Income and Collateral Property Executions. This also includes the timing of Demand Letters, Service, Index numbers and Judgment filing.
• Must be proficient in all areas where collection, litigation and enforcement may be prohibited. Must be well versed in the various UCC laws, Bankruptcy Courts and Peacekeepers Courts.
• Must possess strong communication skills to produce effective procedures, work-flows and the recovery of losses. Must be able to effectively work with team members, peers, management and third-party vendors to maximize the recovery of losses. Must possess highly defined negotiation skills.
• Must possess strong organizational and project management skills and the ability to manage competing priorities, projects and deadlines simultaneously.
• Must possess leadership skills and a demonstrated history of success in achieving goals and objectives.

Physical Requirements:
• Able to regularly sit for prolonged periods of time.
• Able to regularly stand for prolonged periods of time.
• Able to travel:
• occasionally
• Extensive computer usage is required.
• Ability to work:
• Evenings
• Occasionally
• Weekends
• Occasionally

Benefits:
• Medical, Dental, and Vision Insurance
• Health Savings Account
• Flexible Spending Account(s)
• Company Paid Life Insurance, Long Term Disability, and Short Term Disability
• Voluntary Offerings: Life, Critical Illness/Specified Disease, Accident, Hospital Indemnity & Personal Accident
• Tuition Reimbursement
• Employee Referral Program
• Wellness Reimbursement Program
• Star Volunteer Program
• Employee Banking and Financial Perks
• Paid Time Off (PTO)
• Company Paid Holidays

This job description is not exhaustive. The Recoveries Manager may be required to perform other duties as assigned.

The expected rate of pay for this position is shown above. Compensation offers are based on a wide range of factors including relevant skills, training, experience, education and, where applicable, licenses or certifications obtained. Market and organizational factors are also considered. In addition to your base rate of pay and a competitive benefits package, successful candidates may be eligible to receive cash or equity-based incentives based on the role and performance