Credit and Collections Director leads the overall credit function. Designs and implements processes to improve cash flow and reduce receivables. Being a Credit and Collections Director develops policies regarding the investigation of customers, extension of credit lines, and collections. Consults with current and future clients regarding their level of credit. Additionally, Credit and Collections Director oversees the negotiation and course of action taken for overdue accounts. Typically requires a bachelor's degree. Typically reports to top management. The Credit and Collections Director manages a departmental sub-function within a broader departmental function. Creates functional strategies and specific objectives for the sub-function and develops budgets/policies/procedures to support the functional infrastructure. Deep knowledge of the managed sub-function and solid knowledge of the overall departmental function. To be a Credit and Collections Director typically requires 5+ years of managerial experience. (Copyright 2024 Salary.com)
Role:
This position would include but not be limited to working to minimize potential losses on delinquent loans by
contacting credit union borrowers to work toward resolution of the delinquency in accordance with departmental
and legal guidelines.
Essential Functions & Responsibilities:
Communication with defaulted customers to obtain payment commitments
Identify, evaluate and resolve reasons for delinquency.
Skip tracing accounts for possible leads to find members information to contact them.
Record all collection efforts via the collection system.
Recommend additional actions with Management assistance on delinquent accounts.