Asssistant Manager Collections in Parsippany, New Jersey at Garden Savings Federal Credit Union

Assistant Manager of Collections

Full-time opportunity in Parsippany, NJ

About the Role:

The Assistant Manager Collections plays a critical role in supporting the collections department to ensure timely and effective recovery of outstanding debts while maintaining positive customer relationships. This position involves overseeing daily collections activities, managing a team of collections agents, and implementing strategies to optimize collection processes. The Assistant Manager will collaborate closely with other departments such as customer service, finance, and legal to resolve complex cases and improve overall collections performance. A key outcome of this role is to minimize delinquency rates and reduce financial risk for the organization by enforcing company policies and regulatory compliance. Ultimately, the Assistant Manager Collections contributes to the financial health of the company by driving efficient collections operations and fostering a culture of accountability and continuous improvement.

Essential Functions:

• Ensure delinquent members are contacted in accordance with Credit Union policy by appropriately deploying staff and routinely reviewing collector productivity.
• Assist with the repossession of delinquent vehicles and monitor repossessed inventory; work to reduce inventory levels by meeting resale timelines in coordination with the dealer network.
• Recommend negative share accounts and loans for charge-off, ensuring all permissible collection efforts have been exhausted and applicable funds applied prior to charge-off.
• Assist with the processing of collateral protection, warranty, and GAP insurance claims and refunds.
• Assist with the processing of credit disputes to ensure timely and accurate correction of members’ credit reports; review all disputes at least annually to ensure reporting integrity.
• Assist with the prep and analysis of various delinquency reports to track performance and support collection strategies.
• Keep the AVP, Collections and Compliance informed of potential concerns, risks, or issues as they arise.
• Review employee timecards and monitor overtime usage, ensuring overtime is approved in advance.
• Identify, recognize, and report suspicious activity to the CFO and AVP, Compliance in accordance with regulatory requirements.
• Assist in other areas or special projects requested by management.

Skills and Requirements:

• Bachelor’s degree or equivalent experience is required.
• 3-5 years of collections supervisory experience – preferably in a financial institution.
• Excellent leadership and mentoring skills, ability to foster a positive and fair environment with teamwork and collaboration.
• Experience with Akcelerant software a plus.
• Knowledge of FDCPA and FCRA, bankruptcies, and foreclosures a must.
• Strong written and verbal communication skills, bilingual preferred.
• Detail oriented with an ability to multi-task while maintaining a high degree of accuracy.
• Proficiency in Excel and strong working knowledge in Microsoft (MS Office) environment and all job-related software programs.
• A high level of integrity, confidentiality, and a strong work ethic is required.

Physical Requirements and Working Conditions:

• Professional office environment with moderate sound.

• Flexibility to work: Monday – Friday 8:30 a.m. to 5:30 p.m. and Saturdays when required.

• Ability to move around the building as well as travel to vendors, other branches, off-site training, and/or company meetings as needed.

• Ability to use office equipment such as computer, telephone, copier, adding machine, etc.

• Ability to sit or stand for prolonged periods of time.

• Vision corrected to within normal limits.

• Ability to listen, hear, and understand to assist members in person and by phone.

Excellent Benefits:

• Medical/RX
• Vision Insurance
• Dental Insurance
• Health Reimbursement Account
• Flexible Spending Account
• Life and Disability Insurance
• Vacation Days
• Sick/Personal time
• Paid Holidays
• Referral Bonus and Incentive Bonus Program
• 401(k) with Company Match
• Employee Discounts
• Profit Sharing
• Credit Union Membership
• Employee Assistance Program
• Paid Training
• Tuition Reimbursement

Garden Savings Federal Credit Union is proud to be an equal opportunity employer, fostering diversity and inclusion in the workplace. All employees and qualified applicants for employment are covered by federal and state discrimination laws. All employment decisions, including recruitment, promotions, appraisals, and/or training are made without regard to any protected characteristics.

If you have any questions, or require assistance or reasonable accommodation, please contact HR@gardensavingsfcu.com or call (973) 576-2014.

If you are passionate about providing exceptional service and contributing to our members’ financial success, we invite you to apply.