Accounts Receivable Manager at Carolinas Telco Federal Credit Union – Columbia, South Carolina

POSITION DESCRIPTION:

ACCOUNTS RECEIVABLE MANAGER

Department: Collections

Classification: Exempt

Reports to: Vice President of Member Support

About Us! Carolinas Telco Federal Credit Union is a member-focused financial institution dedicated to providing exceptional service and financial solutions to our community. At the core of our mission lies a steadfast commitment to providing personalized service and a comprehensive suite of financial products. This includes a variety of solutions for individuals and businesses, backed by an innovative online banking platform, ensuring members have the tools they need for financial success.

Job Summary: The accounts receivable manager is responsible for managing the collections department, ensuring the timely recovery of past due accounts, and maintaining positive member relationships. This role requires strong leadership skills, a deep understanding of credit union operations, and the ability to develop and implement effective collection strategies.

Key Responsibilities:

• Oversee daily operations of a team of collection specialists, including monitoring delinquent accounts, escalations, and developing and implementing collection strategies
• Provide exceptional leadership, training, monthly performance evaluations, coaching and mentorship to staff to ensure high productivity and results driven
• Maintain positive relationships with members, addressing their concerns and providing solutions to help them meet their financial obligations
• Prepare and present monthly reporting on departmental projects, improvements, and delinquency, recovery and legal percentages to senior management along with any additional reporting.
• Ensure compliance with credit union policies, state and federal regulations and industry best practices
• Identify and implement process improvements to enhance the efficiency and effectiveness of the collections department
• Assess and mitigate risk, developing strategies to minimize losses and improve recovery rates
• Perform regular reconciliations of delinquent accounts and resolve discrepancies
• Collaborate with various departments to develop and implement loss mitigation; completes special projects as assigned
• Complies with all federal, state, and organizational policies, procedures, and processes, including, but not limited to, the Bank Secrecy Act (BSA) and Office of Foreign Assets Control (OFAC).

Qualifications:

• Associate or bachelor’s degree in finance, Business Administration, or a related field. Equivalent work experience will be considered as a substitution.
• Minimum of 8 years of experience in banking /finance collections, and 10 years management experience preferably within the credit union industry.
• Proficiency and thorough knowledge of collections, bankruptcy/repossession and foreclosure procedures
• Exceptional and proven leadership skills
• Strong analytical and problem-solving skills
• Excellent communication and interpersonal skills
• Impact and results driven

Performance Metrics:

• Delinquency Rate: Maintain a delinquency rate in alignment with the credit union’s established targets.
• Recovery Rate: Achieve a successful recovery rate on delinquent and charge off accounts as deemed by CTFCU.
• Resolution Time: Ensure delinquent accounts are address and or resolved within the specified guidelines
• Member Satisfaction: Maintain a member satisfaction score of 90% within credit union interactions.
• Compliance: Achieve successful compliance rate with all relevant regulations and internal policies.
• Team Performance: Ensure staff meet or exceed their individual performance targets.
• Core Values: Exhibits ongoing commitment and display of the credit unions core values.

DISCLAIMER AND ACKNOWLEDGEMENT

Position descriptions possess the essential functions and basic duties of the role. Peripheral tasks may have been excluded. Requirements, skills, and abilities included have been determined to be the minimal standards required to successfully perform the positions. In no instance, however, should the duties, responsibilities, and requirements contained above be interpreted as all inclusive. Additional functions and requirements may be assigned by supervisors as deemed appropriate.

In accordance with the Americans with Disabilities Act, it is possible that requirements may be modified to reasonably accommodate disabled individuals. Position descriptions are not intended as and do not create employment contracts. The organization maintains its status as an at-will employer. Employees can be terminated for any reason not prohibited by law.

I have received a copy of the above position description and understand the role’s expectations for performance. I understand that should I have questions or need additional directions, it is my responsibility to seek clarification and/or assistance from my direct supervisor.

Employee Signature: __________________________________________ Date: _________________

Supervisor Signature: __________________________________________ (Witness)