Vice President, Collections

Truliant's mission is to improve lives by putting our members first, providing great service and straightforward financial solutions. Our core values of Member Focus, Service, Guidance, Relationships, and Community define how we interact with members to fulfill our mission of improving lives and providing a foundation on which we conduct ourselves.

Our Promise to Our Teammates: Truliant strives to provide all teammates with an enjoyable place to work where they feel valued, empowered and rewarded for all that they do.

Purpose of the Job

The Vice President (VP) of Collections is responsible for the overall leadership, performance, and administration of the Credit Union's consumer lending program and Collections Department. The VP will oversee the credit union's collections operations, ensuring the effective management of delinquent accounts while maintaining a member-focused approach. This role involves developing and executing collection strategies, leading a high-performing collections team, and ensuring compliance with all applicable laws and regulations. Ensures Credit Underwriting operates within Federal Regulation, Credit Union policy and member-owner philosophy while overseeing the overall activities of the underwriters. The VP will work closely with executive leadership to minimize losses, improve recovery rates, and optimize member repayment solutions.

Essential Functions and Responsibilities

• Serves as a member of the senior management team (SMT) to direct the credit union's overall consumer underwriting and collection efforts through active participation with Senior Management, the Board of Directors, external service organizations, and vendors.
• Develops and executes the strategic and operational plan for consumer and indirect lending and manages credit union lending function by directing and coordinating activities consistent with established goals, objectives, and policies.
• Partner with senior management to develop and refine credit policies that support organizational goals. Ensure consistent adherence to these policies and implement effective credit risk mitigation strategies across all credit-related functions.
• Oversee credit analysts and underwriters in evaluating borrower creditworthiness and recommending appropriate credit terms. Monitor credit exposure and portfolio quality to identify risks and drive continuous improvement.
• Develops and implements a comprehensive collections strategy to reduce delinquency and charge-offs while supporting the financial well-being of members.
• Leads and mentors the underwriting team and collections team, including managers, supervisors, collectors, underwriters and support staff, fostering a high-performance culture.
• Establishes and monitors key performance indicators (KPIs) for collections efficiency and effectiveness.
• Ensures compliance with all federal, state, and credit union policies, including the Fair Debt Collection Practices Act (FDCPA), Consumer Financial Protection Bureau (CFPB), and NCUA regulations.
• Collaborates with executive leadership to align collections strategies with the credit union's financial goals.
• Develops and ensures budgetary controls with consistent department review and implements new methods and procedures to make the programs more efficient and cost-effective.
• Develops and refines policies for early-stage and late-stage collections, including loan modifications, repayment plans, and legal actions.
• Optimizes the use of collections technology, automation, and data analytics to improve efficiency and member communication.
• Monitors and assesses the credit risk portfolio, providing insights and recommendations to mitigate potential losses.
• Manages relationships with external agencies, including collection agencies, attorneys, and repossession companies.
• Ensures that all collections activities are conducted in a professional and empathetic manner, focusing on member retention and financial rehabilitation.
• Implements programs to support members facing financial hardship, including loan extensions, modifications, and debt counseling partnerships.
• Stays updated on industry regulations and compliance requirements impacting collections.
• Prepares and presents collections performance reports to the executive team and board of directors.

Other Duties and Responsibilities

• Assists with other tasks and projects as assigned.

Knowledge, Skills, and Abilities

• Must have advanced knowledge of collection procedures, call center procedures and technology, consumer bankruptcy laws and procedures, repossessions, foreclosure and recovery.
• Must have a strong understanding of regulatory requirements, including FDCPA, CFPB, NCUA, FCRA, UDAAP, bankruptcy laws, repossession laws, fair lending regulations, and management and control of operations to ensure compliance.
• Must have strong interpersonal skills and a decisive approach to problem-solving required, which facilitates interaction with members at all levels and particularly with members who often face challenging financial situations.
• Must have excellent communication skills in English, both verbal and written.
• Must have deep knowledge of collections strategies, credit risk management, and loss mitigation practices.
• Must have exceptional leadership and team-building skills with the ability to inspire and develop staff.
• Must have excellent analytical and problem-solving abilities.
• Must have effective communication and negotiation skills to work with members, regulators, and external agencies.
• Must have strong strategic planning abilities focusing on process improvement and operational efficiency.
• Must have intermediate skills in MS Excel, Word, and Outlook.
• Must be able to maintain confidentiality.
• Must be able to work in a general office environment.
• Must be able to complete assignments with minimal supervision.
• Should possess a strong commitment to providing excellent service to Truliant's members.

Physical Requirements

• Occasional standing, walking, bending, and stooping required.
• Must be able to sit at a desk for long periods of time and use a computer.
• Must be able to moderately lift or move up to 5 pounds and occasionally lift or move up to 10 pounds.

Education and Background

• Bachelor's degree in Business Administration, Finance, Accounting, or a related field required; related Masters or MBA preferred.
• 7+ years of experience in collections, lending, or credit risk management, preferably within a credit union or financial institution required.
• Minimum of 7 years management experience required, 3 years of which in a senior management role.
• Experience working with credit unions or member-centric financial institutions preferred.
• Experience managing third-party vendors, collection agencies, and legal firms preferred.
• Bilingual proficiency in Spanish is a plus.

If you have a passion for member service and would like to invest in a meaningful career with opportunity for growth, we encourage you to apply to Truliant!

As a member of the Truliant family, you will enjoy the following full time benefits:

• No-cost employee Medical, dental, vision coverage
• Prescription benefits (including mail order)
• Paid holidays and Paid Time Off (PTO)
• 401(k) plan with contribution matching
• Paid community involvement volunteers hours
• Paid group life Insurance
• Teammate loan discounts
• Tuition reimbursement
• Short and long-term disability
• Health & Wellness program
• Teledoc (physician video conferencing)
• Onsite fitness facilities or health club reimbursement
• Employee Assistance Program (EAP)
• Medical flexible spending account
• Dependent care flexible spending account