VP of Collections

TTCU Federal Credit Union is seeking a dynamic and experienced Vice President of Collections to lead and manage our organization's efforts in minimizing financial losses related to loan defaults, foreclosures, and asset recovery. In this executive role, you will oversee a high-performing team responsible for developing and executing strategies that reduce risk, improve recovery outcomes, and enhance overall portfolio performance.

Supervises: Loss Mitigation Managers

Essential Job Functions and Responsibilities:

• Develop and implement the collections strategy to align with the organization's risk appetite and financial goals.
• Set and update collections policies and procedures in compliance with federal and state laws (e.g., FDCPA, FCRA, UDAAP).
• Lead portfolio segmentation strategies to maximize recovery on delinquent accounts while minimizing operational costs.
• Manage and optimize the day-to-day operations of collections teams, including early-stage, late-stage, recovery, and possibly legal collections.

• Oversee vendor management for third-party collection agencies or legal firms.
• Conduct regular performance reviews and implement training programs to ensure compliance and effectiveness.
• Monitor call quality, compliance with scripts, and adherence to regulatory and internal standards.
• Ensure the collections team adheres to all regulatory requirements, including CFPB, FDCPA, TCPA, and any relevant state regulations.
• Collaborate with credit risk, finance, and underwriting to identify trends in delinquencies and adjust risk appetite or policies accordingly.
• Prepare and present monthly/quarterly reports to senior leadership or the board on collections performance, trends, and risk.
• Forecast loss projections and work with finance to assess impact on earnings and capital adequacy.

Minimum Qualifications:

• Bachelor's degree in business, Finance, or other related discipline required.
• 5-6 years of experience in the financial services industry, with a strong emphasis on credit, collections, loan servicing, and loss mitigation functions.
• Minimum of 8 years in a leadership or management position, preferably overseeing teams in collections, default management, or related operations.
• Direct experience in loss mitigation, loan workouts, foreclosures, or short sales.

Why TTCU Federal Credit Union?
We offer a competitive salary, comprehensive benefits, and a supportive work environment where your contributions make a meaningful impact. Join us in helping our members achieve financial success!