Vice President, Loan Servicing and Collections, Finex Credit Union, Wallingford or East Hartford, Connecticut

Responsibilities

• Perform and oversee all consumer loan servicing functions, including payment posting, processing payoff requests, preparing and recording lien releases, administering auto title follow-up, processing GAP and insurance claims, and other loan servicing activities as needed.
• Serve as the primary liaison with Finex’s third-party first mortgage servicing provider, overseeing delinquency management, loss mitigation, foreclosure and bankruptcy activities and resolution of member servicing issues.
• Manage CPI tracking and resolution of any forced-placed insurance.
• Ensure the integrity of our lending policies by performing post-closing quality review of all loans to ensure the documents are in order, payoffs were sent out, releases were received, among other critical procedures.
• Lead and manage the collections process, including oversight of early- and late-stage delinquencies, charge-offs, recoveries, bankruptcies, and repossessions.
• Maintain effective loan servicing and collection policies, procedures, and strategies that align with regulatory compliance and Finex’s service philosophy.
• Supervise and ensure on-time payments and collection of delinquent loans. This requires a hands-on approach that includes participating in active calling to delinquent members and leading the collections call team.
• Monitor portfolio performance and risk trends across all consumer loan products.
• Recommend and take appropriate action on workouts, working with loan review committee as needed.
• Oversee third-party vendors (collection agencies, attorneys, repossession firms) and evaluate their performance.
• Ensure compliance with state Department of Banking and the National Credit Union Administration rules and regulations, and state and federal bankruptcy laws.
• Prepare and present reports on delinquency trends, loss forecasts, and collections performance to senior leadership.
• Recruit, train, coach, and evaluate servicing and collections staff while fostering a culture of accountability, professionalism, and member service.

Requirements/Skills Needed

• Bachelor’s degree in Business, Finance, or related field preferred; relevant experience may substitute for formal education.
• Minimum of 5 years of experience in credit union or community banking loan servicing and collections, including 2 years in a supervisory role.
• Strong knowledge of consumer lending, collections regulations, and credit bureau reporting standards.
• Proficiency with core banking systems (e.g., Symitar) and collection platforms.
• Demonstrated leadership and team-building skills with a commitment to staff development and performance excellence.
• Excellent analytical, negotiation, and interpersonal skills.
• Bilingual (English/Spanish) a plus but not required.