The Federal Reserve Bank of St. Louis is hiring a LEAF Collections Manager to lead an assigned team responsible for collections, repossessions, remarketing, litigation, and bankruptcies for small-ticket business equipment leases. You will develop and implement strategies to improve collection effectiveness and reduce delinquencies.
What You'll Do
- Manage the collection of past due payments on active loan and lease accounts to bring delinquency ratios within target ranges.
- Assist assigned Collectors with assessing collections options, tools, and implementing tactics to secure payment or minimize loss.
- Assist in asset repossession and remarketing, focusing on complex cases, to minimize acquisition and resale timeframes while maximizing funds received.
- Assist in bankruptcy and litigation to minimize collection timeframes and maximize amounts received.
- Work with an external servicing vendor to monitor delinquencies, assist with individual accounts, and provide timely guidance and decisions.
- Approve, or recommend for approval, asset sales, litigation, and collection settlements within your assigned authority.
- Establish, implement, and ensure adherence to relevant policies and proper accounting for collection accounts.
- Utilize tracking and reporting systems to manage daily activities; analyze reports to identify issues and take appropriate action.
- Provide ad-hoc and established summary reports for management.
- Develop and implement strategies to improve collection effectiveness, reduce delinquencies and charge-offs, and maximize funds recovered while minimizing recovery time.
- Exercise usual managerial authority concerning staffing, performance appraisals, promotions, salary recommendations, performance management, and terminations.
- Understand and adhere to the Company’s risk and regulatory standards, policies, and controls.
- Design, implement, maintain, and enhance internal controls to mitigate risk.
- Identify risk-related issues needing escalation to management.
- Promote an environment that supports belonging and reflects the M&T Bank brand.
- Maintain M&T internal control standards, including timely implementation of audit points and regulatory issues.
- Complete other related duties as assigned.
What We're Looking For
- A minimum of 7 years of higher education and/or work experience, including at least 5 years in collections, workout, and/or recovery.
- A minimum of 2 years of supervisory and/or work leadership experience.
- Strong verbal and written communication skills.
- High proficiency with personal computers, spreadsheets, word processing, and email software.
- Strong problem-solving, interpersonal, and analytical skills.
Nice to Have
- Minimum of an Associate’s degree.
- Minimum of 10 years of commercial equipment leasing and finance collections, workout, and/or recovery experience.
- Minimum of 5 years of supervisory experience.
- Workout and credit analysis experience.
- Prior experience with business-specific systems.
- Knowledge of laws and regulations regarding asset recovery.
Team & Environment
This is a supervisory/managerial role leading a team of 6-10 staff. You will promote an environment that supports belonging and reflects the M&T Bank brand.
Benefits & Compensation
- Annual Salary Range: $71,985.72 - $119,976.20 (USD)
Work Mode
This is an onsite position located in Clanton, Alabama, United States of America.
The Federal Reserve Bank of St. Louis is an equal opportunity employer.
