Overview
To plan and supervise the activities of one or more teams responsible for Overdrawn Accounts (OD), Overdrawn Accounts Risk Management, and Accounts Receivable Charge Off. Strategize, develop, and analyze new approaches, and make recommendations to ensure work quality, work methods, procedures, processes, and production standards are maintained while meeting business goals and standards of member service. Collaborate with management on policies and procedures to ensure section is operating within compliance. Review and analyze escalated issues to determine the best and most effective and efficient collection approach. Serve as main point-of-contact and subject matter expert regarding Overdrawn Accounts and Accounts Receivable Charge-off. Support senior management in developing and executing strategic plans.
Responsibilities
Analyze, research, and resolve escalated problems and discrepancies related to member deposit accounts in accordance with applicable laws, rules, regulations and NFCU policies and procedures.
Respond to members, NFCU departments, or external agencies which may include court proceedings, the Consumer Finance Protection Bureau and/or the Better Business Bureau
Oversee the development and revision of procedures, processes, and training programs/materials
Develop section objectives, production goals, standards and strategies, work fluidly to change strategy as workflow changes
Collaborate with management, internal and external auditors and Compliance to assist with reviewing and implementing procedural changes regarding recovery practices and completion of periodic risk assessments and recommendations implemented
Drive third party vendor relationship improvement through cross-functional collaboration and project support to ensure service level agreements and performance expectations are met
Respond to inquiries from General Counsel regarding litigation pertaining to Collection and Recovery practices
Work with survivor support to reconcile deceased members accounts
Partner with multiple business units across Navy Federal to mitigate loss and protect company assets by investigating concerns, potential fraud, employee/branch office errors
Participate in the analysis, testing, and implementation of new automated systems
Research, gather and synthesize data; present conclusions and recommendations to management and/or team members
Serve on teams and task groups for projects/initiatives within the business unit and/or across the organization
Perform other duties as assigned
Qualifications
Experience supervising and/or leading a collections operation, with an emphasis in collecting delinquent deposit accounts, accounts receivable and litigation accounts, preferably in a large financial institution
Expert knowledge of applicable federal and state laws, rules and regulations that govern the collection of overdrawn deposit accounts, charged-off consumer loans, credit cards, and or deposit accounts, bankruptcy, settlements, repossessions and loss mitigation
Ability to comprehend, analyze, interpret, communicate and apply government and financial industry regulations, related principles and practices, and company instructions, procedures, and policies
Ability to work effectively and efficiently with automated systems
Advanced knowledge of banking/financial industry trends, products and services
Ability to work independently and in a team environment
Advanced knowledge of accounting, credit, and/or lending principles and techniques
Exposure to applications/systems analysis, workflow or procedural analysis
Advanced organizational, planning and time management skills
Advanced skill conducting complex personal and business financial analysis
Advanced skill building effective relationships through rapport, trust, diplomacy and tact
Advanced skill in researching, compiling, and documenting data, business processes, and workflow
Advanced skill maintaining composure in a high production and changing environment
Advanced skill to influence, negotiate & persuade to reach agreeable exchange & positive outcomes
Advanced skill exercising initiative and using good judgment to make sound decisions
Advanced verbal and written communication skills
Bachelor's degree in Finance, Business Administration, or related field, or the equivalent combination of education, training and experience
Desired Qualifications
Hours: Monday - Friday, 9:00 - 5:30 FLEX EST
Location: 820 Follin Lane, Vienna, VA 22180
About Us
Navy Federal provides much more than a job. We provide a meaningful career experience, including a culture that is energized, engaged and committed; and fierce appreciation for our teams, who are rewarded with highly competitive pay and generous benefits and perks.
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Equal Employment Opportunity: Navy Federal values, celebrates, and enacts diversity in the workplace. Navy Federal takes affirmative action to employ and advance in employment qualified individuals with disabilities, disabled veterans, Armed Forces service medal veterans, recently separated veterans, and other protected veterans. EOE/AA/M/F/Veteran/Disability EOE/AA/M/F/Veteran/Disability
Hybrid Workplace: Navy Federal Credit Union is a hybrid workplace, and details will be discussed during your interview process.
Disclaimers: Navy Federal reserves the right to fill this role at a higher/lower grade level based on business need. An assessment may be required to compete for this position. Job postings are subject to close early or extend out longer than the anticipated closing date at the hiring team's discretion based on qualified applicant volume. Navy Federal Credit Union assesses market data to establish salary ranges that enable us to remain competitive. You are paid within the salary range, based on your experience, location and market position
Bank Secrecy Act: Remains cognizant of and adheres to Navy Federal policies and procedures, and regulations pertaining to the Bank Secrecy Act.
REQNUMBER: 21150
