Director of Collections

The Director of Collections is responsible for leading and executing strategic initiatives that support the organization’s overall collections objectives. This role oversees department operations, performance, compliance, reporting, budgeting, and recovery strategies while ensuring adherence to all regulatory requirements. The Director of Collections partners across the organization to drive process improvements, maximize operational efficiency, and safeguard assets through effective and compliant collection practices.

Worksite Location: St. Paul, MN – Onsite opportunity.

Salary Range: $125K - $160K/yr. base salary + bonus (final compensation dependent upon experience and qualifications).

Benefits: Comprehensive benefits package including medical, dental, vision, life insurance, disability coverage, paid time off, and 401(k) retirement benefits.

Roles & Responsibilities:

Leadership & Team Development

• Provide strategic leadership, communication, and direction to build and maintain a high-performing Collections team.
• Establish clear responsibilities, goals, and performance expectations for managers and staff.
• Coach, mentor, and evaluate employees to support professional growth and continuous improvement.
• Partner with Human Resources to address employee relations, succession planning, training, and development initiatives.

Strategic & Operational Management

• Develop and execute short- and long-term departmental strategies aligned with organizational goals and budget objectives.
• Oversee day-to-day collections operations, ensuring efficient processes and achievement of performance benchmarks.
• Collaborate with Enterprise Risk Management and cross-functional stakeholders to optimize collections strategies and portfolio results.
• Lead process improvement initiatives focused on efficiency, service quality, and regulatory compliance.

Compliance, Policy & Risk Management

• Ensure compliance with all applicable internal controls, regulations, and policies, including FCRA, bankruptcy, foreclosure, repossession, and consumer debt collection requirements.
• Develop, review, and update departmental policies and procedures to align with regulatory changes and industry best practices.
• Foster a culture of accountability, confidentiality, quality, and risk management.
• Support internal audits, external examinations, and regulatory reviews.

Reporting & Analytics

• Oversee collection performance reporting, delinquency trends, charge-offs, and portfolio analytics.
• Prepare reporting and presentations for executive leadership, Board committees, and risk management stakeholders.
• Analyze industry trends and provide insights into budget forecasting, portfolio performance, and loss projections.
• Utilize data-driven decision-making to improve recovery strategies and operational outcomes.

Vendor, Budget & Resource Management

• Manage relationships with attorneys, third-party collection agencies, and system providers.
• Negotiate vendor contracts and monitor performance, compliance, and cost-effectiveness.
• Lead budget planning, loan loss forecasting, and expense management activities.
• Evaluate and maintain collections technologies and software platforms.

Loss Prevention & Real Estate Management

• Oversee loss prevention and fraud monitoring activities, ensuring timely investigation and resolution.
• Manage Other Real Estate Owned (OREO) assets in partnership with Mortgage Servicing leadership, including property maintenance and disposition activities.

Communication & Collaboration

• Foster strong collaboration across departments to support member service and organizational goals.
• Serve as a subject matter expert on collections policies, systems, procedures, and regulatory requirements.
• Represent the department on committees, training programs, and industry-related initiatives.

Required Skills & Experience:

• High school diploma or equivalent required; Bachelor’s degree in Business, Finance, or a related field preferred.
• 6+ years of progressive collections leadership experience.
• Strong understanding of consumer lending, mortgage lending, commercial lending, and collections operations.
• Comprehensive knowledge of bankruptcy, foreclosure, repossession, creditor legal actions, and collection laws and regulations.
• Experience with real estate workout and loan modification strategies.
• Knowledge of credit reporting requirements and regulatory obligations.
• Strong financial and analytical skills, including forecasting, reporting, and portfolio analysis.
• Advanced proficiency in Microsoft Office, including Excel and reporting tools.
• Experience with financial institution core systems and digital banking platforms.
• Exceptional leadership, communication, and interpersonal skills.
• Demonstrated ability to manage multiple priorities in a fast-paced environment.

Preferred Skills & Experience:

• Bachelor’s degree in Business, Finance, Accounting, or related field.
• Credit union or banking industry experience.
• Experience leading large-scale collections operations.
• Vendor management and contract negotiation experience.
• Experience supporting audits, examinations, and regulatory reviews.

Key Competencies:

• Strategic leadership and team development.
• Strong business acumen and decision-making capabilities.
• Analytical mindset with attention to detail.
• Ability to influence and collaborate across all levels of the organization.
• Excellent verbal and written communication skills.
• Strong conflict resolution and relationship-building abilities.
• Ability to manage competing priorities in a high-volume environment.
• Results-oriented with a focus on operational excellence and continuous improvement.

About Versique

Versique: /ver-seek/ adj. being both versatile and unique; n. a high-performance recruiting firm specializing in executive leadership search, direct hire, and interim hiring solutions.

Versique Executive, Professional, & Interim Recruiting is a locally owned and operated hiring and placement firm based in the Twin Cities of Minnesota. With specialized practice areas across our three divisions, Versique delivers tailored expertise to a wide range of industries. What sets us apart is our team of recruiters—seasoned professionals who have worked in the very fields they now hire for, providing unmatched industry insight and connections.

We believe people are more than resumes—they are transformative, unlocking the potential for organizational growth and success.

Versique is proud to be an award-winning company, earning recognition on the Inc. 5000 list of fastest-growing private companies and the Minneapolis-St. Paul Business Journal's Fast 50 list for 2023. We are also consistently recognized as a Star Tribune Top Workplace and were named a Best Place to Work in 2022 by the Minneapolis/St. Paul Business Journal.

Let's find your people, together.

Versique is an equal-opportunity employer committed to creating a diverse workforce. We consider all qualified applicants regardless of race, religion, color, sex, national origin, age, sexual orientation, gender identity, disability, or veteran status.

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