Location
Cambridge, Cambridgeshire | United Kingdom
Job description
Valley Credit Union, Nova Scotia, is a full-service financial institution with 7 branch locations, 62 employees, and over $ 280 Million in assets. Located within the Beautiful Annapolis Valley.
Valley Credit Union has an immediate need for a Full Time, Manager, Credit Risk
This position will be based out of Valley Credit Union’s:
Reporting to the Vice President Member Experience, the Manager, Credit Risk is responsible for; delinquency control and the collection of all delinquent accounts of consumer, mortgage and commercial loans, credit card and other loans to recover past due accounts, overseeing centralized loan audit and administration, and lending adjudication within assigned lending limits.
Key Responsibilities (Manager, Credit Risk):
- Leads and develops a Team of 3-5 Individuals including coaching, training and development of the team to ensure the department operates efficiently and provide excellent member and branch service.
- Oversees centralized audit of funded lending accounts to ensure adherence to policy and procedures by branch and commercial officers within their assigned lending limits.
- Oversees centralized loan administration and support covering posted direct transactions, PCA renewals review, overdraft management and reporting, transaction messaging, delinquency, paid off loans, CUMIS sales and cancellations, and PPSA security registration.
- Reviews delinquent accounts to determine which customer-owners must be contacted for collection of overdue payments. In conjunction with Branch efforts, contacts delinquent borrowers in person, by telephone, or by mail, to encourage prompt repayment of delinquent accounts and discuss available options and alternatives.
- Confers with Branches to determine reason for overdue payment, reviewing terms of loan, charge, or credit contract with member. Works with Branches to recover principle, interest, and security from Borrowers. Provides financial counseling to customer-owners as required and makes referrals for those requiring financial planning advice.
- Records information about financial status of borrower and status of collection efforts. Maintains a log on bankrupt accounts and other file information regarding legal and regulatory processes.
- Prepares various delinquency reports including allowance for impaired report; delinquency rate report; loan statistical report and system credit committee report. Prepares report of loans recommended for write-off and following up on written off loans to monitor opportunity for recapture. Prepares monthly reports for credit committee and attends meetings.
- Recommends orders for repossession (i.e. auto), demands and foreclosures on delinquent mortgage loans, or cancellation of credit or initiates legal action as appropriate. Maintains liaison with legal counsel on collections and foreclosures.
- Prepares claims to CMHC, SBLA, etc. as required.
- Files claims in Small Claims Court and attends hearings to present evidence in support of the credit union’s claim.
- Adhere strictly to Anti-Money Laundering and Terrorism Financing (AMLTF) compliance
- Adjudicates Personal Credit Requests while adhering to all VCU Policies and Procedures within assigned Lending Limits.
Successful Candidate will possess the following qualifications:
The Manager, Credit Risk will have successfully completed a one- or two-year business program plus have 3-5 years’ experience in people management and have 7-10 years of credit and collections experience in a financial institution; or equivalent combination of training and experience in credit management.
We offer…
- Outstanding culture and opportunity to join an engaged and community-focused team.
- Tuition reimbursement, training, and personal development opportunities
- Competitive compensation and benefits with performance-based incentives
- Generous benefit package including a Flexible Health and Dental Plan and up to 6% contribution with employer match in a Defined Contribution Pension Plan
- Additional employee perks include but not limited to wellness credit; and reduced rates on employee loans/mortgages and no service fee banking.
We are an equal opportunity employer, all persons regardless of race, colour, sex, age, national origin, religion, sexual orientation, gender identity and/ or expression, will be considered, only those selected for an interview will be contacted.
If you are interested in joining a team that believes in going the extra mile! Please submit your cover letter and resume outlining your qualifications to Human Resources at [email protected] quoting job number VCU-MCR-01-2023
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Valley Credit Union is a member of the Nova Scotia Credit Union Deposit Insurance Corporation (CUDIC) , which at $250,000, provides the highest deposit insurance protection in Nova Scotia.
Valley Credit Union Limited | Mortgage License #3000173#J-18808-Ljbffr
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