Collections Manager (Part-time 1099 Contractor)

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Washington Area Community Investment Fund (Wacif) seeks a Part-Time Collections Manager to lead the Lending Department’s collection of outstanding debt payments.  The role involves implementing robust collections strategies aimed at optimizing recovery processes and ensuring timely and efficient recovery of overdue debts. The ideal candidate will possess a deep understanding of collections processes and regulations and excellent communication skills.

This role presents an exciting opportunity to make a tangible impact within our community by facilitating financial stability and empowering small business owners to fulfill their financial obligations. If you’re passionate about leveraging your expertise to drive positive change and possess the necessary skills to excel in this role, we invite you to join our team at Wacif.

REPORTS TO: Lending Operations Manager (LOM)

RESPONSIBILITIES: 

  • Manage the collection of loan payments providing guidance, training, and support as needed to ensure favorable outcomes.
  • Develop and implement collections strategies to maximize debt recovery while maintaining positive customer relationships.
  • Monitor and analyze collections performance metrics, identifying areas for improvement and implementing solutions to optimize departmental efficiency and effectiveness.
  • Review and prioritize delinquent accounts, determining appropriate collection actions based on company policies and legal requirements.
  • Coordinate with other departments, to resolve client issues and disputes in a timely manner.
  • Ensure compliance with all relevant regulations, such as Fair Debt Collection Practices Act (FDCPA) and company policies, in all collections activities.
  • Prepare regular reports and presentations on collections performance for management review.
  • Stay updated on industry trends, best practices, and regulatory changes related to collections and debt recovery.

QUALIFICATIONS: 

  • Bachelor’s degree in business administration, finance, accounting, or a related field.
  • Proven experience (5 years) in collections management or a similar role, preferably in a financial or lending institution.
  • Strong leadership and management skills.
  • Excellent communication and interpersonal skills, with the ability to negotiate effectively and resolve conflicts.
  • In-depth knowledge of collections processes, regulations, and best practices.
  • Proficiency in using collections management software and Microsoft Office suite.
  • Analytical mindset with the ability to interpret data and make data-driven decisions.
  • Attention to detail and ability to multitask in a fast-paced environment.
  • Professional certification in collections management or related field (e.g., Certified Credit and Collections Manager) preferred.

WORK SCHEDULE: Up to 20 hours per week.

About the Washington Area Community Investment Fund (Wacif) 

Wacif advances equity and opportunity in the Washington, D.C. area’s underserved communities by providing financial capital, business advisory services, and strategic networking support to underinvested entrepreneurs. Since its inception in 1987, Wacif has deployed more than $100 million in capital, served more than 4,500 entrepreneurs with business advisory services, and helped create or retain more than 44,000 local jobs. To learn more about Wacif’s work, visit www.wacif.org

COMPENSATION

Competitive salary commensurate with experience.  Medical, Dental, Vision, HSA, FSA, DCA, Life & Disability insurance coverages available. 401(k) retirement plan (employer matching contribution eligible); paid time off (increased with tenure), paid holidays and sick leave days, transportation benefits, and education assistance benefits (professional development, tuition reimbursement, and student loan repayment).

TO APPLY

Interested candidates should email a resume, thoughtful cover letter that outlines how your skills and experience meet the qualifications of the position, and salary requirements to with “Collections Manager” in the subject line. 

Wacif is an equal opportunity employer and welcomes candidates from diverse backgrounds.

Wacif provides a flexible and hybrid working environment with the opportunity to work remotely.