Loss Mitigation Manager

Description:

ABOUT THE POSITION

Loss Mitigation Manager is responsible for operationally management of the Loss Mitigation Team and it's efforts to proactively manage delinquent accounts by contacting Credit Union members. This role involves identifying potential risks, working with internal team and members to resolve payment issues and escalated situations, providing advanced oversight of repayment solutions, and implementing strategies to mitigate loan losses.

NORMAL DAY-TO-DAY WORK

1. Operationally manage early and late-stage delinquency management efforts by ensuring Loss Mitigation Team is monitoring loan accounts and identifying members who are at risk of becoming delinquent.
2. Primary oversight of Loss Mitigation Workforce Management and Scheduling.
3. Recommend strategic collection efforts and assist in operational implementation of strategy.
4. Maintain oversight of overall collection efforts to ensure team goals and KPIs are met.
5. Work with the Loss Mitigation team to approve escalated repayment plans and settlements.
6. Strategically recommend loan modifications and workout plans for approval.
7. Provide primary management escalation assistance to active and charged off accounts.
8. Accurately document all member interactions, payment agreements, and actions plans in the core collection system.
9. Provide members with information on financial education resources and tools to help them manage their finances and avoid future delinquencies.
10. Foster a culture of cross-team collaboration and bench-strength within the Loss Mitigation Team, including functions of escalated collection actions and Default Management.
11. Maintain and train knowledge of Default Management Team practices and procedures to best aid in cross-team communication.
12. Be a primary resource for knowledge of elevated account actions, insurance claims, and collateral recovery efforts to best assist with membership communication pre and post charge off.
13. Collaborate as necessary with other internal business units and resources to ensure a coordinated approach to loss prevention.
14. Assist the AVP of Risk Assessment and Loss Mitigation with reviewing reports on delinquency trends, member interactions, and recovery efforts.
15. Ensure all activities are in compliance with federal and state regulations, as well as Credit Union policies, guidelines, and procedures.

JOB QUALIFICATIONS

Here are a few skills you MUST have to be qualified for this position.

1. Minimum 4-6 years experience in consumer, commercial, and real estate collections or combination of experience and advanced education.
2. Minimum 1-3 years of experience in a lead or leadership role in financial services.
3. Must have an understanding of consumer credit reports, income statements, and credit principles.
4. Must have an understanding of accounting principles and business financial statements and tax returns.
5. Experience with credit procedures, policies, regulations and laws, in addition to knowledge of bankruptcy and consumer law.
6. Strong interpersonal skills with ability to work in a team environment.
7. Ability to function in a Consumer business office environment and utilize standard office equipment including but not limited to: PC, copier, telephone, etc.
8. Ability to lift a minimum of 25 lbs. (file boxes, computer).
9. Travel required on occasion.

Here are a few qualities we'd LIKE for you to have to make you more suited for this position.

1. Bachelors degree
2. 1-3 years of experience in credit underwriting, portfolio evaluation, or administration.
3. Prior escalated collections experience including repossession, foreclosure, and small claims management.

CIVIC CULTURE

Our organizations believe we can all do well by doing good. We value the contributions of diverse minds and prioritize the success and well-being of our employees. We also believe every person in our organization plays a role in supporting a healthy environment and helping to achieve our goal of prosperity for all. To this end, we recruit bright, energetic, and talented people to be members of our team. In return, we offer a dynamic workplace that presents opportunities for professional advancement and individual growth. We strive to always display integrity, self-awareness, courage, and respect for one another while continuing to seek opportunities to learn. We really believe that when our employees succeed, our community wins.

If you have questions about this position description, please feel welcome to ask. You can reach our HR Department at:

Civic Human Resources

3600 Wake Forest Road, Raleigh, NC 27609

careers@civicfcu.org

Requirements:

PI269378606