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Residential & Consumer Loan Loss Mitigation Manager

SUMMARY:
Responsible for the supervision of a Residential and Consumer loan collections and workout team. Performs a wide variety of collection functions while providing effective customer service in conformance with established bank policies and procedures, FCRA, and state and federal regulations. Resolves issues and provides guidance to team members. Implements and administers Bank policies, procedures, manuals, and systems to determine and establish appropriate controls. Ensures team objectives are accomplished, and compliance with regulations is maintained. Maintains the values of the Bank.
ESSENTIAL JOB FUNCTIONS / RESPONSIBILITIES:
Manages Collections Team that performs the following duties:
Delinquent Loan Account Collections:
Calls and sends letters to loan customers where delinquency is 16 days or more.
Ensures that all documentation is legal, accurate, and timely regarding all contacts with the customer.
Reports monthly investor delinquencies.
Orders property inspections.
Disburses debt counseling paperwork and gives names of assistance agencies.
Loan Workout:
Performs Residential and Consumer workout functions assigned by Loan Operations Officer.
Corresponds with the customer and mortgage investors regarding workout and payment plans.
Contacts Bank and Investor workout attorneys.
Monitors workout plans and keeps Loan Operations Officer informed of failure to comply.
Updates system; applies payments.
Tracks bankruptcy filings and responds appropriately to particular cases.
Reporting:
Provides weekly reports of delinquency to loan officers and management.
Prepares weekly delinquency, foreclosure, recommended charge-offs, and recommended foreclosure reports for Loan Committee.
Produces a summary report of the most severe delinquent accounts for bank Trustees six times per year.
Prepares the loan portion of the call report for the accounting department on a quarterly basis.
Produces delinquent reporting to Investors and mortgage insurance companies.
Credit Reports/Customer Disputes:
Pulls credit reports for delinquent accounts.
Receives and resolves all customer disputes regarding credit report data.
Supervision and Leadership
Supervises daily workflow of Residential and Consumer collections of the Bank.
Supervises team responsible for calling, sending letters, setting up payment plans, and disbursing debt counseling forms to delinquent loan customers.
Provides performance feedback to team members, including regular coaching. Prepares performance evaluations; resolves employee relations issues.
Provides on-the-job training to all staff; ensures cross training efforts are taking place.
Monitors department workflow; creates and maintains monthly activity reports. Recommends adjustments to department manager.
Works closely with Loan Operations management to ensure that the entire department works efficiently and effectively. May include matrix supervision of shared staff.
Prepares management reports.
Perform additional duties as required.
QUALIFICATIONS:
Bachelor's degree or equivalent.
At least three or more years of loan servicing with at least one year in a supervisory capacity, preferably in a lending/banking or financial services collections environment.
Knowledge of Secondary Market/Investor collections, delinquency, and foreclosure workout requirements and procedures.
Ability to initiate, develop, and implement projects and procedures within Collections.
Basic knowledge of FCRA and FACT ACT procedures, regulations, state and federal regulations.
Ability to handle multiple tasks while maintaining strong attention to detail.
Strong interpersonal skills (written and oral).
Ability to deal with customers effectively.
Ability to meet deadlines.
Strong organizational and analytical skills.
Ability to develop and implement goals and objectives.
Must have cyber security awareness to protect the digital environment, the Bank, and customers.

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