Loss Mitigation Manager at Civic Credit Union

Raleigh, North Carolina, United States -

Full Time

Start Date

Immediate

Expiry Date

21 Aug, 26

Salary

0.0

Posted On

23 May, 26

Experience

5 year(s) or above

Remote Job

Yes

Telecommute

Yes

Sponsor Visa

Skills

Loss Mitigation, Delinquency Management, Consumer Collections, Commercial Collections, Real Estate Collections, Credit Analysis, Financial Statement Analysis, Bankruptcy Law, Consumer Law, Workforce Management, Loan Modification, Risk Assessment, Collateral Recovery, Compliance, Leadership, Portfolio Evaluation

Industry

Financial Services

Description

Description 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. ABOUT THE POSITION Loss Mitigation Manager is responsible for operational management of the Loss Mitigation Team and its 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 Manages early and late-stage delinquency management efforts by ensuring Loss Mitigation Team monitors loan accounts and identifying members who are at risk of becoming delinquent. Oversees and provides leadership guidance to Loss Mitigation Team Leaders in accordance with organizational strategy and principles. Provides primary oversight of Loss Mitigation workforce management and scheduling. Recommends strategic collection efforts and assists in operational implementation of strategy. Assists in creating and maintains oversight of all front end collection efforts to ensure team goals and KPIs are met. Works with the Loss Mitigation team to approve escalated repayment plans and settlements. Approves strategic loan modifications and workout plans for approval. Provides primary escalation assistance to active and charged-off accounts. Ensures the accurate documentation of all member interactions, payment agreements, and actions plans in the core collection system. Provides members with information on financial education resources and tools to help them manage their finances and avoid future delinquencies. Fosters a culture of cross-team collaboration and bench-strength within the Loss Mitigation Team, including functions of escalated collection actions and Default Management. Maintains and trains knowledge of Loss Mitigation Team practices and procedures to best aid in cross-team communication. Serves as 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. Collaborates as necessary with other internal business units and resources to ensure a coordinated approach to loss prevention. Partners with the AVP of Risk Assessment and Loss Mitigation in reviewing reports on delinquency trends, member interactions, and recovery efforts. Ensures all activities are in compliance with federal and state regulations, as well as Credit Union policies, guidelines, and procedures. Takes ownership for actions, decisions, and results; openly accept feedback and demonstrate both the willingness and ability to improve. JOB QUALIFICATIONS Here are a few skills you MUST have to be qualified for this position: Minimum 7 – 9 years’ experience in Consumer, Commercial, and Real Estate collections, or combination of experience and advanced education. Minimum 1-3 years of experience in a lead or leadership role in financial services. Practical experience analyzing consumer credit reports, income statements, and credit principles. Demonstrated understanding of accounting principles and business financial statements and tax returns. Demonstrated experience with credit procedures, policies, regulations and laws, in addition to knowledge of bankruptcy and consumer law. Ability to function in a Consumer business office environment and utilize standard office equipment including but not limited to: PC, copier, telephone, etc. Ability to lift a minimum of 25 lbs. (file boxes, computer). Travel required on occasion. Here are a few qualities we’d LIKE for you to have to make you more suited for this position: BA/BS in Business Management or related field. 1 – 3 years of experience in credit underwriting, portfolio evaluation, or administration. Prior escalated collections experience including repossession, foreclosure, and small claims management. CONTACT US 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

Responsibilities

The Loss Mitigation Manager oversees the operational management of the Loss Mitigation Team to proactively manage delinquent accounts and mitigate loan losses. This includes providing leadership to team leaders, approving repayment plans, and ensuring compliance with federal and state regulations.