Director of Loan Servicing and Collections

Employer
Congressional Federal Credit Union
Location
Oakton, VA
Posted
Nov 23, 2021
Closes
Dec 04, 2021
Ref
237799303
Hours
Full Time
Direct and manage the development and quality of the credit union's Servicing and Collections department, which includes overall management of the loan servicing for the credit union's residential and consumer lending loan portfolio. Provide strategic direction and vision to senior management and business units in the planning and implementation of the credit union's loan servicing and default management operations. Direct and manage the preservation of the credit union's assets and minimize charge offs and losses by controlling delinquent loan payments, utilizing loss mitigation techniques, and/or default management strategies and recovering and disposing of repossessed collateral.Essential Functions & ResponsibilitiesDrives the strategic planning process for developing improvements in overall loan servicing operations. Strategizes with senior management and business units to design and implement appropriate loan servicing operations through analysis of portfolio performance, trending and risk management practices and techniques. Develops, tracks, and maintains department's budget. Oversees and leads the servicing and collections staff to achieve servicing performance targets and goals. Regularly engages in talent acquisition, development, retention, and recognition, and cultivates an environment that supports communication, diversity, team work and performance. Models the way with regard to leadership by encouraging the heart, inspiring a shared vision and enabling others to act.Oversees the servicing and collections standards, policies, and procedures and ensures they commensurate with the lending compliance environment. Provides management with analyses of credit union loan portfolio and department performance, and makes recommendations to improve financial impact productivity and efficiency. Create and maintain the credit union's loan servicing default management policies and procedures that comply with current regulatory requirements and activities and lending standards including but not limited to DCRA, CFPB, HMDA, RESPA, Reg Z, SCRA, TILA, UDAAP.Manages and oversees multiple vendor loan subservicing relationships and the performance of each, relating to mortgage servicing, investor reporting, and student lending. Interrelated responsibilities include delinquency monitoring and reporting, loss mitigation strategies, system maintenance, and preparation and monitoring of pertinent reports.Responsible for research, development, implementation and ongoing oversight of loan servicing related projects and programs through analysis and use of technology systems. Facilitates streamlined workflows to minimize expenses, reduce losses and improve service levels. Analyzes external market and industry trends as well as loan data to identify trends and makes recommendations for managing and mitigating loan losses.Creates an engaged workforce and environment that ensures quality service is provided to all members, employees and businesses. Ensures escalated disputes and complaints with members are resolved in a timely manner, seeking a positive solution without placing the credit union's assets at risk.Provides oversight and manages the various quantitative aspects of the loan servicing department including budget goals, loan delinquency and charge off metrics and other financial and risk management impacts.ExperienceMust have a minimum of 10 years of progressively responsible, managerial and "hands on" experience in a wide range of consumer lending and mortgage servicing functions in a large credit union, bank or other relevant financial services organization. Experience in sub servicing is a substantial plus. Thorough knowledge of consumer and real estate loan servicing and products including all relevant state and federal regulations and procedures affecting loan servicing and default management.EducationA Bachelor's Degree in Business or related field. Masters's degree is a plus.Interpersonal SkillsThe ability to motivate or influence others is a material part of the job, requiring a significant level of diplomacy and trust. Obtaining cooperation (internally and/or externally) is an important part of the job. Outside contacts become important and fostering sound relationships with other entities (companies and/or individuals) becomes necessary.Other Skills1. Experience within a financial service institution with extensive knowledge of mortgage servicing, investor guidelines and federal regulations as it pertains to mortgage servicing.2. Excellent understanding and knowledge of mortgage and consumer origination, servicing, collection and loss mitigation processes and regulations.3. Strong planning and organization skills with an ability to establish strategic assessment skills and proven mathematical aptitude.4. Ability to synthesize information across multiple divisions with excellent analytical skills to document diverse and changing business activities, recognize and identify internal risks and control points and deficiencies and appropriatesolutions.5. Excellent interpersonal skills to include oral and written communications.Physical Requirements:Congressional Federal is committed to working with its employees to reasonably accommodate them with the physical aspects of the position. The following list outlines the physical considerations that are normally encountered in this job.Ability to communicate with staff, members and the public.Ability to operate standard office equipment.Must be able to sit for extended periods of time and to occasionally lift and move items up to 20 lbs. in weight.Total Rewards:Congressional Federal offers a comprehensive benefits package including but not limited to health and dental, 401k, vacation and sick pay, 10 paid holidays, tuition reimbursement, flexible spending programs and work/life balance.EOE/M/F/D/V/SOEqual Opportunity Employer/Protected Veterans/Individuals with DisabilitiesThe contractor will not discharge or in any other manner discriminate against employees or applicants because they have inquired about, discussed, or disclosed their own pay or the pay of another employee or applicant. However, employees who have access to the compensation information of other employees or applicants as a part of their essential job functions cannot disclose the pay of other employees or applicants to individuals who do not otherwise have access to compensation information, unless the disclosure is (a) in response to a formal complaint or charge, (b) in furtherance of an investigation, proceeding, hearing, or action, including an investigation conducted by the employer, or (c) consistent with the contractor's legal duty to furnish information. 41 CFR 60-1.35(c)