VP & Retail Resolution Manager - Credit Resolution

Responsibilities

• Possesses and maintains a comprehensive knowledge of applicable state and federal regulations relating to collections, including but not limited to FDCPA, UDAAP, FCRA, SCRA as well as bankruptcy laws.
• Ensures that the Bank's policies and procedures are compliant.
• Ensures adherence to stated timelines throughout the collection, foreclosure and loss mitigation process to ensure CFPB compliance.
• Develops a working knowledge of mortgage loan servicing requirements and regulations including loss mitigation options.
• Ensures that all required actions/steps are taken by collection and support personnel prior to an account being assigned to legal counsel.
• Develops and implements credit administration strategies to minimize the Bank's potential loss.
• Discusses issues with supervisor, other management personnel, and/or legal counsel to develop strategies and solutions.
• Documents loan files appropriately with respect to the action taken and pertaining to each assigned account.
• Identifies and analyzes various types of collateral to determine an action plan for liquidation.
• Provides leadership for department personnel to determine proactive collection strategies including stalled accounts.
• Takes ownership of accounts which require management attention.
• Consults with management on loan specific situations that require further attention.
• Sets clear performance expectations, productivity standards, and quality benchmarks, while fostering a culture of professionalism, accountability and customer respect.
• Conducts work quality audits of random accounts for department personnel to ensure all accounts are worked in accordance with bank policy, including documentations, contact attempts and escalation procedures.
• Reviews and approves files for actions including repossessions, foreclosures, non-accrual and charge-off.
• Reviews loan modification and/or loss mitigation packages and supporting documents for completeness and, if appropriate, for compliance with CFPB servicing guidelines.
• Assists staff and borrowers in understanding and implementing workout options including discussion of modifications; assist staff with follow-up actions required of the borrower to obtain the loss mitigation and/or workout option.
• Ensures strict adherence by collection personnel to stated timelines throughout the collection and loss mitigation processes.
• Analyzes loan collateral files, identifies issues, develops the appropriate strategies and ensures follow-up on progress or promised actions.
• Develops and maintains department processes, policies and procedures.
• Provides first line risk management assessment
• Communicates and escalates collection issues through all levels of senior management.

Qualifications

• Bachelor's degree and a minimum of five years' experience in retail and/or residential mortgage banking or collections or equivalent combination of education and experience, required.
• A minimum of three years' experience in a management role is required.
• Department head experience is a plus.
• Strong knowledge of all applicable state and federal regulations including the CFPB guidelines is required.
• Prior experience in originating, servicing and/or collecting GSE accounts (SBA, Freddie Mac, FHA, Fannie Mae, etc.) is required.
• A thorough knowledge of credit underwriting and collection practices, and the ability to effectively negotiate appropriate strategies with borrowers is required.