Credit Reporting Manager

VyStar Credit Union•Jacksonville, FL

4d•Onsite

About The Position

The Credit Reporting Manager is responsible for overseeing the credit bureau reporting of consumer loans and credit cards, ensuring compliance with federal regulations such as the Fair and Accurate Credit Transactions Act (FACT Act) and the Fair Credit Reporting Act (FCRA), as well as Metro II Credit Reporting Guidelines. This role involves performing research, responding to credit disputes and inquiries from various sources, and correcting loan information with credit reporting agencies and internal systems to ensure accuracy and compliance. The manager will periodically review loan portfolios, conduct special audits, and make recommendations for process enhancements. This position also serves as a liaison between staff, members, and vendors, handles complex member issues, and may manage employees responsible for credit reporting activities, ensuring high service levels and regulatory compliance. The role requires a strong understanding of lending regulations, servicing systems, and effective risk management practices.

Requirements

Knowledge of credit reporting regulations and guidelines is required.
Must possess and maintain a strong working knowledge of all state and federal regulations that impact all consumer lending products and credit reporting.
Requires a broad knowledge base of loan origination, underwriting and servicing software systems.
Must maintain knowledge of VyStar policies and procedures related to or that impact lending and credit reporting and coordinate the revision of existing policies and procedures or development of new documents in relation to consumer loan credit reporting.
Incumbent is expected to proactively manage monitoring, analysis and credit reporting dispute resolution methodologies to ensure best practices for credit reporting to meet regulatory requirements, making adjustments as necessary.
Responsible for responding to and tracking credit disputes in a timely manner.
Required to monitor credit reporting and servicing systems for the credit union’s consumer loans and credit cards to ensure accuracy of data being reported and regulatory compliance, in addition to adherence to internal policy and procedures.
Provides technical systems’ analytical assistance, problem resolution and expertise to support the consumer loan and credit card credit reporting functions.
Provides Vice President Consumer Loan Administration with information/reports on trends identified in connection with disputes received, concerns identified through monitoring and recommendations for enhancements.
Serves as the operational and technical liaison for staff, members and vendors to coordinate processes related to credit reporting, member service issues and resolution of errors.
Handles complex member problems related to credit reporting and responds to member inquiries.
Candidate must possess a minimum of three years prior lending experience preferably loan servicing and/or credit reporting and dispute response and resolution.
A minimum of 3 to 5 years’ supervisory or managerial and leadership experience in a financial institution is also required.
Must be familiar with all lending regulations, servicing systems, and Microsoft Office software with specific emphasis on the use of Word and Excel.
Experience in dispute resolution is required.
Strong verbal and written communications skills are necessary.
The ability to work effectively with all levels of staff throughout the organization is required.
Completion of high school and two years of college in a business-related field is required.
Work experience may be substituted for college education on a one-to-one basis.

Nice To Haves

Bachelor’s degree is preferred.
Experience with the Online Solution for Complete and Accurate Reporting (e-OSCAR) preferred.

Responsibilities

Oversees credit bureau reporting of consumer loans and credit cards for compliance with the Fair and Accurate Credit Transactions Act (FACT Act), and the Fair Credit Reporting Act (FCRA) and Metro II Credit Reporting Guidelines.
Performs loan and credit card research and ensures acceptable responses are provided in the timeframe required per applicable regulations to credit disputes and inquiries received from the credit repositories, directly from members and from credit union employees on behalf of members.
Responds to credit reporting disputes and inquiries received on behalf members from regulatory agencies or any third party the member may engage to assist.
Works with VyStar employees and attorneys as needed to provide loan documentation, information, and findings related to consumer loan disputes and legal cases.
Corrects loan information with the credit reporting agencies and in the servicing systems, if needed and as applicable, ensuring all reporting is accurate and in compliance with appropriate credit reporting guidelines.
Periodically reviews existing consumer loan and credit card portfolios for accuracy of data and credit reporting regulatory compliance in addition to adherence to internal policy and procedures that may impact proper credit reporting.
Provides Vice President Consumer Loan Administration reports outlining the results of the reviews and any recommended changes.
Conducts special audits on various segments of the portfolios to ensure accuracy of credit reporting.
Makes recommendations to enhance credit reporting and credit disputes processes if errors or potential problems are detected.
Monitors corrective actions and/or changes once implemented.
Coordinates with credit union employees and credit bureau representatives (for Equifax, Experian, TransUnion, Innovis and eOSCAR) on behalf of the credit union to resolve reporting concerns, monitor appropriate servicing for accuracy and timeliness of credit bureau reporting, implement enhancements, review new product or service offerings and ensure updated contracts are administered.
Provides the Metro II expertise to ensure the core consumer loan and credit card servicing systems parameters and settings are set up to be in compliance with Metro II credit bureau reporting.
May manage or oversee the assignments of employees responsible to respond to credit reporting inquiries and disputes or assist with credit reporting efforts.
Ensures these employees are delivering a consistent high level of quality service to all internal and external members.
Maintains excellent service levels and regulatory compliance by inspiring a “sense of urgency” and effective coordination of efforts and resources handling credit report related activities.
Monitors progress and holds follow-up meetings to discuss.
Takes additional action as necessary.
Removes invalid credit bureau inquiries caused when credit union staff erroneously or accidentally pull a credit report.
Performs other duties as assigned.
All employees and business units, as first line of defense, are expected to proactively help identify, assess, manage, and report risks within their domain of work.
To enhance a healthy risk culture and support our growth for good pillar, employees will maintain vigilance in safeguarding our operations while ensuring compliance with regulatory mandates.
The Risk team serves as the second line of defense by providing risk oversight and credible challenge whereas the Audit team serves as the third line of defense by providing risk assurance.
Incumbent is expected to demonstrate each of the following VyStar Excellence behaviors in performing the duties and responsibilities of their job: Focus - Focus your full attention by carefully listening to and observing client or member. Connect - Consistently be friendly and approachable. Demonstrate your care. Understand - Listen empathetically and ask questions (70%/30% rule). Counsel - Recommend solutions based on your member’s needs and objectives. Advance - Ensure that member’s expectations were exceeded. Verify necessary follow-up actions.