Default & Special Servicing Manager III

Fifth Third Bank • Cincinnati, OH

7d • Onsite

About The Position

Third level manager of Two or More of the following Default and Special Servicing units for Consumer Collections: Bankruptcy, Foreclosure, Referral, Property Preservation, REO, Claims, Charge off, Collections Support, Valuations. Under minimal supervision, responsible for the development & implementation of procedures used to increase productivity & ensure compliance with government, investor, state, federal & bank guidelines to minimize financial losses to the Bank. Addresses complaints from vendors, customers & employees, resolves problems & provides guidance & leadership to departmental personnel. Role requires a broad level of knowledge about default practices and regulations and a high level of managerial competencies. Staff managed consists of exempt and nonexempt personnel.
Responsible and accountable for risk by openly exchanging ideas and opinions, elevating concerns, and personally following policies and procedures as defined. Accountable for always doing the right thing for customers and colleagues, and ensures that actions and behaviors drive a positive customer experience. While operating within the Bank’s risk appetite, achieves results by consistently identifying, assessing, managing, monitoring, and reporting risks of all types.

Requirements

• College degree or Minimum of 10 years of experience in default and special servicing functions as defined above.
• Minimum of 5 years of management experience with increasing responsibility in a high volume operation.
• Proficiency in multiple areas of Default Servicing (e.g., foreclosure, bankruptcy, claims, preservation, etc.)
• Advanced knowledge in the principles of credit lending and risk management, collections and default servicing.
• Strong leadership skills, initiative, detail orientation, analytical, and decisive decision-making skills.
• Ability to work in a team environment, presenting a professional image and commanding the respect of staff, peers, and senior management.
• Thorough knowledge of investor guidelines & regulations relative to respective business unit.
• Intermediate computer skills in Microsoft products, such as Word, Excel, PowerPoint, Access and Outlook and servicing applications, default and servicing technology (i.e. MortgageServ).
• Ability to multi-task and be flexible.
• Advanced knowledge of laws, best practices and investor guidelines for the respective area of management. (Example: Bankruptcy management would require knowledge of the Federal bankruptcy code and laws.)
• Effective organizational, leadership and change management skills.

Responsibilities

• Responsible for the recruiting, hiring and training of employees, procedures and department goals.
• Utilizing applicable technologies to define & systematically organize the work flow.
• Organize monthly trends & past standard, exception and KRI reports & provide to staff in a regular and timely manner.
• Each functional area manager may have unique and specific approval authorities related to their respective LOB. (E.G., repairs, charge off, bidding, negotiations, etc).
• Monitor daily workflow to ensure timely completion of tasks. Maintains daily, weekly and monthly reporting of departmental activity
• Respond to monthly Quality Control assessments to ensure a compliance ratio of at least 90%.
• Perform regular reviews of accounts in applicable process to insure compliance with departmental policies & procedures & provide feedback & training to subordinates.
• Review & approve recommendations for key decisions and milestones (E.G.: Values, charge off, bidding instructions, contract prices, etc.)
• Ensure that processes & procedures support the minimization credit loss & out-of-pocket expenses.
• Providing support to local & outside counsel, internal and external customers: assist in litigation matters, attorney inquiries, & consult with counsel on escalated borrower issues.
• Assist with the development, enhancement & implementation of departmental policies & procedures; Identify and implement best practices for the Bank.

Benefits

• Comprehensive benefits and differentiated compensation offerings
• Eligible to participate in an incentive compensation plan
• Extensive benefits programs designed to support the individual needs of employees and their families, encompassing physical, financial, emotional and social well-being.

What This Job Offers

• Job Type: Full-time
• Career Level: Manager
• Education Level: Associate degree