Default & Special Servicing Manager III

Fifth Third Bank • Cincinnati, OH

5d • Onsite

About The Position

Fifth Third Bank is seeking a Third level manager to oversee two or more Default and Special Servicing units for Consumer Collections. These units may include Bankruptcy, Foreclosure, Referral, Property Preservation, REO, Claims, Charge off, Collections Support, and Valuations. The role involves developing and implementing procedures to increase productivity, ensure compliance with government, investor, state, federal, and bank guidelines, and minimize financial losses. The manager will address complaints, resolve problems, and provide guidance and leadership to departmental personnel. This position requires broad knowledge of default practices and regulations, strong managerial competencies, and experience managing exempt and non-exempt personnel. The role emphasizes accountability for risk management, ethical conduct, and driving a positive customer experience. The manager is responsible for identifying, assessing, managing, monitoring, and reporting risks within the bank's risk appetite.

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.
• 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.
• Responsible for providing employees timely, candid & constructive performance feedback; developing employees to their fullest potential & provide challenging opportunities that enhance employee career growth; developing the appropriate talent pool to ensure adequate bench strength & succession planning; responsible for the hiring/selection process; recognizing & rewarding employees for accomplishments.
• Administers all human resource policies and procedures in a fair and consistent manner.
• Ensures that employees, equipment, and materials are used properly to maximize productivity.

Benefits

• Comprehensive benefits
• Differentiated compensation offerings
• Incentive compensation plan
• Extensive benefits programs designed to support the individual needs of our 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