Loss Mitigation Manager

TEXELL CREDIT UNION•Temple, TX

19h•Onsite

About The Position

Texell, named one of the BEST credit unions to work for in the NATION by the Credit Union Journal, is seeking a Loss Mitigation Manager to work on-site at our headquarters location in Temple, TX. Texell has been honored with the Excellence in Lending Award from CUNA Mutual Group, the Desjardins Adult Financial Literacy Award from the Texas Credit Union League, the Best Bank/Credit Union by the readers of the Temple Daily Telegram, Best Credit Union by the readers of the Killeen Daily Herald and the Belton Journal and consistently earns the highest five-star, superior rating for financial soundness from Bauer Financial. As a Loss Mitigation Manager, you will: Oversee the collection efforts of a small call center environment. Your primary focus is on reducing outstanding receivables while managing staff, optimizing collection strategies, and ensuring the team is compliant in their actions. Ideal candidate will be detail-oriented, an individual with strong organizational and communication skills. Knowledge of working and implementation of professional practices within collections. Hire, train, and manage loss mitigation staff to attain corporate, department and individual loss mitigation related goals. Navigate complex business challenges. Oversee the execution of department tasks and procedures and monitor staff effectiveness and compliance: Tasks and procedures include, but are not limited to, making collection calls, collecting payments, identifying workout loans, settlements on charge offs, some post charge off collection activity. Understand bankruptcy, repossessions, credit reporting and credit report disputes, and processing or assisting members in filing claims for various collateral and loan protection products. Initiate contact with members and/or borrowers who owe money and/or who are delinquent in the repayment of their loans. Drive thee attainment of daily, weekly and monthly goals. Direct preparation of daily, weekly, and/or monthly reports on collection activity for management, maintain accurate files and reports on all collections activity and make journal entries. Monitor and facilitate filing of judgments in small claims court and district court either personally or by means of third-party attorney. Represent the credit union in various legal actions related to judgments, repossessions, bankruptcies, or other legal matters involving the Collections area or process. Skip-trace delinquent members as needed. Research delinquent accounts and use various programs/methods in locating as necessary. Monitor claim filing for GAP insurance, credit life, credit disability and total loss insurance claims. Work with third party providers to secure claim payments and/or payoffs. Report progress to members and handle issues. Authorize release of collateral on existing loans, extension of due dates, work out loans, etc. and monitor compliance. Respond to credit bureau disputes and issues from members and branch personnel. Verify monthly credit reporting files are uploaded to the credit bureaus and update information as needed. Take the lead on escalated calls, and complaints in various formats and respond appropriately. Perform other duties and responsibilities as required or assigned and assist others to complete tasks and work assignments.

Requirements

A minimum of 2 to 5 years of experience in leadership in financial services, with significant experience in collection-related functions.
Experience leading a team.
Strong organizational and communication skills.
Knowledge of working and implementation of professional practices within collections.
Ability to thrive in a fast-paced work environment.
Ability to Delegate.
Adaptability.
Strong technical proficiency.
A thoughtful and caring leadership style capable of inspiring staff members to do their best.
Emotional Intelligence and People-Centric Leadership.
A commitment to the highest ethical standards, and someone who always exhibits professional conduct.

Nice To Haves

A bachelor’s degree is preferred but not required. Will consider a two-year college degree or completion of a specialized course of study at a business or trade school.

Responsibilities

Oversee the collection efforts of a small call center environment.
Reduce outstanding receivables while managing staff, optimizing collection strategies, and ensuring the team is compliant in their actions.
Hire, train, and manage loss mitigation staff to attain corporate, department and individual loss mitigation related goals.
Navigate complex business challenges.
Oversee the execution of department tasks and procedures and monitor staff effectiveness and compliance.
Make collection calls, collect payments, identify workout loans, settlements on charge offs, and perform post charge off collection activity.
Understand bankruptcy, repossessions, credit reporting and credit report disputes, and processing or assisting members in filing claims for various collateral and loan protection products.
Initiate contact with members and/or borrowers who owe money and/or who are delinquent in the repayment of their loans.
Drive the attainment of daily, weekly and monthly goals.
Direct preparation of daily, weekly, and/or monthly reports on collection activity for management.
Maintain accurate files and reports on all collections activity and make journal entries.
Monitor and facilitate filing of judgments in small claims court and district court either personally or by means of third-party attorney.
Represent the credit union in various legal actions related to judgments, repossessions, bankruptcies, or other legal matters involving the Collections area or process.
Skip-trace delinquent members as needed.
Research delinquent accounts and use various programs/methods in locating as necessary.
Monitor claim filing for GAP insurance, credit life, credit disability and total loss insurance claims.
Work with third party providers to secure claim payments and/or payoffs.
Report progress to members and handle issues.
Authorize release of collateral on existing loans, extension of due dates, work out loans, etc. and monitor compliance.
Respond to credit bureau disputes and issues from members and branch personnel.
Verify monthly credit reporting files are uploaded to the credit bureaus and update information as needed.
Take the lead on escalated calls, and complaints in various formats and respond appropriately.
Perform other duties and responsibilities as required or assigned and assist others to complete tasks and work assignments.