VP, Loss Mitigation

Maine Savings Federal Credit Union•Hampden, ME

1h•Hybrid

About The Position

The Vice President of Loss Mitigation provides strategic leadership and operational oversight for all loss mitigation programs aimed at reducing credit losses, improving member outcomes, and ensuring regulatory compliance. This position is responsible for shaping policy, driving performance, optimizing processes, and leading a high-performing team across credit resolution, asset recovery, and member workout solutions. You can also expect to partner cross functionally with other credit union functions and divisions to create sustainable mitigation strategies that protect the organizations financial assets while maintaining a member centric approach.

Requirements

At least ten years of experience in loss mitigation, credit risk, collections preferred.
A minimum of five years of consistent and steady leadership growth.
A four-year degree or commensurate experience; or completion of a specialized certification or licensing, or completion of specialized training courses.

Responsibilities

Develops and executes loss mitigation strategy and programs aligned with organization’s risk appetite and financial goals.
Drives continuous improvement initiatives to reduce charge-offs, defaults, and asset loss severity and enhance recovery process.
Identifies and implements strategies that balance member assistance with loss reduction.
Leads, mentors, and develops the credit resolution team in the oversight of loss mitigation, collections, and workout operations.
Collaborates with cross functional teams to streamline processes and enhance operational efficiency.
Ensures efficient case pipeline management, resource allocation, and timely resolution of member cases.
Ensures compliance with federal, state, and industry regulations.
Represents the credit union in regulatory exams and audits.
Performs additional duties as requested and required.