VP of Loss Mitigation

Vice President Of Loss Mitigation

At Blue, we discover pathways to realize your possibilities! Our Vice President of Loss Mitigation is responsible for driving collection activities and loss mitigation strategies that meet Blue's strategic vision. This role will leverage data and advanced analytics to control losses while keeping the member experience at the forefront. Plans and directs the development of collections and loss prevention programs that provide maximum protection of the organization's assets at the most economical rates and ensures compliance with applicable regulations. Deploys strategies that ensure losses are managed appropriately using budget and forecasting tools. Ensures an effective apparatus is in place for the management and escalation of delinquent loans/accounts, including workout loans, extensions, and charge off recommendations. Is the senior liaison to legal counsel relating to delinquent accounts and related repossession activities. Creates accountability with third party service providers across the process and product lifecycle for collections and loss mitigations.

Major Duties and Responsibilities

• Directly responsible for improving and maintaining delinquency and charge-off handling. Utilize a strategic focus and historical experience in leading both internal and outsourced operations. Forecasts and identifies trends spearheading solutions to mitigate current and evolving trends that negatively might impact effective collections and loss mitigation efforts. Develops best practices and successful strategies, writes guidelines, and develops proposals to mitigate losses.
• Develops and leads the strategic direction of the Member Solutions team to develop and maintain collection activities and loss prevention measures. Drives effective leadership and performance management of teams through coaching, development, feedback, succession planning, and overall department workflow of activity.
• Creates accountability with third-party providers for service levels, efficiency and effectiveness of the company's lifecycle of collections and recovery activities. Communicates loss mitigation and collection requirements to stakeholders including leadership across the organization to ensure alignment. Assists in the development and delivery of loss mitigation awareness training for employees.
• Responsible for collection and loss mitigation policies and procedures. Responds to internal and external audit exceptions with action plans to correct deficiencies in policies and procedures.
• Must comply with all company policies and procedures, applicable laws and regulations, including but not limited to, the Bank Secrecy Act, the Patriot Act, and the Office of Foreign Assets Control.

Knowledge and Skills

Experience

Eight years to 10 years of similar or related experience, including preparatory experience leading outsourced and internal collections and recovery operations, including evidence of strategic planning and fulfillment of organizational goals.

Education/Certifications/Licenses

A college degree.

Interpersonal Skills

The ability to motivate or influence internal or external senior level professionals is a critical part of the job, requiring a significant level of influence and trust. Obtaining cooperation and agreement on important outcomes via frequently complex, senior level dialogues, as well as a professional level of written communication skills are essential to the position

FULL TIME POSITION

Starting Range: $128,000.00 - $160,000.00

Full Range: $108,018.66 - $203,472.65

Compensation may vary based on factors such as skill set, experience level, and candidate's location.

ADA Requirements

Physical Requirements

Perform primarily sedentary work with limited physical exertion and occasional lifting of up to 10 lbs. Must be capable of climbing / descending stairs in emergency situation. Must be able to operate routine office equipment including telephone, copier, facsimile, and calculator. Must be able to routinely perform work on computer for an average of 4-6 hours per day, when necessary. Must be able to work extended hours whenever required or requested by management. Must be capable of travel by automobile (as driver when necessary), commercial airlines, rental vehicles and public transportation and be able to lodge in public facilities. Must be capable of regular, reliable and timely attendance.

Working Conditions

Must be able to routinely perform work indoors in climate-controlled private office with minimal noise.

Mental and/or Emotional Requirements

Must be able to perform job functions independently and work effectively either on own or as part of a team; capable of planning and directing the work activities of others. Must be able to read and carry out various written instructions and follow oral instructions. Must be able to speak clearly and deliver information in a logical and understandable sequence. Must be capable of dealing calmly and professionally with numerous different personalities from diverse cultures at various levels within and outside of the organization and demonstrate highest levels of customer service and discretion when dealing with the public. Must be able to perform responsibilities with composure under the stress of deadlines / requirements for extreme accuracy and quality and/or fast pace. Must be able to effectively handle multiple, simultaneous, and changing priorities. Must be capable of exercising highest level of discretion on both internal and external confidential matters.

At Blue Federal Credit Union, we don't just accept difference we celebrate it! We are committed to providing an inclusive and welcoming environment for all our staff and members. Blue FCU is proud to be an equal opportunity workplace. We will consider applicants for this position without regard to any category protected by applicable federal, state or local law, including but not limited to race, color, religion, sex (including pregnancy), national origin, political affiliation, sexual orientation, marital status, disability, genetic information, age, membership in an employee organization, retaliation, parental status, military service, or other non-merit factors. All employment decisions are made based on qualifications, merit, and business need.