Job DescriptionJob DescriptionSalary:
The AVP, Asset Management of Asset Management manages operational efforts to minimize losses for all product types, by managing delinquent accounts, payments and disposing of repossessed or foreclosed collateral while overseeing the day-to-day activities of the Asset team specialists. This candidate also provides exceptional member service and problem resolution throughout all phases of the collection process in keeping with Credit Union's core values while ensuring all responsibilities are executed in compliance with MIT FCU standard operating procedures, policies, as well as federal, state, and regulatory agency rules for collections, loss mitigation, and bankruptcy activities. He/she will provide leadership and direction with an emphasis on professional development and team building, while maintaining a positive and engaging work environment.
PRIMARY DUTIES AND RESPONSIBILITIES
* Lead, develop and mentor members of the team. Ensure team is trained to excel in their roles and grow within their careers
* Provide strong leadership to the collection team, fostering a team whose culture is centered around high performance, efficiency, and quality member service
* Develop and implement effective collections procedures and strategies to protect the Credit Union's assets and minimize losses. Proficient in loan investor loss mitigation requirements and applicable solutions
* Sustain optimal productivity through managing workload volumes, staffing, training needs, and identifying and implementing appropriate processes
* Identifies trends and develops process improvements and system enhancements to improve departments effectiveness.
* Oversee employee collection queues/activities including contacting delinquent accounts through appropriate means, taking appropriate actions to cure delinquencies, analyzing financial situations
* Manage third parties and legal relationships which include bankruptcies, repossessions, foreclosure, and recovery activities including debt settlement arrangements
* Timely management of repossession, foreclosure, repairs, and sale of all collateral surrendered for non-payment. Responsible for the management of OREO Property
* Establish performance goals and KPIs that align with the organizational objectives and efficacy of collections
* Empower others to make decisions, create changes, and contribute innovative suggestions for improvement.
* Manages the verification of vehicle titles to ensure documentation compliance, resolutions of title issues, and perfected titles.
* Perform duties related to hiring, staff development, and performance evaluations including your own self-assessment.
* Respond to all regulatory, internal, and external audit requests.
* Assists in the achievement of the strategic plan goals of the Credit Union.
Minimum Requirements for this position are:
* Bachelors degree or equivalent experience in collections/ lending industry
* 5 7 years directly related collections experience
* 3 years managerial experience to include a demonstrated ability to build effective teams
* Solid working knowledge of all stages of collections, insurance, and bankruptcy litigation
* Strong conflict resolution, motivational, analytical/problem solving and negotiation skills, familiarity with allowance for loan loss reserves and CECL
* Experienced with secondary market, Fannie Mae, Freddie Mac, and Federal Home Loan Bank guidelines.
* Thorough knowledge of Fair Debt Collection Practices Act
* In-depth knowledge of collections practices, regulations, and industry standards. Including repossessions, bankruptcy foreclosures, loss mitigation, delinquency management, and asset disposition.
* Knowledge of DNA Core and Collection Software Technology Systems is
* The ideal candidate for this role is forward thinking, has a strong background in collections/loss mitigation and has a proven record of operational excellence and is familiar with collection of these loan types including: residential student, vehicle and student
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