Loss Mitigation Manager

POSTED: October 16, 2019
BUSINESS: PFCU
POSITION TYPE: Full-time
START DATE: Immediate Availability

Position Summary:

The Loss Mitigation Manager is responsible for overseeing the collection and control of loan (consumer, mortgage & commercial) and negative share accounts that are late, potentially delinquent, delinquent, or charged to the Allowance for Loan Loss GL.  Responsible for adequate resolution of accounts in repossession, bankruptcy or foreclosure and working with outside agencies and attorneys to resolve issues.  Responsible for managing the Credit Counseling function for Purdue Federal to ensure that members are adequately advised of alternatives regarding their credit. Responsible for all fraud investigations related to member and non-member accounts as well as ensuring member garnishments and levies are accurately processed.  Responsible for ensuring updated policies and procedures are maintained for all positions that is performed by departmental staff. Also responsible for maintaining morale and building team spirit within the Division and promoting good staff relations throughout the credit union.  Assures that all staff within the division are properly trained and updated as needed. Must comply with all SAFE Act registration procedures.                                                 

*Employees are expected to adhere to all rules and regulations applicable to this position, including but not limited to all policies and procedures pertaining to the Bank Secrecy Act.

Duties and Responsibilities (Essential Functions):

  • Loss Mitigation
    • Manage the Collection function with emphasis on accounts over 60 days
    • Delinquent includes consumer, mortgage and commercial accounts
    • Handle all bankruptcy files and charge off files
    • Appear in bankruptcy and civil court cases when necessary
    • Ensure that the collection system is current & up to date
    • Liquidate all repossessed collateral including foreclosures
    • Ensure accurate accounting and collection of accounts charged to reserve for loss GL
    • Oversee all fraudulent transactions investigations related to member and non-member transactions
    • Ensure that all garnishments and levies have been processed on a timely manner.
  • Credit Counseling
    • Manage & oversee Credit Counseling Function
    • Handle all collection recoveries including recommendations for workouts
  • Recommendations
    • Make recommendations to the Vice President of Operations for foreclosure, sale of collateral, and charge off. Charge off recommendations are sent and approved by the Board of Directors
    • Prepare monthly reports related to all collection functions; including charge off recommendations, classification of assets and NCUA quarterly reporting.
    • Periodically review and evaluate loss mitigation and charge off procedures used by the credit union
  • Personal & Team Development
    • Personal and team growth and development
    • Build department morale and team effectiveness by hiring, supervising, training and professionally developing staff
  • Project Management
    • Lead, direct or participate in the implementation of projects related to department responsibilities.
    • Coordinate team participation and successful completion of project goals

 Knowledge, Skill, and Ability Requirements:

  • Associates Degree
  • Minimum 3 to 5 years of similar experience
  • Competent computer skills
  • Ability to communicate, verbally and in writing, in a professional manner when dealing with employees, members, vendors and company contacts
  • Ability to follow the core values of honesty, integrity, mutual respect, pride and ownership.
Work Environment/Physical Demands:
  • This job operates in a clerical office setting. This role routinely uses standard office equipment such as computers, phone, photocopiers, filing cabinets and fax machines
  • This position requires manual dexterity, the ability to lift files and open filing cabinets
  • This position requires sitting, bending, stooping or standing as necessary

Benefits:

Purdue Federal offers competitive wages including an advancement program, excellent benefits, training and development opportunities, and employee appreciation.

It is the policy of Purdue Federal Credit Union not to discriminate against any employee or applicant for employment because of race, color, religion, age, sex, national origin, disability, marital status, genetic information, sexual preference, ancestry, student status, veteran status or arrest and conviction records or any other protected class not directly relevant to employment.

Application Instructions:

For further details or if you are interested in joining one of the “Best Places to Work in Indiana” where Honesty, Integrity, Mutual Respect, and Pride & Ownership are the core values, please complete our online application:  https://purduefedcareers.silkroad.com/

 

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