Manages Asset Recovery team and assists in the development of effective collection strategies that protect credit union assets and mitigate portfolio loss. Utilizes various data sources to proactively manage delinquency, charge-off and recovery.
• Proactively manage delinquency by maintaining delinquency rates, charge-off ratios and recoveries within established goals; disposes of collateral to minimize losses and monitors activities of external attorneys and collection agencies.
• Oversee the management of delinquent third party loans (NYUFCU, Progressive Taxi Medallions, Lendkey student loans, participation auto loans, etc.).
• Provide debt counseling to members, and negotiate payment options with members; negotiate settlements and reaffirmations with bankrupt members and dispose of collateral.
• Approve the initiation of foreclosure proceedings, repossession and assignment for third party collection. Monitor activities of outside attorneys and collection agencies.
• Represent the credit union in all court related matters (arbitrations, settlements, pre-foreclosure conferences). Review and execute legal documents leading up to the foreclosure event.
• Analyze and prioritize work queues to ensure effective collection results and minimize losses.
• Oversee the processing of deferments and payment changes.
• Monitor REO property maintenance and repairs. Determine and authorize the write down of credit union asset to FMV and approve listing of the asset for sale. Negotiate and approve incoming offers for purchase of the asset. Maintain productivity logs.
• Maintain UNFCU collection guidelines as well as regulations outlined by CFPB, Second Market Investors (FNMA/ FHLB) and NCUA.
• Participate in Loss Mitigation Committee.
• Provide strong leadership to sustain high performance and teamwork; provide effective coaching, development and performance assessment to direct reports.
TYPE & AMOUNT OF EXPERIENCE:
• Bachelor’s degree and 7-10 years of progressive experience managing delinquency rates, charge-off ratios and recoveries in a financial services organization
• 5+ years of management experience
• Strong Microsoft Office skills, particularly with Excel
• Strong analytical and research skills
• Ability to analyze multiple data sources to identify threats and design and recommend responsive organizational strategies to reduce delinquency
• Solid understanding of the bankruptcy code and must be familiar with a variety of the field’s concepts, practices and procedures
• Working knowledge of Dodd Frank-Consumer Financial Protection Bureau compliance requirements
Leading the organization:
• managing change
• solving problems and making decisions
• managing politics and influencing others
• taking risks and innovating
• managing the work
• enhancing business skills and knowledge
• understanding and navigating the organization
• demonstrating ethics and integrity
• displaying drive and purpose
• exhibiting leadership stature
• increasing your capacity to learn
• managing yourself
• increasing self-awareness
• developing adaptability
• communicating effectively
• developing others
• valuing diversity and inclusion
• building and maintaining relationships
• managing effective teams and work groups
• Standard office conditions
In addition to any specific job requirements in connection with Bank Secrecy Act and/or OFAC (BSA), employee must (i) be aware of BSA matters commensurate with the position; (ii) report any suspicious activity to the manager or compliance department; and (iii) satisfactorily complete any required BSA training.