Leads a well-established Asset Recovery department; assists in the development of effective collection strategies that protect UNFCU’s assets and mitigate portfolio loss, utilizes various data sources to proactively manage delinquency, charge-off and recovery. Provide team building and motivational staff support.
• 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).
• 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.
• Provide strong leadership to sustain a high performance, teamwork culture and provides effective coaching, development and performance evaluations to direct reports.
• Oversee 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 (ex: FNMA/ FHLB), NCUA.
• Participate in Loss Mitigation Committee.
TYPE & AMOUNT OF EXPERIENCE:
• Bachelor’s degree and 5-7 years of proactively managing delinquency rates, charge-off ratios and recoveries in a financial services organization
• Strong PC skills, including knowledge of spreadsheet software and Microsoft Office
• Strong analytical and research skills
• Able 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
Leading the self:
• 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 teams
• valuing diversity and inclusion
• building and maintaining relationships
• managing effective teams and work groups
• motivate staff engagement
• 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.