Loan Workout Manager jobs in Carson, CA

Description

The Collections & Loan Servicing Manager will report to the VP of Lending and will effectively manage and direct ILWU Credit Union's collections and loan servicing activities for the consumer, home equity and mortgage loan portfolios. Primary focus is to control delinquency and minimize credit union losses while ensuring accounts are collected and maintained appropriately according to Federal regulations and Credit Union policy and procedures. Reviews and refines strategies and procedures for all stages of collection activities. Regularly evaluates loan servicing operations and processes. Presents recommendations to make the department more efficient using technology or redistribution of duties.

Essential Responsibilities & Duties

1. Plans, organizes, directs, and controls the activities of the staff and the day-to-day operations in collections including but not limited to:
   1. Effective and timely review, member contact, and resolution of past due loans, while protecting the Credit Union's assets, financial interest, and reputation.
   2. Identifies effective solutions on past due accounts that benefit both the borrower and the Credit Union.
   3. Manages real estate loan default and foreclosure process to ensure compliance while protecting Credit Union’s lien position.
   4. Administers the repossession of collateral and provides for disposition of repossessed property, as provided by law.
   5. Submits appropriate loan modification, workout, and deferment requests for consideration.
   6. Reviews and recommends action on bankruptcy accounts.
   7. Identifies accounts requiring legal action or collection agency and coordinates the administration with the attorneys and third-party contractors.
   8. Oversees credit bureau dispute process; maintains accurate credit reporting.
2. Plans, organizes, directs, and controls the activities of the staff and the day-to-day operations in loan servicing including but not limited to:
   1. Supervises loan payoff and collateral release process.
   2. Ensures regular escrow disbursements are completed; prepares annual escrow analysis to include member notices.
   3. Lien tracking, processing, and member/dealer follow-up for consumer loans.
   4. Maintains an insurance tracking system for collateralized loans with effective monitoring to determine appropriateness of force placing insurance (CPI).
   5. Oversight of Payment Protection and ancillary loan products such as GAP and mechanical repair warranty.
3. Updates and maintains all departmental Procedures. Recommends Policy revisions based on knowledge of regulatory or industry changes. Ensures staff compliance with established operating Policies and Procedures.
4. Creates, monitors, and analyzes reports to track results, observe trends and mitigate risk, as well as to observe staff performance and service levels.
5. Provides coaching, counseling, training, and development for department employees while offering on-going support to include handling escalated member calls.
6. Resolution of member service issues in a timely and accurate manner.
7. Manages the collections and mortgage servicing systems to ensure statements and notices are timely and compliant.
8. Manage vendor relationships.
9. Assists auditors with collection and servicing questions.
10. Performs specific and delegated duties as assigned.

Qualifications

Job Qualifications

1. Requires an equivalent of a high school level of language, math, and reasoning skills.
2. Minimum 5 years directly related experience in a collections or loan servicing department within a financial institution, with a minimum of 2 years supervisory experience.
3. Detailed knowledge of mortgage and consumer collection activities, skip tracing, repossession procedures, truth-in-lending requirements, bankruptcy proceedings, small claims activities, and credit reporting laws and requirements as would normally be obtained by four or more years of similar activities.
4. Knowledge of Fannie Mae and Freddie Mac investor reporting guidelines preferred.
5. Ability to develop and present policy and procedure recommendations, as well as the ability to write procedures, guidelines, and instructions.
6. Ability to effectively delegate and direct subordinates to complete tasks along with working knowledge of management techniques to enhance subordinate productivity.
7. Effective analytical and problem-solving skills.  Ability to research and analyze data, establish facts, draw valid conclusions, and devise solutions.
8. Proficiency in personal computer software usage in the Windows environment.  Ability to learn new software applications quickly.
9. Excellent verbal, written and interpersonal communication skills.  Ability to express oneself clearly and concisely, both orally and in writing. 
10. Excellent negotiation skills.  Ability to handle complaints and confrontational issues.  Must possess the ability to remain calm, patient, objective, and professional when presented with difficult situations.
11. Excellent organization and time management skills and the ability to handle multiple projects, meeting required deadlines.
12. Self-motivated and self-directed.  Ability to work independently and assume accountability for area of responsibility.
13. Ability to maintain accuracy and promptly complete duties with a high degree of attention to detail.
14. Ability to maintain confidentiality regarding Credit Union records and data.

Work Environment

Most work is performed in an air-conditioned and heated office environment with exposure to basic office equipment and typical moderate office noise.

Physical Demands

The physical demands listed and charted here are representative of those that must be met by an employee to successfully perform the essential functions of this job.

On-the-job time spent in the following physical activities.

Required weight be to be lifted or force to be exerted while performing job.

Special vision requirements while performing job.