Retention Solutions Manager/Hybrid

Summary

• Preserves member retention of loan collateral and member relationship when associated Credit Union products are non-performing, or at risk of becoming non-performing.

Key Responsibilities

• Provides oversight and direction to staff including hiring; communicating expectations; planning, monitoring and evaluating performance; coaching, counseling, and developing employees; recommending compensation actions, and coordinating and enforcing systems, policies, and procedures.
• Develops & maintains policies and procedures for Retention Solutions in consideration of Fair Lending regulations, and Troubled Debt Restructuring principles.
• Ensures Continuity of Contact, Single Point of Contact, and Non-performing Loan regulations are met.
• Conducts analysis of loan and deposit products in an effort to identify root causes of late payments or negative deposit accounts, respectively, resulting in charge-off. Uses analysis to inform campaigns educating members away from risky deposit product use, and late loan payments.
• Oversees distribution, follow-up, reception, and decision of member application for hardship assistance, and repayment plans related to deposit restitution, and manages the risk rating of these products
• Determines retention eligibility by documenting appropriate approval accordingly for all loan retention solutions
• Collaborates with Liquidation Manager during the Foreclosure process through sheriff sale or loss mitigation options
• Represents the Credit union in Arbitration and Litigation Proceedings pertaining to charge off consumer debt, judgements, bankruptcy, and foreclosure
• Ensures accurate credit reporting is conducted in consideration of various retention solutions and bankruptcy filing. Oversees timely resolution of credit disputes to comply with the Fair Credit Reporting Act.
• Confirms accuracy and timeliness of 1099 C tax forms to borrowers, and 1099 data delivery to the IRS.
• Refers member application for hardship assistance to Liquidation Solutions when application is not eligible for retention.
• Oversees referrals to Counsel for Bankruptcy, Proof of Claim filing, and Decedent proceedings for performing loans.
• Manages vendor relationships, contract review, and associated due-diligence.
• Provides statistical reports for Organizational Management to include overall retention metrics to analyze patterns and trends.
• Identifies opportunities for improving business processes, mitigating potential credit impairment, and enhancing employee engagement through use of efficiencies, collaboration methodologies, service bureau resources, and technology solutions.
• Responsible for adherence to operational controls including compliance with regulations and policies such as the Bank Secrecy Act and the Office of Foreign Assets Controls to ensure the safety and soundness of FMFCU.

Education/Experience

• Bachelor's degree in finance related discipline or an equivalent combination of formal training and experience
• Four years of experience in the area of collection
• Minimum of 3-5 years loss mitigation in banking or credit union space

Other Qualifications

Strong demonstrated abilities required:

• Customer/Member Service
• Interpersonal/Team Player
• Presentation Skills
• Motivated/Works Independently
• Supervisory Skills
• Sales/Negotiation Skills
• Analytical/Problem Solving
• Organizational Skills
• Project Management Skills
• Detail Oriented
• Verbal/Written Skills
• Microsoft Office

Also required:

• Must maintain confidentiality

Physical Requirements

• The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. While performing the duties of this job, the employee is regularly required to talk, hear, type and sit. This position requires standing, walking, bending, kneeling, stooping, crouching. The employee is also regularly required to sit/stand for long periods of time. The employee may occasionally lift and/or move items up to 15 pounds. Specific vision abilities required by this job include close vision, distance vision, color vision, peripheral vision, depth perception and ability to adjust focus.

Other Duties

• This job description is not intended to be an all-inclusive list of responsibilities required for this job. Responsibilities may be assigned or changed at any time.

Equal Employment Opportunity

• FMFCU/SFN is an equal opportunity employer and prohibits discrimination against any applicant or employee based on any legally-recognized basis, including, but not limited to: race, color, religion, sex (including gender identity, sexual orientation, and pregnancy), age (40 and over), national origin or ancestry, physical or mental disability, genetic information, veteran status, uniformed service member status or any other status protected by federal, state or local law.