Retail Resolution Manager

SUMMARY:

This position is responsible for managing the collection activities and workflow for both active and charged off loans within the bank’s retail (consumer) loan and residential mortgage portfolios. The primary duties are providing guidance and leadership to department personnel as well as the overall administration of a portfolio of delinquent consumer, personal and residential real estate loans while strictly adhering to all bank, state and federal policies and regulations. The position will work closely with Bank management, applicable staff and legal counsel to protect the Bank's interests and ensure compliance with all applicable laws and regulations.

SUPERVISORY RESPONSIBILITIES:

May be responsible for directly supervising employees in the designated functional area.  Carries out supervisory responsibilities in accordance with the organization's policies and applicable laws. Responsibilities include interviewing, hiring, and training employees; planning, assigning, and directing work; appraising performance; rewarding and disciplining employees; addressing complaints and resolving problems.   

ESSENTIAL DUTIES AND RESPONSIBILITIES: To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed below are representative of the knowledge, skill, and/or ability required. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

Possesses and maintains a comprehensive knowledge of applicable state and federal regulations relating to collections, including but not limited to FDCPA, UDAAP, FCRA, SCRA as well as bankruptcy laws.

Ensures that the Bank's policies and procedures are compliant.

Ensures adherence to stated timelines throughout the collection, foreclosure and loss mitigation process to ensure CFPB compliance.

Develops a working knowledge of mortgage loan servicing requirements and regulations including loss mitigation options.

Ensures that all required actions/steps are taken by collection and support personnel prior to an account being assigned to legal counsel.

Develops and implements credit administration strategies to minimize the Bank's potential loss.

Discusses issues with supervisor, other management personnel, and/or legal counsel to develop strategies and solutions.

Documents loan files appropriately with respect to the action taken and pertaining to each assigned account.

Identifies and analyzes various types of collateral to determine an action plan for liquidation.

Provides leadership for department personnel to determine proactive collection strategies including stalled accounts.

Takes ownership of accounts which require management attention.

Consults with management on loan specific situations that require further attention.

Sets clear performance expectations, productivity standards, and quality benchmarks, while fostering a culture of professionalism, accountability and customer respect.

Conducts work quality audits of random accounts for department personnel to ensure all accounts are worked in accordance with bank policy, including documentations, contact attempts and escalation procedures.

Reviews and approves files for actions including repossessions, foreclosures, non-accrual and charge-off.

Reviews loan modification and/or loss mitigation packages and supporting documents for completeness and, if appropriate, for compliance with CFPB servicing guidelines.

Assists staff and borrowers in understanding and implementing workout options including discussion of modifications; assist staff with follow-up actions required of the borrower to obtain the loss mitigation and/or workout option.

Ensures strict adherence by collection personnel to stated timelines throughout the collection and loss mitigation processes.

Analyzes loan collateral files, identifies issues, develops the appropriate strategies and ensures follow-up on progress or promised actions.

Develops and maintains department processes, policies and procedures.

Provides first line risk management assessment

Communicates and escalates collection issues through all levels of senior management.

Other duties as may be assigned.

OTHER REQUIREMENTS:

Banking is a highly regulated industry and you will be expected to acquire and maintain a proficiency in the Bank's policies and procedures, and adhere to all laws, rules and regulations that are applicable to your conduct and the work you will be performing.  You will also be expected to complete all assigned compliance training in a timely manner.

Strong knowledge of residential properties and consumer collateral.

Strong knowledge of foreclosure, repossession and bankruptcy processes.

Ability to analyze the most complex financial and legal documents.

Ability to understand complex financial transactions and provide guidance or alternatives, as appropriate.

Ability to effectively communicate acceptable credit structures to lenders and customers.

Excellent written communication skills.

Travel and occasional overnight stay may be required.

Ability to read, analyze, and interpret common scientific and technical journals, financial reports, and legal documents.

Ability to respond to common inquiries or complaints from customers, regulatory agencies, or members of the business community.

Ability to write speeches and articles for publication that conform to prescribed style and format.

Ability to effectively present information to top management, public groups, and/or boards of directors.

Ability to work with mathematical concepts such as probability and statistical inference, and fundamentals of plain and solid geometry and trigonometry.

Ability to apply concepts such as fractions, percentages, ratios, and proportions to practical situations.

Ability to define problems, collect data, establish facts, and draw valid conclusions.

Ability to interpret an extensive variety of technical instructions in mathematical or diagram form and deal with several abstract and concrete variables.

Proficient in Microsoft Office products including Excel, Word and Outlook.

Ability to learn other banking software as needed.

Qualifications:

Bachelors degree and a minimum of five years’ experience in retail and/or residential mortgage banking or collections or equal education and/or experience, required.

A minimum of three years’ experience in a management role is required.

Department head experience is a plus.

Strong knowledge of all applicable state and federal regulations including the CFPB guidelines is required.

Prior experience in originating, servicing and/or collecting GSE accounts (SBA, Freddie Mac, FHA, Fannie Mae, etc.) is required.

A thorough knowledge of credit underwriting and collection practices, and the ability to effectively negotiate appropriate strategies with borrowers is required.