Manager, Early Stage Collections & Mitigation
1 month ago
New York
Job Description About MCU: At Municipal Credit Union, we believe that an incredible culture helps create a happy and motivated team that works hard to achieve the best results for themselves and their members. For more than 100 years, MCU has provided affordable financial products and convenient services to a membership base that is now comprised of over 600,000 individuals. With each new generation we have the pleasure of interacting with, we maintain the credit union promise of people helping people. Our Mission: To help hard-working New Yorkers build better tomorrows Our Vision: Be New York's most loved financial institution by helping our members build their best financial futures Overview: The Early Stage Collection and Mitigation Manager is responsible for the collections and loss mitigation activities on all accounts that enter early stage delinquency areas of over site may include Collections, Loss Mitigation, Claims or Default Administration functions. The Early Stage Collections and Mitigation Manager identifies productivity and efficiency opportunities, as well as portfolio trends where additional focus is needed and ensures appropriate management controls are in place for all departmental tasks and functions. This position is responsible for executing daily strategies in a fast-paced environment, under short deadlines, while maintaining a positive a productive work environment. Responsibilities: Specific duties include, but are not limited to, the following: • Indirectly manage outsource vendor relationship., • Liaises with vendor relationship managers and team leaders and Director of collections, • Establish procedures, schedule collection duties and train collections staff., • Lead solicitation efforts for early intervention to reduced delinquency, • Ensure loss mitigation timeline are meet in accordance with CFPB guidelines, • Engage in efforts to prevent foreclosure through loan modifications, repayment plans, short sales, or Deed in Lieu., • Responsible for establishing initial contact with homeowner via telephone or written correspondence., • Must be able to communicate effectively through verbal and written means., • Arrange for contractual services relating to property inspectors, appraisers, real estate agents, etc., who may be involved in the inspection or evaluation of the property., • Reviews and negotiates liens and judgements to help clear the title and protect the homeowner and investors interest in the property., • Develop policy and procedure to analyze and underwrite the borrower’s income through review of documents which include, but are not limited to, financial statements, tax returns, credit reports, and collateral appraisals to determine and recommend the most feasible and appropriate solution for the homeowner., • Oversee and manage delinquent and charged off accounts., • Assign accounts to staff and outside agencies., • Develop the necessary reports to properly manage all facets of Loss Mitigation, Bankruptcy, and Disability claim filings for daily, weekly and month end reporting., • Maintain communication with staff and others to ensure effective departmental operations., • Ensure compliance with collection policy and procedure internally and externally., • Oversee the preparation and mailing of delinquent account and discrepancy notices., • Work with Director of Collections to establish repayment terms and repossession., • Authorize accounts for legal action., • Consult with Legal Counsel prior to legal action., • Oversee process including bid acceptance, sales closing, and maintenance of related records., • Prepare proposed accounts for charge-off monthly to the Director of Collections and Loss Mitigation., • Prepare delinquent account status reports, departmental/collection activity and other operational reports., • Manages the vendor relationships with PSCU and BGO., • Establish departmental goals and conduct supervisor’s performance reviews., • Prepare productivity reports and incentive plans., • Recommend changes in policy and procedure to assist in the achievement of departmental goals., • Continue to manage projects as assigned by the Director of Collections., • Other duties as assigned by the Director, • Appropriately assess risk when business decisions are made, include but not limited to compliance and operational risk. Demonstrate consideration for MCU’S reputation as well as our members, by driving compliance with applicable laws, rules and regulations, adhering to Policy, applying sound ethical judgment regarding personal behavior, conduct and business practices, and escalating, managing and reporting control issues, as well as effectively supervise the activity of others and create accountability with those who fail to maintain these standards., • Travel as required, • Perform other duties as required Requirements: • Bachelor’s degree required or equivalent working experience., • 7+ of experience leading teams in mortgage default servicing operations including Collections, Loss Mitigation, Single Point of Contact, Document Processing, etc, • Expert knowledge of OCC, CFPB, FDCPA, RESPA and state law servicing guidelines, • Ability to work independently and take initiative, while multi-tasking in a fast paced environment, • Ability to prioritize and manage time effectively to meet strict deadlines, • Well-versed in information gathering techniques., • Availability to work late nights and Saturdays as needed., • Proficiency in Microsoft Office Suite., • Highly ethical., • Proficiency in Microsoft Office Suite., • Highly ethical. Competencies: • Excellent written and verbal communication skills., • Strong analytical and organizational skills., • Excellent knowledge of the collection process., • Proficiency in Microsoft Office Suite., • Highly ethical. Why you'll be a good fit: Our Core Values are an integral part of who we are and who we hire. By living our Core Values, every day, we continue to attract the best and brightest talent, achieve unsurpassed results and continuously challenge ourselves to be better than yesterday. These values are at the heart of our organization and within every teammate. To be a great fit, you’ll bring the following Results - We are passionate about winning. Agility - We proactively anticipate, respond and pivot to ensure MCU wins. Integrity - We operate with the highest ethical standards and highest degree of honesty. Belonging - We cultivate a culture of inclusion and teamwork. Ownership - We take personal responsibility and hold ourselves accountable for the results. . What we can offer you: Competitive compensation, medical and dental benefits. 401K with employer match Flexible paid time off. We are committed to hiring, training, cultivating, promoting, and celebrating an environment where we have a welcoming and fulfilling place for all people to call home. Diversity of race, thought, sexual orientation, age, veteran status, religion, and disability will empower us to thrive as individuals, as teams, and as an organization. Municipal Credit Union (MCU) is an Equal Opportunity Employer. Municipal Credit Union provides equal employment opportunities to all employees and applicants for employment and prohibits discrimination and harassment of any type without regard to race, color, religion, age, sex, national origin, disability status, genetics, protected veteran status, sexual orientation, gender identity or expression, or any other characteristic protected by federal, state or local laws.