Investing in a career at Kinecta Federal Credit Union simply makes good sense. Kinecta is one of the largest credit unions based in California, and growing! We currently have an exciting opportunity for an outgoing, ambitious, and innovative individual that thrives on helping people in a team environment. As a VP, Loan Servicing and Collections you will use your strong people skills to build and deepen the financial relationships with our members and make every interaction with them an engaging and positive experience.
The VP, Loan Servicing and Collections (the VP) is responsible for directing several functional business units in Collections and Loan Servicing. The position contributes towards and supports the attainment of the Credit Union’s designated annual goals by efficiently overseeing all aspects of loan servicing operations to include, but not limited to, loan administration and servicing, collections, loss mitigation, bankruptcy, foreclosures, recovery, and vendor management, in accordance to policies and procedures.
The VP must have direct management experience in the day-to-day operations of all aspects of mortgage and consumer servicing operations including early and late-stage collections, recoveries, payments and back-office functions. A proven leader and analytical thinker with significant entrepreneurial drive, capable of ensuring all functions are effectively managed and compliant. Demonstrated ability to drive innovation and improvement in customer experience while mitigating losses and improving collections is essential.
The VP supervises the following:
- Loan Servicing, Managers and Supervisors for Consumer and Mortgage loans
- Loan Servicing Leads and Specialists, I through IV
- Business Analysts
- Insurance and Protection Lead and Specialists
- Loan Servicing Default Lead and Specialists
- Bankruptcy Specialists
- Collections Manager
- Collections, Supervisors and Leads
- Repossessions Manager
- Loan Adjustors I through IV
ESSENTIAL DUTIES AND RESPONSIBILITIES:
- Develops objectives to specify short term and long-term plans in accordance with the Credit Union’s strategic goals.
- Works with the Financial Department to prepare the annual and mid-year budget for the department.
- Ensures compliance and has clear understanding of RESPA, FDCPA, TCPA, investor requirements, company policy & procedure requirements and state and/or federal regulations.
- Assists in the evaluation, testing and/or modifying of current or new procedures, according to user requirements that conform to regulatory guidelines.
- Provides leadership, oversight, and business planning for the core Servicing Investor Reporting operations.
- Creates, implements and manages the Collection department’s operations and utilizes the latest technology and techniques to maximize efficiencies. Provides a good understanding of system conversions and implementation of new software requirements.
- Ensures that the automated processes and systems are properly functioning at all times.
- Monitors and evaluates delinquency, risk, gain and loss using various tools, such as
- market trending and loan performance. Meets company standards related to established delinquency resolution timelines.
- Designs and updates incentive programs for staff, as needed, as well as ensures that the staff is achieving goals and metrics as outlined in incentive and performance policies.
- Monitors productivity, accuracy and overall job performance for staffing efficiencies.
- Trains, develops and assists with career pathing of staff members.
- Resolves escalated complaint calls and provides assistance as needed.
- Ensures compliance within area of responsibility. Makes recommendations for improving effectiveness of policies and procedures.
- Ensure Collection and Loan Servicing departments meet service delivery excellence through metric definition, Service Level Agreements, monitoring, tracking and corrective action plans.
- Assists in the development and implementation of goals, objectives, policies, procedures and work standards for the Department.
- Directs and manages the workflow activities of the collections, loan servicing, collateral management, and vendor management.
- Oversees the preparation for NCUA examinations, internal audits and independent third-party audits of mortgage investor and portfolio loans. Produces critical and time-sensitive deliverables for executive management, as needed.
- Provides leadership, coaching, mentoring and training to staff, as needed.
- Resolves compliance issues; recommends changes to processes to meet requirements.
- Demonstrates energy and a desire to succeed; follow through on commitments; push self and others to deliver exceptional results
- Manages and executes loss mitigation strategies, bankruptcy and foreclosure processes on real estate loans.
- Continually seek to further knowledge on investor and agency guidelines and be willing to adapt to changes quickly and apply knowledge to current practices.
- Champions partnership with internal departments for efficiency and excellent customer service.
- Experience with multiple lending products. Provides strong knowledge in developing end-to-end processes, controls and key performance indicators.
- Evaluates appropriate staffing regularly to help meet company expectations.
- Directs and manages third party vendors, including due diligence, relations, contracts, performance
EXPERIENCE WITH AND KNOWLEDGE OF KEY REGULATORY AND COMPLIANCE REQUIREMENTS SUCH AS:
- Fair Debt Collection Practices Act (FDCPA)
- Regulation Z – Truth in Lending Act (12 CFR, Part 1026)
- Gramm Leach Bliley Act (GLBA)
- Service members Civil Relief Act (SCRA)
- Telephone Consumer Protection Act (TCPA)
- Unfair, Deceptive or Abusive Acts or Practices (UDAAP)
KNOWLEDGE, SKILLS AND ABILITIES:
- Extensive knowledge of state, federal and regulatory compliance requirements related to lending
- Extensive knowledge of collections and loan servicing practices
- Knowledge in all aspects of delinquency from early payment default, customer service, early mitigation, late mitigation, foreclosure, bankruptcy and quality control of collection call center activities.
- Detailed oriented and well organized.
- Strong leadership skills to motivate and inspire, train, mentor managers/direct reports, and manage poor performers.
- Ability to develop strategic vision of credit union lending efforts.
- Strong track record of using technology to improve productivity and reduce risk.
- Proficient in Microsoft Windows, Word, Excel and inter-company software.
- Excellent communication skills both written and orally.
- Must possess strong technology skills, including knowledge of collection software, loan systems applications and system conversions
- Must be a highly motivated, detail oriented, able to multi-task and work in a fast-paced environment while applying critical thinking skills.
EDUCATION, TRAINING AND EXPERIENCE:
Potential candidates for this position must meet the following requirements:
- Bachelor’s Degree from an accredited college or university in relevant field.
- Minimum of 15 years of experience in managing loan servicing and collection departments for a financial institution.