Collections & Loss Mitigation Manager - Valley National Bank
Wayne, NJ 07470
About the Job
Responsibilities include but are not limited to:
* Responsible for administering all mortgage and home equity collection, loss mitigation, and impairment strategies in accordance with various bank, investor, and regulatory guidelines.
* Oversee, train, monitor and develop subordinates, particularly the Loss Mitigation Supervisor, Foreclosure Specialist, Bankruptcy Specialist, and Collection Floor Supervisor.
* Responsible for setting and directing Department goals while developing and implementing effective strategies to maximize resources, minimize expenditures, and mitigate losses.
* Manage the portfolios and default reporting for our investors (Fannie Mae, Freddie Mac, NJH, etc.) to ensure accuracy while mitigating potential fee assessments.
* Review and approve the handling of foreclosures, bankruptcies, work-out plans, deed-in-lieus, and any other loss mitigation activities pursuant to Investor and Bank guidelines to ensure compliance.
* Oversee and evaluate the performance of Department vendors, particularly foreclosure attorneys, to ensure that their efforts are fully compliant and that timelines are being followed in accordance with Investor guidelines.
* Keep well-informed of changes to local, state, federal, and regulatory changes in the collections, foreclosure, loss mitigation, and bankruptcy environment and ensure that staff members are trained accordingly.
* Evaluate job performance standards while completing periodic employee performance evaluations. Make recommendations in personnel changes, job descriptions, and/or job status while administering disciplinary action as needed.
Required Skills:
* Excellent verbal and written communication skills.
* Ability to prioritize, organize, and delegate assignments.
* Ability to multi-task.
* Ability to assist borrowers with establishing financial priorities and ability to impart these skills on subordinates.
* Ability to handle customer conflict resolution.
* Intermediate PC skills using Microsoft office applications.
Required Experience:
* High School Diploma or GED and a minimum of five years' related experience in collections or loss mitigation, with two years in a managerial position.
* Knowledge of Fannie Mae and Freddie Mac investor guidelines.
* Bachelor's degree in related field preferred.
Equal Opportunity Employer Minorities/Women/Protected Veterans/Disabled
* Responsible for administering all mortgage and home equity collection, loss mitigation, and impairment strategies in accordance with various bank, investor, and regulatory guidelines.
* Oversee, train, monitor and develop subordinates, particularly the Loss Mitigation Supervisor, Foreclosure Specialist, Bankruptcy Specialist, and Collection Floor Supervisor.
* Responsible for setting and directing Department goals while developing and implementing effective strategies to maximize resources, minimize expenditures, and mitigate losses.
* Manage the portfolios and default reporting for our investors (Fannie Mae, Freddie Mac, NJH, etc.) to ensure accuracy while mitigating potential fee assessments.
* Review and approve the handling of foreclosures, bankruptcies, work-out plans, deed-in-lieus, and any other loss mitigation activities pursuant to Investor and Bank guidelines to ensure compliance.
* Oversee and evaluate the performance of Department vendors, particularly foreclosure attorneys, to ensure that their efforts are fully compliant and that timelines are being followed in accordance with Investor guidelines.
* Keep well-informed of changes to local, state, federal, and regulatory changes in the collections, foreclosure, loss mitigation, and bankruptcy environment and ensure that staff members are trained accordingly.
* Evaluate job performance standards while completing periodic employee performance evaluations. Make recommendations in personnel changes, job descriptions, and/or job status while administering disciplinary action as needed.
Required Skills:
* Excellent verbal and written communication skills.
* Ability to prioritize, organize, and delegate assignments.
* Ability to multi-task.
* Ability to assist borrowers with establishing financial priorities and ability to impart these skills on subordinates.
* Ability to handle customer conflict resolution.
* Intermediate PC skills using Microsoft office applications.
Required Experience:
* High School Diploma or GED and a minimum of five years' related experience in collections or loss mitigation, with two years in a managerial position.
* Knowledge of Fannie Mae and Freddie Mac investor guidelines.
* Bachelor's degree in related field preferred.
Equal Opportunity Employer Minorities/Women/Protected Veterans/Disabled
Source : Valley National Bank
