VP Claims - Pennymac

PENNYMAC:

Pennymac (NYSE: PFSI) is a specialty financial services firm with a comprehensive mortgage platform and integrated business focused on the production and servicing of U.S. mortgage loans and the management of investments related to the U.S. mortgage market. 

 

At Pennymac, our people are the foundation of our success and at the heart of our dynamic work culture. Together, we work towards a unified goal of helping millions of Americans achieve aspirations of homeownership through the complete mortgage journey.

Job Overview:

The Vice President Claims develops the business and strategic plans for the department and directs operational activities to manage and mitigate high levels of risk associated with claim recoveries totaling upwards of $1 billion annualized. As the VP, Claims, you will oversee multiple functions including post foreclosure sale options, eviction management, conveyance of title, title curative and delivery, property preservation and protection, and claim filing processes.

 

A Typical Day:

The VP Claims will:

 

• Oversee the development and execution of effective and efficient processes to maximize claim recovery including identifying workflow for a loan prior to claim filing, filing claims for reimbursement of expenses and incentives, reconciliation of claim proceeds and filing supplemental claims as needed, and management of claim receivables, including recourse with prior servicers
• Ensure that investor, insurer and company losses are minimized via development of required process and control infrastructure; policies, procedures, and operational routines, audit functions; and quality assurance of key processes, to ensure compliance with investor, insurer and internal guidelines
• Develop formal business plans for the team, including individual and team goals and performance measurements
• Partner and interface with key stakeholders in the process including cash management, investor accounting, default, property preservation, and transaction management
• Ensure reporting of key metrics associated with operational processes and results
• Perform other related duties as required and assigned
• Demonstrate behaviors which are aligned with the organization’s desired culture and values

What You’ll Bring:

• Bachelor’s degree or equivalent work experience
• 7+ years of relevant work experience
• Previous management experience required; process management experience a plus
• Strong financial expertise with respect to the complexity of the various claim types (HUD, VA, MI, etc.)
• Default-related experience; knowledge of post-foreclosure claims activity preferred
• Knowledgeable in GSE and insurer (MI, FHA, USDA, and VA) servicing guidelines
• MS Office, MS Access, and Visio

Why You Should Join:

As one of the top mortgage lenders in the country, Pennymac has helped over 4 million lifetime homeowners achieve and sustain their aspirations of home. Our vision is to be the most trusted partner for home. Together, 4,000 Pennymac team members across the country are guided by our core values: to be Accountable, Reliable and Ethical in all that we do. 

Pennymac is committed to conducting a business that makes positive contributions and promotes long-term sustainable growth and to fostering an equitable and inclusive environment, where all employees and customers feel valued, respected and supported. 

 

Benefits That Bring It Home: Whether you're looking for flexible benefits for today, setting up short-term goals for tomorrow, or planning for long-term success and retirement, Pennymac's benefits have you covered. Some key benefits include: 

• Comprehensive Medical, Dental, and Vision
• Paid Time Off Programs including vacation, holidays, illness, and parental leave 
• Wellness Programs, Employee Recognition Programs, and onsite gyms and cafe style dining (select locations)
• Retirement benefits, life insurance, 401k match, and tuition reimbursement 
• Philanthropy Programs including matching gifts, volunteer grants, charitable grants and corporate sponsorships

 

To learn more about our benefits visit: https://pennymacnews.page.link/benefits

 

Compensation: Individual salary may vary based on multiple factors including specific role, geographic location / market data, and skills and experience as defined below:

• Lower in range - Building skills and experience in the role
• Mid-range - Experience and skills align with proficiency in the role 
• Higher in range - Experience and skills add value above typical requirements of the role 

 

Some roles may be eligible for performance-based compensation and/or stock-based incentives awarded to employees based on company and individual performance. 

 

Salary:$90,000 - $150,000Work Model:OFFICE