Responsible for the overall effectiveness of administering residential and consumer loan servicing to ensure that loans are administered with high levels of accuracy, member service and compliance. Maximize and streamline efficiencies through technology, and efficient process design and execution. This role requires design of an effective departmental structure to ensure that processes are completed by a highly competent and engaged staff. Loans must be serviced per the terms of their original signed agreements, meeting high quality service standards, by clarifying issues and ensuring that problems are resolved promptly.
• Direct loan servicing activities including, but not limited to, oversee timely tax payments to various counties and municipalities and strive to eliminate penalty fees; ensure variable rate loan processing is accurate; monitor insurance in force and escrow processing.
• Ensure member communications related to loan servicing are clear and easily understandable by members. Ensure that responses to inquiries from both external and internal members regarding complex servicing issues for consumer or mortgage loans are handled timely and accurately.
• Formulate and facilitate portfolio growth and retention strategies, not limited to modifications, cross-selling Credit Union products, etc.
• Direct tasks related to whole loan purchases including due diligence, on-boarding, document processing and the disbursement of funds.
• Work with senior management to develop KPI’s for departmental performance standards. Utilize scheduled and ad-hoc reports to measure performance relative to standards.
• Collaborate with the Asset Recovery Department to ensure adherence to policies and procedures regarding loan maintenance, write-offs and modifications. Participate in Loss Mitigation Committee.
• Develop and monitor portfolio quality and performance metrics in order to report areas of increased risk as well as opportunity for growth and revenue generation.
• Supervise staff in the completion of various duties including mortgage and consumer ARM adjustments, escrow analysis, accounting reconciliation, system administration, investor remittances, document retention, lien recordings, lien releases, post closing activities and year-end activities.
• Participate with IT Department on system updates. Complete end of month and end of year activities as it relates to consumer/mortgage servicing, including payment exception posting, interest rebate calculation, reporting, rate changes, filing of IRS notices 1098, 1099C, etc.
• Maintain updates to departmental procedures resulting from new enhancements to systems.
• Ensure tax penalties are kept to a minimum and recoverable accounts are reconciled.
• Propose and design changes to processes and procedures to maximize overall effectiveness and compliance.
• Perform all duties inherent to a managerial role: assess talent and develop a high caliber team; challenge and develop staff to be more effective, efficient, and satisfied with the work they perform for the Credit Union and its members; prepare and administer performance snapshots; interview and select candidates for employment; promote teamwork and cooperation within the Loan Servicing unit and across the Credit Union; utilize coaching techniques to achieve desired performance level of staff; administer action plans and other disciplinary action as needed.
• Perform other duties as requested and assigned by senior management.
TYPE & AMOUNT OF EXPERIENCE:
• Bachelor’s degree and 7-10 years experience in loan servicing operations, with at least 5 years in a supervisory/managerial capacity
• Must have experience with residential and consumer loans
• Experience with commercial lending preferred
• Knowledge of generally accepted loan servicing practices, regulatory compliance and investor requirements
• Proficiency in database reporting; ability to extract, manipulate, and interpret data from various systems
• Proficiency in MS Office products (especially Excel)
• Knowledge of payroll processing and loan servicing software
• Knowledge of loan products and service best practices
• Knowledge of secondary market servicing (FNMA/FHMLC/FHLB) guidelines preferred
Leading the organization:
• managing change
• solving problems and making decisions
• managing politics and influencing others
• taking risks and innovating
• setting vision and strategy
• managing the work
• enhancing business skills and knowledge
• understanding and navigating the organization
Leading the self:
• demonstrating ethics and integrity
• displaying drive and purpose
• exhibiting leadership stature
• increasing your capacity to learn
• managing yourself
• increasing self-awareness
• developing adaptability
• communicating effectively
• developing others
• valuing diversity and inclusion
• building and maintaining relationships
• managing effective teams and work groups
• handling changing deadlines and multiple concurrent tasks
• paying strong attention to detail
• Standard office conditions
• Willingness to work flexible hours as necessary
In addition to any specific job requirements in connection with Bank Secrecy Act and/or OFAC (BSA), employee must (i) be aware of BSA matters commensurate with the position; (ii) report any suspicious activity to the manager or compliance department; and (iii) satisfactorily complete any required BSA training.