Loss Mitigation Manager

Lafayette Federal Credit Union
We are seeking a smart, organized, and resourceful leader to manage the Default Prevention and Recovery department in all its activities related to loss mitigation activity to ensure policy and procedures are followed. The individual in this role will provide management oversight to Loss Mitigation staff and make recommendations to VP of Loss Mitigation for Loss Mitigation Committee loan reviews.

Location: Maryland - Full Time (Rockville)

*ONLY HIRING IN DC, MARYLAND AND VIRGINIA*

*Work from home capabilities are available*

About Us:
We are Lafayette Federal Credit Union, recognized in the S&P Global Market Intelligence Report as one of the Top 100 performing credit unions in 2021 for the second year in a row, securing the #12 spot out of over 1,700 qualified credit unions nationwide. Our organization is growing, and we are seeking top-notch individuals to provide support to our members. We want to be the premier financial partner for all our members. A critical component in achieving that success is our employees.

Position Description:
We are seeking a smart, organized, and resourceful leader to manage the Default Prevention and Recovery department in all its activities related to loss mitigation activity to ensure policy and procedures are followed. The individual in this role will provide management oversight to Loss Mitigation staff and make recommendations to VP of Loss Mitigation for Loss Mitigation Committee loan reviews.

Duties:
Perform monthly portfolio reviews to identify potential loan performance issues within our mortgage and consumer portfolios
Maintain a loan watchlist of loans that have been identified as potential risk.
Review and approve loss mitigation packages to be submitted to the committee.
Offer potential mitigants for identified risk and underlying issues impacting troubled borrower.
Work in partnership with Recovery on Bankruptcies, short sales, and third-party debt management cases.
Demonstrates compliance with all applicable regulations and keeps up to date on regulation changes.
Establish and maintain effective, cooperative and collaborative working relationships with members, attorneys, vendors and staff.
Performs other duties as assigned by the Vice President of Loss Mitigation and Principal Vice President of Default Prevention and Recovery.
Troubleshoots and resolves member and internal inquiries in a timely, friendly and professional manner. Ensures all written and verbal member correspondence and all related information are documented and/or scanned accurately and timely into the Collections system.
Responsible for understanding and complying in an accurate and timely basis with all Bank Secrecy Act/Anti-Money Laundering/OFAC requirements that pertain to your position at LFCU and as directed by management and/or the Senior Vice President of Risk Management.

Requirements:
Provide all members with professional support, accurate information, and friendly service.
Ensure reports are prepared in a timely accurate manner
Contribute to the successful achievement of Organizational and Departmental goals as set by management and/or the Principal Vice President of Default Prevention and Recovery
Adhere to Lafayette Federal’s Service Standards Policy.
Maintains confidentiality at all times.
Maintain a dependable record of attendance and timeliness.
Ensure that consumer and mortgage collection queues are followed.
Excellent analytical skills, people skills and self-direction.
Excellent communication skills, both written and verbal.
Keen attention to detail.


Qualifications:
A positive credit standing

Experience:
Three to five years of similar or related experience. Have and maintain a working knowledge of FDCPA (Fair Debt Collections Practices Act).
Proficiency in Excel and Word required; knowledge of Corelations and FICS preferred.

Education:
A two-year college degree;
Completion of a specialized course of study at a business or trade school or;
Completion of a specialized and extensive in-house training or apprenticeship program.

Interpersonal Skills:
Courtesy, tact, and diplomacy are essential elements of the job. Work involves much personal contact with others inside and/or outside the organization for purposes of giving or obtaining information, building relationships, or soliciting cooperation.

Physical requirements and Work Environment:
This position requires manual dexterity, the ability to lift files and open cabinets. This position requires bending, stooping or standing as necessary.

This job operates in a clerical office setting. This role routinely uses standard office equipment such as computers, phones, photocopiers, filing cabinets and fax machines. Office environment with job duties conducted via telephone, face to face meetings, and on the computer.

Lafayette Federal Credit Union is committed to the health and safety of our employees, volunteers, and members. As such, we will require that all newly hired members of our team be COVID vaccinated (including the booster if eligible) two weeks prior to their first day of work. In accordance with applicable laws, we may consider exemptions to this requirement.

*Lafayette Federal Credit Union is an Equal Opportunity and E-Verify Employer*

EOE/AA/DISABILITY/VETERAN

How to Apply:
https://www.lfcu.org/landing-short/careers.aspx