Loss Mitigation Director

Position Overview:

The Loss Mitigation Director provides leadership of Frontier's Loss Mitigation department, with a focus to preserve the credit union’s assets and ensuring appropriate collection activities are taking place day to day. Primary duties include planning, organizing, and performing and directing collection activities associated with delinquent loans, negative share accounts, returned checks. Ensures proper action is taken regarding repossessions and disposition of repossessed collateral (including real estate and business loans), charge offs and recoveries. Utilizes advanced knowledge of collection policies and procedures to establish or refine activities and efficiencies. This position will be on site in Idaho Falls, ID.

Essential Functions:

• Executes established operational goals and ensures that credit union-wide plans are complemented and supported.
• Ensures existing policies and procedures contribute to maximum efficiency.
• Maintains knowledge of all collections rules and regulations and ensures their integration into current policies and practice and keeps others informed of changes.
• Makes final decisions regarding action on delinquent loans/accounts, workout loans and extensions.
• Liaison with credit agencies to assure files are properly maintained. Coordinates corrections as needed.
• Identifies relative issues and trends and provides reporting to management.
• Conducts staff meetings as required and informs team members of policy, procedural, and legal changes. Discusses areas needing improvements. Directs, assigns, and coordinates the work of area personnel.
• Oversees fraud collections/resolutions.
• Coaches and develops team members. Motivates individuals to be successful at work (i.e. provide exemplary service, demonstrate accuracy, and achieve sales and referral goals).
• Assists team members and members with escalated issues; utilizes solid problem resolution skills and maintains a comfortable and productive work environment.
• Ensures activities associated with bankruptcy hearings, foreclosures, and small claims actions are performed in a timely and accurate manner. Refers to legal counsel when needed.
• Handles the most complex collections issues and escalated member calls.
• Actively performs collection activities including delinquent account reviews, determines probable reasons for account status, and contacts members to resolve the delinquencies. Discusses possible financial arrangements and offers financial counseling to arrive at suitable payment arrangements.
• Skip traces to locate members and checks for other related accounts with resources to enhance the collection efforts; Contacts co-makers and follows up with them until the account is current.
• Properly coordinates legal repossession of collateral on secured agreements; Ensures proper insurance coverage. Involves management and attorneys as needed.
• Oversees garnishment actions and recommends actions regarding charge-offs.
• Ensures that collection efforts are performed in accordance with Credit Union policies and procedures and are legally compliant.
• Assists in the preparation of monthly delinquency reports, Small Claims Court documents, Bankruptcy, foreclosures, repossession, charge-offs and extensions, and referrals to collection agencies and the attorney.
• Keeps management informed of activities, progress attained toward established objectives, and of any significant problems.
• Actively and professionally cross-sells Credit Union services, as appropriate.
• Understands, applies, and complies with all Credit Union Policies and Procedures, State and Federal laws and regulations, and adheres to requirements set forth by the Bank Secrecy Act (BSA).

Qualifications/Skills:

• High school diploma or equivalent. Bachelor’s degree in related field preferred
• Minimum of 5 years spent in preparatory financial industry position; including experience and legal knowledge of debt collection and creditor responsibilities
• At least 5 years of leadership experience with proven ability to motivate and engage a team
• Operate a computer with proficiency of MS Office; Excellent knowledge of report software and processes
• Communicate with courtesy, tact, and diplomacy in person and over the phone; Persistence, along with solid analytical and negotiating skills are vital to success
• Must remain composed in stressful, high-pressure situations. Calmly and professionally handle different personalities from diverse cultures at various levels within and outside of the organization and demonstrate highest levels of member service
• Demonstrate extreme accuracy and quality, effectively handle multiple tasks and changing priorities, and exercise highest level of discretion on both internal and external matters
• Solid knowledge of collections procedures and related laws and regulations; Must continue to increase and maintain knowledge
• Consistently complies with all state and federal regulations as well as credit union policies and procedures
• Persistence and professionalism are vital to the successful execution of this position and maintaining the professional image of the credit union
• Maintain confidentiality in all matters

Physical Requirements:

Bend, sit, or stand to perform primarily sedentary work with limited physical exertion; occasional lifting up to 10 lbs. Operate routine office equipment including computer terminals, keyboards, telephones, copiers, and calculators. Work on computer for up to 8 hours per day. Some locations may require ability to climb or descend stairs with minimal assistance in emergency situations.