Default Manager

6 days ago


Raleigh, North Carolina, United States Local Government Federal Credit Union Full time
About the Role

The Default Manager plays a critical role in the Credit Union's Default Management team, overseeing the monitoring and management of foreclosure activities, collateral disposition, and collections-based legal activities. This individual will ensure that all default management processes and procedures adhere to state and federal laws and internal Credit Union policies.

Key Responsibilities
  1. Develop and implement strategic goals for the Default Management team, providing guidance and feedback to team members on progress and results.
  2. Create and maintain scalable, efficient, and compliant processes, procedures, and controls to ensure all Default Management loan activities are executed properly and efficiently.
  3. Coordinate and supervise pre- and post-bankruptcy filing, tracking, recording, and reporting functions.
  4. Oversee the control and supervision of pre- and post-acquisition properties, real estate and personal, and the disposal process.
  5. Ensure accurate maintenance of all loan files assigned to Default Management.
  6. Establish and maintain engagement with all parties involved in the execution of non-performing loan activities, including attorneys, collateral recovery agents, and other stakeholders.
  7. Manage third-party relationships related to loans assigned to Default Management, assessing service levels and recommending new service providers as needed.
  8. Collaborate with the Loan Analytics team to create, maintain, and manage reporting related to loans assigned to Default Management.
  9. Work closely with Lending teams to ensure proactive communication of identified trends impacting Credit Union lending risk tolerance.
  10. Document and communicate risk exposure and internal control weaknesses of the non-performing loan portfolio to the VP, Loss Mitigation and Default Management.
  11. Provide staff training and development on Credit Union policies, procedures, products, regulatory compliance, and service level excellence.
Requirements

The ideal candidate will have a minimum of 7-9 years of experience managing/servicing non-performing loan accounts, including a minimum of 1-3 years of management experience. They will demonstrate knowledge and experience with the loss mitigation life cycle and state and federal laws related to non-performing loans. Strong analytical skills, excellent verbal, written, presentation, and leadership skills are also required. A BA/BS in Accounting, Finance, or Business Management is preferred, with an advanced degree being a plus.


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