VP, Default Risk and Strategy
Company: Local Government Federal Credit Union
Location: Raleigh
Posted on: March 20, 2023
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Job Description:
Job Description:
Job Description Description: The VP, Default Risk and Strategy
leads the Default Risk and Strategy group and is responsible for
managing and developing tactics and strategies to optimize the
Credit Union's collections and recovery operations to elevate
business performance and meet portfolio risk appetite goals. . This
individual will work closely with the Collections, Loss Management,
Loan Analytics, Loan Operations and Risk and Compliance teams to
develop key performance indicators (KPIs) to maximize the
performance of internal and external collections teams. The VP,
Default Risk and Strategy will enhance existing and develop new
policies, procedures, and processes to minimize risk of loss. by
analyzing underwriting, collections and loss management activities
using key metrics. Normal Day-to-Day WorkEvaluates the
effectiveness of current collections and recovery policies and
strategies.Optimize all stages of collections and recovery
pertaining to legal treatment and collateral disposition and
disposal.Develop, implement, and monitor analytical strategies for
delinquent portfolio. Scope includes analysis of portfolio
dynamics, member segmentation, optimization of loss mitigation
efforts, forecasting, and enhancements of collections support
systemsMonitor emerging trends in collections treatment and
technology across the industry. Support assessment and
implementation of technology platforms to improve capacity,
efficiency, and functionality of collections operations.
Participate in creating system requirements for new collections and
recovery strategies.Oversight of performance and quality control of
external collections services providers and accompanying
collections system solutions to ensure quality member service
standards are being met and that all applicable regulatory and
Credit Union policies, procedures, and processes are adhered to.
Develop and monitor collections and loss management KPIs and
present performance to management. Demonstrates compliance with all
regulations related to collections and loss management and keeps
abreast of regulatory changes impacting these items.Documents and
communicates risk exposure and internal control weaknesses of
collections activities to the SVP, Loan Portfolio and Risk.
Implement initiatives to ensure consistency and compliance with
collections policies.Assists the SVP, Loan Portfolio and Risk in
developing and driving initiatives to achieve organizational
delinquency objectives and performance goals. Provides for staff
training and development on Credit Union
policies/procedures/products, regulatory compliance, and service
level excellence. Job Qualifications Here are a few skills you MUST
have to be considered for this position.Minimum of 10-12 years of
collections experience, with a minimum of 4-6 years of managing a
collections portfolio.BA/BS in Accounting, Finance or Business
Management preferred.Demonstrate ability to synthesize, prioritize,
and drive results with a high sense of urgency.Familiarity with and
understanding of mortgage loan, consumer loan, and credit card
portfolios.Knowledge and practical application of financial
analysis, planning, and reporting.Demonstrates knowledge and
experience with the life cycle of delinquencies and state and
federal laws related to collections.Must have strong analytical
skills.Experience developing and managing through policy. Excellent
verbal, written, presentation and leadership skills. Must possess a
strong service orientation. PC proficient including Microsoft
Office (Word, Excel, PowerPoint, Access, Outlook) and the
Internet.Ability to function in a Consumer business office
environment and utilize standard office equipment including but not
limited to: PC, copier, telephone, etc.Ability to lift a minimum of
25 lbs. (file boxes, computer printer).Travel required on occasion.
Here are a few qualifications we'd LIKE you to have to make you
more suited for this position.Advanced degree preferred. About the
Civic and LGFCU Culture Our organizations believe we can all do
well by doing good. We value the contributions of diverse minds and
prioritize the success and wellbeing of our employees. We also
believe every person in our organization plays a role in supporting
a healthy environment and helping to achieve our goal of prosperity
for all. To this end, we recruit bright, energetic and talented
people to be members of our team. In return, we offer a dynamic
workplace that presents opportunities for professional advancement
and individual growth. We strive to always display integrity,
self-awareness, courage and respect for one another while
continuing to seek opportunities to learn. We really believe that
when our employees succeed, our community wins. If you have
questions about this position description, please feel welcome to
ask. You can reach our HR at: LGFCU Human Resources 3600 Wake
Forest Rd Raleigh, NC 27609 careers@lgfcu.org Requirements:
PI208037657
Keywords: Local Government Federal Credit Union, Raleigh , VP, Default Risk and Strategy, Executive , Raleigh, North Carolina
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