Loss Mitigation Manager
Not Disclosed•Full-TimeOn-site
location_on494, East Cabarrus Street, Warehouse District, Raleigh, Wake County, North Carolina, 27601, United States
Civic Culture
Our organizations believe we can all do well by doing good. We value the contributions of diverse minds and prioritize the success and well-being 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.
About the Position
The Loss Mitigation Manager is responsible for the operational management of the Loss Mitigation Team and its efforts to proactively manage delinquent accounts by contacting Credit Union members. This role involves identifying potential risks, working with internal teams and members to resolve payment issues and escalated situations, providing advanced oversight of repayment solutions, and implementing strategies to mitigate loan losses. The position serves as a primary resource for knowledge regarding elevated account actions, insurance claims, and collateral recovery efforts to assist with membership communication before and after charge-offs.
Normal Day-to-Day Work
In this role, you will manage early and late-stage delinquency management efforts, ensuring the team monitors loan accounts and identifies members at risk of becoming delinquent. You will provide leadership guidance to Loss Mitigation Team Leaders in accordance with organizational strategy and principles, while overseeing workforce management and scheduling. The role requires recommending strategic collection efforts and assisting in their operational implementation to ensure team goals and KPIs are met.
You will work closely with the Loss Mitigation team to approve escalated repayment plans, settlements, strategic loan modifications, and workout plans. A key part of the day involves providing primary escalation assistance to active and charged-off accounts and ensuring accurate documentation of all member interactions, payment agreements, and action plans in the core collection system. You will also provide members with information on financial education resources and tools to help them manage their finances and avoid future delinquencies.
Fostering a culture of cross-team collaboration and bench-strength within the Loss Mitigation Team is essential, including functions of escalated collection actions and Default Management. You will maintain and train knowledge of team practices to aid in cross-team communication and collaborate with other internal business units to ensure a coordinated approach to loss prevention. Additionally, you will partner with the AVP of Risk Assessment and Loss Mitigation in reviewing reports on delinquency trends, member interactions, and recovery efforts, ensuring all activities comply with federal and state regulations, as well as Credit Union policies, guidelines, and procedures. You will take ownership for actions, decisions, and results, openly accepting feedback and demonstrating the willingness and ability to improve.
Contact Us
If you have questions about this position description, please feel welcome to ask. You can reach our HR Department at:
Civic Human Resources 3600 Wake Forest Road, Raleigh, NC 27609
Email: careers@civicfcu.org
Work location
Work model: On-site
494, East Cabarrus Street, Warehouse District, Raleigh, Wake County, North Carolina, 27601, United States
Raleigh, North Carolina
Key Responsibilities
- check_circleManage early and late-stage delinquency management efforts for the Loss Mitigation Team
- check_circleOversee Loss Mitigation Team Leaders and provide leadership guidance
- check_circleEnsure accurate documentation of member interactions and payment agreements in the core system
- check_circleProvide members with financial education resources to help manage finances
- check_circleCollaborate with internal business units to ensure a coordinated approach to loss prevention
- check_circleApprove escalated repayment plans, settlements, and strategic loan modifications
- check_circleEnsure all activities comply with federal, state regulations, and Credit Union policies
Requirements
- verifiedMinimum 7–9 years experience in Consumer, Commercial, and Real Estate collections
- verifiedMinimum 1–3 years experience in a lead or leadership role in financial services
- verifiedPractical experience analyzing consumer credit reports, income statements, and credit principles
- verifiedDemonstrated understanding of accounting principles and business financial statements and tax returns
- verifiedDemonstrated experience with credit procedures, policies, regulations, laws, bankruptcy, and consumer law
- verifiedBA/BS in Business Management or related field (preferred)
- verified1–3 years experience in credit underwriting, portfolio evaluation, or administration (preferred)
- verifiedPrior escalated collections experience including repossession, foreclosure, and small claims management (preferred)
Nice to Have
BA/BS in Business Management or related field. 1 – 3 years of experience in credit underwriting, portfolio evaluation, or administration. Prior escalated collections experience including repossession, foreclosure, and small claims management.
Similar Job Opportunities
Frequently asked questions about Loss Mitigation Manager at Local Government Federal Credit Union
What does a Loss Mitigation Manager at Local Government Federal Credit Union do?expand_more
In this Loss Mitigation Manager at Local Government Federal Credit Union role, you will manage early and late-stage delinquency management efforts for the loss mitigation team; oversee loss mitigation team leaders and provide leadership guidance; ensure accurate documentation of member interactions and payment agreements in the core system; and provide members with financial education resources to help manage finances.
What are the requirements for this Loss Mitigation Manager role?expand_more
Local Government Federal Credit Union is looking for candidates who meet the following requirements: Minimum 7–9 years experience in Consumer, Commercial, and Real Estate collections; Minimum 1–3 years experience in a lead or leadership role in financial services; Practical experience analyzing consumer credit reports, income statements, and credit principles; Demonstrated understanding of accounting principles and business financial statements and tax returns; Demonstrated experience with credit procedures, policies, regulations, laws, bankruptcy, and consumer law; and BA/BS in Business Management or related field (preferred).
Where is the Loss Mitigation Manager role at Local Government Federal Credit Union located?expand_more
Loss Mitigation Manager at Local Government Federal Credit Union is based in 494, East Cabarrus Street, Warehouse District, Raleigh, Wake County, North Carolina, 27601, United States. This is a on-site role.
Is this Loss Mitigation Manager job remote, hybrid, or on-site?expand_more
Local Government Federal Credit Union has listed this Loss Mitigation Manager role as on-site.
How much experience is required for this Loss Mitigation Manager role?expand_more
Loss Mitigation Manager at Local Government Federal Credit Union typically requires 7–9 years of relevant experience at the senior level.
What skills do you need for the Loss Mitigation Manager role at Local Government Federal Credit Union?expand_more
Key skills for Loss Mitigation Manager at Local Government Federal Credit Union include Consumer Collections; Commercial Collections; Real Estate Collections; Consumer Credit Reports; Income Statements; Accounting Principles; Business Financial Statements; and Tax Returns.
What category does the Loss Mitigation Manager role belong to?expand_more
Loss Mitigation Manager at Local Government Federal Credit Union is part of the accounting & finance job category on Recrutus.