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<p>Function</p>
<p> This position is responsible for overall strategy and business planning for the repayment of all delinquent loan, deposit, and the disposition of Citadel owned collateral. This position serves as Citadel’s main contact with regulators, auditors, examiners, and third-party vendors utilized in our recovery efforts. This position is an integral part of being involved in providing a high-level of customer service to our membership base.</p>
<p> Continually evaluates department’s resources, personnel, and procedures to ensure continued high performance in alignment with Citadel’s Strategic Plan and Brand Platform. This position requires working with other Internal and External stakeholders to provide a high-level of customer service and attention.</p>
<p> Is responsible for compliance with all applicable regulatory requirements for debt collections, Citadel policies, and internal control procedures. Serves as the liaison with internal auditors, federal examiners, third party collection agencies, including law firms involved in legal matters resolving around debt collection. Represents Citadel in court hearings regarding judicial procedures and lawsuits.</p>
<p> Responsible for budgeting and the management of collection expenses. Has responsibility for third-party vendors including contract negotiations. Has the authority to negotiate debt settlements with borrowers up to certain thresholds. Stands as a member of the Allowance Loan and Loan Review leadership groups. Is responsible for implementation of consumer assistance programs. Required to provide monthly reporting and insights into key performance metrics.</p>
<p> Provides leadership and direction to the seventeen staff members, including two managers, of the Collection Department.</p>
<p><b> Job Overview</b></p>
<ul>
<li>Provides leadership and direction to the Collection Department to ensure ongoing effectiveness in the department’s operations. Accountable for the overall operations of Citadel’s Collection Department, including the collection of past due consumer and mortgage loans and negative checking accounts, the repossession and sale of delinquent vehicles, the foreclosure and sale of delinquent real estate, and recovery efforts to mitigate loss. </li>
</ul>
<ul>
<li>Oversees the performance and capabilities of the Collection department to ensure performance is consistent with Citadel’s Strategic Plans</li>
</ul>
<ul>
<li>Ongoing analysis of structure, policies, practices, competencies, and talent to energize growth</li>
<li>Direct, plan, and implement policies, objectives, and procedures to ensure continuing effective business operations to maximize department ROI and increase productivity</li>
<li>Ongoing evaluation to ensure the department evolves to perform effectively as the organization grows</li>
<li>Oversee all consumer, mortgage, and deposit collection activities</li>
<li>Oversee the management of the collection staff:</li>
<li>Ensure they are developed to efficiently carry out job duties and tasks</li>
<li>Ensure consistency of staff effort </li>
<li>Ensure performance evaluation feedback is provided </li>
<li>Ensure staff has assistance with complicated or heightened delinquencies </li>
<li>Maintain Citadel Class Service standards.</li>
<li>Ensure the department collection strategy is designed for maximum effectiveness. Utilize available resources to target high priority portfolios. Utilize a mix of techniques – collector calls, automated calls, and written communication. </li>
<li>Develop and oversee a strategy to mitigate and manage charge offs for both loans and deposit shares. </li>
<li>Ensure negative shares are charged off in compliance with NCUA guidance, and that all accounts are properly reported to ChexSystems</li>
<li>Develop an effective recovery strategy. Manage the efforts of third party collection agencies and maintain the proper blend of agency (or other third party) and internal collection efforts (delinquent and charged off accounts). Ensure agency performance is effective. Create account placement strategies that maximize potential recoveries.</li>
<li>Ensure loss mitigation claims are filed with Citadel’s Collateral Protection Insurance provider</li>
<li>Analyze monthly delinquency and underwriting trends. Hold monthly meetings with Lending management to discuss general trends in delinquency. Be masterful with the numbers - understanding what the acceptable delinquency level for each lending product is and what we need to do to reach the desired level.</li>
<li>Ensure the department is compliant with all bankruptcy rules and regulations. Ensure a process is in place for identifying, noting, and correctly processing all bankruptcy actions. Determine when bankruptcy cases should be referred to outside counsel.</li>
<li>Develop, maintain, and utilize relationships with partner law agencies. Allocate necessary collection related legal matters to the appropriate firm, and monitor each firm’s performance and effectiveness.</li>
<li>Oversee the relationships of all vendors whose primary contact with Citadel is the Collection department. Manage for effectiveness, and be cognizant of potential liability on Citadel’s behalf for third party actions</li>
<li>Ensure appropriate solicitations of Citadel’s consumer loan hardship modifications. Review the programs for effectiveness.</li>
<li>Oversee the process to provide Loss Mitigation options to members with delinquent mortgages. Submit appropriate cases to the Citadel Loan Review leadership group. Understand Federal and State requirements for foreclosure alternatives.</li>
<li>Oversee the process for responses to consumer credit bureau complaints</li>
<li>Maintain knowledge of technological advances in the industry. If it is determined that system upgrades are needed, then evaluate available options and make the appropriate recommendation.</li>
<li>Determine the reporting needs of the department. Develop sophisticated reporting including trend analysis and information that may be unique to a specific product line – trends in loan-to-values for auto loans, etc. Manage the accurate preparation of all department collection reports and forward to senior management in a timely manner.</li>
<li>Ensure department compliance with all FDCPA, SMCRA, UDAAP, CFPB, Fannie Mae, Freddie Mac, and state regulations.</li>
<li>Oversee the collection and maintenance of all Real Estate Owned accounts. Provide all necessary support to attorneys needed to work accounts to resolution. Report results to management on a regular basis.</li>
<li>Oversee the vehicle repossession process. Ensure defaulted loans are referred for repossession appropriately. Develop effective redemption review processes that allow for reinstatement of the loan when appropriate. Ensure that sold vehicles are processed in a manner that maximizes return to minimize loss.</li>
<li>Oversee the foreclosure and OREO process. Ensure all appropriate efforts are expended in an effort to find alternatives to foreclosure, in compliance with CFPB, Fannie Mae, and Freddie Mac regulations. Ensure that foreclosure proceedings are accurate, and consistent with the applicable legal guidelines. Ensure OREO properties are rehabilitated and sold in a manner that maximizes return to minimize loss.</li>
<li>Oversee delinquency reporting and claim management for Private Mortgage Insurance loans that are in default</li>
<li>Respond to member complaints (NCUA, BBB, ChexSystems) regarding collection activities</li>
<li>Review and accept settlement offers on loans and shares, in compliance with credit union policy</li>
<li>Prepare an annual department budget. Ensure resources are properly forecast and allocated. Monitor and approve payment of collection expenses, with the intent of reducing expenditures while maintaining effectiveness.</li>
<li>Demonstrate department compliance with Citadel Policies and Procedures to internal and external auditors. </li>
<li>When necessary, represent the credit union in District Court proceedings.</li>
</ul>
<p><b>Qualifications and Education Requirements</b></p>
<ul>
<li>12+ years of Banking and/or Collections experience required. 10+ years of Supervisory/managerial experience required</li>
<li>12+ years of Banking and/or Collections experience required. 10+ years of Supervisory/managerial experience required</li>
</ul>
<p>Knowledge of:</p>
<ul>
<li>Basic accounting principles and practices and the analysis and reporting of company and consumer financial data </li>
<li>Collection law for first- and third-party collection efforts and entities</li>
<li>Vendor management for partner collection agencies – appropriate commission charges, ability to manage for effectiveness, understanding of third-party liability</li>
<li>Bankruptcy law and procedure. Requirements in action and performance for Chapter 7 and 13 consumer bankruptcies, and Chapter 11 commercial reorganizations. </li>
<li>Automobile resale market – trends, auction and resale locations and options</li>
<li>Foreclosed Real Estate market – trends, neighborhood values, resale options</li>
<li>Budgeting and Forecasting</li>
<li>Effective Collection techniques and theory</li>
<li>FDCPA, FCRA, SMCRA, TCPA and UDAAP</li>
<li>Collateral Protection Insurance – how it works, what it covers, when it is applied, filing claims</li>
<li>Foreclosure law required notices and proceedings for PA, NJ, and DE (as well as any other state where a Citadel member may have granted a mortgage.</li>
<li>Special requirements and documentation for Fannie Mae and Freddie Mac loans</li>
<li>CFPB requirements for Foreclosure Alternatives</li>
<li>PHFA requirements for Foreclosure Alternatives</li>
<li>Protocol for representing the FI in Magistrate or District court proceedings</li>
</ul>
<p><b>Education</b></p>
<ul>
<li>Bachelor’s Degree in Business/Communications or applicable work experience</li>
</ul>
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