The incumbent in this position will manage and lead the loss prevention and recovery efforts for the credit union. Position is responsible for managing the function to maximize the loss prevention and recovery productivity and effectiveness, increase efficiencies through automation and standardization, and ensuring all policies and procedures are standardized and up-to-date and comply with all regulations and internal controls requirements. Work involves moderate difficulty in continuing to improve processes while also implementing enhancements to current procedures and applications. Resources to do the job require strong verbal and written communication skills, effective people management, strong relationship skills and ability to effectively collaborate with peers, proven analytical ability, and advanced systems skills. Direction is received from the CFO.
Loss Prevention and Recovery:
- Building and maintaining an optimal organizational structure that can flex with changing business and economic environments.
- Effectively manage all 3rd party vendors and vendor relationships to ensure effective performance and risk management.
- Demonstrate continuous improvement efforts through process re-engineering, six sigma, automation and standardization to drive more efficient and effective business processes that will optimize loss prevention and recovery.
Lead and develop analytical tools, systems and processes to specifically improve the effectiveness of the loss prevention efforts (i.e. Predictive modeling through SAS).
Proactively manage all policies, processes and procedures that would minimize credit loss, maximize recovery, and minimize risks, protecting the assets of the credit union, and comply with all regulatory, legal and internal controls requirements.
Partnering with Lending, responsible for recommendation and resolutions on loan modification requests within the Credit Committee review process.
Lead all resolutions for Credit Bureau, Illinois Department of Financial and Professional Regulations, and BBB complaints pertaining to collections.
Collaborate with legal team when appropriate and manage outside attorneys and governmental agencies regarding account litigation. Authorize and manage suit litigation that represents the best interests of the credit union.
When and where appropriate, testify in court proceedings as a credit union representative in civil collection cases.
Cooperate with state, federal and internal examiners and/or auditors in routine credit union examinations and audits. Conduct quarterly asset disposal and/or vendor audits to ensure GLBA requirements.
Partner with lending to ensure alignment of LPR’s actions with lending function to proactively communicate issues and opportunities, and lead in all resolution efforts for the appropriate responses.
Partner with the accounting team to ensure efficient and accurate reporting of our internal and external report requirements.
- Manage multiple projects of varying sizes and complexity.
- Responsible for full life cycle Project Management including project definition and management; definition of work assignments and coordination with internal partners; substantiation of cost through effective cost-benefit analysis.
- Create, maintain and manage project statement of work with supporting project documentation and schedules.
- Measure and monitor goal progress on a daily basis with timely updates to appropriate management levels.
- Coordinate project teams with the ability to effectively conduct meetings and monitor project plans to ensure timely project implementations.
Completion of a Bachelor’s degree in Accounting, Finance or a related field (MBApreferred) and 7-10 years experience in the finance, loss prevention & recovery and accounting arenas. Minimum 5 years of supervisory experience in a finance, operation or lending environment. Must be proficient in leading cross-functional teams in areas of six sigma, project management and process re-engineering. Financial Institution experience preferred, but not required. Ability to multi-task and deal with heavy volume period with tight time parameters. Must possess strong analytical, verbal and written communication skills, and above average judgmental capabilities. Must be proficient with core systems, database systems and the Microsoft Office Suite. Ability to work effectively with associates at all levels within the organization.