Manager of Loss Mitigation

Position Summary

The Manager of Collections and Recovery is responsible for leading and developing a team focused on consumer loan collections and recovery activities. This role oversees strategies and daily operations from early-stage delinquency through pre-repossession, as well as recovery of charged-off accounts. The manager ensures compliance with applicable regulations, drives performance to meet portfolio goals, and creates a culture of accountability, member service, and continuous improvement.

Supervises: Loss Mitigation Team Supervisor, Loss Mitigation - Recoveries, Loss Mitigation Processor

Essential Job Functions and Responsibilities

25% Leadership and Team Management

* Lead and supervise the collections and recovery teams, including hiring, coaching, performance management, and professional development.

* Foster a positive and engaged team culture that emphasizes accountability, service, and continuous improvement.

* Provide ongoing training and support to ensure staff are equipped to meet performance and compliance standards.

25% - Collections Oversight (Early Stage to Pre-Repossession)

* Oversee early-stage through late-stage delinquency collections, ensuring accounts are worked efficiently and consistently.

* Develop and implement strategies for reducing delinquency, improving contact rates, and supporting member repayment solutions.

* Manage workflows and escalation protocols up to the point of referral to the repossession team.

25% - Recovery Oversight (Post Charge-Off)

* Direct the recovery program for charged-off loans, including settlements, payment arrangements, and legal actions when necessary.

* Partners with legal counsel and external vendors to support collection strategies and maximize recoveries.

* Ensure recovery processes balance regulatory compliance, member treatment standards, and financial performance.

15% - Performance & Reporting

* Monitor performance metrics and department scorecards to meet delinquency, loss mitigation, and recovery targets.

* Recommend and implement process improvements, technology enhancements, and workflow strategies to increase efficiency and improve member experience.

* Prepare and present reporting on collections and recovery performance to senior leadership.

* Partner cross-functionally with lending, servicing, and risk management teams to align strategies and support organizational goals.

10%- Compliance & Risk Management

* Ensure compliance with all state and federal collection regulations (FDCPA, FCRA, UDAAP, etc.) and internal policies.

* Monitor and audit account handling practices to safeguard against compliance risks.

* Serve as a subject matter expert on collection regulations and industry best practices.

Minimum Qualifications

Educational Requirements

Bachelor's degree in business, finance, or a related field preferred; equivalent work experience (4+ years) will be considered.

Certificates/Licenses

Must have and maintain a valid driver's license

Must have a clean driving record; an annual MVR will be pulled to ensure compliance

Experience

* 5+ years of experience in consumer loan collections or recovery, with evidence of progressively increasing responsibility.

* Demonstrated leadership ability, either through formal supervisory experience or informal leadership such as mentoring peers, leading projects, or training others.

* Strong knowledge of collection and recovery processes from early delinquency through post charge-off.

* Understanding of applicable laws and regulations, including FDCPA, FCRA, UDAAP, and NCUA guidance.

* Excellent communication, negotiation, and conflict resolution skills, with the ability to balance firmness and member service.

* Proficiency with collections platforms, reporting tools, and Microsoft Office Suite (Excel, Word, Outlook, PowerPoint).

* Analytical mindset with the ability to interpret performance metrics and make data-informed decisions.

Preferred Experience

* Formal supervisory or management experience leading a collections or recovery team.

* Experience working in a credit union or community banking environment.

* Familiarity with Temenos Collections, Akuvo, FIS, or similar collections management systems.

* Background in managing vendor relationships, including legal firms or third-party collection agencies.

* Experience implementing process improvements and leveraging technology to improve efficiency and compliance.

* Leadership style emphasizes accountability, team culture, and cross-department collaboration.

Position Competencies

13% - Adaptable

Maintains effectiveness when experiencing major changes in the work environment; adjusts effectively to new work structures, processes, or requirements.

13% - Decision Making

Makes good decisions based upon a mixture of analysis, wisdom, experience, and judgment; most solutions and suggestions turn out to be correct and accurate when judged over time; sought out by others for advice and solutions. 13% - Develop Others

Develops others through coaching, feedback, and challenging stretch goals, tasks, and assignments; holds frequent development discussions; aligns employee career development goals with organizational needs.

13% - Functional Expertise

Possesses a sufficient level of technical and professional skill or knowledge in position-related areas; keeps up with current developments and trends in areas of expertise; actively seeks ways to grow and be challenged using both formal and informal development activities.

12% - Maintain Accountability

Ensures that employees understand the full range of their responsibilities with an emphasis upon standards and results. Also provides necessary support, including balanced and timely feedback.

12% - Manage Complexity

Gathers and analyzes diverse sources of data; separates what is relevant from what is not; determines root causes; defines situations accurately before determining problems and formulating approaches to solutions; is able to accomplish complex tasks with minimal guidance or instruction.

12% - Motivate Others

Can determine performance drivers for each person and customize motivational techniques to create a climate in which people perform at their best; is someone people like working for and with.

12% - Self-Awareness

Recognizes and understands own moods, emotions, and drives; can utilize feedback and self-reflection productively.

Additional Requirements

Job Knowledge

* Strong organizational skills with attention to detail and accuracy in documentation and reporting.

* Ability to leverage performance metrics and technology to drive process improvements, enhance efficiency, and deliver measurable results.

* Strategic mindset with the ability to balance immediate collection outcomes with long-term portfolio health and organizational growth.

Interpersonal Skills

* Strong conflict resolution skills with the ability to address sensitive situations constructively and maintain positive outcomes.

* Collaborative approach to achieving outcomes that balance member needs with credit union goals.

* Commitment to developing staff and creating meaningful career growth opportunities that align with both individual aspirations and organizational needs.

* Demonstrated ability to foster a positive, accountable, and team-oriented work environment that reflects TTCU's Core Values.

Working Conditions

Routinely perform work indoors in climate controlled private office with minimal noise

Must be able to perform job functions independently and work effectively either on own or as part of a team. Must be able to plan and direct the work activities of self and others. Must be able to read and carry out various written instructions and follow oral instructions. Must be able to speak clearly and deliver information in a logical and understandable sequence. Must be able to perform intermediate mathematical calculations with accuracy. Must be capable of dealing calmly and professionally with numerous different personalities from diverse cultures at various levels within and outside of the organization and demonstrate highest levels of customer service and discretion when dealing with the public. Must be able to perform responsibilities with composure under the stress of deadlines / requirements for extreme accuracy and quality and/or fast pace. Must be able to effectively handle multiple, simultaneous, and changing priorities. Must be capable of exercising highest level of discretion on both internal and external confidential matters.

Physical Demands

Regularly: Perform primarily sedentary work with limited physical exertion and lifting

of up to 10 lbs.

Regularly: Capable of regular, reliable, and timely attendance.

Regularly: Must be able to operate office equipment including telephone, copier,

facsimile, and calculator.

Regularly: Must be able to routinely perform work on computer for an average of 6-8

hours per day.

Occasionally: Must be able to work extended hours whenever required or requested by

management

Occasionally: Must be capable of climbing / descending stairs in emergency situation.

Occasionally: Travel by automobile

Employee Statement of Understanding

I have read and understand the job description for my position. I understand that my supervisor may assign additional projects and/or responsibilities not covered in the description.

I am able to perform all the essential functions of this position.

I agree to comply with the corporate compliance policy and all laws, rules, regulations and standards of conduct relating to my position. As an employee, I understand my duty to report any suspected violations of the law or the standards of conduct to my immediate supervisor.

As an employee, I will strive to uphold the mission and vision of the organization. All employees are required to adhere to the values in all their interactions with members and fellow employees.