Location: Hauppauge,NY, USA
Join Our Team
For over 70 years, Teachers Federal Credit Union has been committed to guiding members toward building a strong financial foundation today for a better tomorrow. Named one of America's Best-In-State Credit Unions by Forbes Magazine in 2022, Teachers has grown into one of the leading credit unions in the United States. As we broaden our national reach, we will continue to ensure that Teachers is a Best Place to Bank and a Best Place to Work. Teachers offers a variety of exciting career opportunities ranging from part-time and full-time staffers to executive leadership roles.
SUMMARY:
Responsible for managing, strategizing and organizing the daily processes in the Consumer Loans and Collections department - providing guidance, advice and direction to the staff in both areas, monitoring the efficiency, quality and quantity of work
produced. Maintains high business unit standards by reviewing, updating and implementing new and updated policies and procedures.
JOB DUTIES:
* Plans, organizes, and directs the activities of teams responsible for the processing, underwriting and origination of all direct consumer and indirect auto loan applications to provide the best member experience, maintaining production at a high level for new loan originations, maintaining low delinquency and loss ratios, reviewing and expediting the resolution of member disputes with the credit bureaus; overriding freezes and flags on accounts to facilitate the collection of payments due on delinquent accounts; actively manage all third party relationships that support both consumer loans and collections, partner closely with legal and compliance on all regulatory changes that impact lending, effective monitoring and quality control of consumer loans to ensure compliance with established guidelines, policies and procedures.
* Plans, organizes, and participates in the activities of a collection staff that is responsible for collecting money on delinquent accounts for a variety of loans; devising loan payment settlements for members; determining when loans will be turned over to attorneys for collection or foreclosures; managing the process of repossessing and auctioning vehicles; and making recommendations on accepting auction bids on vehicles.
* Partner closely with the credit card team on strategy to grow the credit card portfolio both organically and nationally. Support all other business partners on Teachers national expansion plans for consumer loan growth.
* Identify and develop the appropriate reporting across the consumer loans and collections units for reporting to senior management, actively participate in the weekly management meetings, seek out and make recommendations on best practices in both consumer loans and collections to senior management.
* Develop, oversee testing and adding of new consumer loan products and programs on the POS / LOS systems, support pricing changes in the system. Support all system upgrades on the existing LOS system for consumer loans and collections system for delinquent loans.
* Ensures compliance with all Federal and State regulations that are related to lending and loan servicing requirements.
* Oversees the response to more serious member complaints concerning loan approvals or declinations, investigates facts and allegations made, expedites a resolution and communicates directly with members to resolve the issue.
* Reviews and approves all employee loans to ensure confidentiality which involves reviewing loan applications with supporting documentation and approving loans based on established criteria.
* Ensures the best conclusion for at-risk loans by presenting the disposition of mortgage loans involving short sales to senior management for review and making recommendations, making recommendations to senior management on accepting the terms of deeds in lieu of foreclosure and forbearance loans and establishing the asking price on repossessed vehicles and makes the final determination on accepting a sale.
* Oversees the maintenance of properties owned by the Credit Union to minimize property damage and to ensure compliance with existing building codes, and works with realtors in support of the selling process.
* *Performs other duties inherent in a managerial role and as needed upon request by immediate supervisor
QUALIFICATIONS & EDUCATION:
* Bachelor's degree in a related field required.
* Minimum of ten years of lending experience with at least 5 years of management experience.
* Knowledge of lending principles and practices; Federal and state lending regulations and requirements, Collections practices, policies and procedures, bankruptcy and automated lending systems.
* Proficiency in Microsoft Excel and Word required.
* Strong oral/written communication, interpersonal, management, negotiating, analytical, problem-solving and multitasking skills, and detail orientation required.
* Requires National Mortgage Licensing System registration.
Benefits of Joining the Teachers Team:
We provide a competitive compensation and benefits package that includes, but is not limited to:
* Paid time off for vacation, personal days, and holidays
* Fully-funded pension plan
* 401(k) company contribution
* Teachers pays 100% of Dental & Vision premium
* Tuition reimbursement is offered to full-time employees
* Exclusive employee discount of 0.96% APR on credit card loans and a 1.00% APR on all other loans through Teachers
* Flexible hybrid schedule for eligible positions
The good faith range for this position is $165,000 to $230,000 annually. This range is an estimate, based on potential employee qualifications and operational needs. The salary may vary above and below the stated amounts, as permitted by applicable law.
All candidates will be subject to a background check, credit check, and drug test to determine employment eligibility.
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