AVP, Recovery Strategy and Sales

AVP, Recovery Strategy And Sales

At VyStar, we offer competitive pay, an excellent benefit package that includes a 401(k) Plan, an extensive paid technical and on-the-job training program, and tuition reimbursement--available to all full and part time employees. Part time positions start at a minimum of 30 hours per week. We encourage you to become a part of VyStar Credit Union's family of employees.

The incumbent in this position is responsible for all facets and management of Recovery Strategy & Sales to include debt sales, agency management, CUSO (Credit Union Service Organization) administration, and post charge-off collection efforts within the Member Solutions Department. The AVP, Recovery Strategy & Sales directs the managers, supervisors, and teams in achievement of exceptional member service, operational quality, and achievement of organizational goals. Oversees the various call center environments, post charge-off collections efforts, legal strategies, and debt sale/agency management. Leads the department with a demonstrated high-level knowledge of business management, mergers & acquisitions, collections technology, advanced analytics, AI learning, robotic technology, regulations, functional expertise, and employee engagement focus. The AVP, Recovery Strategy & Sales ensures adherence to collections policies and procedures in conjunction with state/federal laws and regulations pertaining to Consumer, Commercial & Mortgage product lines. Therefore, the incumbent will need a vast knowledge of the following regulations and agencies, Consumer Financial Protection Bureau (CFPB), Equal Credit Opportunity Act (ECOA), Truth in Lending Act, Real Estate Settlement Procedures Act (RESPA), Federal Housing Administration (FHA), Veteran's Affairs (VA), Fannie Mae (FNMA), Telephone Consumer Protection Act (TCPA), Servicemembers Civil Relief Act (SCRA), Fair Credit Reporting Act (FCRA), Fair Debt Collections Practice Act (FDCPA), Unfair Deceptive Abusive Acts and Practices (UDAAP) and State/Federal Bankruptcy Laws. Incumbent must understand how Artificial Intelligence (AI), machine-learning, Advanced Data Analytics, and Robotics Process Automation (RPA) can maximize efficiency, service, and lead to optimal employee and member experiences. Such results will be essential in evaluating staff, mergers & acquisitions, adherence to KPI's and determine training opportunities where applicable.

Essential Responsibilities

• Serve as a thought partner with VP Member Solutions & Loss Mitigation and SVP Loan Administration to develop and design Recovery strategy that aligns to overall corporate strategy and goals
• Administration and development of CUSOs and subservicing pipelines to increase income revenue in alignment with Annual Operating Plan (AOP) requirements. Responsible for effective communication with senior management on all facets of the CUSO administration, debt sale process and post-charge-off strategy and performance.
• Works in conjunction with the Risk Compliance & Decision Support Analyst & VP, Member Solutions & Loss Mitigation for setting the annual delinquency, sale and post charge-off recovery forecast and budget based on desired AOP projections.
• Leads and oversees the Member Solutions Department to ensure that loan loss and delinquency goals meet or exceed strategic planning goals, while maintaining risk level tolerances. Assist in the development of internal controls that prevent future errors to mitigate identified risks. Implements plans, programs and work processes and procedures necessary to achieve desired results; coordinates and integrates functions within the department and across the Credit Union.
• Maintain thorough knowledge of regulatory requirements and VyStar's lending policies associated with Consumer, Commercial and Mortgage products. Responsible for strategic implementation to improve technology and drive business results.
• Identify and recommends solutions to issues the company will and is facing due to the expansion through M&A
• Establishes performance requirements and objectives for staff; monitors and evaluates their performance through daily, weekly, monthly reporting; finds ways to recognize performance; addresses performance deficiencies and reviews disciplinary action, if warranted, in accordance with Credit Union's policies and procedures.
• Acts as a liaison with attorneys and third-party vendors; carries out contract reviews; Directs, analyzes, and monitors all activities related to CUSO administration, post charge-off recovery, legal remedies, debt sales and other means of maximizing income to VyStar.
• Annually evaluates vendor performance and financial stability in alignment with contract renewals or renegotiation of relationship. Analyzes new vendors, products, and services and ensures department readiness for execution.
• Oversight of all post charge-off referrals, litigation, and debt sales of post charge-off and bankruptcy accounts within each assigned portfolio.
• Periodically attend Small Claims Court and other Collections related court hearings as a representative of VyStar Credit Union on scheduled court dates seeking judgments or stipulation agreements in the absence of the Manager/Supervisor.
• Primary liaison between VyStar Credit Union with current or potential debt buyers. Perform due diligence on prospective new debt buyers. Responsible point of contact for the coordination of portfolio sales and inventory management.
• Will present to Department Leadership monthly, CUSO, inhouse recovery, legal/agency and debt sale performance including any areas of opportunity identified. Ensures accuracy and timeliness of all Policy Committee reporting.
• Consistent coordination and communication with VP Member Solutions & Loss Mitigation, SVP Loan Administration, and Chief Lending Officer regarding credit quality issues.
• Demonstrates an ongoing comprehensive working knowledge of regulations governing the collections industry. Responsible for year-end tax reporting for IRS and to ensure that comprehensive reconciliation processes are in place to ensure compliance. This requires strong familiarity with 1099C & 1096 reporting, cancellation of debts as defined by the IRS and ensuring timely filing with IRS.
• Performs other duties as assigned.
• All employees and business units, as first line of defense, are expected to proactively help identify, assess, manage, and report risks within their domain of work. To enhance a healthy risk culture and support our growth for good pillar, employees will maintain vigilance in safeguarding our operations while ensuring compliance with regulatory mandates. The Risk team serves as the second line of defense by providing risk oversight and credible challenge whereas the Audit team serves as the third line of defense by providing risk assurance.

Incumbent Is Expected To Demonstrate Each Of The Following VyStar Excellence Behaviors In Performing The Duties And Responsibilities Of Their Job:

• Focus - Focus your full attention by carefully listening to and observing client or member.
• Connect - Consistently be friendly and approachable. Demonstrate your care.
• Understand - Listen empathetically and ask questions (70%/30% rule).
• Counsel - Recommend solutions based on your member's needs and objectives.
• Advance - Ensure that member's expectations were exceeded.
• Verify necessary follow-up actions.

Job Qualifications

Education

• A Bachelor's degree is required in a business-related field or 8+ years of equitable experience.
• Continuing education via local conferences, workshops, and webinars is required for updates and/or changes in the handling of the Consumer, Mortgage & Commercial loans governed federal and state regulations. Incumbent must maintain knowledge on all current requirements, industry changes and routinely share that knowledge with all staff members.

Experience

• A minimum of five years of management experience of which 3 years in a debt collections environment is required.
• Experience in mortgage, call center or customer service environment with a financial institution is preferred.

Knowledge, Skills & Abilities

• Experience with developing other leaders is preferred.
• Ability to define problems, aggregate facts and draw valid conclusions.
• Strong ability to assess, automate, and simplify with little direction.
• Strong process mindset to create structure and set clear direction and expectations.
• Knowledgeable in collections systems and applied technology with the ability to learn new systems.
• Strong knowledge of all laws and regulations associated with consumer rights and collections.
• Computer literacy is required. Advanced proficiency in Microsoft Office products such as Excel, Power Point and Word is required.
• The successful candidate for this job should have the ability to interact effectively with members, employees, and management, to ensure smooth workflow and provide efficient and consistent results.
• A congenial attitude in dealing with people, and well-developed verbal and written communication skills are a must.
• First Data Resources (FDR)/Fiserv experience, preferred.
• Spanish -speaking skills are highly preferred.

Disclaimers And Work Environment

Nothing in this position description is an implied contract for employment. The position description is intended to be an accurate account of the essential functions. The functions are not all encompassing and are subject to change at any time by management.

The work environment characteristics described are representative of those that an employee encounters