VP, Loss Mitigation Underwriter
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POST DATE 9/2/2016
END DATE 12/19/2016
JOB DESCRIPTIONPosition Summary:
This individual will have day to day accountability for processing and underwriting borrowers' requests for loss mitigation options. They will be responsible for formulating business strategies with the FVP, Loan Administration. This individual will help develop operating plans, procedures, and capacity to ensure proper and timely processing of accounts with a focus on anticipated business growth. The VP, Loss Mitigation Underwriting will complete projects and lead/develop teams to streamline processes and achieve the productivity, compliance, efficiency, and quality of a world class operation. In addition, this individual will be responsible for the oversight of reporting, compliance, and communication with both federal and state borrower assistance programs.
Vision and Direction:
Translate business vision and strategy into operational tactics and build the organizational support and infrastructure needed to achieve them.
Compliance, Productivity and Quality:
Ensure borrowers are treated consistently and properly throughout the application and loss mitigation evaluation process. Company policies and procedures are followed to ensure appropriate actions are taken within the time frames and quality levels required, and work is completed in accordance with company policies and procedures, investor guidelines, and state and federal laws
Develop industry leading processes with effective automation and controls that prevents non-compliance issues, provides consistent customer experience and drives operational efficiencies.
Establish strong operating metrics to monitor business effectiveness and develop a management process to utilize the metrics to drive operational improvements.
Work with Operational Risk to identify and mitigate risk and establish quality assurance processes.
Manage client portfolio according to guidelines, establish requirements and measures to ensure proactive action on loans and optimization of client's financial investment.
Build a high performing team with an overall connectedness to the department vision, focusing on associate care and development, clear communication, talent management, and frequent recognition.
Manage timely performance appraisals, goals, development plans on entire department.
Ensure corrective actions are administered timely and fairly.
Ensure department is sufficiently trained to perform duties.
Essential Functions and Responsibilities:
- Lead, coach, and develop a team of 2-3 direct reports and 15-20 indirect reports.
- Centralize and manage the opening and underwriting functions of Fay's loss mitigation campaigns, including loss mitigation application receipt and review, income calculation, and borrower qualification evaluation to ensure compliance, consistency, and efficiency
- Work with various departments to both create business requirements for and build new reports to ensure all key compliance and SLA steps are captured.
- Mitigates compliance risk by ensuring all compliance-related time lines pertaining to the receipt of borrower loss mitigation application acknowledgments and evaluations are met 100% of the time.
- Ensure the department adheres to all policies and procedures to ensure compliance with various regulatory, investor, government, and company requirements.- Document end-to-end processes to map out workflows and recommend improvements.
- Review, make recommendations for, and update/write new policies and procedures to increase quality, compliance, efficiency, and improve turn times.
- Develop comprehensive intra-departmental Quality Assurance plans, establish a consistent QA review routine, and ensure all results are reported to Fay's Quality Assurance and Quality Control departments on a monthly basis.
- Establish performance metrics to monitor staff productivity and work capacity, allowing for accurate allocation of human resources based upon volume growth.
- Establish and promote a positive work environment for all staff members.
- Conduct performance reviews, performance improvement plans and handle HR issues.
- Provide support to senior management and carry out assigned duties and projects.
- Stay abreast of updates to Agency loan modification programs that affect the accuracy and timeliness of loan modification documentation.