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Sunward · 5 months ago

Vice President, Special Assets Team

Juan Tabo Branch

Full-time

Onsite

Mid, Senior Level, Lead/Staff

12+ years exp

Sunward is seeking a Vice President for their Special Assets Team, responsible for managing Loss Mitigation and Asset Recovery teams while ensuring high-quality member service and regulatory compliance. The role involves overseeing team operations, developing loss mitigation strategies, and providing executive-level reporting on portfolio performance.

BankingFinancial ServicesNon Profit

Comp. & Benefits

Responsibilities

Where relevant, participates in the Credit Union’s strategic planning process, while building out a comprehensive Special Assets Team

In conjunction with managers/ supervisors, develops and implements comprehensive loss mitigation strategies to minimize delinquencies and bad debt while maintaining member goodwill

Responsible for watching emerging trends in the market while being proactive in developing and implementing strategies to minimize delinquency in accordance with our strategic and financial goals and member needs

Oversee the process of problem loan modifications and liquidation plan submissions for loan products (e.g., SBA) to seek the best possible outcome for the CU and borrower, while abiding by SOP rules of NCUA / SBA, where applicable

Maintains, and develops where needed, policies / procedures for the department including desktop manuals and training guides

In conjunction with managers/ supervisors, manages vendors to ensure execution of department deliverables to meet overall strategic objectives

Recommends new vendors for debt collection practices, asset recovery services, sale of bad debt and related legal actions

Oversees managers’/ supervisors’ daily operations of the loss mitigation and asset recovery departments, ensuring compliance with company policies and applicable legal requirements

Monitors and analyzes collections metrics to assess efficiency and effectiveness of processes and staff performance. Maintains the Special Assets Team dashboard

Provides oversight to processes for monitoring and reporting on aged accounts, past-due accounts, delinquencies and charge-offs through various analytical tools and dashboards

Develops and provides executive level monthly reports with analytics demonstrating enhancements to underwriting, dealer compliance and risk management of credit portfolios

Ensure timely and accurate reporting to loan officers, management, and the Board including reporting for the weekly past-due, monthly problem loans, quarterly asset quality, Loan Committee, and other reporting as necessary

Develops Quarterly Business Reviews showing business performance relative to business plans and strategic initiatives

Builds out, as volume increases, other teams within Special Assets for mortgage loan workouts and other consumer product workouts (e.g., hardship programs) in compliance with laws, rules and regulations

Responsible for Special Assets teams in the compilation of pertinent data, placement of contractors/ auditors, and management of expenses in workout situations

Analyzes data to report to Finance /Accounting on the financial deficiencies of non-performing loans and maintain/retain data and records on non-performing loans in Pass, Special Mention, and non-Performing status to support CECL and Call Reporting

Coordinate information flow between Special Assets teams and other CU personnel and/or departments as needed to manage problem accounts, primarily Portfolio Management and Loan Operations

Supports asset recovery teams’ supervisor /managers in the repurchase of collateral and liquidation of assets on non-performing loans. Report results and problems to management to minimize loss

With asset recovery teams’ supervisor /manager, manage internal and external resources required in the sale of repossessed assets, including personal property, business assets, vehicle inventory, and REO

Coordinate process for interaction with attorneys, business principals, and outside agents to limit exposure, fulfill requests for information, and communicate to all parties involved with non-performing loans

Ensure adherence to policies, procedures, and other appropriate compliance measures in handling Special Assets accounts

Distribute reporting to outside loan pool investors and act as primary contact regarding portfolio performance

Leads, motivates, and supports a large team within a time-sensitive and demanding environment

Oversight of negotiating delinquent accounts to secure payment arrangements in accordance with company policies

Collaborates with cross-functional teams, including risk, compliance, retail service, lending, and finance, to improve the member experience and address issues that contribute to payment delinquency

Establishes and maintains relationships with third-party collection agencies and legal counsel as necessary

Prepares and manages the department’s budget, ensuring cost-effectiveness and resource optimization

Lead risk reviews with Sr. Management addressing portfolio performance and collections efficiency metrics

Develops and enforces internal controls to reduce fraud and ensure adherence to collections policies and procedures

Creates and presents regular reports to executive management on the status of collections activities, including detailed analyses of high-risk accounts and recommendations for improving credit and collections processes

Performs other duties as assigned

Qualification

Collections strategiesConsumer lending knowledgeFinancial statement analysisLeadership experienceMicrosoft Office proficiencyAnalytical skillsNegotiation skillsTeam motivationConflict resolution skillsOrganizational skillsCommunication skills

Required

Excellent negotiation and conflict resolution skills

Excellent organizational skills and attention to detail

Strong proficiency with Microsoft Office applications. Familiar and comfortable with information technology, particularly digital means of communication

Strong organizational skills in managing multiple initiatives

Strong analytical and problem-solving skills

Proven ability to develop and implement effective collections strategies to maximize recoveries and reduce delinquencies

Thorough knowledge of consumer lending and SBA financing

Solid understanding of liquidation aspects of SBA SOP

Strong knowledge of consumer lending, and related collection practices

Extensive knowledge of accounting, financial statement analysis, cash flow, and credit workout/collections

Knowledge of financial and legal processes of all aspects of commercial lending

Solid sense of compliance needs, as they relate to FDCPA, SCRA and other regulatory requirements

Expertise in creating and presenting ideas to executive management

Three or more years in a management role, providing leadership, coaching, guidance and training, and contributing to staff development

Sense of urgency and understanding of timeliness on value to company

Works well with all team members and seeks holistic opportunities for continuous improvement

Ability to manage multiple projects/processes simultaneously and can act judiciously in ambiguous situations

Ability to make sound business decisions based on policies and procedures

Excellent oral/written communication, interpersonal, persuasive communication and presentation skills

Ability to lead by example and to motivate a team to reach a common goal

Ability to interface with all levels of management

Excellent organizational skills

Strong knowledge of federal, state, and local laws and regulations related to debt collection

Strong financial acumen with experience in budgeting, forecasting, and P&L management

Minimum 12 years' experience in collections, debt recovery, leadership or a closely related field

Minimum bachelor's degree in business administration, or related field, or more than 12 years of related experience

Company

Sunward

Sunward, formerly known as Sandia Laboratory Federal Credit Union (SLFCU), is one of New Mexico’s largest credit unions, serving over 160,000 members and managing more than $4.1 billion in assets.

Founded in 1948

Albuquerque, New Mexico, USA

501-1000 employees