VP Financial Assistance & Loan Servicing

Redwood Credit Union is seeking a Vice President of Financial Assistance & Loan Servicing who will Strategically plan, direct, and monitor all financial assistance and loan servicing activities for Redwood Credit Union (“RCU”). These activities include assisting Members with all post-funding loan activities that enable us to serve, mitigate loss and retain loan portfolios including, but not limited to residential, consumer, commercial and investor loan portfolios, and DMV services. In addition to servicing the portfolio, this role will direct strategy to serve delinquent Members. There must be an emphasis placed on providing excellent Member experiences, while minimizing loan-loss exposure through proper risk-based collection practices. Recruit, hire, develop and retain team members who understand and follow regulation and compliance while serving Members with dignity and empathy. Understand and provide analysis and proactive recommendation for loan portfolios and Members based on data, Member feedback, team member feedback, portfolio performance and outside economic factors.

 

o Review and identify cost-effective utilization of all resources. Build and maintain a high performing team by managing, mentoring, training, and providing support and guidance.
o Serve as a member of the Leadership team, providing leadership and direction for RCU.
o Communicate with senior management regarding all aspects of loan portfolio performance and trends, third-party vendor service levels, retail and business collection operations, recoveries, productivity, service levels, procedures, policies, and strategies.
o Protect RCU’s financial interest through effective loan loss mitigation and delinquency management for all business, consumer, mortgage loans, and negative depository accounts. Ensure proper filing of all UCC, Liens, and DMV title work is done in a timely and accurate manner to ensure RCU’s assets are protected, and excellent service is provided.
o Responsible for the overall strategy and performance of RCU’s debt collection operations including collections, repossession, foreclosures, recovery, and remarketing efforts in accordance with established Credit Union policies and
procedures, legal and NCUA regulatory guidelines while protecting the
Credit Union’s assets, financial interest, and reputation.
o Responsible for the overall strategy and performance of RCU’s loan servicing strategy and operations to include, but not limited to retention, DMV services, management of our mortgage subservicing partner (s), indirect Guaranteed Asset Protection refund process to comply with all regulations related to AB2311, credit reporting and all related disputes.
o Recognize problems, issues, and opportunities; evaluate and consider alternatives; develop, present, and recommend strategic and tactical opportunities; and make appropriate decisions to reduce risk. Attend and actively participate in Leadership Team meetings, All Team meetings, strategic and operational planning sessions, etc.
o Serve on and/or direct a number of committees to strive for consensus in order to ensure effective interface and communication of policies, programs, and goals among lending services, other departments, and branches.
o On behalf of RCU, “own” the relationships with key assigned partners, e.g., third party agencies, such as Temenos and Dovenmuehle. Additionally, provide leadership and participation in industry trade groups, advisory boards, etc.
o Participate in and represent RCU at internal and external events, conferences, and community functions.

 

o Recruit, select, train, motivate, coach, mentor, and evaluate reporting staff.
o Lead and direct RCU’s loan servicing and financial assistance activities and all collection/loss mitigation activities.
o Demonstrate solid knowledge, compliance and administration of federal and state laws associated with loan servicing, collection and bankruptcy codes and regulations.
o Provide exceptional service to all external and internal Members and clients.
o Assure timely and quality completion of strategic objectives by defining priorities, assigning key tasks, measuring results, and following through to ensure accountability.
o Continually assess the competitiveness of all programs, practices, and technology against the relevant comparable companies, industries, and markets; balance the needs of RCU and the needs of Members.
o Establish and maintain credibility throughout RCU by being an effective listener and problem solver for team members on all lending related issues.
o Continually evaluate efficiencies and monitor team member productivity with clear expectations, goals, inspection, and feedback.

 

o Delegate appropriate authorities to personnel, e.g., annual review of Financial Assistance Policy with the Board.
o Oversee all audits and quality control review processes to ensure they are completed in a timely manner, and processes are inspected and sustainable.
o Provide quantitative and qualitative analysis of credit performance and risk by working with Lending partners through the full lifecycle of a loan product including Origination, Servicing, Credit Risk, Collections, and Compliance.
o Review monthly loan activity and reports to maintain high credit-quality standards and ensure problem loans are satisfactorily resolved.
o After defining and assigning key tasks, establish measurement criteria for tracking results, assign priorities and resources, and perform regular follow-through.
o Establish and monitor reporting systems designed to keep the Senior Leadership Team (SLT) and Board of Directors informed of all relevant activities, risks, trends and issues, including timely preparation of monthly status reports.
o Monitor, manage and review the departments’ budgets.

 

o Assist to formulate plans and policies affecting the overall performance of RCU.
o Lead and develop the annual business and budgeting process for Financial Assistance and Loan Servicing to ensure appropriate integration with the long-term goals and objectives of RCU.
o Develop and implement processes and procedures to gain and maintain optimal efficiency and proper staffing for the Financial Assistance and Loan Servicing departments.

 

o Volunteer time and capital in community non-profit groups.
o Provide general training to RCU team members outside of the Financial Assistance team.
o Participate in community events, community volunteer boards & associations.

 

 

At Redwood Credit Union, our mission is to passionately serve the best interests of our Members and communities. Since 1950, we have been dedicated to supporting the financial well-being of our Members through better rates, low or no fees, and best-in-class customer service. Our purpose is to inspire hope and elevate the financial well-being of our communities one person at a time, through good times and bad.

 

As a not-for-profit financial institution, we are committed to a people-first approach, which is reflected not only in how we serve our Members, but also in how we treat our employees. Our leadership team is deeply focused on fostering a culture of heart and empathy, integrity, passion, inclusion, meaningful relationships, excellence, and ensuring financial well-being for all.