Loss Mitigation Manager

Overview

Loss Mitigation Manager at TTCU Federal Credit Union. This role leads the Collections and Recovery team across early delinquency through recovery of charged-off accounts, ensuring compliance, driving performance, and promoting member service and continuous improvement.

The Manager of Collections and Recovery is responsible for leading and developing a team focused on consumer loan collections and recovery activities. This role oversees strategies and daily operations from early-stage delinquency through pre-repossession, as well as recovery of charged-off accounts. The manager ensures compliance with applicable regulations, drives performance to meet portfolio goals, and creates a culture of accountability, member service, and continuous improvement.

30% Leadership and Team Management

• Lead and supervise the collections and recovery teams, including hiring, coaching, performance management, and professional development.
• Foster a positive and engaged team culture that emphasizes accountability, service, and continuous improvement.
• Provide ongoing training and support to ensure staff are equipped to meet performance and compliance standards.

25% Collections Oversight (Early Stage to Pre-Repossession)

• Oversee early-stage through late-stage delinquency collections, ensuring accounts are worked efficiently and consistently.
• Develop and implement strategies for reducing delinquency, improving contact rates, and supporting member repayment solutions.
• Manage workflows and escalation protocols up to the point of referral to the repossession team.
• Direct the recovery program for charged-off loans, including settlements, payment arrangements, and legal actions when necessary.
• Partner with legal counsel and external vendors to support collection strategies and maximize recoveries.
• Ensure recovery processes balance regulatory compliance, member treatment standards, and financial performance.
• Monitor performance metrics and department scorecards to meet delinquency, loss mitigation, and recovery targets.
• Recommend and implement process improvements, technology enhancements, and workflow strategies to increase efficiency and improve member experience.
• Prepare and present reporting on collections and recovery performance to senior leadership.
• Partner cross-functionally with lending, servicing, and risk management teams to align strategies and support organizational goals.

10% Compliance & Risk Management

• Ensure compliance with all state and federal collection regulations (FDCPA, FCRA, UDAAP, etc.) and internal policies.
• Monitor and audit account handling practices to safeguard against compliance risks.
• Serve as a subject matter expert on collection regulations and industry best practices.

Educational Requirements

Bachelor’s degree in business, finance, or a related field preferred; equivalent work experience will be considered.

Certificates/Licenses

Must have and maintain valid driver's license. Must have a clean driving record; an annual MVR will be pulled to ensure compliance.

• 5+ years of experience in consumer loan collections or recovery, with evidence of progressively increasing responsibility.
• Demonstrated leadership ability, either through formal supervisory experience or informal leadership such as mentoring peers, leading projects, or training others.
• Strong knowledge of collection and recovery processes from early delinquency through post charge-off.
• Understanding of applicable laws and regulations, including FDCPA, FCRA, UDAAP, and NCUA guidance.
• Excellent communication, negotiation, and conflict resolution skills, with the ability to balance firmness and member service.
• Proficiency with collections platforms, reporting tools, and Microsoft Office Suite (Excel, Word, Outlook, PowerPoint).
• Analytical mindset with the ability to interpret performance metrics and make data-informed decisions.

Preferred Experience

• Formal supervisory or management experience leading a collections or recovery team.
• Experience working in a credit union or community banking environment.
• Familiarity with Temenos Collections, Akuvo, FIS, or similar collections management systems.
• Background in managing vendor relationships, including legal firms or third-party collection agencies.
• Experience implementing process improvements and leveraging technology to improve efficiency and compliance.
• Leadership style that emphasizes accountability, team culture, and cross-department collaboration.

Maintains effectiveness when experiencing major changes in the work environment; adjusts effectively to new work structures, processes, or requirements.

Develops others through coaching, feedback, and stretch goals; strong focus on career development aligned with organizational needs.

Job Knowledge

• Strong organizational skills with attention to detail and accuracy in documentation and reporting.
• Ability to leverage performance metrics and technology to drive process…