What are the responsibilities and job description for the Vice President of Loss Mitigation position at Blue Federal Credit Union (Blue)?
Blue Federal Credit Union (Blue) seeks a transformational leader who can execute strategic goals as the next Vice President of Loss Mitigation:!
Reporting to the Senior Vice President of Lending, the Vice President of Loss Mitigation drives collection activities and loss mitigation strategies that meet the Credit Union's strategic vision. This role will leverage data and advanced analytics to control losses while keeping the member experience at the forefront. This individual will plan and direct the development of collections and loss prevention programs that provide maximum protection of the organization's assets at the most economical rates and ensure compliance with applicable regulations. As the incoming leader, the Vice President will deploy strategies that ensure losses are effectively managed and appropriately utilizing budget and forecasting tools. The incumbent will provide a practical apparatus in place for the management and escalation of delinquent loans/accounts, including workout loans, extensions, and charge-off recommendations. The Vice President is the senior liaison to legal counsel relating to delinquent accounts and related repossession activities and accountable for managing all third-party service providers and product lifecycle for collections and loss mitigation.
Must have eight to ten years of similar or related experience, including preparatory experience leading outsourced and internal collections and recovery operations, including evidence of strategic planning and fulfillment of organizational goals. A Bachelor's degree in Finance, Economics, Risk Management, or a related field is required. The incoming Vice President will bring a motivational and influential leadership style, requiring a significant level of influence and trust.
Blue Federal Credit Union::
Blue Federal Credit Union (Blue) has celebrated over 70 years of being a lifelong champion for its members. Originally chartered in 1951 as Warren Federal Credit Union by a group of civilian personnel at F.E. Warren Air Force Base, Blue merged with a successful Colorado-based credit union with nearly 50 years of its rich history together to become an organization that empowers its members to tap into the potential of their money, life, and community. In 2020, another opportunity for growth occurred when two branches, formerly known as Liberty Savings Bank, were acquired.
Headquartered in the heart of Cheyenne, Wyoming, Blue has over 153,000 members worldwide and over $2.1 billion in assets.:
