Default Manager

Job Description

Job Summary:

The Default Manager is responsible for overseeing and managing the operations of the Bankruptcy, Property Preservation, Claims, REO, Default Reporting, and other assigned default teams. This role ensures effective handling of default-related processes, with a focus on mitigating risks, protecting company assets, maintaining compliance with regulatory requirements, and ensuring accurate and timely default reporting. The Default Manager will lead cross-functional teams to meet performance goals while upholding the company's core pillars: Leadership, Raving Fans, Transparency, and High Performance. Through strong leadership, collaboration, and a commitment to operational excellence, the Default Manager will drive strategic outcomes that support the organization's long-term success and customer-centric values.

Core Competencies:

• Maintains highest level of professional behavior at all times even in stressful situations. Avoids behaviors, comments, and conversations that harm morale, productivity, customer satisfaction and teamwork.
• Meets confidentiality requirements related to company, customer and financial information.
• Communicates in writing, verbally and via email in a clear and positive way. Meets policy requirements governing communication content.
• Meets high-productivity requirements and constantly evaluates and prioritizes work throughout the day to meet frequent deadlines.
• Takes ownership of work and completes tasks projects accurately. Reviews and proofreads work thoroughly.
• Works well in a fast-paced team environment and communicates regularly with other team members to ensure deadlines are met.
• Remains up to date on best practices relevant to the position and uses work hours productively.

Supervisor Responsibilities:

• Leadership & Team Management: Provide direction and oversight to the Bankruptcy, Property Preservation, Claims, REO, Default Reporting, and other default teams. Ensure that all teams operate efficiently and in alignment with company goals, fostering a culture of high performance and accountability.
• Mentorship & Development: Coach and mentor team members, providing continuous feedback, fostering professional growth, and ensuring a pipeline of skilled professionals. Cultivate an environment that encourages learning and development, in line with company pillars of Leadership and Raving Fans.
• Performance Management: Establish performance goals for each team and individual members, consistently monitor progress, and implement improvement plans as needed. Ensure that the team meets or exceeds departmental KPIs while maintaining service excellence.
• Cross-Departmental Collaboration: Work closely with other departments, such as Legal, Compliance, and Customer Service, to ensure cohesive operations and communication. Facilitate transparency and collaboration across departments, aligning with the company’s core pillar of Transparency.
• Strategic Planning & Execution: Develop and implement strategies to improve operational efficiency, compliance, and overall performance within the default areas. Drive initiatives that enhance the customer experience, ensuring all processes reflect the company’s focus on Raving Fans.
• Reporting & Compliance Oversight: Ensure accurate and timely reporting of all default activities, including regulatory and investor reports. Regularly audit processes to ensure compliance with all federal, state, and investor guidelines, supporting the company’s High Performance pillar.
• Problem Solving & Conflict Resolution: Handle escalations and complex cases, working to resolve issues efficiently and maintain service quality. Ensure all team members are equipped with the tools and knowledge to resolve challenges independently, promoting operational integrity.

Essential Duties:

• Oversee Default Operations: Manage the day-to-day operations of Bankruptcy, Property Preservation, Claims, REO, Default Reporting, and other assigned default teams. Ensure all functions are performed in compliance with internal policies, regulatory requirements, and investor guidelines.
• Default Process Management: Develop, implement, and monitor processes for each default area to maximize efficiency and effectiveness. Continuously improve workflows to minimize risk, expedite recovery, and enhance performance metrics.
• Default Reporting: Ensure the accurate and timely preparation of all required reports, including those for investors, regulators, and internal stakeholders. Oversee the reconciliation of default-related data and maintain accountability for reporting accuracy.
• Risk Mitigation & Compliance: Maintain up-to-date knowledge of applicable laws, regulations, and investor requirements. Implement risk management strategies to mitigate operational, legal, and financial risks associated with default servicing, ensuring compliance at all levels.
• Collaboration with Legal & Compliance: Partner with the legal and compliance teams to ensure all default processes are aligned with legal requirements and industry standards. Respond to audits, ensuring all documentation and processes meet regulatory scrutiny.
• Team Leadership & Development: Lead and inspire the default teams, ensuring consistent performance management and professional development. Provide training, coaching, and mentorship to empower team members to meet both personal and departmental goals.
• Vendor & Partner Management: Collaborate with external vendors and service providers, such as property preservation companies and REO agents, to ensure quality service delivery. Negotiate contracts and oversee vendor performance to optimize costs and results.
• Strategic Initiatives: Participate in the development and execution of departmental strategies, aligning with organizational goals. Implement initiatives that reduce losses, improve timelines, and enhance the borrower experience, reflecting the company’s pillars of Leadership and Raving Fans.
• Problem Resolution: Address and resolve escalated issues related to default cases, ensuring timely and satisfactory outcomes. Facilitate communication across teams to address challenges and prevent future occurrences.
• Data Analysis & Reporting: Analyze key performance indicators (KPIs) and financial data related to default servicing. Use data insights to guide decision-making, improve processes, and ensure the company is operating in line with its pillar of High Performance.
• Operational Integrity: Ensure that all default operations maintain a high level of operational integrity, including adherence to company standards, policies, and the values outlined in the company pillars: Leadership, Raving Fans, Transparency, and High Performance.

Education and Experience

• Bachelor’s degree in Business Administration, Finance, Accounting, or a related field is preferred. Equivalent experience in default servicing, mortgage servicing, or a relevant area may be considered in lieu of formal education.
• Minimum of 5-7 years of experience in mortgage servicing, with a strong focus on default areas such as Bankruptcy, REO, Claims, Property Preservation, or Default Reporting.
• Proven experience managing and leading cross-functional teams in a fast-paced, results-driven environment.
• In-depth knowledge of default servicing regulations, investor requirements, and compliance standards, including FHA, VA, USDA, and GSE guidelines.
• Strong background in developing and implementing operational strategies to improve default servicing performance and mitigate risk.
• Experience working with external vendors and service providers related to default servicing (e.g., property preservation companies, REO agents).
• Demonstrated success in analyzing data, preparing reports, and driving improvements through performance metrics.
• Exceptional leadership skills with experience in coaching, mentoring, and developing teams.
• Proven ability to collaborate with legal, compliance, and other internal stakeholders to ensure alignment with regulatory and operational goals.
• Familiarity with mortgage servicing technology platforms and tools is a plus.

Computer and Equipment Skills

• Intermediate in Microsoft Office programs (Word, Excel, PowerPoint)
• Word processing (speed and accuracy)
• MSP or FICS’ Mortgage Servicer a plus
• Email
• Internet software
• Use typical office equipment (computers, fax, phones, copiers, scanners, projectors, etc.)

Physical Requirement:

• Vision (with or without correction) sufficient to read a computer screen and to operate office equipment
• Clear speaking voice on the telephone, in person, and recorded
• Hearing within normal ranges in noise environments typical of office
• Able to sit for long periods of time at computer or other work-station and in meetings
• Able to use computers and operate equipment
• Able to lift 10 pounds occasionally unassisted

EEO Statement: As part of our dedication to the diversity of our workforce, Essex Mortgage is committed to a policy of Equal Employment Opportunity and will not discriminate against an applicant or employee on the basis of race, color, religion, national origin or ancestry, sex, gender, gender identity, gender expression, sexual orientation, age, physical or mental disability, medical condition, marital/domestic partner status, military and veteran status, genetic information or any other legally recognized protected basis under federal, state or local laws, regulations or ordinances.

Qualifications