Director of Loss Mitigation

Summary

The Director of Loss Mitigation is responsible for overseeing all aspects of repossession, remarketing, and post-charge-off recovery operations. This role ensures optimal financial performance by managing vendor relationships, leveraging data and technology to drive efficiency, and ensuring compliance with all regulatory and procedural requirements. The Director utilizes advanced analytics to assess performance, identify operational gaps, and implement strategic initiatives to maximize recovery rates, minimize losses, and optimize asset disposition.

Essential Duties and Responsibilities

Primary responsibilities include, but are not limited to:

• Lead, train, and develop a high-performing team to manage repossession, remarketing, and post-charge-off recovery efforts for both active and charged-off accounts.
• Oversee and optimize vendor relationships with repossession agencies, auction houses, and legal recovery firms, ensuring adherence to performance standards, pricing strategies, and compliance requirements.
• Drive repossession efficiency by balancing risk mitigation with maintaining customer engagement on active accounts, ensuring timely asset recovery while minimizing unnecessary losses.
• Maximize remarketing performance by developing pricing strategies, optimizing auction placement, and leveraging market data to drive competitive vehicle sales outcomes.
• Leverage technology and analytics to enhance liquidation strategies, optimize asset management, and improve overall recovery performance.
• Monitor and forecast workload, allocating resources strategically to ensure efficiency and cost-effectiveness across all recovery functions.
• Ensure compliance with regulatory requirements, internal policies, and legal guidelines related to repossession, remarketing, and post-charge-off recovery.
• Analyze key performance indicators to identify trends, develop strategic initiatives, and drive continuous operational improvements.
• Collaborate with internal stakeholders, including Legal, Compliance, Finance, and Senior Management, to align strategies with business objectives.
• Manage operational expenses related to repossession, legal actions, and remarketing to ensure cost-effective execution.
• Ensure timely performance evaluations and incentive tracking to foster accountability and ongoing development.
• Perform other duties as assigned.

Competencies

To perform the job successfully, an individual should demonstrate the following competencies:

• Business Acumen: Understands business implications of decisions; displays orientation to profitability; demonstrates knowledge of market and competition; aligns work with strategic goals.
• Conceptual Thinking: Generates creative solutions. Translates concepts and information into images. Applies design principles. Uses feedback to modify designs. Demonstrates attention to detail
• Customer Service: Responds promptly to customer needs; solicits customer feedback to improve service; responds to requests for service and assistance.
• Interpersonal: Focuses on solving problems, not blaming. Maintains confidentiality. Listens to others without interrupting. Keeps emotions under control. Remains open to others’ ideas and tries new things.
• Judgment: Displays willingness to make decisions; exhibits sound and accurate judgment; supports and explains reasoning for decisions; includes appropriate people in decision-making process; makes timely decisions.
• Managing People: Includes staff in planning, decision-making, facilitating and process improvement; takes responsibility for subordinates' activities; available to staff; provides regular performance feedback; develops subordinates' skills and encourages growth; solicits and applies customer feedback (internal and external); fosters quality focus in others; improves processes, products and services; continually works to improve supervisory skills.
• Oral Communication: Speaks clearly and persuasively in positive or negative situations; listens and gets clarification; responds well to questions; demonstrates group presentation skills; participates in meetings.
• Planning/Organizing: Prioritizes and plans work activities; uses time efficiently; plans for additional resources; sets goals and objectives; organizes or schedules other people and their tasks; develops realistic action plans.
• Problem Solving: Identifies and resolves problems in a timely manner; gathers and analyzes information skillfully; develops alternative solutions; works well in group problem solving situations; uses reason even when dealing with emotional topics.
• Stress Tolerance: Performing well when faced with pressure due to time frame, workload, adversity, disappointment, or opposition.
• Written Communication: Writes clearly and informatively; edits work for spelling and grammar; varies writing style to meet needs; presents numerical data effectively; able to read and interpret written information.

Qualifications

To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed below are representative of the knowledge, skill, and/or ability required. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

• Demonstrated proficiency in managing and motivating a team of subordinate department managers.
• Excellent written and verbal communication skills; strong organizational, problem-solving, and analytical skills.
• Strong interpersonal skills and ability to deal effectively with a diversity of individuals at all organizational levels.
• Proven ability to manage and meet deadlines for multiple concurrent projects.
• Proven versatility and flexibility to enthusiastically manage constantly changing priorities and workflow.
• Ability to work with all levels of management.
• Good judgment with the ability to make timely and sound decisions.

Education/Experience

• Bachelor’s degree (B.A. /B.S.) or AA in business related discipline or equivalent (preferred).
• Minimum of ten (10) years prior senior management experience within the Collections/Auto Finance sector.

Supervisory Responsibility

Will have supervisory oversight of Collections Managers and Agents.

Language Ability

Ability to clearly and effectively communicate in person, in writing and by telephone.

Computer Skills

Proficient in use of MS Office - Word, Excel, PowerPoint, Visio, Project, Access, SharePoint

Certificates and Licenses

None Required

Work Environment

The work environment characteristics described here are representative of those an employee encounters while performing the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions. The noise level in the work environment is usually quiet.

Physical Demands

The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

While performing the duties of this Job, the employee is regularly required to sit. The employee is occasionally required to walk.

Job Type: Full-time

Pay: $140,000.00 - $160,000.00 per year

Benefits:

• 401(k)
• Dental insurance
• Health insurance
• Paid time off
• Vision insurance

Schedule:

• Monday to Friday
• Overtime

Experience:

• Loss Mitigation: 5 years (Required)
• Repossession: 4 years (Required)
• Vendor management: 3 years (Required)

Ability to Commute:

• Fort Worth, TX 76137 (Required)

Ability to Relocate:

• Fort Worth, TX 76137: Relocate before starting work (Required)

Work Location: In person

Salary : $140,000 - $160,000