The Special Credits Retail Loan Manager is responsible for the management of the Collections and Homeowner Assistance Departments. The Collections Department is responsible for the management of collection activity on past due Mortgage and Consumer Loans and recovery efforts on all charged-off Mortgage and Consumer Loans. The Homeowner Assistance Department is responsible for early intervention, continuity of contact, and the processing, underwriting and decisioning of loss mitigation requests at WaFd Bank.
This position ensures timely and compliant work by effectively monitoring and prioritizing the workflow; adherence to laws and regulations; effective oversight of staff; and complying with WaFd Bank’s policies, standards and procedures.
Along with the key functions listed below, this position is expected to uphold the values of WaFd Bank.
ESSENTIAL DUTIES AND RESPONSIBILITES include the following. Other duties may be assigned:
Reinforces the application of superior customer service through his or her own example along with appropriate follow through with involved customers and employees.Manages the collection of past due loan products using effective collection tools and techniques in accordance with the Fair Debt Collection Practices Act and all applicable state and federal laws, rules and regulations and Bank lending policies and procedures.Manages the collection of past due residential loan products subject to loss mitigation using effective loss mitigation tools and techniques in accordance with the Fair Debt Collection Practices Act and all applicable state and federal laws, rules and regulations and Bank lending policies and procedures.Provide effective and clear communication, training and coaching to staff. Monitor performance as appropriate to ensure consistent with procedures and compliance requirements.Directly interacts with retail loan customers, realtors, attorneys, and bank personnel; oversees initial collection activity on past due loans and contact with troubled borrowers by the most effective means possible and forming a close working relationship.Performs loss mitigation underwriting; underwrites files for loss mitigation requests on customers and bank employee loans; creates updated underwriting and appeal worksheets to accommodate changes in requirements.Conducts various reporting functions; reconciles and balances the collection and foreclosure expense general ledger report; submits liquidation expense write-off amounts; creates reports for Credit Administration; creates ad-hoc reports as necessary for various trending analyses.Resolves loans to financially distressed borrowers by rehabilitation, or if not possible, by disengaging the borrowing relationship; conducts negotiations with borrowers for loan restructures and workouts to make the necessary judgments based on conditions presented to protect the Bank's interest and achieve maximum recovery.Reduces the number of non-accrual loans within the Bank’s distressed loan portfolio; analyzes and determines impact of bankruptcy filings; ensures protection of the Bank's position as a creditor; assists with the implementation of the recovery program; manages the liquidation of assets.Oversight of software and/or programs utilized specifically by the Department. Follows the Banks Information Security policies, ensuring that the processing and handling of all customer information and confidential bank information is done in a secure manner and environment within the department.Other duties as assigned or necessary to manage the Department.Monitors property and/or collateral condition through inspections as needed.Timely management of necessary legal action and other procedures related to:BankruptciesForeclosuresCreditor’s claims for deceased borrowers, when applicableOther legal action taken in the collection of a debt or to address other defaultsDevelops and maintains a working knowledge of banking laws and regulations by reading various publications and circulars; attends seminars and meetings with peers.Updates and corresponds with Compliance and Legal Departments to ensure all possible precautionary actions or measures are taken.Responds to inquiries or refers inquiries to the appropriate department or person and exhibits the necessary follow through with customers and/or staff involved.Consistently applies superior decision-making techniques pertaining to inquiries, approvals and requests as they apply to existing policies and procedures, keeping within assigned approval limits and using these instances as learning tools for employee development.Assumes responsibility for special projects; gathers data and prepares reports for Credit Administration, Internal Audit, Compliance and other departments.Processes, solves and answers complex customer transactions, problems or inquiries.Answers telephones, answers question and directs callers to proper Bank personnel.Treats people with respect; keeps commitments; inspires the trust of others; works ethically and with integrity; upholds organizational values; accepts responsibility for own actions.Demonstrates knowledge of and adherence to Equal Employment Opportunity (EEO) policy; shows respect and sensitivity for cultural differences; educates others on the value of diversity; promotes working environment free of harassment of any type; builds a diverse workforce and supports affirmative action.Completes administrative tasks correctly and on time; supports the Bank’s goals and values; benefits the Bank through outside activities.Performs the position safely, without endangering the health or safety to themselves or others and will be expected to report potentially unsafe conditions. The employee shall comply with occupational safety and health standards and all rules, regulations and orders issued pursuant to the OSHA Act of 1970, which are applicable to one’s own actions and conduct.Adherence to bank policies and procedures designed to comply with Federal regulations, including but not limited to the Bank Secrecy Act, USA Patriot Act and OFAC regulations.Complete and pass all assigned eLearning courses and certifications as required.Avoid all real or perceived conflicts of interest and always maintain client privacy and confidentiality. Qualifications
Education/Skills/Training/Experience:
Bachelor’s degree (BA) or equivalent from a college or university; years of related experience and/or training; or the equivalent combination of education and experience. Work related experience should consist of a financial analyzing or loan restructuring, workout and collection background. Educational experience, through in-house training sessions, formal school or financial industry related curriculum, should be business or financial industry related. Basic experience, knowledge and training in financial statement and tax return analysis typically resulting from a combination of education in accounting, financial and/or credit analysis or related areas.Intermediate experience, knowledge and training in all lending activities and terminology.Advanced knowledge of consumer residential real estate and other loan products and processing, including loan restructuring, workout and collection and creditor’s rights.Advanced knowledge of related state and federal lending and compliance laws and regulations, and other Bank lending policies.Basic knowledge of branch operation procedures, Bank products and services.Ability to read, analyze and interpret general business periodicals, professional journals, and technical procedures.Excellent organizational and time management skills.Basic skills in computer terminal and personal computer operation; host computer system; word processing, spreadsheet and specialty software programs.Intermediate typing skills to meet production needs of the position.Intermediate math skills; ability to calculate interest, commissions, proportions, and percentages; balance accounts; add, subtract, multiply and divide in all units of measure, using whole numbers, common fractions and decimals; locate routine mathematical errors; compute rate, ratio and percent, including the drafting and interpretation of bar graphs.Exceptional verbal, written and interpersonal communication skills with the ability to apply common sense to carry out instructions and instruct others, train personnel, write reports, correspondence and procedures, speak clearly to customers and employees.Ability to deal with complex problems involving multiple facets and variables in non-standardized situations.Ability to work with minimal supervision while performing duties. BenefitsAt WaFd Bank you get all of these great benefits!
Paid time off for vacation, sick days and holidaysHealth insuranceStock optionsBonus programsGenerous 7% 401(k) employer matching*Paid Parental LeaveLife and AD&D insuranceLong-term disabilityTuition ReimbursementEmployee assistance programsPre-tax health and dependent-care spending plansWaFd Bank Benefits Summary - Click here for more information
EEO StatementWe are committed to Equal Employment Opportunity and Affirmative Action. We recruit, hire, train and promote persons in all job titles and ensure that all other personnel actions are administered without regard to race, color, religion, sex, sexual orientation, gender identity, military and/or veteran status, or disability in accordance with Executive Order 11246, Section 503 of the Rehabilitation Act of 1973, as amended, and the Vietnam Era Veterans Readjustment Assistance Act of 1974, which require affirmative action to ensure equal opportunity in all aspects of employment. WaFd Bank does not discriminate on the basis of national origin or citizenship status as provided under the Immigration Reform and Control Act of 1986, or any other Federal or State legally-protected classes. WaFd Bank is committed to providing reasonable accommodations to employees and applicants with disabilities to the full extent required by the Americans with Disabilities Act (ADA). If you feel you need a reasonable accommodation pursuant to the ADA, you are encouraged to contact us at 800.324.9375
EEO is The Law - click here for more information
Equal Opportunity Employer Minorities/Women/Protected Veterans/Disabled
EEO Policy Statement - WaFd Bank
Know Your Rights: Workplace Discrimination is Illegal - click here for more information
Pay Transparency Nondiscrimination Provision - click here for more information
CCPA Notice at Collection for CA Employees and Applicants
Requisition Post Information* : Posted Date 2/13/2025 Options Apply for this job onlineApply via your Mobile deviceShareEmail this job to a friendRefer Sorry the Share function is not working properly at this moment. Please refresh the page and try again later. Share on your newsfeed Application FAQsSoftware Powered by iCIMS
www.icims.com