THE ROLE

The Manager – Loan Servicing, Loss Prevention & Fraud is responsible for protecting the Credit Union’s assets, reducing financial losses, and supporting a consistent, compliant, and member-focused servicing experience.

This position oversees the Credit Union’s fraud prevention and loss mitigation initiatives, dispute and claims processes, applicable regulatory requirements, technical collections toolkit, and loan servicing operations. The Manager leads efforts to identify, prevent, investigate, and recover losses related to fraud, delinquency, charge-offs, repossessions, and other credit or operational risks.

The Credit Union intends to outsource a portion of its loan servicing activities. Accordingly, this position will oversee the outsourced service relationship while also managing an internal loan servicing team focused primarily on early-stage collections and servicing support for loans that are less than 60 days delinquent. The Manager is accountable for maintaining effective controls, service levels, vendor performance, regulatory compliance, and coordination between the outsourced provider and internal Credit Union teams.

FUNCTIONS & RESPONSIBILITIES

Loan Servicing, Collections and Loss Recovery:

Lead the Loan Servicing team and oversee daily servicing and collection activities.
Manage early-stage collection efforts for loans less than 60 days delinquent.
Establish contact strategies, assess borrower circumstances, and arrange approved payment solutions.
Use analytics to improve segmentation, account prioritization, contact strategies, payment arrangements, cure rates, recoveries, and efficiency.
Monitor delinquency trends and escalate accounts requiring loss mitigation, legal, repossession, bankruptcy, or charge-off action.
Ensure accurate documentation of collection activity, payment arrangements, disputes, and account status.
Identify servicing, lending, or member trends that may contribute to delinquency or loss.
Prepare bankruptcy documentation and support legal proceedings, as needed.
Coordinate repossession, collateral disposition, recovery activities, and when applicable, the transfer of accounts to outsourced servicing, collections, repossession, or recovery functions.
Manage relationships and workflow with third-party late-stage collections providers.

Fraud and Loss Prevention:

Lead the Credit Union’s enterprise-wide fraud and loss prevention strategy.
Establish policies, procedures, controls, and performance standards to reduce fraud and operational losses.
Monitor trends involving identity theft, account takeover, scams, payment, card, check, deposit, loan, and digital banking fraud.
Oversee the investigation, documentation, escalation, and resolution of suspected fraud.
Partner with business units to strengthen fraud prevention and detection controls.
Evaluate emerging threats and recommend changes to systems, processes, controls, training, and member education.
Use data, analytics, automation, artificial intelligence, and other technology to improve fraud prevention and loss mitigation.

Disputes, Claims, and Regulatory Compliance:

Oversee dispute and claims processes and ensure timely, accurate, and member-focused resolution.
Maintain procedures for investigations, documentation, provisional credits, adjustments, recoveries, determinations, and member communications.
Ensure compliance with applicable laws, regulations, payment network rules, servicing requirements, and Credit Union policies.
Coordinate with Compliance, Legal, Internal Audit, Risk Management, and service providers on audits, examinations, complaints, and corrective actions.
Maintain complete records supporting servicing, collections, disputes, fraud investigations, regulatory reporting, and audits.
Ensure servicing, collection, fraud, and recovery activities are conducted legally, ethically, and consistently.

Leadership and Department Management:

Hire, train, schedule, coach, and evaluate assigned employees.
Maintain a skilled internal team focused on early-stage collections and servicing coordination.
Establish department goals, procedures, controls, training, and performance standards.
Evaluate and implement technology supporting early intervention, communications, workflow management, payments, servicing oversight, and loss mitigation.
Promote accountability, collaboration, innovation, continuous improvement, and ethical decision-making.
Partner with Collections, Lending, Information Technology, Data and Analytics, Compliance, and vendors to improve servicing and collection strategies.
Prepare reports and recommendations for executive management and applicable committees.

PERFORMANCE MEASUREMENTS

Maintain delinquency, charge-off, fraud loss, and other loss metrics within budget and strategic plan expectations.
Maximize collections, recoveries, cure rates, and loss mitigation results for delinquent, charged-off, fraudulent, repossessed, and impaired accounts.
Ensure effective collection activity for loans less than 60 days delinquent, including timely member contact, documentation, payment arrangements, and escalation.
Ensure outsourced loan servicing meets service-level agreements, quality standards, compliance requirements, reporting expectations, and performance goals.
Reduce fraud exposure through effective controls, investigations, technology, analytics, employee training, and member education.
Ensure loan servicing, collections, disputes, fraud prevention, and loss recovery activities comply with applicable laws, regulations, Credit Union policies, and contractual requirements.
Maintain accurate, timely, and complete servicing, collection, dispute, fraud, vendor, and regulatory records.
Use technology, reporting, and analytics to improve fraud prevention, servicing oversight, collections, efficiency, and loss mitigation.
Maintain a capable internal team and effectively manage vendor performance, accountability, communication, and issue resolution.
Provide timely, accurate, respectful service and keep management informed of material risks, trends, vendor issues, operational concerns, and improvement opportunities.

KNOWLEDGE & SKILLS

Experience: Five to eight years of progressively responsible experience in financial services, with substantial experience in loan servicing, collections, fraud prevention, loss prevention, disputes, payment operations, risk management, or a related field. Experience leading fraud and loss prevention initiatives is strongly preferred. Experience overseeing outsourced operations, third-party servicing providers, or vendor-managed financial services activities is preferred.

Education: Bachelor’s degree in business administration, finance, risk management, criminal justice, information systems, or a related field preferred. A high school diploma or GED combined with relevant experience may be considered.

Interpersonal Skills: A significant level of trust, discretion, and diplomacy is required. The position involves extensive personal contact with members, employees, management, vendors, attorneys, regulators, and other external parties, often regarding sensitive financial or personal matters. The Manager must be able to motivate, influence, coach, and train others; build effective relationships; resolve conflicts; communicate difficult decisions; and promote cooperation among internal departments and external service providers.

Regulatory & Compliance: The Manager is responsible for understanding, adhering to, and complying with applicable laws and regulations and the Credit Union’s policies and procedures, including requirements related to:

Bank Secrecy Act and Anti-Money Laundering;
Fraud prevention and suspicious activity reporting;
Consumer protection and fair lending;
Loan servicing and collections;
Electronic payments and payment disputes;
Privacy and protection of member information;
Vendor and third-party risk management; and
Records retention and regulatory examination requirements.

The Manager is responsible for reporting suspicious activity, suspected fraud, compliance concerns, control weaknesses, and other reportable matters to the appropriate authority in accordance with Credit Union policies and procedures

Other Skills: A strong knowledge of financial crimes, fraud schemes, and applicable laws and regulations is required. Strong communication skills, both written and verbal, with the ability to present to senior management and the board. Strong time management; ability to manage multiple workloads with successful results; ability to work independently; organizational skills, excellent verbal and written communication skills, listening skills, Excellent analytical and problem-solving skills with the ability to interpret complex data; proficiency in fraud detection software and data analysis tools

PAY RANGE & COMPENSATION PACKAGE

This role has a starting salary range of $170,000 - $190,000 paid annually. The salary has a career path and potential for increases in salary up to $260,000 per year depending on evaluations, experience and tenure.

Comprehensive Medical, Dental, Vision
401K: 3% Employer Match AND 9% Employer Contribution
Life Insurance, Short & Long Term Disability
Employee Assistance Plan
Educational / Tuition Assistance
Mobile Phone Allowance
Credit Union Membership, Deposit Rates & Loan Promotions

This Job Description is not a complete statement of all duties and responsibilities comprising the position.

Freedom Credit Union

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