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- Troy, MI 49459
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Indirect Lending Operations Manager
Flagstar Bank • Troy, MI
Posted 14 days ago
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Position TitleIndirect Lending Operations Manager
Job SummaryThe Indirect Lending Operations Manager assists the Indirect Lending Manager in developing and executing loan growth and expansion strategies, ensuring effective and efficient operations within the business unit, monitoring and understanding portfolio performance, and in managing the various pricing and underwriting components of the program. The Indirect Lending Operations Manager also leads a team of specialists who are responsible for funding and boarding loans and for dealer support activity. Response times and service levels are critical to the success of the indirect program and will be a key responsibility. The manager also ensures that loan agreements and ancillary loan documentation forms are up to date and in compliance, and that dealers have access to forms as needed.
The manager provides proactive oversight of internal and external servicers for both performing and non-performing loans, including portfolio MIS, collections, collateral repossession and liquidation, and recoveries of charge-offs.
The manager interfaces with key internal stakeholders (Credit Risk, Default Servicing, Audit, Quality Control, Compliance, Finance, and Servicing) to identify reporting requirements and ensures accounts are properly coded and tracked on servicing platforms. The manager performs analysis of data to identify leading and lagging indicators of performance.
The Indirect Lending Operations Manager will also oversee and coordinate any portfolio purchase transactions.
- Manage funding and booking/dealer support team to ensure acceptable turn-times and top notch service levels/culture to support attainment of loan production goals, and to ensure that funding packages are complete, accurate, and fully compliant prior to disbursement of funds and booking.
- Ensures accuracy in payments and reversals of dealer reserves and in issuance of monthly dealer statements. Also ensures that various dealer issues and inquiries are addressed in a timely fashion, acting in concert with dealer relationship managers as needed, and ensures that regulatory, compliance, and audit requirements are met in the loan disclosure, closing, and fulfillment processes.
- Performs management duties including hiring, firing, development/coaching, training, and assignment of work.
- Ensures that both internal and external MIS is in place and effectively utilized to monitor, improve, and forecast portfolio delinquency and net loss performance and profitability while helping to monitor default management effectiveness, including front-end and late stage collections, and repossession activity.
- Responsible for ensuring that collateral liens are properly perfected within a reasonable time, given state-level requirements and processing lags.
- Confirm that business unit financials are accurate and understandable and that corporate reporting requirements are met in concert with stakeholders in Finance and other stakeholders.
- Assists with monitoring competitors’ practices and pricing and helping to ensure that the indirect program is competitive and successful in attainment of production and profit goals and in optimization of risk.
- Ensure compliance with applicable federal, state and local laws and regulations. Complete all required compliance training. Maintain knowledge of and adhere to Flagstar's internal compliance policies and procedures. Take responsibility to keep up to date with changing regulations and policies.
- Bachelor’s Degree preferably in Business Administration, Economics, Finance or Accounting – OR – 10+ years of equivalent work experience. MBA preferred.
- 10+ years consumer loan operations experience
- 5+ year indirect lending experience
- 5+ years of supervisory/leadership experience
- Demonstration of successful partnerships with loan servicing partners, internally and/or externally
- Proven leadership experience with demonstrated ability to lead teams
- Demonstrated ability to manage diverse work streams
- Proficiency in vendor management
- Excellent written and oral communications skills
- Proficiency in Microsoft Office Suite, particularly Excel and PowerPoint
- Ability to identify and implement process improvements and create/maintain business unit procedures
- Position will entail travel of up to 10%
- PMP and/or Lean Six Sigma training/certification is preferred
Internal Use Only: Band E
Job ID: 02654
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