PURPOSE AND DISTINGUISHING CHARACTERISTICS
The Vice President of Loss Mitigation is responsible for overseeing the daily production and performance of the loss mitigation department to ensure continuous improvement of our work processes, mainly in loss mitigation. This role will identify opportunities for improvement and work with the operational teams to debottleneck and streamline processes, clarify roles and responsibilities, and specify requirements for supporting client programs and processes.
The VP of Loss Mitigation will work with their peers as well as clients to ensure proper alignment of processes to arrive at effective, efficient and transparent work processes.
This position reports to the Chief Operations Officer.
EXAMPLES OF TASKS
- Managing and mitigating financial risks within the automobile sector. Adept at developing innovative strategies to minimize losses and enhance recovery processes.
- Oversee department in reducing automobile loan defaults, achieving measurable results in delinquency rates, analyzing data to identify trends, enabling proactive measures and reducing overall risk exposure.
- Implement strategic loss mitigation plans, significantly improving recovery rates and client retention. Collaborate with cross-functional teams to streamline processes, enhancing operational efficiency.
- Effectively communicate corporate and department objectives on a regular basis.
- Motivate and create a positive working environment to achieve productivity and performance standards.
- Participate in the panel interviews, prepare new hire documentation, facilitate associate orientation, and participate in the termination process (i.e. document performance issues, recommend disciplinary actions).
- Draft and administer performance improvement plans as needed.
- Other duties as assigned
KNOWLEDGE, SKILLS, AND ABILITIES
- Providing strategic leadership to optimize operational processes and drive continuous improvement within the organization.
- Provide strategic direction and executive leadership for all aspects of Loss Mitigation.
- Develop strategies & lead the implementation of client service programs in the organization to drive performance and meet business goals
- Identify opportunities for process improvements and operational efficiencies.
- Provide training, coaching, and support on methodologies to drive the improvement activities
- Ensure operational compliance with relevant industry regulations and standards.
- Implement risk management strategies to mitigate operational risks.