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Department Manager I (Loss Mitigation Operations Support) in Buffalo, NY at Key Bank- Corporate

Date Posted: 8/6/2020

Job Snapshot

  • Employee Type:
    Full-Time
  • Location:
    4224 Ridge Lea Road
    Buffalo, NY
  • Date Posted:
    8/6/2020

Job Description

Job Brief:
This position is responsible for leading and managing the Loss Mitigation Operations support team. Primary group responsibilities include preventative quality control system, process redesign and improvement, operational change management and operational support functions. You will work closely with operations, lines of business managers, and internal/external partners to collaborate on an effective risk mitigation system and broader strategic initiatives to shape the direction and growth of the business. This position will ensure the efficient and compliant execution of Operations support functions including but not limited to, review and acknowledgement of borrower requests for assistance, Loan modification trial tracking and, document receipt and generation. Product Scope includes all consumer loan products including, Mortgage, Home Equity, Auto, Credit Card, unsecured personal lines and loans.
Risk to the organization is very high. Position affects Key’s internal and external financial reporting, the corporate client experience with respect to loans, regulatory compliance, and risk mitigation.

Essential Job Function:
  • Manage and lead a team of Quality Control Analysts and Operational support specialists that execute scheduled daily and/or ad-hoc specialized quality control reviews and, Loss Mitigation operational support functions.
  • Develop, implement and monitor new Key Performance Indicators and measurements which drive continuous improvement and improved business results
  • Expand and implement quality control processes over Single Point of Contact (SPOC), Loss Mitigation application intake, and Loss Mitigation underwriting pre and post-closing business lines.
  • Drives the execution of Loss Mitigations risk agenda within the various business functions including, but not limited to:
    • Develop preventative control processes focused on proactively identifying deficiencies, through use of automation or re-performance where necessary.
    • Continuously reviewing and updating controls as changes occur such as new issues, closed issues, and new processes and ensures timely assertion of closure on any remediation items.
    • Ensures the Quality Control Plan meet all agency requirements by staying current with the various agencies, regulatory changes (CFPB, Fannie Mae, Freddie Mac, FHLB, HUD and VA) and KeyBank policies.
    • Assesses inherent risks of business operation and evaluate effectiveness of process and controls to facilitate enhancements when necessary.
  • Performs Root Cause analysis, create and coordinate effective control plans to identify need for remediation and/ or develop solutions for consideration in process enhancements.
  • Analyze and devise strategies to improve Quality control, operational efficiency, customer experience, reduce cycle time, and improve efficiency with a focus on resolving delinquencies and associated losses.
  • Monitors performance of process and personnel through results of QC reviews or ad-hoc tests to ensure the required competencies necessary for staff to adequately perform their duties are sustained. Consults with business line management in developing training curriculum for personnel, recommending additions to the skills tests and determining where additional required training may be required.
  • Partner with business lines to design and implement efficient and sustainable processes enhancements through process re-design and/or automation. Focuses on improving processes, launching best practices, and assisting operations teams with building infrastructure.
  • Plan course of projects including development and oversight of project plans, timelines, milestones and ensure projects are completed on or ahead of established timeframes through use of established project management methodology.
  • Manage the on-going operations of the department workflow and control environment for functions that include but are not limited to receipt and review of loss mitigation applications for completeness, loan modification trial tracking, and critical document generation.
  • Serve as a role model by consistently demonstrating desired leadership behaviors. Coach and develop high performing team to recognize and take advantage of opportunities to enhance operational efficiency, reduce expenses and/or minimize turnover
  • Analyze and devise strategies to improve Quality control customer experience, reduce cycle time, and improve efficiency with a focus on resolving delinquencies and associated losses.
  • Develop regular updates, reports, presentations to senior management as needed to ensure sustained performance and awareness.
  • Accountable for establishing and achievement of all productivity/objectives, quality and internal/external Service Level goals by team members
  • Lead the development of new processes, review loss mitigation standards, policies and procedures to minimize KeyBanks risk exposure and ensure success of the Loss Mitigation department.
  • Communicate KeyCorp, KT&O and LS goals, policies, priorities and procedures to team members in a clear and positive manner.
  • View all activities performed within the team with a clear understanding of possible risk. Actively seek ways to mitigate that risk by putting proper and sustainable controls in place. Ensure that all activities are compliant with various laws and regulations governing consumer loss mitigation functions.

Required Qualifications:

•Bachelor’s degree or equivalent,

•2-5 years of leadership experience, preferably in default management, Loss Mitigation, Single point of contact, operations management or equivalent field.
3-5 years default mortgage and/or consumer servicing experience

•Operations management skills
Demonstrated ability to lead high performing team
Proficient project planning skills, including the ability to organize, prioritize and control job responsibilities.
Knowledge of Investor (FHA, Fannie Mae, Freddie Mac), state and federal guidelines as they relate to Loss Mitigation.
Strong analytical and critical thinking skills with the ability to solve complex problems and easily communicate findings.
Demonstrate responsibilities for multi-faceted direction and planning; must be a fast-paced individual
Strong relationship building, communication and influencing skills. Must be able to communicate with internal partners as well as customers.
Excellent analytical and organizational skills
Six Sigma or Lean Six Sigma experience preferred
Ability to independently lead from idea to implementation to post implementation validation and performance monitoring.

Reporting Relationships: Reports to Department Manager III, Loss Mitigation Manager


Job Location: Buffalo NY

FLSA STATUS:Exempt

KeyCorp is an Equal Opportunity and Affirmative Action Employer committed to engaging a diverse workforce and sustaining an inclusive culture. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability, or veteran status.

41408BR

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