Consumer Lending Loss Mitigation Officer
JCW Group, New York, NY, United States
Our client, a New York–based banking institution, is seeking an experienced professional to manage consumer loan portfolios with a focus on loss mitigation, delinquency management, and loan restructuring. This role is responsible for minimizing credit losses while ensuring compliance with regulatory requirements and maintaining customer relationships where possible. This role is hybrid in Manhattan.
Key Responsibilities
Manage a portfolio of delinquent consumer loans (e.g., personal loans, credit cards, auto loans), focusing on minimizing losses and curing delinquency.
Evaluate borrower financial situations and recommend appropriate loss mitigation strategies, including restructures, modifications, forbearance, settlements, and repayment plans.
Conduct detailed financial analysis to assess repayment capacity and risk exposure.
Negotiate directly with borrowers and/or their representatives to implement workout solutions.
Monitor performance of restructured loans and ensure adherence to agreed terms.
Partner with internal stakeholders (credit risk, legal, compliance, servicing) to execute workout strategies and ensure proper documentation.
Ensure all activities comply with applicable federal and state regulations, internal policies, and audit standards.
Maintain accurate and timely records of borrower interactions, decisions, and portfolio performance.
Prepare regular portfolio reports, including delinquency trends, recovery rates, and loss forecasts.
Support audits and regulatory examinations as needed.
Qualifications
Minimum 5 years of experience in consumer lending, with a strong focus on loss mitigation, collections, or loan workouts.
Solid understanding of consumer credit products and delinquency management practices.
Experience with loan restructuring tools and repayment programs.
Strong analytical skills with the ability to assess financial statements and borrower capacity.
Knowledge of relevant regulatory frameworks (e.g., FDCPA, CFPB guidelines, and state-level requirements).
Effective negotiation and communication skills.
Ability to manage a high-volume portfolio and prioritize effectively.
Proficiency with loan servicing systems and Microsoft Excel (or similar tools).
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Key Responsibilities
Manage a portfolio of delinquent consumer loans (e.g., personal loans, credit cards, auto loans), focusing on minimizing losses and curing delinquency.
Evaluate borrower financial situations and recommend appropriate loss mitigation strategies, including restructures, modifications, forbearance, settlements, and repayment plans.
Conduct detailed financial analysis to assess repayment capacity and risk exposure.
Negotiate directly with borrowers and/or their representatives to implement workout solutions.
Monitor performance of restructured loans and ensure adherence to agreed terms.
Partner with internal stakeholders (credit risk, legal, compliance, servicing) to execute workout strategies and ensure proper documentation.
Ensure all activities comply with applicable federal and state regulations, internal policies, and audit standards.
Maintain accurate and timely records of borrower interactions, decisions, and portfolio performance.
Prepare regular portfolio reports, including delinquency trends, recovery rates, and loss forecasts.
Support audits and regulatory examinations as needed.
Qualifications
Minimum 5 years of experience in consumer lending, with a strong focus on loss mitigation, collections, or loan workouts.
Solid understanding of consumer credit products and delinquency management practices.
Experience with loan restructuring tools and repayment programs.
Strong analytical skills with the ability to assess financial statements and borrower capacity.
Knowledge of relevant regulatory frameworks (e.g., FDCPA, CFPB guidelines, and state-level requirements).
Effective negotiation and communication skills.
Ability to manage a high-volume portfolio and prioritize effectively.
Proficiency with loan servicing systems and Microsoft Excel (or similar tools).
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