Default & Special Servicing Manager III

Fifth Third Bank; Cincinnati (OH); On-site; USD 110,000 - 150,000; Full time

Job summary

Fifth Third Bank in Cincinnati, OH is seeking a Third level manager for Default & Special Servicing to lead multiple units (Bankruptcy, Foreclosure, Claims, and more). You will develop and implement procedures to boost productivity and ensure compliance with government and investor guidelines.

With 5+ years of management experience in high-volume defaults, you will oversee staff, monitor workflows, generate regular reports, and guide staff through policy updates.

Qualifications

• College degree or 10+ years in default and special servicing.
• 5+ years of management in high-volume operations.
• Proficiency in foreclosure, bankruptcy, claims, preservation.
• Strong knowledge of credit lending and risk management.
• Leadership, initiative, analytical and decisive.
• Able to lead team with professional image.
• Thorough knowledge of investor guidelines and regulations.
• Advanced MS Office and servicing applications (e.g., MortgageServ).
• Ability to multi-task and adapt.
• In-depth knowledge of bankruptcy laws.

Responsibilities

• Recruiting, hiring and training of employees, procedures and department goals.
• Organize workflow using applicable technologies.
• Prepare monthly trends and reports; share with staff.
• Each manager may have unique approval authorities for their LOB.
• Monitor daily workflow and maintain reporting.
• Respond to monthly Quality Control assessments to ensure 90% compliance.
• Review and train subordinates on policies.
• Review and approve key decisions and milestones.
• Ensure processes minimize credit losses.
• Provide support to counsel and customers in litigation; assist with escalated borrower issues.
• Assist with development and implementation of dept policies; identify best practices.

Skills

Default Servicing

Foreclosure

Bankruptcy

Claims

Property Preservation

REO

Charge Off

Collections Support

Valuations

Education

College degree

Tools

Microsoft Word

Microsoft Excel

Microsoft PowerPoint

Microsoft Access

Microsoft Outlook

MortgageServ

Job description

General Function

Third level manager of Two or More of the following Default and Special Servicing units for Consumer Collections: Bankruptcy, Foreclosure, Referral, Property Preservation, REO, Claims, Charge off, Collections Support, Valuations. Under minimal supervision, responsible for the development & implementation of procedures used to increase productivity & ensure compliance with government, investor, state, federal & bank guidelines to minimize financial losses to the Bank. Addresses complaints from vendors, customers & employees, resolves problems & provides guidance & leadership to departmental personnel. Role requires a broad level of knowledge about default practices and regulations and a high level of managerial competencies. Staff managed consists of exempt and nonexempt personnel.

Responsible and accountable for risk by openly exchanging ideas and opinions, elevating concerns, and personally following policies and procedures as defined. Accountable for always doing the right thing for customers and colleagues, and ensures that actions and behaviors drive a positive customer experience. While operating within the Bank’s risk appetite, achieves results by consistently identifying, assessing, managing, monitoring, and reporting risks of all types.

Essential Duties And Responsibilities

• Responsible for the recruiting, hiring and training of employees, procedures and department goals.
• Utilizing applicable technologies to define & systematically organize the work flow.
• Organize monthly trends & past standard, exception and KRI reports & provide to staff in a regular and timely manner.
• Each functional area manager may have unique and specific approval authorities related to their respective LOB. (E.G., repairs, charge off, bidding, negotiations, etc).
• Monitor daily workflow to ensure timely completion of tasks. Maintains daily, weekly and monthly reporting of departmental activity
• Respond to monthly Quality Control assessments to ensure a compliance ratio of at least 90%.
• Perform regular reviews of accounts in applicable process to insure compliance with departmental policies & procedures & provide feedback & training to subordinates.
• Review & approve recommendations for key decisions and milestones (E.G.: Values, charge off, bidding instructions, contract prices, etc.)
• Ensure that processes & procedures support the minimization credit loss & out-of-pocket expenses.
• Providing support to local & outside counsel, internal and external customers: assist in litigation matters, attorney inquiries, & consult with counsel on escalated borrower issues.
• Assist with the development, enhancement & implementation of departmental policies & procedures; Identify and implement best practices for the Bank.

Supervisory Responsibilities

Responsible for providing employees timely, candid & constructive performance feedback; developing employees to their fullest potential & provide challenging opportunities that enhance employee career growth; developing the appropriate talent pool to ensure adequate bench strength & succession planning; responsible for the hiring/selection process; recognizing & rewarding employees for accomplishments. Administers all human resource policies and procedures in a fair and consistent manner. Ensures that employees, equipment, and materials are used properly to maximize productivity.

Minimum Knowledge, Skills And Abilities Required

• College degree or Minimum of 10 years of experience in default and special servicing functions as defined above.
• Minimum of 5 years of management experience with increasing responsibility in a high volume operation.
• Proficiency in multiple areas of Default Servicing (e.g., foreclosure, bankruptcy, claims, preservation, etc.)
• Advanced knowledge in the principles of credit lending and risk management, collections and default servicing.
• Strong leadership skills, initiative, detail orientation, analytical, and decisive decision-making skills.
• Ability to work in a team environment, presenting a professional image and commanding the respect of staff, peers, and senior management.
• Thorough knowledge of investor guidelines & regulations relative to respective business unit.
• Intermediate computer skills in Microsoft products, such as Word, Excel, PowerPoint, Access and Outlook and servicing applications, default and servicing technology (i.e. MortgageServ).
• Ability to multi-task and be flexible.
• Advanced knowledge of laws, best practices and investor guidelines for the respective area of management. (Example: Bankruptcy management would require knowledge of the Federal bankruptcy code and laws.)
• Effective organizational, leadership and change management skills.

Default & Special Servicing Manager III

At Fifth Third, we understand the importance of recognizing our employees for the role they play in improving the lives of our customers, communities and each other. Our Total Rewards include comprehensive benefits and differentiated compensation offerings to give each employee the opportunity to be their best every day.

The base salary for this position is reflective of the range of salary levels for all roles within this pay grade across the U.S. Individual salaries within this range will vary based on factors such as role, relevant skillset, relevant experience, education and geographic location. In addition to the base salary, this role is eligible to participate in an incentive compensation plan, with any such payment based upon company, line of business and/or individual performance.

Our extensive benefits programs are designed to support the individual needs of our employees and their families, encompassing physical, financial, emotional and social well-being. You can learn more about those programs on our 53.com Careers page at: https://www.53.com/content/fifth-third/en/careers/benefits.html or by consulting with your talent acquisition partner.

LOCATION -- Cincinnati, Ohio 45227

Fifth Third Bank, National Association is proud to have an engaged and inclusive culture and to promote and ensure equal employment opportunity in all employment decisions regardless of race, color, gender, national origin, religion, age, disability, sexual orientation, gender identity, military status, veteran status or any other legally protected status.