Retail Loss Mitigation Manager

First Commonwealth Bank•Liberty Township, OH

21h

About The Position

Provides executive leadership for the bank’s consumer recovery strategy, ensuring all collection and loss‑mitigation activities align with regulatory expectations, enterprise risk standards, and organizational goals. Drives performance across the recovery function by optimizing workflows, strengthening operational disciplines, and leveraging data‑driven insights to manage delinquency and portfolio risk. Oversees key vendor partnerships to ensure value, compliance, and strategic alignment. Success in this role requires strong leadership, analytical acumen, and the ability to influence cross‑functional outcomes. A minimum of ten years of progressive, supervisory experience in a related discipline are required as well as previous underwriting and operational experience. Oversees collection and recovery functions and staff to ensure proper policies and procedures are followed and that activities are performed in accordance with legal guidelines and regulations. Responsible for mitigating loss and controlling consumer portfolio delinquency rates to meet goals. Coordinates departmental workflows and manages the collections system. Manages and periodically reviews vendor relationships, and makes recommendations to management as necessary.

Requirements

Bachelor’s degree or equivalent experience required.
Minimum of ten (10) years related work experience, including supervisory, required. Previous management experience in a collection environment, loan underwriting, and operations is preferred.
Excellent communication, organizational, and time management skills are essential. Proficient mathematical and analytical skills required. Microsoft Word, Excel, and general PC skills required.
Comprehensive knowledge of the Fair Debt Collections Practices Act and all other applicable laws and regulations.
Excellent communication, organizational, and time management skills are essential. Proficient mathematical and analytical skills required.
Must possess a valid driver’s license and travel regionally.

Responsibilities

Develops and creates collection and recovery processes and workflows that remain relevant and modern to minimize credit losses within the Consumer portfolio
Recruits, trains, mentors, and evaluates staff to build a high performing collections team.
Responsible for mitigating loss and controlling consumer portfolio delinquency rates in order to meet goals.
Provides continuous review and refresh of departmental workflows and manages the collections system.
Works with department management to establish targets for individual collectors and track the performance of an incentive system to ensure that incentives drive performance.
Leads efforts to regularly test existing processes through Champion Challenger initiatives, assess results, and modify practices if appropriate.
Oversees management and periodically reviews vendor performance and relationships, solicit and negotiate contracts with new vendors, and makes recommendations to management as necessary.
Oversees bank responses to internal and external Auditors, Examiners, and Credit Bureau disputes as well as FDIC and BBB complaints.
Provides guidance for support of collection and recovery efforts by: a. Acts as highest level of supervisor escalation in order to diffuse difficult situations b. Collects the most complex and sensitive employee delinquencies c. Negotiates and recommends terms of settlements d. Reviews write-ups and approving tickets put through for charge-offs e. Provides back-up to supervisors as needed
Stays abreast of industry trends and related laws and regulations, including Fair Debt Collections Practices Act, updating procedures and training staff accordingly.
Inspects repossessed vehicles and approve their sale at auction, visits properties and other collateral in order to determine value as well as appropriate next steps.
Monitors early stage and late stage delinquency performance, charge offs, roll rates, and recovery metrics.
Analyzes portfolio data to identify trends, root causes, and opportunities for process improvement.
Perform an ongoing review of accounts for complete and proper documentation.
May perform all tasks associated with the foreclosure process as back-up, including acting as an authorized signed on Mortgage Complaints, and reviewing Judicial Sales.