Director of Loan Operations & Asset Recovery

Company Summary:

Carver Bancorp, Inc. (NASDAQ: CARV), the holding company for Carver Federal Savings Bank (the “Bank”), is a federally chartered institution with approximately $744 million in assets and 110 employees. The Bank was chartered in 1948 to address the banking needs of middle income and underserved communities in New York City. Carver operates seven full-service branches in the New York City boroughs of Brooklyn, Queens, and Manhattan. The Bank provides commercial real estate and small business loans and a range of complementary bank products and services.

Position Summary:

The FVP, Director of Loan Operations & Asset Recovery provides oversight and leadership to the Loan Operations Department and the Collections Department heads and teams, working in collaboration with each department head respectively; assists with the overall direction, coordination, and evaluation of each department, carrying out supervisory responsibilities in accordance with Carver’s policies and applicable laws. This role also manages all aspects of the service experience delivered through internal and/or outsourced teams. The FVP, Director of Loan Operations & Asset Recovery may be required to take reasonable actions necessary to carry out the assigned responsibilities of this position, provided that such action is consistent with established procedures of Carver Federal Savings Bank. Key internal partners include the Accounting, Audit, Credit, Compliance, IT and Lending Departments.

Key Responsibilities:

Leadership

• Provide leadership, guidance, and mentorship to the Loan Operations and Collections Team, fostering a culture of accountability, collaboration, and continuous improvement partnering with internal and/or outsourced teams.

• Provide direction to the AVP of Collections in implementing strategies and tactics to achieve Bank objectives for asset quality.

• Set clear performance expectations, establish goals, and monitor each team’s performance to achieve loan operations and collections targets.
• Conduct regular performance evaluations, provide constructive feedback, and identify opportunities for training and development.

• Provide guidance to VP, Loan Operations and AVP, Collections with continuous development of leadership, supervisory, technical and management skills.
• Act as a resource for Loan Department and Collections regarding the development and maintenance of “Best in Class” processes.
• Provide direction regarding partnerships with internal IT Department and outside vendors.
• Ensure written procedures are established and maintained by VP, Loan Operations and AVP, Collections.
• Review all policies and procedures for completion and appropriate risk management.

Collections/Loss Mitigation and Loan Workout:

• Develop and implement collection strategies, policies, and procedures to optimize recovery efforts, aligned with the company’s goals and risk appetite.
• Collaborate with senior management to establish collection targets and performance benchmarks aligned with organizational objectives.
• Collaborate with Credit Department in identifying loan workouts and developing action plan(s).
• Partner with Accounting and Credit Departments to ensure loan workouts are accountant for and documented appropriately under Interagency Guidance and GAAP.
• Analyze delinquency and portfolio performance trends to identify areas for improvement and refine collection strategies.
• Manage relationships with third-party vendors and partners, such as collection agencies and legal firms, to ensure alignment with company standards and objectives.

Reporting and Analysis:

• Generate, analyze, and present reports on loan operations and collections metrics to senior management and Board of Directors.
• Identify trends, issues, and areas for improvement within the Loan Operations and Collections Departments.
• Utilize data, trends and facts to make informed decisions and recommendations.

Delinquency and Loan Workout Management Committee:

• Chair bi-weekly Delinquency and Loan Workout Management Committee meetings.
• Review and report on current status of delinquencies, trends, recovery efforts and loan workouts.

• Identify and develop action plans for delinquent and distressed loans, including foreclosures, sale in lieu of foreclosure and loan workouts.
• Identify potential future asset quality/delinquency risks based on loan portfolio composition and market conditions.

Process Optimization – Loan Operations and Collections:

• Guide Loan Operations and Collections in evaluating and streamlining Loan Operations and Collections processes, workflows and borrower communications to enhance effectiveness and improve the customer experience.
• Identify automation opportunities and leverage technology solutions to automate routine tasks, improve data analytics capabilities, and optimize resource allocation.
• Collaborate with cross-functional teams, including risk management, compliance, credit, operations and IT, to implement process improvements and system enhancements.

Compliance and Risk Management:

• Ensure all Loan Operations and Collections activities comply with Federal and State regulations and internal policies. Partner with compliance on regulatory changes and update procedures and practice accordingly.
• Assess credit risk and develop strategies to mitigate potential losses, including early identification of high-risk accounts and implementation of proactive risk management measures.
• Monitor and analyze portfolio performance metrics, such as delinquency rates, charge-off rates, and recovery rates, to identify emerging risks and opportunities for portfolio optimization.
• Partner with the credit team to evaluate credit policy changes to mitigate future risk based on historic and emerging trends.
• Partner with compliance and internal/external audit teams to facilitate timely response to audit requests.
• Assist with work processes and procedures for cross-training and auditing purposes.
• Ensure compliance with Bank Secrecy Act, AML, OFAC and USA PATRIOT Act.

Qualifications:

• Minimum of 10 years of related experience preferred.
• Minimum of 5 years of experience in leadership/management.
• Bachelor's degree from accredited institution.
• Knowledge of loan fulfillment, servicing, collections, recovery and loss mitigation, litigation activities and terminology.
• Knowledge of loan servicing systems; preferably Jack Henry Silverlake and Loan Vantage.
• Knowledge of FNMA, FHLMC and FHLB guidelines, credit, and support.
• Knowledge of Federal and regulatory compliance; Reg B, Reg F, Reg V, Reg X and Reg Z.
• Ability to resolve external and internal customer service requirements.
• Excellent verbal, written, organizational and administrative skills, including multi-tasking assignments based on department priorities.
• Proficient PC skills: MS Office products, excel, and front-end software systems.