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Avp Collections information

What is the difference between Avp Collections vs Collections Manager?

AspectAvp CollectionsCollections Manager
Required CredentialsBachelor's degree, collections or finance experienceBachelor's degree, collections or finance experience
Work EnvironmentCorporate finance or banking sector, team leadershipCorporate finance, team management, client interaction
Employer & Industry UsageFinancial institutions, banks, large corporationsFinancial institutions, banks, credit companies
Common Search & ComparisonAvp Collections vs Collections Manager

The Avp Collections and Collections Manager roles share similar credentials and work environments, often found in financial institutions. The Avp Collections typically involves higher-level strategic responsibilities, while the Collections Manager focuses more on day-to-day operations and team oversight. Both positions require experience in collections and finance, but the Avp role may involve more strategic planning and leadership at a senior level.

What does an AVP of Collections do?

An AVP (Assistant Vice President) of Collections oversees the collections department within a financial institution or company. Their responsibilities include managing teams that recover overdue payments, developing and implementing collection strategies, ensuring compliance with regulations, and analyzing collection data to improve processes. They also collaborate with other departments to minimize financial risk and maximize recovery rates while maintaining positive customer relationships.

What are some common challenges faced by an AVP of Collections, and how can they be effectively managed?

As an AVP Collections, you may encounter challenges such as managing large teams across multiple locations, balancing aggressive collection targets with regulatory compliance, and handling escalated or complex delinquency cases. Effective management involves leveraging data analytics to monitor team performance, fostering strong communication and collaboration with legal and risk departments, and implementing training programs to ensure staff stay current with industry regulations. Building a culture of accountability and continuous improvement can help you address these hurdles and achieve department goals.

What are the key skills and qualifications needed to thrive as an AVP of Collections?

To thrive as an AVP Collections, you need expertise in credit and collections management, analytics, and a relevant degree in finance or business administration. Familiarity with collections software, CRM systems, and compliance regulations such as FDCPA is typically required. Strong leadership, negotiation, and problem-solving skills help you manage teams and resolve complex debtor issues effectively. These skills are crucial for optimizing recovery rates, ensuring regulatory compliance, and maintaining positive client and debtor relationships.
What are popular job titles related to Avp Collections jobs in Michigan? For Avp Collections jobs in Michigan, the most frequently searched job titles are:
What job categories do people searching Avp Collections jobs in Michigan look for? The top searched job categories for Avp Collections jobs in Michigan are:
What cities in Michigan are hiring for Avp Collections jobs? Cities in Michigan with the most Avp Collections job openings:
Avp Collections jobs near you

Assistant Vice President (AVP) - Loss Mitigation and Collections

AD Mortgage

Troy, MI

Full-time

Medical, Dental, Vision, Retirement, PTO

Re-posted 18 days ago

Job description

About this opportunity

The Assistant Vice President (AVP), Loss Mitigation and Collections is responsible for the strategic leadership, operational management, and regulatory oversight of the Company's Collections and Loss Mitigation departments. The AVP oversees delinquency management, borrower outreach, collections, hardship assistance, loan workouts, foreclosure prevention, and default servicing while ensuring compliance with federal and state regulations, investor requirements, and company policies. The role develops strategies that maximize portfolio performance, reduce credit losses, improve borrower outcomes, and enhance the customer experience.

Executive Leadership

· Provide strategic direction for Collections and Loss Mitigation.

· Develop departmental goals and KPIs.

· Lead managers over Collections, Loss Mitigation, Underwriting, Quality Assurance, and Escalations.

· Develop staffing, budgets, succession planning, and employee development.

· Report departmental performance to Executive Leadership.

Collections Management

· Oversee early- and late-stage collections, borrower outreach, promise-to-pay programs, payment arrangements, skip tracing, call center performance, and digital communications.

· Ensure compliance with CFPB Mortgage Servicing Rules, FDCPA, UDAAP, SCRA, bankruptcy restrictions, state laws, and investor requirements.

Loss Mitigation Operations

· Oversee repayment plans, forbearance, loan modifications, FHA-HAMP, VA, USDA, Fannie Mae and Freddie Mac workout programs, short sales, deeds-in-lieu, foreclosure referrals, appeals, and borrower escalations.

Portfolio Performance Management

· Improve delinquency roll rates, cure rates, collections effectiveness, foreclosure avoidance, modification success, and loss severity.

Regulatory Compliance

· Maintain compliance with CFPB, RESPA, TILA, FDCPA, ECOA, Fair Housing Act, UDAAP, SCRA, Bankruptcy Code, investor guidelines, and state servicing regulations.

Investor & Agency Oversight

· Ensure servicing compliance with Fannie Mae, Freddie Mac, Ginnie Mae, FHA, VA, USDA, private investors, and portfolio servicing requirements.

Operational Excellence

· Lead Quality Assurance, Quality Control, process improvement, automation, workforce planning, vendor oversight, and business continuity initiatives.

Risk Management

· Monitor portfolio trends, operational risk, foreclosure pipelines, audit findings, and corrective action plans.

Reporting & Analytics

· Develop executive dashboards for collections, delinquency, modifications, foreclosure, investor scorecards, compliance metrics, and operational productivity.

Vendor Oversight

· Manage vendors supporting collections, foreclosure, bankruptcy, property preservation, payment processing, and servicing technologies.

Location and Schedule

  • This is a full-time, office-based position in a modern, cozy environment in our Troy, MI office.

  • Our standard working hours are Monday to Friday, 9:00 AM to 6:00 PM, promoting a healthy work-life balance.

Skills & Qualifications

Education

  • Bachelor's degree in business administration, Finance, Accounting, Economics, Risk Management, or related field (master's degree preferred).

Experience

  • Minimum 5 years of mortgage servicing experience.

  • Minimum 3 years of progressive leadership experience in Loss Mitigation, Collections, or Default Servicing.

  • Extensive knowledge of:

    • FHA Loss Mitigation

    • VA Servicing

    • USDA Servicing

    • Fannie Mae Servicing

    • Freddie Mac Servicing

    • Ginnie Mae Programs

    • Private Investor Programs

  • Experience managing large operational teams.

  • Experience interacting with regulators, auditors, investors, and executive leadership.

Knowledge, Skills, and Abilities

Technical Knowledge

  • Mortgage servicing operations

  • Default servicing processes

  • Investor guidelines

  • Mortgage servicing systems

  • Regulatory compliance requirements

  • Foreclosure prevention programs

  • Portfolio analytics and reporting

Leadership Skills

  • Strategic planning

  • Team development

  • Change management

  • Executive communication

  • Project management

  • Decision making

Analytical Skills

  • Data analysis

  • Trend identification

  • Operational forecasting

  • Risk assessment

  • KPI development and monitoring

Communication Skills

  • Executive presentations

  • Regulatory responses

  • Investor communications

  • Employee coaching and development

What We Offer | Career and Culture

  • Company Culture: Inclusive, supportive company culture where you are not a number, but a voice that's heard and brings value.

  • Growth Path: Defined paid training and clear pathways for career development.

  • Benefits: Comprehensive benefits package including PTO, sick days, paid volunteer hours, medical, dental, vision insurance, and 401(k).

    Take the first step towards a rewarding career in the mortgage industry with AD Mortgage.

    Our Recruitment team will reach out to you shortly!

Connect with us: Explore our social media to get a sense of our corporate culture.

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We are an equal opportunity employer and value diversity at our company. We do not discriminate on the basis of race, religion, color, national origin, sexual orientation, age, marital status, veteran status, or disability status.

We will ensure that individuals with disabilities are provided reasonable accommodation to participate in the job application or interview process, to perform crucial job functions, and to receive other benefits and privileges of employment. Please contact us to request accommodation.