Vice President of Loss Mitigation

Park Avenue Group - Ann Arbor, MI

Full-time - Senior

Ann Arbor, MI

Food Services and Drinking Places

About the position

The Vice President of Loss Mitigation will lead the portfolio monitoring efforts of a Michigan-based credit union services organization, focusing on loan workouts and loss mitigation strategies. This role is crucial for managing a complex portfolio of commercial loans while ensuring high customer satisfaction and effective credit risk mitigation.

Responsibilities

• Oversee a team of Portfolio Managers focused on loss mitigation.
• Manage a complex portfolio of commercial loans, ensuring high customer satisfaction and credit risk mitigation.
• Review, analyze, and restructure distressed loans, providing comprehensive reports on financial performance, defaults, and credit risks.
• Support collection efforts, identify delinquent accounts, and create workout plans.
• Collaborate with credit unions and borrowers to negotiate loan structures and develop risk mitigation strategies.

Requirements

• Bachelor's degree or equivalent education and experience; formal credit training required.
• Minimum of 10 years in commercial credit analysis, with expertise in credit and risk management.