Consumer Finance Performance Manager

Position Title

Consumer Finance Performance Manager

Location

Nationwide, MI 48098

Job Summary

JOB SUMMARY
The Consumer Finance Performance Manager is accountable for the management and operational performance of consumer lending and home equity originations. Responsible for managing the day to day activities of underwriting, loan processing, closing through to funding. Maintains ownership of the pipeline of consumer loans, mainly sourced through our branch network, ensuring timelines, department goals and customer expectations are met. Lead for the management and optimization of all technology systems that support the department.

The manager will be continuously identifying efficiency opportunities, implementing operational and technology focused procedures and internal controls that will ensure that the teams produce work output that is accurate, compliant and meets established service quality standards. While also building and developing relationships across underwriting and cross-functional teams on the customer experience and production of high-quality loans. They will lead and drive our fulfillment, digital, and technology strategies for the team.

System optimization – working with Flagstar system support and external vendors – determine overall system functionality, overly to existing use of our loan origination systems, identify gaps/opportunities. Develop recommended solutions for Senior management approval, prioritization, and execution. Develops key metrics for baseline measurement pre and post improvements. Coordinates content inputs for procedure and training updates.

The Consumer Finance Performance Manager leads a high-performance team by creating a work environment that supports engagement, innovation, and teamwork.

Pay Range: 117,185 - $155,270 - $193,355

Pay Range: Local Minimum Wage - $0.00 - $0.00

Job Responsibilities:

JOB RESPONSIBILITIES

Operations and People Management

• Direct all functions of Consumer and Home Equity loan processing including underwriting, pre-closing, closing, post-closing, funding, and onboarding.
• Oversee all pre and post-closing items, including but not limited to: ordering flood certificates and appraisals, title work and insurance, funding loans according to disbursement instructions, recording mortgage/deed of trust, and coordinating vehicle lien placement.
• Manage & prioritize the workflow for processors/funders/closers and manage the pipeline for all fundings/closings.
• Hire, manage and mentor the staff, fostering their growth through development planning, performance management, and real-time feedback and coaching.
• Ensure that the team has a focus on attention to detail and quality, develop processes to implement them and track the progress over time.
• Establish essential operational metrics/reports (KRIs, KPIs) and use data to improve performance of the team to ensure visibility and overall management of the consumer loan pipeline.

System and Process Optimization and Vendor Management

• Drives key system opportunities for improvement.  Utilizing strong project management discipline and matrix managing; internal partners, LOS provider, and other outside Vendors (ie. Appraisal, Title, Flood) as needed. 
• Works closely with Lenders and Consumer Finance management to identify and prioritize opportunities, with a focus on internal/external customer expectations and service level delivery.
• Drives planning, execution, and look back for initiatives.  For larger projects, will liaise with Enterprise Project Management Office, and Testing Center of Excellence partners.  Ensures changes to process are appropriately vetted with key stakeholders.
• Identifies and analyzes new technologies/systems and works to implement them resulting in reduced costs for the Bank, or improved cycle times (RPA, Workflow tools, DocuSign, etc.)Manage Consumer Finance procedures and reference materials to ensure updates are processed per the review schedule.
• Manage and build vendor relationships. Monitor performance and service levels. Leverage existing vendors to achieve best practice execution.
• Participation with industry groups and committees to stay up to date on industry regulations, trends and technology.
• Act as a liaison to the business risk and internal controls team, compliance, risk, legal, and other internal business partners.
• Communicates with bank department managers/officers to promote efficient and correct work flow, and establish positive working relationships across the organization. 

Regulatory and Compliance Efficiencies

• Review regulatory changes for system impacts and ensure systems and processes are compliant resulting in low/no audit findings.  Assist with oversight and clearance of Consumer Finance compliance/risk issues.
• Manage system tracking and monitoring for Consumer Finance risk and compliance issues that results in transparent reporting for the Consumer Finance Management team and issue closure on or before target due date.
• Work with Community Banking Operations, 1LOD for Consumer Bank  and HMDA teams to identify and implement efficiencies for HMDA reporting.

ADDITIONAL ACCOUNTABILITIES

• Performs special projects, and additional duties and responsibilities as required.
• Consistently adheres to regulatory and compliance policies and standards linked to the job as listed and complete required compliance trainings.  Accountable to maintain compliance with applicable federal, state and local laws and regulations.

JOB REQUIREMENTS

Required Qualifications:

• Education level required: Undergraduate Degree (4 years or equivalent) 

• Minimum experience required: 10+ Years in Consumer and/or Mortgage Loan Fulfillment
  • 3-5+ years of experience in process and systems management/operations
  • 4+ years in supervisory positions or equivalent required
  • Knowledge of lien perfection and lending regulatory requirements

Job Competencies:

• Expert knowledge and understanding of consumer lending fundamentals, products, procedures, loan servicing and related regulatory compliance.
• Demonstrated experience with non-1st mortgage consumer lending (HELOCs and non-real estate loans) not required but preferred.
• Knowledge of underwriting/credit guidelines and processes.
• Passion for leading employees through coaching and mentoring, evaluating performance and driving accountability.
• Experience and ability in identifying and implementing process improvements for automation that improve operational efficiency .
• Knowledge of business process improvement tools and techniques and ability to understand, monitor, update, or enhance existing business or work processes.
• Background and familiarity with title for Home Equity loans.
• Excellent Microsoft Office skills.
• Exceptionally strong analytical, process and people skills.
• Ability to develop rapport with team members and cross-functional business partners (i.e. Appraisal Review, Accounting, Vendor Risk, Compliance, Legal, Mortgage).
• Demonstrated understanding of mortgage/consumer loan origination systems and other industry supporting technologies with high technical proficiency and speed in learning new production platforms. (LoansPQ and MSP experience a plus!)
• Some travel may be required.
• Physical demands (ADA): No unusual physical exertion is involved.

Flagstar is an equal Opportunity Employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identify, or national origin.