Performing Servicing Operations Manager -- Loss Drafts & Insurance will oversee and manage the daily mortgage servicing functions of the team, including, Loss drafts and insurance administration analysis in support of the strategic direction of the Performing Servicing team as well as Flagstar's overall initiatives. The position will drive change, develop business process improvements, meet regulatory and bank policy requirements, as well as coach, mentor and develop talent in order to meet company growth, profitability and customer satisfaction targets. Leads the Loss drafts & insurance servicing line of business encompassing team development, process improvement prioritization, workflow, policies and procedures, multiple tier one vendor management for outsourced activities, and regulatory compliance. Servicing's Operations Manager - Loss Drafts & insurance includes timely processing and tracking of insurance calculations and Loss draft analysis, for both Flagstar Bank and its subservicing clients. The area utilizes both in-house team members and outsourcing business partners.
- Provide professional development of direct reports in leadership position. Meet with direct reports to solicit input from staff on best practices for job completion staff performance and departmental goals along with evaluation processes. Provides key leadership and guidance to Loss drafts & insurance servicing team members (10+) to inspire the creation and development of new processes.
- Provide oversight and guidance when preparing for internal and external audit. Play active role when Auditors are onsite, including divisional response to audit finding along with developing a remediation plan for noted issues to prevent recurrence of similar types of issues. Ensure requests from internal partners including audit responses are thorough and completed timely. Ensure team is working proactively to mitigate and resolve issues before becoming internal audit items. Participate in regulatory exams to represent the Servicing Insurance & Loss Draft function.
- Work with Tier 1, 2 & 3 (4+) outsource vendor's to monitor contractual responsibilities, provide regular feedback on service levels, and manage SLAs, SOWs and contracts for changes and amendments.
- Develop and maintain strong collaborative and strategic relationships with internal and external business partners. Effectively communicate critical announcements to all servicing and executive leadership. Actively participate as a member of the Performing Servicing leadership team to foster process improvement, compliance, quality, growth, and client experience excellence. Primary business line relationship for at least two critical tier one vendors performing escrow operational functions.
- Work effectively with Compliance, Legal and Servicing Support to implement changes to comply with changes in both investor (GSE) guidelines as well as federal and state laws and regulations.
- Ensures compliance with applicable federal, state and local laws and regulations. Completes all required compliance training. Maintains knowledge of and adhere to Flagstar's internal compliance policies and procedures. Takes responsibility to keep up to date with changing regulations and policies.
- Bachelor's Degree Preferred or equivalent work experience (Business Administration or Accounting)
- 8+ years of professional work experience with increasing leadership responsibilities with an emphasis on mortgage and mortgage servicing, including specific emphasis in insurance and Loss draft analysis. Overall servicing experience a must.
- 5+ years of experience with servicing systems, including MSP/Black Knight
- 5 + years leadership experience.
- Current strong understanding of investor and regulatory requirements and guidelines.
- Demonstrated success building, leading, and motivating teams.
- Strong interpersonal skills; team player with the ability to create structure and coordinate a variety of team member work styles to execute activities at a high level of quality and skill.
- Strong skills using Excel, Word, Adobe, PowerPoint or equivalent presentation software
- Self-starter, self-directed, influential, articulate and ability to distill complex information into easily understandable content.
- Demonstrated ability to define and resolve problems, exercise sound judgement and make good decisions
- Establish critical timelines and effectively drive team and operations to meet deadline expectations.
- Excellent written and verbal communication skills with the ability to maintain confidential information. Strong collaborator with ability to interface successfully with all levels of the organization
- Experience with Servicing software, preferably MSP servicing system
- Experience with contract (RFP, MSA and SOW) review, negotiation and execution is required
- Current strong understanding of investor and regulatory requirements and guidelines
Internal Use Only: Band E