Sr. Loss Mitigation Officer

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The Sr. Loss Mitigation Officer is responsible for managing and overseeing the collection systems and processes within the department. This role involves ensuring the efficient operation of collection systems, maintaining data integrity, and providing support to users while collaborating with various teams to enhance collection strategies.

What You’ll Be Doing

• Quality  Assurance: Ensure that all features and functionalities of the collection system work as intended and meet the specified requirements.
• User Acceptance Testing: Ensure that all features and functionalities of the collection system work as intended and meet the specified requirements at the initial build and future enhancements.
• Compliance and Regulatory Adherence: Ensure that the collection system complies with all relevant legal and regulatory requirements, minimizing the risk of non-compliance.
• Continuous Improvement: Identify areas for improvement based on testing outcomes and user feedback, facilitating ongoing enhancements to the collection system
• Work closely with Product Development & IT staff and departments to ensure seamless integration of system to ensure business requirement are met.
• Data Management: Ensure the accuracy and integrity of data within the collection systems by performing regular audits and data validation.
• Develop and maintain documentation related to data management processes and system configurations.
• Reporting and Analysis: Generate and analyze reports on collection activities, performance metrics, controls, and system usage to identify trends and areas for improvement.

• Collaborate with management to develop strategies for optimizing collection processes based on data insights.

• Regulatory & Compliance Monitoring: Conduct continuously monitor changes in state and federal regulations relevant to the Collection operations, climate, and consumer lending in general.

• Analyze new and existing regulations to assess their impact on the procedures, controls and reporting.

• Manage and update any Regulatory Compliance Management (RCM) obligation mapping and EGRC system

• Represent Consumer Loss Mitigation for RCM, RCSA, and additional risk assessments

• Work on establishing a profile for EGRC system

• Continue with monthly communication plan to disseminate regulatory updates to relevant stakeholders.

• Organize training sessions to ensure staff are informed about new regulations and compliance procedures if applicable.

• Assist-manage with preparation of general compliance, audit or regulatory reviews.

• Training and Communication

• Provide training as needed and maintain system user guide.

• Ongoing Collections: Provide guidance, commu