Manager - Risk Containment Recovery - Small Business

  We've had a hand in helping build communities for over 100 years. We're listed on Fortune's "100 Best Companies to Work For" in 2006. It pays to work at WaMu. We've added even more benefits to our generous package.Learn more at wamu.com/careers Manager - Risk Containment Recovery - Small Business Be a part of our success story. Washington Mutual offers talented and motivated people the opportunity to do the best work of their lives in a dynamic and growing company. Through competitive salaries, outstanding benefits, internal advancement opportunities, and nationally recognized community involvement, you'll have the chance to create a career you can be proud of. Your success story starts here.Responsible for activities associated with the management of charged off small business accounts to third party collection agencies in order to maximize recovery potential to the bank.  This will include recovery efforts on both small business lines of credit and loans. Manage the boarding process and release process for all 3rd party vendors that perform collection work for SBL. Determine which accounts will be referred to Collection Agencies on a monthly basis. Monitoring performance from all Agencies, and establish goals for each Agency to maximize performance. Perform various audits on each Agency at least semi-annually to review effectiveness and adherence to WAMU standards. Manage a staff of 2 Agency Managers; adhere to Company policy & standards, semi annual performance evaluations and recommendations as warranted. Manage process of reviewing charged off loans and lines of credit after all efforts to work out repayment program with debtor have been exhausted.  Review documentation to determine responsible parties.  Manage process of the thorough review of a loan’s servicing history for errors or deficiencies and communicate errors to appropriate personnel for expedited resolution as necessary. Assign staff and manage the preparation of accounts for assignment to third party collection agencies, including accurate balance information, responsible parties, and additional information as requested by agencies.  Track accounts assigned for agency acknowledgement.  Manage processing of agency payments received and track effectiveness of agency recovery efforts. Respond to questions and requests for information from agencies, assign staff as warranted. Communicate with agencies in dispute resolution, bankruptcy filing, other actions that affect collection of debt and provide guidance as needed. Evaluate and recommend settlement requests as appropriate.  Maintain information in order to provide specific reporting on recoveries as requested. Set goals for all Collection Agencies Monitor performance through monthly calls and status reports Assign and /or perform at a minimum semi-annual audits to gauge results, performance and adherence to standards. Make recommendations to release or hire new Vendors as warranted. Perform staff evaluations and recommendations Review overall progress of unit and report back to management Manage budget for Unit Analyze all invoices/billing for accuracy Ensure Collection systems are updated with pertinent information Qualifications: High school diploma required. Bachelor's degree preferred Operational understanding of the Fair Debt Collection Act (FDCPA) along with local, state, and federal collection regulations  Excellent oral and written communication skills   5 to 7 Years of related experience. Or the equivalent combination of experience and education that demonstrates the ability to perform the essential functions of this position 3-5 years Management experience Excellent customer service skills Commercial loan experience preferred Proficient technical skills 5+ years Portfolio mgmt experience preferred  Washington Mutual is an Equal Opportunity Employer. We embrace differences, welcome diversity, and value a culture of respect.