The AVP of Payoffs oversees mortgage servicing operations, ensuring accuracy and efficiency in payoff processes, while leading and mentoring a team.
Who We Are:
Renovo Financial is a rapidly growing Chicago-based private lender serving real estate investors who acquire and renovate single and multi-family residential properties. We pride ourselves on supporting clients by providing unparalleled service, from the loan application through the payoff. Renovo’s reliability and “win-win” solutions- oriented approach is just one reason why our repeat and referral rates far exceed the industry average. Renovo was honored to be named one of Crain’s 50 fastest-growing Chicago companies and the 2022-2024 Top Workplace winner, as recognized by The Chicago Tribune, and 2023 Best Workplace by Inc. Magazine.
Position Summary:
The AVP of Payoffs will play a crucial role in providing leadership and support to our organization in overseeing the seamless execution of payoff/paydown management within our mortgage servicing division. The ideal candidate possesses strong blend of strategic thinking, operational expertise, and team leadership to ensure accuracy, efficiency, and customer satisfaction in all payment-related interactions. This position is exempt from overtime. In this role, you will report directly to the VP of Cash at Renovo Financial.
Responsibilities:
Strategy and Oversight:
- Develop and execute strategic plans for the Cash department in alignment with the company's objectives.
- Establish and implement best practices to optimize payoff/paydown process (ad hoc payoff requests), and associated systems.
- Ensure compliance with regulatory standards and industry requirements pertaining to payoff/paydown drafting requests.
Operational Management:
- Supervise day-to-day operations, including payoff/paydown drafting and quality assurance review, as well as reconciliation activities.
- Collaborate with cross-functional teams to streamline processes, enhance operational efficiency, and minimize errors.
- Enhance, track, and monitor key performance indicators (KPIs) to assess departmental performance and implement improvements.
Technology and Innovation:
- Evaluate, select, and implement new technologies or enhancements to existing systems or current processes to improve payoff and paydown drafting and delivery.
- Drive innovation by exploring and implementing cutting-edge solutions to enhance customer experience and operational efficiency.
Team Leadership and Development:
- Lead and mentor a team of professionals, fostering a culture of accountability, collaboration, and continuous improvement.
- Provide guidance, training, and support to team members to ensure high-quality work output and professional development.
- Perform weekly one-on-one meetings and side by side with staff to further foster job performance and professional development.
Customer Service Experience Focus:
- Collaborate with customer service teams to address payoff-related inquiries and issues promptly and effectively.
Ideal Candidate:
The ideal candidate for this role will have:
- Experience managing teams and driving process improvements.
- Experience ensuring team KPIs are meeting SLA and are meeting or exceeding quality goals
- 3+ years of progressive experience in mortgage servicing or related financial services, with a focus on operations.
- Strong understanding of mortgage servicing operations, regulations, and compliance requirements.
- Proven track record of leadership, strategic thinking, and operational excellence.
- Exceptional communication, problem-solving, and analytical skills.
Pay: From $70,000.00 per year
At Renovo, we’re building a team that reflects a wide range of backgrounds, perspectives, and skills because we believe diverse voices make us stronger. We’re proud to be an equal opportunity employer and welcome applicants of all identities and experiences.
Top Skills
Mortgage Servicing Systems
Technology Enhancements
Renovo Financial Chicago, Illinois, USA Office
222 West Adams St., #3150, Chicago, IL, United States, 60606
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