Principal Loan Workout Manager

Summary

Join Mulligan Funding as a Principal Loan Workout Manager and manage a portfolio of complex accounts, ensuring timely and compliant resolution. Collaborate with various teams and external agencies to develop and execute tailored resolution strategies. This role demands expertise in late-stage collections, legal processes, and regulatory requirements, along with strong communication and negotiation skills. You will negotiate repayment plans, prepare legal documents, and mentor junior team members. Mulligan Funding offers a competitive salary and a comprehensive benefits package, including medical, dental, vision, paid time off, retirement plan, and professional development opportunities.

Requirements

• A Bachelor’s degree in Business, Finance, or a related field
• 7+ years of experience in account servicing and collections, or a related field
• 4+ years of late-stage and legal collections experience, including complaints, judgments, garnishments, and liens
• Proficiency in Credit & Collections Software, Salesforce CRM, and Excel
• Expertise in issue resolution, negotiation, outbound collection calling, skip tracing, and handling legal documents
• Strong power skills, including adaptability, collaboration, communication, creativity, critical thinking, customer service, emotional intelligence, organizational skills, problem-solving, and time management

Responsibilities

• Manage high-value and legally complex delinquent accounts, ensuring efficient resolution while maintaining compliance with applicable regulations
• Collaborate with the collections team, external agencies, and in-house counsel to assess account statuses and execute tailored resolution strategies
• Prepare, review, and oversee legal documents, including demand letters, settlement agreements, and other account-related materials
• Negotiate repayment plans, loan modifications, or settlements with customers, balancing organizational goals/objectives with legal requirements
• Provide collection strategy and loss mitigation expertise to the account servicing and collections teams
• Build and maintain strong relationships with external vendors, including attorneys and collection agencies, to support account resolution
• Serve as the primary liaison between internal departments and external legal or collections agencies
• Monitor and report on portfolio performance, identifying trends and recommending process improvements to mitigate delinquencies and losses, and enhance operational efficiency
• Stay informed of legal and regulatory changes impacting collections, ensuring adherence to all relevant laws and policies
• Mentor and train junior team members, sharing best practices in collections and operational compliance
• Perform other duties as assigned

Preferred Qualifications

Preferred experience with Uniform Commercial Code (UCC) law

Benefits

• Medical, vision, and dental benefits to support you and your family
• Flexible Spending Accounts (FSA) for eligible healthcare and dependent care expenses
• A 401(k) with matching contributions to help you plan for retirement
• Paid time off, including sick leave, vacation, and holidays
• Paid parental leave for growing families
• A Lifestyle Spending Account (LSA) for athletic and wellness expenses
• An employer-sponsored Life and AD&D policy, with options for additional coverage
• A Learning Stipend for professional development activities
• An Employee Assistance Program (EAP) and travel assistance services
• Complimentary snacks and refreshments in the breakroom
• A referral program that rewards you for bringing in top talent
• Company events to connect, celebrate, and grow together