| Employer: | Bank of America
| Job Ref No: |
1200003366
| Job Title: |
Vendor Relationship Manager III - Location Open : 1200003366
| Sector: |
Asset Management
| Sub Sector: |
Other
| Risk Type: |
Operational
| Expertise: |
Regulatory/Compliance
|
Responsible for the most complex and highest impact vendor relationships. Responsible for ensuring the bank receives the value we require for vendors we do business with. This position interacts with internal bank clients and the vendor to enforce compliance with contract terms, monitor performance and develop a relationship this is beneficial to both the bank and the vendor.
The Business Support Manager II will be required to review and interpret contractual requirements deriving from the sale of Mortgage Servicing Rights (MSR).
Responsibilities include but not limited to the following:
- Review and interpret contractual requirements deriving from the sale of Mortgage Servicing Rights (MSR) and monitor contract terms to ensure the successor servicer is in compliance with the contractual obligations and SLAs.
- Mortgage Insurance (MI) adverse action, repurchase claims, compensatory fees and performance of files.
- Relationship manager lead for Mortgage Insurance Claim and Representations and Warranty (RW) responsibilities. Responsible to develop successful relationships with successor servicers and internal business partners, which includes the setup, integration, reconciliation, and escalations associated with MI and RW activities. Also, accountable for the strategic direction and execution of the group's business plans.
- Responsible for preparing monthly operations performance package for senior leadership - review operational and financial loss reporting, evaluate performance and quality, and provide key highlights, trends, risks, and opportunities.
- Responsible for the set up and integration of new successor servicers into the Bank's MI Audit and Rep and Warrant, and Doc Custody teams
- Ensure uniformity across all successor servicers interface and reporting protocols with the Bank
- Responsibility for the reconciliation of MI and RW accounts with multiple successor servicers and the Bank's activities.
- Must identify, analyze, and resolve complex problems related to functional areas using general practices and precedents to resolve, and new strategies that are appropriately reviewed and approved with key stakeholders.
- Drive, coordinate and lead recurring business routines with successor servicers and internal stakeholders. Meets regularly with business stakeholders to keep appraised of strategic direction and how it would be supported by current and future successor servicer relationships.
- Maintain and manage end-to-end business log. Develop prioritization framework and ensure timely resolution of all milestones and deliverables.
- Continuously evaluate and improve process and operational effectiveness and efficiency.
- Hire, train and manage appropriate support resources.
Qualifications
Required Skills:
- Bachelor's Degree
- 5+years experience in mortgage default servicing in assessing operational contract law, and financial reporting
- 5+ years managing and motivating a team
- Solid analytical skills a must
- Conceptual and logical thinker to understand and interpret contractual language, policy, procedures, and process flows for implementation.
- Strong business judgment and proven record of successful negotiation and relationship management skills.
- Able to lead change and influence business direction in a fast-paced, complex cross-functional matrix organization.
- Credibility to influence business partners, peers and executive management.
- Ability to establish and maintain collaborative partnerships across the organization and with external partners and provide leadership to the team.
- Utilizes strong analytical acumen to synthesize detailed data and develop strategies.
- Results oriented, self-starter with proven track record of implementing / executing complex projects.
- Proven ability to meet deadlines and manage in a dynamic environment.
- Excellent written and verbal communication
- Advanced MS Office with Excel and PowerPoint a must.
Desired Skills:
- MBA Preferred
- Solid understanding of Mortgage Insurance & Reps & Warranty systems, processes, & organization
- Six Sigma Green/Black Belt Certified
| Region/Country: |
Americas, United States
| States/Counties: |
California
| City: |
United States
| Address: | | Post Date: | 02/09/2012 |
