Ocwen Financial
Director, Commercial Special Servicing
Ocwen Financial, West Palm Beach, Florida, United States, 33412
Job Description
The Director, Commercial Special Servicing will report directly to the Vice President, Commercial Servicing and lead the Special Servicing team, playing a pivotal role in executing strategic initiatives to identify, evaluate, and resolve defaulted assets through liquidation. This role requires deep expertise in loss mitigation and asset disposition, commercial servicing operations, securitizations, and CREFC reporting; in addition, it involves close coordination with internal stakeholders-including shared services business units, legal, risk, and compliance-as well as external partners such as rating agencies, investors, and clients.
Job Functions and Responsibilities:
To perform this job successfully, an individual must be able to perform each essential duty satisfactorily.
Strategic Leadership & Transformation Execute on strategic direction and oversight for the Commercial Special Servicing division to enhance operational efficiency, client satisfaction, and profitability. Serve as a key advisor to the Vice President on business planning, risk management, and market positioning. Collaborate with Legal, Compliance, IT, Finance, Shared Services, and third-party vendors to optimize and align service delivery strategies with corporate goals. Operational Oversight & Innovation
Oversight of day-to-day operations, ensuring adherence to service level agreements, investor requirements, and regulatory standards. Lead the implementation of servicing products/technologies/AI driven solutions and design scalable operational frameworks, including automationand process reengineering Oversee the development and refinement of KPI dashboards and internal controls to ensure operational excellence and performance tracking. Design, implement, and continuously improve Special Servicing's processes, policies, and procedures, - to include loss mitigation strategies, pursuing personal guarantees, deficiency judgements, Federal FC actions, and asset dispositions through auctions, note sales, etc. ensuring integration with broader Commercial team materials Collaborate with internal, corporate teams to develop tools that support the analysis and resolution of special serviced loans (NPV, Stop Advance, etc.)Develop, enhance and maintain systems that deliver asset-specific recommendations and track progress through resolution. Address escalated issues and drive resolution through cross-functional collaboration. Governance, Risk & Compliance
Lead risk and compliance efforts, ensuring full compliance with all applicable laws, regulations, and investor guidelines through proactive monitoring, internal and external audits, risk assessment initiatives, and implementing mitigation strategies to safeguard the organization's servicing/subservicing portfolio. Represent the department in regulatory reviews, investor audits, and rating agency engagements People Leadership & Development
Lead, mentor, and develop a global team of 10+ employees from associates to senior managers located in the US and APAC. Foster a culture of accountability, innovation, and continuous improvement. Oversee workforce planning, succession management, and leadership development initiatives. Engage constructively in team discussions and decision-making forums. Client & Stakeholder Engagement
Serve as a senior point of contact for key clients, investors, and internal stakeholders, ensuring transparency and responsiveness for their span of responsibility. Prepare and deliver risk assessments and executive-level reporting at monthly business review meetings. Collaborate and participate in client onboarding and integration efforts, including due diligence, contract negotiation, and operational readiness. Qualifications:
To perform this job successfully, an individual must have the following education and/or experience:
Bachelor's or Master's degree in Business, Finance, Real Estate, or related field 10+ years of progressive experience in commercial mortgage servicing operations, Special Servicing asset management - Loss Mitigation, Default Servicing and REO disposition, with at least 5 years in a leadership/supervisory role. Strong verbal and written communication skills Ability to work independently/self-motivate as well as in a team environment Demonstrable problem solving and decision making skills Ability to speak and present in front of groups Ability to interact in social settings with client personnel at senior levels Well-organized and detail oriented; meet deadlines while managing simultaneous projects and changing priorities Ability to maintain strict confidentiality Training / Licensing Requirements:
Must pass the Company's Background Screening process prior to beginning employment. Additionally, as a condition of employment, you may be required to pass client-specific background check requirements or Federal/State licensing requirements, if applicable.
The salary range for this position is expected to be $145,000 to $165,000 per year, depending on geographic location, experience, and other qualifications of the successful candidate. This position is also eligible for annual bonus based on performance and subject to the terms of the Company's applicable plans.
#PHH
About Us
Onity Group Inc. is a leading non-bank mortgage servicer and originator providing solutions through its primary brands, PHH Mortgage and Liberty Reverse Mortgage.
PHH Mortgage, a subsidiary of Onity Group Inc., has been providing mortgage lending and servicing solutions since 1984 and is dedicated to maintaining responsible and ethical practices while delivering an exceptional customer experience. PHH offers industry-leading mortgage solutions for the entire mortgage lifecycle, including correspondent lending, MSR/Co-Issue, subservicing, commercial servicing, reverse mortgages and portfolio retention. We are one of the largest subservicers of residential mortgages in the United States and one of only two servicers in reverse mortgage lending.
At Onity Group Inc., we consistently deliver on our commitments to customers, clients, investors and colleagues through caring service, integrity and creative solutions. This Service Excellence philosophy is embraced by meeting service standards we call CARE, which stands for Caring, Accurate, Responsive and Empowered. We expect all employees to interact and engage our colleagues and our customers with respect, courtesy and professionalism, and to achieve results consistent with our CARE standards.
Onity Group Inc. is intensely focused on hiring, developing and retaining the best talent in the industry! Our commitment to Diversity, Equity & Inclusion ensures that we sustain our reputation as an outstanding place to work, a great business partner and a valued community member. We are committed to equal employment opportunity regardless of race, color, ancestry, religion, sex, national origin, sexual orientation, age, citizenship, marital status, disability, gender identity or Veteran status. If you have a disability or special need that requires accommodation, please let us know.
Onity Group Inc. offers a comprehensive benefits package including medical, dental and vision; up to 3% match on 401(k) contributions; generous paid time off; company-paid life, accident and disability coverage; programs for mental, physical and financial wellness; and more. Visit jobs.onitygroup.com for details.
The Director, Commercial Special Servicing will report directly to the Vice President, Commercial Servicing and lead the Special Servicing team, playing a pivotal role in executing strategic initiatives to identify, evaluate, and resolve defaulted assets through liquidation. This role requires deep expertise in loss mitigation and asset disposition, commercial servicing operations, securitizations, and CREFC reporting; in addition, it involves close coordination with internal stakeholders-including shared services business units, legal, risk, and compliance-as well as external partners such as rating agencies, investors, and clients.
Job Functions and Responsibilities:
To perform this job successfully, an individual must be able to perform each essential duty satisfactorily.
Strategic Leadership & Transformation Execute on strategic direction and oversight for the Commercial Special Servicing division to enhance operational efficiency, client satisfaction, and profitability. Serve as a key advisor to the Vice President on business planning, risk management, and market positioning. Collaborate with Legal, Compliance, IT, Finance, Shared Services, and third-party vendors to optimize and align service delivery strategies with corporate goals. Operational Oversight & Innovation
Oversight of day-to-day operations, ensuring adherence to service level agreements, investor requirements, and regulatory standards. Lead the implementation of servicing products/technologies/AI driven solutions and design scalable operational frameworks, including automationand process reengineering Oversee the development and refinement of KPI dashboards and internal controls to ensure operational excellence and performance tracking. Design, implement, and continuously improve Special Servicing's processes, policies, and procedures, - to include loss mitigation strategies, pursuing personal guarantees, deficiency judgements, Federal FC actions, and asset dispositions through auctions, note sales, etc. ensuring integration with broader Commercial team materials Collaborate with internal, corporate teams to develop tools that support the analysis and resolution of special serviced loans (NPV, Stop Advance, etc.)Develop, enhance and maintain systems that deliver asset-specific recommendations and track progress through resolution. Address escalated issues and drive resolution through cross-functional collaboration. Governance, Risk & Compliance
Lead risk and compliance efforts, ensuring full compliance with all applicable laws, regulations, and investor guidelines through proactive monitoring, internal and external audits, risk assessment initiatives, and implementing mitigation strategies to safeguard the organization's servicing/subservicing portfolio. Represent the department in regulatory reviews, investor audits, and rating agency engagements People Leadership & Development
Lead, mentor, and develop a global team of 10+ employees from associates to senior managers located in the US and APAC. Foster a culture of accountability, innovation, and continuous improvement. Oversee workforce planning, succession management, and leadership development initiatives. Engage constructively in team discussions and decision-making forums. Client & Stakeholder Engagement
Serve as a senior point of contact for key clients, investors, and internal stakeholders, ensuring transparency and responsiveness for their span of responsibility. Prepare and deliver risk assessments and executive-level reporting at monthly business review meetings. Collaborate and participate in client onboarding and integration efforts, including due diligence, contract negotiation, and operational readiness. Qualifications:
To perform this job successfully, an individual must have the following education and/or experience:
Bachelor's or Master's degree in Business, Finance, Real Estate, or related field 10+ years of progressive experience in commercial mortgage servicing operations, Special Servicing asset management - Loss Mitigation, Default Servicing and REO disposition, with at least 5 years in a leadership/supervisory role. Strong verbal and written communication skills Ability to work independently/self-motivate as well as in a team environment Demonstrable problem solving and decision making skills Ability to speak and present in front of groups Ability to interact in social settings with client personnel at senior levels Well-organized and detail oriented; meet deadlines while managing simultaneous projects and changing priorities Ability to maintain strict confidentiality Training / Licensing Requirements:
Must pass the Company's Background Screening process prior to beginning employment. Additionally, as a condition of employment, you may be required to pass client-specific background check requirements or Federal/State licensing requirements, if applicable.
The salary range for this position is expected to be $145,000 to $165,000 per year, depending on geographic location, experience, and other qualifications of the successful candidate. This position is also eligible for annual bonus based on performance and subject to the terms of the Company's applicable plans.
#PHH
About Us
Onity Group Inc. is a leading non-bank mortgage servicer and originator providing solutions through its primary brands, PHH Mortgage and Liberty Reverse Mortgage.
PHH Mortgage, a subsidiary of Onity Group Inc., has been providing mortgage lending and servicing solutions since 1984 and is dedicated to maintaining responsible and ethical practices while delivering an exceptional customer experience. PHH offers industry-leading mortgage solutions for the entire mortgage lifecycle, including correspondent lending, MSR/Co-Issue, subservicing, commercial servicing, reverse mortgages and portfolio retention. We are one of the largest subservicers of residential mortgages in the United States and one of only two servicers in reverse mortgage lending.
At Onity Group Inc., we consistently deliver on our commitments to customers, clients, investors and colleagues through caring service, integrity and creative solutions. This Service Excellence philosophy is embraced by meeting service standards we call CARE, which stands for Caring, Accurate, Responsive and Empowered. We expect all employees to interact and engage our colleagues and our customers with respect, courtesy and professionalism, and to achieve results consistent with our CARE standards.
Onity Group Inc. is intensely focused on hiring, developing and retaining the best talent in the industry! Our commitment to Diversity, Equity & Inclusion ensures that we sustain our reputation as an outstanding place to work, a great business partner and a valued community member. We are committed to equal employment opportunity regardless of race, color, ancestry, religion, sex, national origin, sexual orientation, age, citizenship, marital status, disability, gender identity or Veteran status. If you have a disability or special need that requires accommodation, please let us know.
Onity Group Inc. offers a comprehensive benefits package including medical, dental and vision; up to 3% match on 401(k) contributions; generous paid time off; company-paid life, accident and disability coverage; programs for mental, physical and financial wellness; and more. Visit jobs.onitygroup.com for details.