Allison Farber
Marblehead,MA
Summary
Legal Professional and Default Servicing Operational Manager with 16+ years of experience, specializes in default servicing with a proven history of creating efficiencies bank Demonstrated ability to lead teams in managing and collecting loans in default and ensuring compliance with regulatory standards. Adept at using innovative technologies and methodologies to drive transformative solutions in the banking and legal sectors.
Overview
15
15
years of professional experience
Work History
Vice President
Salem Five Cents Savings Bank
Salem
01.2023 - 02.2024
- Developed and implemented strategies to enhance the bank's default management processes, ensuring efficiency and accuracy in collections and foreclosure procedures
- Stayed updated on industry trends and regulations to proactively address potential risks and enhance the bank's asset protection strategy
- Identified and evaluated opportunities to create operational efficiencies and streamline processes within the Default Management Framework
- Provided best practice guidance oversight and training to a 6-person team responsible for collection and loss mitigation efforts related to residential mortgage loans and consumer loan products
- Worked with Legal Complaints Manager on all vendor contract issues
- Drafted all responses to the proper regulatory body.
Vice President
Eastern Bank
Lynn
02.2022 - 12.2022
- Provided leadership and direction to a 15-person team responsible for collecting residential mortgage, commercial, and consumer loans in default
- Implemented data-driven decision-making processes to organize and track all collection and recovery activities while mitigating risk, identifying control gaps, and protecting company assets.
Assistant Vice President
Eastern Bank
Lynn
02.2020 - 01.2022
- Developed and lead training programs for the 4-person Default Management team to ensure compliance with regulatory requirements, improve efficiency in collections processes, and enhance overall customer service skills, leading to higher productivity and reduced operational risks
- Implemented innovative technology solutions to streamline default management processes and enhance efficiency, reducing manual hours of work and increasing team productivity, leading to improved operational performance and cost savings.
Bankruptcy Compliance Analyst
Eastern Bank
Lynn
12.2017 - 01.2020
- Responsible for all consumer and commercial bankruptcy matters for the bank
- Collaborated with legal department to ensure all bankruptcy compliance procedures aligned with current federal and state laws
- Provided detailed, understandable risk and compliance concepts to key stakeholders and devised strategies to improve processes and risk controls and created enhanced best practices guidelines and procedures to improve and correct operational processes and ensure adherence to all regulatory requirements.
Paralegal
Law Office of Jeffrey W. Shub
Salem
10.2008 - 06.2017
- Collaborated with attorneys to develop case strategies by conducting extensive legal research and analysis, providing valuable insights and perspectives for successful litigation outcomes
- Negotiated settlements and managed recovery program while providing valuable insights and strategic approaches to the resolution of legal matters.
Education
J.D. -
NORTHEASTERN UNIVERSITY SCHOOL OF LAW
Boston, MA05.1999
Bachelor of Arts: English -
CLARK UNIVERSITY
Worcester, MA05.1996
Skills
- Process Improvement
- Data Analysis
- Workflow Optimization
- Policy compliance
- Internal Controls
- Audit Planning
- Risk Management
- Strategy Development
Timeline
Vice President
Salem Five Cents Savings Bank
01.2023 - 02.2024
Vice President
Eastern Bank
02.2022 - 12.2022
Assistant Vice President
Eastern Bank
02.2020 - 01.2022
Bankruptcy Compliance Analyst
Eastern Bank
12.2017 - 01.2020
Paralegal
Law Office of Jeffrey W. Shub
10.2008 - 06.2017
J.D. -
NORTHEASTERN UNIVERSITY SCHOOL OF LAW
Bachelor of Arts: English -
CLARK UNIVERSITY
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