1 Consumer Loss Mitigation Specialist Job in St. Louis, MO

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Consumer Loss Mitigation Specialist

Together Credit Union

St. Louis, MO | Full Time

$52k-66k (estimate)

1 Week Ago

Consumer Loss Mitigation Specialist

$52k-66k (estimate)

Full Time 1 Week Ago

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Together Credit Union is Hiring a Consumer Loss Mitigation Specialist Near St. Louis, MO

Job Summary

The consumer loss mitigation specialist is responsible for secured and unsecured consumer loan, Visa credit card, and private education loan loss mitigation. This position provides repayment solutions through member outreach efforts and presents options for collateral retention.

Job Responsibilities

The intent of this job description is to provide a representation of the types of duties and level of responsibilities required of this position and is not intended to be an exhaustive list of all responsibilities, duties, and skills. Team members may be directed to perform job-related tasks others than those specifically stated in this description.

Provides financial analysis and counseling to recommend forbearance, consumer loan deferral, refinance, consolidation, extension, or modification solutions.
Assists members with settlement options, voluntary, and involuntary repossession that maximizes loan recovery for the Credit Union.
Uses effective loss prevention techniques to collect on all consumer, credit card, and private education loan loss mitigation.
Corresponds with members in early and late-stage delinquency verbally and/or in writing to obtain financial information and documentation on delinquent loans and to discuss loss mitigation options.
Ensures proper policies, procedures, risk mitigation activities, and operating controls are followed.
Asks direct questions to learn the member’s story and reason for the delinquency and provides financial counseling.
Evaluates and determines temporary or permanent financial hardship and follows up with member accordingly; ensures member fulfills hardship parameters
Audits and analyzes loan application, financial statements, credit report, and other loan documentation to ensure the loan recommendation follows approved policies and procedures.
Reviews borrowers’ information to determine eligibility for loss mitigation assistance and recommends debt counseling agencies as appropriate.
Monitors member obligations such as making trial plan payments and then prepares documents necessary such as forbearance, extension, modification, or voluntary repossession agreements.
Understands private education guidelines, reporting and collection procedures and engages with vendors to discuss delinquency, forbearance, or charge-off options.
Decisions GreenPath, and other third-party payment plan requests within assigned authority and processes payments from collection agencies.
Updates collection system notes with status, core system flags, alerts, and opportunities.
Understands and adheres to all policies, procedures, and regulations.

Required Qualifications

An equivalent combination of education, training, and experience will be considered.

High school diploma
Minimum of 2 years related professional experience.

Knowledge, Skills, and Abilities (KSA’s)

A representation of the knowledge, skills, and abilities necessary to perform this job competently.

Ability to perform duties under minimal supervision and actively engage with supervisor and related departments within the Credit Union to resolve complicated issues.
Ability to work in a fast-paced environment and prioritize work.
Ability to professionally handle confidential and sensitive information, natural tendency towards discretion.
Outstanding customer service skills and demonstrated ability to interact with anticipated audiences in a courteous, service-oriented manner.
Collaborative team player, capable of working well with others, but also autonomously as needed.
Develops trust-based relationships with branches, members, and internal partners.

Work Environment

Environmental or atmospheric conditions commonly associated with the performance of this job’s functions.

Hybrid remote and in-office setting; general office environment when in-office.

Physical Abilities

The physical demands described below are representative of those that must be met by an employee to successfully perform this job’s essential functions. Reasonable accommodations may be made to enable individuals with disabilities to perform essential functions.

Ability to work at a computer in a stationary manner up to 8 hours daily.

Together Credit Union is an Equal Opportunity employer. The Credit Union complies with appropriate federal, state, and local laws and provides equal employment opportunities without regard to race, color, religion, gender, age, sexual orientation, gender identity, national origin, veteran status, disability, or any other protected status to all qualified applicants and employees. Together Credit Union is committed to a policy of non-discrimination and dedicated to providing a positive discrimination-free work environment.