Loss Mitigation Specialist I - FT Corp

Role

Plans, organizes, and directs the activities of the Loss Mitigation Specialists. Carries out supervisory responsibilities in accordance with the credit union’s policies and applicable laws. Responsibilities include training, assigning, planning, directing work, appraising performance, and addressing complaints and resolving problems. Makes recommendations regarding action on delinquent loans/accounts, including workout loans, deferments, and extensions. Assists with reviewing, recognizing, and recommending accounts for civil or small claims action by AltaOne’s legal counsel. Conducts risk analysis and mitigation. Identifies risk management issues and trends and provides reporting to management. Required to work 3 days per week in office as needed.

Major Duties and Responsibilities

Coordinates weekly dialer campaign of delinquent accounts.

Reviews Collector queues monthly for any anomalies and provides feedback to management for a resolution.

Reviews Collector queues to ensure proper penetration of assigned accounts is occurring. If any errors are identified, works with Temenos and/or Sr. Management to resolve the issue.

Reviews collector calls according to quality control matrix and provides coaching and feedback to Collectors.

Recommends strategies to address negative trends and/or risk factors that have been identified.

Facilities team huddles to share trends and/or important topics with Collections team.

Directs and oversees investigations of incidents that may result in a loss to the credit union.

Reviews accounts for recommendations on repossessions, disposition of collateral, foreclosures, liquidation of properties, municipal actions, civil actions, and criminal actions when necessary.

First point of contact for any escalated member issues or complaints for Loss Mitigation specialists.

Consults with credit union departments and affiliates in establishing procedures and processes to ensure accurate risk identification, evaluation, and control.

Collaborates with compliance department on fraud issues and trends.

Represents the credit union and participates in professional networks to stay abreast of current laws, regulations, and trends related to collections.

Develops, implements, and manages loss mitigation strategy and operations to meet market needs and ensure effective deliver to members.

Responsible for accuracy and timeliness of any departmental reports.

Ensures that JIRA tickets are worked timely and efficiently by loss mitigation staff.

Oversees and completes all projects as assigned. Keeps management apprised of all critical issues.

Recommends and/or approves repossessions.

Knowledge and Skills

Experience

Two to Five years of similar or related experience, including time spent in preparatory positions.

Education/Certifications/Licenses

A high school diploma or GED is required.

Interpersonal Skills

A significant level of trust, credibility and diplomacy is required. In-depth dialogue, conversations and explanations with customers, direct and indirect reports and outside vendors can be of a sensitive and/or highly confidential nature. Communications may involve motivating, influencing, educating and/or advising others on matters of significance. Typically includes subject matter experts as well as first level to middle managers.

Other Skills

Must be able to operate a computer keyboard by touch and be proficient with MS Office. Must be detail orientated with numbers. Must be able to sit for long periods of time. Must possess basic Math skills.

ADA Requirements

Physical Requirements

Perform primarily sedentary work with limited physical exertion and occasional lifting of up to 10 lbs. Must be capable of climbing/descending stairs in emergency situation. Must be able to operate routine office equipment including telephone, copier, facsimile, and calculator. Must be able to routinely perform work on computer for an average of 6-8 hours per day, when necessary. Must be able to work extended hours whenever required or requested by management. Must be capable of regular, reliable and timely attendance.

Working Conditions

Must be able to routinely perform work indoors in climate-controlled shared work area with minimal noise.

Mental and/or Emotional Requirements

Must be able to perform job functions independently and with limited supervision. Must work effectively as part of a team. Must be able to read and carry out various written instructions and follow oral instructions. Must be able to speak clearly and deliver information in a logical and understandable sequence. Must be able to perform basic financial calculations with accuracy. Must be capable of dealing calmly and professionally with numerous different personalities from diverse cultures at various levels within and outside of the organization and demonstrate highest levels of customer service and discretion when dealing with the public. Must be able to perform responsibilities with composure under stress of deadline, requirements for extreme accuracy and quality and/or fast pace. Must be capable of exercising highest level of discretion on confidential matters.