Loss Mitigation Specialist
Start a Rewarding Career with Alliant
What makes this role rewarding?
The Loss Mitigation Specialist is responsible for managing the operations of the bankruptcy functions within the credit union and charged-off loans to collection agencies and attorneys. Additionally, the Loss Mitigation Specialist is responsible for process improvement efforts. Work involves moderate difficulty in accurately preparing legal documents and making recommendations regarding negotiated resolutions of bankruptcy matters upon notification of bankruptcy filings. Receives and processes charged-off accounts to third-party agencies. Evaluates new software versions and works to support Loss Prevention team with enhancements to Akcelerant. Resources to do the job require reliance on technical knowledge of department policy, state and federal bankruptcy laws, as well as collection guidelines. General supervision is received from the Manager, Loan Servicing.
Responsibilities
Do you see yourself doing this?
- Process required legal bankruptcy documentation based on Chapter 7 & Chapter 13 bankruptcy laws, and rules and regulations
- May work directly with members and their attorneys to minimize credit union loss due to bankruptcy
- Coordinates and manages accounts sent to third party vendors
- Follows up with vendors to ensure appropriate efforts and aggressive goals are achieved
- Maintains working relationships with attorneys, vendors, and agencies that work in cooperation with the collections and specialty areas
- Audits, reconciles, and applies monthly agency remittance statements and bankruptcy trustee payments
- Responds to charged off member’s questions or concerns via phone or email
- Ensures accurate understanding and proactive management of charged off inventory
- Creates and delivers informative reporting to show vendor performance
Qualifications
What makes you a great fit?
You’ll be a great fit if in addition to college degree and minimum two to four years’ experience as a collections/loan servicing representative or an equivalent combination of training and experience you:
- Must be results and improvement driven, customer-service and quality-focused, and have the ability to work in a fast-paced, team oriented environment
- Must practice sound judgment and support team engagement activities
- Must possess excellent communication, organizational and problem solving skills
- Must possess higher level knowledge of regulations relating to lending or collection laws
- Must be skilled at MS. Excel
- Strong oral, written and interpersonal communication skills is required
When you’re happy, we’re happy!
As a thank you for joining our team, you’ll benefit from:
- Casual dress code
- Competitive medical, dental, and free vision benefits
- On-site massages and contributions towards gym memberships
- Generous PTO and banking holidays off