Collections and Loss Mitigation - Loss Mitigation Specialist

Golden 1 Credit Union • Sacramento, CA

2d • Hybrid

About The Position

Golden 1 Credit Union is seeking a Loss Mitigation Specialist to help members address financial challenges while reducing risk and preserving long-term relationships. The role combines empathy, financial analysis, and problem-solving to assess defaults and identify appropriate loan workout solutions. It is based in Sacramento, California, with a hybrid workplace arrangement, and reports to the Supervisor - Loss Mitigation.

The specialist reviews member financial documentation, coordinates and monitors payment arrangements, prepares analyses and documents for workout options, and maintains accurate account records and tracking reports. The role also requires familiarity with Member Care specialty areas and applicable state and federal compliance requirements. The position is non-exempt and has a listed pay range of $24.50–$28.00 per hour.

Golden 1 describes its total rewards approach as including comprehensive compensation, well-being and work-life balance, career development and growth, rewards and recognition, and a commitment to diversity, equity, and inclusion.

Requirements

• Associate’s degree in a related field or equivalent work experience.
• At least 3 years of experience in default management, loss mitigation, or a related field such as underwriting or credit, with banks, savings and loans, credit unions, or other finance companies.

Responsibilities

• Communicate with members to determine reasons for default and request additional relevant information.
• Analyze member financial documentation to identify the most effective workout option.
• Maintain knowledge of state and federal laws and regulations related to credit union compliance, including applicable Bank Secrecy Act and anti-money laundering laws.
• Coordinate payment arrangements with members, follow up promptly, and document member contacts on accounts.
• Promote and negotiate mutually beneficial loan workout solutions that support members and reduce delinquencies.
• Prepare analyses and documentation for loan modifications, repayment plans, forbearance plans, and other workout options.
• Identify qualifying workout cases and submit them to the manager for approval.
• Collaborate with others to support efficient, effective, and timely completion of Member Care projects.
• Maintain knowledge of Member Care specialty areas, including negative shares, repossessions, suits, foreclosures, and bankruptcies.
• Review and document account summaries of actions taken, including calls, alternative financial arrangements, and letters, to assess whether escalated Member Care efforts are needed.
• Maintain positive relations with members, credit union departments, and branches while discussing sensitive personal financial circumstances tactfully.
• Update relevant systems with member communications, notes, and action items.
• Process and update workout tracking reports daily.
• Process vendor invoices.
• Assist the manager and/or supervisor with other duties as assigned.

Benefits

• The company describes a total rewards package that includes comprehensive compensation, well-being and work-life balance, career development and growth, rewards and recognition, and a commitment to diversity, equity, and inclusion.

What This Job Offers

• Job Type: Full-time
• Education Level: Associate degree