Loss Mitigation Specialist - ON SITE

CONNEX CREDIT UNION INC•North Haven, CT

2d•$48,982 - $73,473•Onsite

About The Position

Are you looking to have a positive impact on people in your community? Connex Credit Union is looking for diverse talent who are motivated to improve the financial well-being of others. We’re a company with a long and successful history where trust is important and exceptional customer service is the standard. We are committed to our employees, our members and the communities we serve. If you want to make a difference and be part of a growing, inclusive organization, join us in our mission. The Loss Mitigation Specialist is responsible for performing loss mitigation and recovery activities regarding delinquent or charged-off accounts and loans in accordance with Connex and legal guidelines. This Specialist makes routine collection calls on accounts that show a propensity for serious delinquency and requires little guidance on non-routine situations. Ensures attainment of department and credit union goals to minimize loss and enhance loss recovery. Furthermore, the Specialist performs collection activities for multiple products, utilizing various systems and methods; participates in the early, mid- or late-stages of the collection process to include loss mitigation, foreclosures, repossessions, pre charge-off, charge-off, recovery, bankruptcy, modifications and short sales as well as agency liaison collections. The position has a direct impact regarding the mitigation and recovery of losses.

Requirements

3-5 years similar mitigation and collection experience
High school degree
Sound judgment and decision making abilities.
Excellent problem-solving, organizational, analytical, verbal and written communication skills
Strong time management skills with the ability to manage multiple projects/assignments
Results driven, service oriented, self-motivated and able to work independently
Trustworthy with the ability to maintain highest level of integrity and trust
Knowledge of housing, direct/indirect auto lending, and trends in the industry.
Strong knowledge of Microsoft applications.
Continued education through selected training courses.
After hours meetings required.
Ability to work 40+ hours per week.
Other duties as assigned.

Responsibilities

Review general collection accounts and delinquent loans to determine which accounts require the initiation of collection actions.
Determines best methods of locating debtors; and determines and verifies debtors’ whereabouts, employment, earnings, liabilities, assets, and ability to pay.
Investigate, evaluate, and analyze financial statements related to debtor income, assets, and employment history in order to determine ability to pay; sets terms and methods of repayment; completes financial forms with information received from the debtor, credit reports, and other creditors; and uses computerized collection programs to monitor payment schedules for compliance.
Completes a full review of Modification and Short Sale packages received by the Collections Clerk and performs a comprehensive detailed analysis of income and expenses.
Required to work interdepartmentally with direct Manager and the Lending Department to determine the potential loss on mitigation options.
Issue documentation to attorney’s in effort to recover balances on Secured and Unsecured loans other than real estate.
File Vehicle Supplemental Insurance (VSI), OpenLending and FannieMae claims.
Maintain recovery and posting of recovered claim funds.
Set values for repossessed vehicles to be sold at auction including opening bid, floor value, with leeway.
Performs additional duties as assigned.