Loss Mitigation Specialist
About The Position
This role has multiple levels open. The successful candidate will be hired for the level of the position that aligns with their experience. Please note that the salary range provided corresponds to the lowest level of the position posted. Administers a portfolio of performing and non-performing loans. Develops and recommends strategies to maximize recovery and reduce losses and ensure effective restructuring, recovery or charge-off of adversely graded loans. Works with officials of lending and borrowing institutions to better secure collateral, equity or other assets of the borrower. Engages in other activities designed to preserve the loan principal, collect interest as possible, or charge-off the loan if appropriate. This role requires working from our Marshall, MN location three (3) or more days per week.
Requirements
- Bachelor's degree, or equivalent work experience
- One to three years of experience in lending/account management activities
Nice To Haves
- Good working knowledge of credit legal principles, accounting, economics, and financial statement analysis
- Some knowledge of lending interest rates, loan terms and conditions, and real estate methodologies
- Good negotiation skills
- Well-developed customer service/relations skills
- Effective interpersonal, verbal and written communication skills
Responsibilities
- Administers a portfolio of performing and non-performing loans.
- Develops and recommends strategies to maximize recovery and reduce losses and ensure effective restructuring, recovery or charge-off of adversely graded loans.
- Works with officials of lending and borrowing institutions to better secure collateral, equity or other assets of the borrower.
- Engages in other activities designed to preserve the loan principal, collect interest as possible, or charge-off the loan if appropriate.
Benefits
- Healthcare (medical, dental, vision)
- Basic term and optional term life insurance
- Short-term and long-term disability
- Pregnancy disability and parental leave
- 401(k) and employer-funded retirement plan
- Paid vacation (from two to five weeks depending on salary grade and tenure)
- Up to 11 paid holiday opportunities
- Adoption assistance
- Sick and Safe Leave accruals of one hour for every 30 worked, up to 80 hours per calendar year unless otherwise provided by law
- Incentive and recognition programs
- Equity stock purchase
- 401(k) contribution and pension
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What This Job Offers
Job Type
Full-time
Career Level
Entry Level
