Loss Mitigation Specialist

Safe Harbor Credit Union • Pere Marquette Charter Township, MI

11h • Onsite

About The Position

The Loss Mitigation Specialist is responsible for proactively managing delinquent and high-risk loan accounts to minimize financial loss and support portfolio performance. This role focuses on early intervention, borrower engagement, and the development of effective resolution strategies, including repayment plans, loan modifications, and other workout solutions. The specialist conducts detailed financial analyses, evaluates risk factors, and collaborates with internal departments to ensure timely and compliant resolution of troubled loans.
This position plays a critical role in preserving asset quality, maintaining regulatory compliance, and supporting members/borrowers through financial hardship while protecting the organization’s financial stability.

Requirements

• High school diploma or equivalent required; Associate’s or Bachelor’s degree in finance, business, or related field preferred.
• Minimum of 2–5 years of experience in collections, loss mitigation, loan servicing, or financial services.
• Experience within a credit union or banking environment strongly preferred.
• Familiarity with consumer, mortgage, and indirect lending portfolios.
• Strong knowledge of collection practices, loss mitigation strategies, and loan servicing processes.
• Understanding of applicable regulations (NCUA, CFPB, FDCPA, FCRA, bankruptcy laws, foreclosure processes)
• Ability to analyze financial information and assess borrower repayment capacity.
• Excellent communication and negotiation skills.
• Strong attention to detail and organizational skills.
• Ability to manage multiple priorities in a fast-paced environment.
• Proficiency in core banking systems, Microsoft Excel, and reporting tools.
• Ability to handle sensitive situations with professionalism and confidentiality.

Nice To Haves

• Associate’s or Bachelor’s degree in finance, business, or related field preferred.
• Experience within a credit union or banking environment strongly preferred.

Benefits

• Health insurance
• Dental insurance
• Vision insurance
• Short-term disability
• Long-term disability
• Life insurance

What This Job Offers

• Job Type: Full-time
• Career Level: Mid Level
• Education Level: High school or GED
• Number of Employees: 1-10 employees