Loss Mitigation Specialist

Old National Bank•Evansville, IN

1d•Onsite

About The Position

The Loss Mitigation Specialist will focus on real estate secured loans that are 40+ days past due. All efforts are made to assist customers in maintaining possession of their homes or liquidating if they choose. To achieve this, the job requires the Loss Mitigation Specialist to assemble and present a plan that is beneficial to both the borrower and the bank.

Requirements

Ability to handle multiple tasks and deadlines with attention to detail.
Must possess strong oral and written communication skills.
Must have the ability to work independently and use good judgment to make sound decisions.
Must possess an understanding of financial worksheets.
Strong organizational and critical thinking skills, while being self-motivated and understanding sense of urgency.
Ability to effectively communicate with coworkers, peers, and all levels of management through written and verbal communication.
Basic computer skills: Microsoft Excel and Word.

Nice To Haves

Bachelor’s degree in business related field is preferred.
2 to 5 years of experience in loss mitigation, collections, customer service and/or banking is preferred.
AS/400, CBS, MSP and VQN systems experience is helpful.

Responsibilities

Make outbound collection calls and take inbound calls related to Borrowers delinquencies and/or hardships.
Serve as a single point of contact for the Borrowers throughout the resolution process.
Adhere to scheduling and deadlines to follow up with Borrowers throughout the resolution process.
Effectively and respectfully communicate with cohorts and management within ONB, as well as vendors and authorized third parties outside of ONB.
Utilize all necessary Banking and Collection software to document all interactions with Borrowers, vendors, authorized third parties, etc.
Maintain files comprised of documents submitted by Borrowers during Loss Mitigation review.
Create and complete several analyses, forms and templates throughout the resolution process.
Order and maintain various reports and valuations in relation to the collateral properties throughout the loss mitigation process.
Maintain loan documentation from other lines of business within ONB.
Train to identify and understand the regulations that oversee the Bank’s processes, with a focus on the Collection and Loss Mitigation processes.
Follow all regulatory guidelines, through continued training and reference to all regulations while serving as Loss Mitigation Specialist.