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Local Government Federal Credit Union · 3 hours ago

Loss Mitigation Specialist (Collections)

Raleigh, NC

Full-time

Onsite

Mid Level

4+ years exp

Local Government Federal Credit Union is dedicated to fostering a healthy environment and supporting community prosperity. The Loss Mitigation Specialist is responsible for managing delinquent accounts, working with members to resolve payment issues, and implementing strategies to mitigate loan losses.

BankingFinancial Services

Comp. & Benefits

Responsibilities

Provide early and late-stage delinquency management by monitoring loan accounts and identify members who are at risk of becoming delinquent

Proactively contact members via phone, email, or other communication methods to discuss their accounts and identify reasons for delinquency

Work with members to develop repayment plans, loan modifications, or other solutions to bring accounts current

Ensure a consultative member approach to restructuring loans as necessary, providing direction on improving the financial outlook of the member in the future

Accurately document all member interactions, payment agreements, and actions plans in the core collection system

Provide members with information on financial education resources and tools to help them manage their finances and avoid future delinquencies

Collaborate as necessary with other internal business units and resources to ensure a coordinated approach to loss prevention

Assist the AVP of Risk Assessment and Loss Mitigation with reviewing reports on delinquency trends, member interactions, and recovery efforts

Ensure all activities are in compliance with federal and state regulations, as well as Credit Union policies, guidelines, and procedures

Take ownership for actions, decisions, and results; openly accept feedback and demonstrate both the willingness and ability to improve

Qualification

Consumer loan collectionsAccounting principlesAnalyzing financial statementsCredit procedures knowledgeBankruptcy law knowledgeOffice equipment proficiencyLoan structuring knowledgeInterpersonal skillsTeamwork

Required

Minimum 4-6 years experience in consumer loan product collections, financial services or related field

Must have an understanding of accounting principles and business financial statements and tax returns

Must be knowledgeable in the process of analyzing personal tax returns, personal financial statements, and credit bureau reports

Experience with credit procedures, policies, regulations and laws, in addition to knowledge of bankruptcy and consumer law

Strong interpersonal skills with ability to work in a team environment

Ability to function in a Consumer business office environment and utilize standard office equipment including but not limited to: PC, copier, telephone, etc

Ability to lift a minimum of 25 lbs. (file boxes, computer)

Travel required on occasion