Loss Mitigation Analyst

GreenState Credit Union

Loss Mitigation Analyst

US-IA-North Liberty

Job ID: 2024-3867
Type: Exempt Full-Time
# of Openings: 1
Category: Account Resolutions
GreenState Credit Union

Overview

POSITION SUMMARY:

Single Point of Contact (SPOC) for all written and verbal loss mitigation assistance requests. Manages the application process to ensure completeness and accuracy as well as gathering all supporting documents required. Responsible for all notifications, letters, and correspondence with member as required by state and regulatory guidelines and documents systems with communication, analysis, and decisions. Underwrites retail loss mitigation applications within authority limits or recommends to VP/Account Resolution Manager or Risk Manager based on approval authority and loan type. May also provide support on loss pipeline accounts by analyzing factors causing individual accounts to be delinquent and implementation of efforts to successfully resolve these factors through interaction with the member and recommendation of appropriate Loss Mitigation Product to minimize financial loss to the credit union and restore member’s financial status in accordance with established credit union policy guidelines, and state and federal regulations.

GREENSTATE CULTURE:

At GreenState, we exist to create lasting value for those we serve. We do this by putting immense value into our employees, members and communities. We empower our employees to create endless opportunities, which will then impact the lives of our members and enhance the vitality of our communities.

Salary range for this position is $79,173.90 - $105,966.64 with a progressive benefit package.

Responsibilities

ESSENTIAL DUTIES AND RESPONSIBILITIES:

Performs essential duties and responsibilities in the following areas which may include, but are not limited to those listed and are subject to change:

1. Adheres to the Credit Union's core values and Service Standards in carrying out GreenState's mission and vision.
2. Demonstrates a positive member service (internal and external) focus, greeting members and guests with a smile and eye contact immediately upon their arrival, using their name or acknowledging them, and thanking them for their business.
3. Demonstrates teamwork in all interactions with coworkers and in the completion of all duties and responsibilities.
4. Ensures confidentiality of member information.
5. Supports a diverse and inclusive work environment.
6. Maintains contact with borrower to ensure they understand the current status of their loan workout application, available options, and next steps; remain the "single point of contact" throughout the loss mitigation review process.
7. Makes a diligent effort to obtain the necessary documents and required information from the member when application is incomplete and adheres to regulatory requirements for notices and communication.
8. Arranges for contractual services relating to property inspections and appraisals.
9. Coordinates evaluations on collateral securing retail loans with the Asset Management Team
10. Completes due diligence through title/lien searches ensuring that no issues threaten the lien position of the credit union.
11. Analyzes financial statements, tax returns, credit reports, and the value of the collateral in order to determine and recommend the most feasible and appropriate loss mitigation product for the member.
12. Underwrites the borrower’s income, through the review of paystubs, tax documents, benefit statements, business profit and loss statements, etc.
13. Follows up with borrower to get loan modification agreements signed and closed.
14. Maintains appropriate records and documents the system of record in order to preserve a history of actions taken, communication, analysis, and decision.
15. Possesses higher system permissions and approval authority for all recommended deferments, modifications, TDR’s, and workout loans.
16. Refers members to financial counseling resources when necessary.
17. Plays a vital role in enriching the community by participating in community service organizations and/or credit union sponsored events, on an annual basis.
18. Works cooperatively with VP/Account Resolution Supervisor and Risk Manager on Loss Mitigation Reviews outside of delegated authority.
19. Performs any other duties as assigned.

Qualifications

JOB REQUIREMENTS:

1. Minimum of three years collection experience, two of those years in loss mitigation, in a financial institution with reasonable knowledge of collection practices, consumer credit, real estate and bankruptcy laws and regulations
2. Two-year college degree or completion of a specialized course of study, or completion of a specialized or extensive in-house training or apprenticeship program.
3. Reports to work punctually, works all scheduled hours, and works overtime as necessitated by business demand. At times length of working day can be unpredictable, must be willing and able to work early and/or stay late with short notice.
4. General knowledge of lien positions & perfections
5. Demonstrated excellence in consulting and advising customers via telephone and written communication.
6. Ability and desire to interact with co-workers to develop positive and effective working relationships in all areas of Credit Union services.
7. Interpersonal and persuasive skills necessary to gather data from several sources and to represent the Credit Union in a positive way during periods of stressful member contact.
8. Ability to work independently, prioritize assignments, organize work efficiently, and make decisions independent of input from immediate supervisor.
9. Ability to handle large volumes of details.
10. Accuracy and attention to detail required.
11. Excellent analytical skills
12. Ability to operate related computer applications and office equipment.
13. Must be bondable.

Reporting Relationship
Reports to the Vice President/Account Resolutions.

Supervisory Responsibilities
This position is not responsible for the supervision of other employees.

Equal Opportunity Employment Statement
GreenState Credit Union is an Equal Opportunity Employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, or protected veteran status and will not be discriminated against on the basis of disability. #ID #LI

PIc3933151e87c-30210-35606512

Location: North Liberty, Iowa, US

Posted Date: 11/6/2024