What are the responsibilities and job description for the Loss Mitigation Specialist III position at USALLIANCE Financial?
About Us:
At USALLIANCE, we pride ourselves on innovation, teamwork, training and development and career planning. As part of our team, you will have the opportunity to grow both personally and professionally in an inclusive and supportive environment. Represent USALLIANCE in the community and form lasting relationships with our members and partners.
About This Role:
Responsible for overseeing foreclosure processes and complex loan modifications in accordance with regulatory requirements. This role involves communicating with members, performing detailed hardship analyses, and ensuring compliance with regulatory requirements. The ideal candidate will have strong analytical skills, excellent communication abilities, and a compassionate approach to helping members navigate their financial challenges. All accounts are to be resolved in the best interest of the Credit Union by following the established policies, procedures, laws, and regulations.
Key Responsibilities:
- Foreclosure Oversight: Manage and oversee the foreclosure process from initiation to completion. Ensure all actions comply with regulatory requirements and credit union policies. Coordinate with legal counsel, trustees, and other stakeholders to ensure timely and accurate processing of foreclosure cases.
Complex Loan Modifications: Evaluate member financials and propose feasible solutions. Communicate with members empathetically and effectively regarding their appeal of our modification decision. Review submitted documentation to determine the type of hardship or financial situation (short or long-term hardship) prior to determining the appropriate assistance program.
Hardship Appeals: Review member hardship appeals and the reasons for modification decline. Perform detailed analysis of member financials, including income, expenses, and other relevant factors, to provide accurate evaluations and determine feasible solutions.
Detailed Analysis: Produce comprehensive memos and analyses for the Loss Mitigation Manager. Document all interactions and transactions accurately and maintain detailed records.
- Work closely with the Loss Mitigation Manager and other team members to develop and implement effective strategies to mitigate risk and control losses. Support the team in general loss mitigation activities.
- Maintain accurate account records in accordance with policies and procedures.
- Handle member escalations related to loss mitigation received from other departments and members of the Financial Assistance team.
- Possess an advanced knowledge of all loss mitigation policies and procedures.
- Must have a comprehensive understanding of all portfolios including consumer, secured real estate, specialty, charge-off and recovery.
- Support ad-hoc projects and work cooperatively with other employees in all Credit Union departments to achieve common goals.
- Recommend changes to department procedures.
- Assist with training new and existing employees.
- All other duties as assigned by management.
- Ensure compliance with all regulatory requirements.
- Represent USALLIANCE in a professional and positive manner.
Who you are:
- Minimum 5 years of experience in asset management, loss mitigation, financial assistance and consumer and secured real estate credit and collections.
- Advanced analytical and critical thinking skills.
- Maintain key performance metrics at required levels.
- Advanced knowledge of all requirements for bankruptcy, repossessions, foreclosures, and loss mitigation options.
- Ability to work independently to meet deadlines with excellent follow through skills.
- Proficiency in relevant software and tools.
- Strong interpersonal and organizational skills.
- Excellent verbal and written communication skills.
What We Offer:
- Competitive salary and benefits package
- Opportunities for professional development and career growth
- Hybrid Schedule (min 3 days in office to maximize collaboration)
- A collaborative and inclusive work environment
- Paid Time Off, Wellness Time & Paid Federal holidays
- 401K with 6% match
- High Performance Culture
Become a part of a team where your ideas are valued, your growth is supported, and your work makes a difference. Apply today and take the next step in your career with USALLIANCE.
EQUAL OPPORTUNITY EMPLOYER
USALLIANCE Federal Credit Union, as an Equal Opportunity Employer, values and supports the diverse cultures, perspectives, skills, and experiences within our workforce.
This job description is for informational purposes only and should not be construed as a complete listing of the job responsibilities and requirements. This job description may be modified at any time, for any reason, at the sole discretion of management.
At this time, USAlliance Federal Credit Union will not sponsor a new applicant for employment authorization or offer any immigration related support for this position (i.e., H1B, F-1 OPT, F-1 STEM OPT, F-1 CPT, J-1, TN, or another type of work authorization).
If you need sponsorship now or in the future, look for this statement in the job description before you apply: “USAlliance Federal Credit Union will consider sponsoring a new, qualified applicant for employment authorization for this position”. If this is not listed in the job description, USAlliance Federal Credit Union will not provide sponsorship for the candidate to work in the United States.
In the spirit of pay transparency, we are excited to share the base salary range for this position is $26.78 - 33.48, exclusive of fringe benefits or potential incentives. This position is also eligible for an annual corporate bonus. If you are hired at USALLIANCE Federal Credit Union, your final base salary compensation will be determined based on factors such as skills, education, and/or experience. In addition to those factors, we believe in the importance of pay equity and consider the internal equity of our current team members as a part is any final offer. Please keep in mind that the range mentioned above is the full base salary for the role. Hiring at the maximum of the range would not be typical to allow for future and continued salary growth. We also offer a generous compensation and benefits package.
All positions must adhere to standard BSA/AML policies, procedures, and processes. Employees must demonstrate awareness of business functions and how business decisions affect financial and/or non-financial work results.
Salary : $27 - $33
