Collections and Loss Mitigation - Loss Mitigation Specialist

Golden 1 Credit Union; Sacramento (CA); Hybride; USD 34 000 - 39 000; Plein temps

Résumé du poste

Golden 1 Credit Union seeks a Loss Mitigation Specialist to assess delinquent accounts and craft workout options. You will communicate with members, review financials, and coordinate payment arrangements while ensuring compliance with applicable laws.

Role emphasizes collaboration across the Collections and Loss Mitigation department and meticulous documentation of all actions. The ideal candidate has an Associate’s Degree and 3+ years in default management or loss mitigation, with strong

Qualifications

• 3+ years in default management or loss mitigation or related field (i.e., underwriting, credit) with banks, savings and loans, credit unions or other finance companies required.

Responsabilités

• Communicate with members to determine the reason for default and request additional pertinent information as needed.
• Analyze member financial documentation to determine the most effective workout option.
• Coordinate payment arrangements with members and follow up on such arrangements, properly documenting accounts.
• Promote loan workout solutions to reduce delinquencies while keeping mutual benefit for client and Company.
• Prepare analyses and documentation to complete loan modification, repayment, forbearance and other workout options.

Connaissances

Experience in default management

Formation

Associate’s Degree in related field

Description du poste

Job Title: Loss Mitigation Specialist

Status: Non-exempt

Reports to: Supervisor - Loss Mitigation

Department: Collections and Loss Mitigation

Job Code: 1724

Pay Range: $24.50 - $28.00 Hourly

Location: Hybrid in Sacramento, CA

Who We Are

Golden 1 Credit Union is among the top credit unions in the country. As a member-owned, not-for-profit cooperative, Golden 1 is guided by the credit union philosophy of “people helping people.” We are committed to empowering our members and uplifting our communities as we create a more equitable and financially inclusive California. We welcome all who embrace our Core Values.

Who You Are

You are someone who enjoys bringing clarity and direction to complex situations. You combine empathy, financial analysis, and problem-solving skills to help members overcome financial challenges while reducing risk and preserving long-term relationships.

What You'll Do

• Communicate with members to determine the reason for default and request additional pertinent information as needed.
• Analyze member financial documentation to determine the most effective workout option.
• Maintain a thorough understanding of state and federal laws and regulations related to credit union compliance, including bank secrecy act/anti-money laundering laws appropriate to the position.
• Coordinate payment arrangements with members and follow up in a timely manner on such arrangements, properly documenting accounts as contact with each member is made.
• Promote loan workout solutions to support Golden 1’s membership and contribute to a reduction of overall delinquencies by negotiating solutions that are mutually beneficial to the client and Company.
• Prepare necessary analysis and documentation to complete loan modification agreements, repayment plans, forbearance plans, and other workout options. Identify and submit qualifying workout cases to manager for approval.
• Collaborate with others as appropriate to assist with the efficient, effective, and timely completion of Member Care projects.
• Possess a high level of knowledge in all Member Care Department specialty areas such as negative shares, repossessions, suits, foreclosures, and bankruptcies.
• Ability to thoroughly review and document account summaries on all actions taken, such as telephone conversations, alternative financial arrangements, and letters mailed to assess the need for escalated Member Care efforts.
• Maintain positive relations with all members, credit union departments, and branches discussing sensitive personal financial circumstances in a tactful manner.
• Update relevant systems with member communication, notes, and action items.
• Process and update workout tracking reports on a daily basis.
• Process vendor invoices.
• Assist manager and/or supervisor with other duties as assigned.

Qualifications And Preferences

• Associate’s Degree in related field or equivalent work experience required
• 3+ years in default management or loss mitigation or related field (i.e., underwriting, credit etc.) with banks, savings and loans, credit unions or other finance companies required

Why Join Us

Golden 1 Credit Union provides its employees a market-competitive and internally equitable total rewards compensation package through a variety of programs. These programs are designed to attract, motivate, and retain employees that drive and support the achievement of Our Mission, Vision, and Strategic Goals. The Credit Union is committed a total rewards philosophy built on; a comprehensive compensation package, well-being and work-life balance, career development and growth, rewards and recognition, and a commitment to Diversity, Equity and Inclusion. We believe in fostering a workplace where every employee is recognized, valued, and motivated to contribute their best.

Disclaimer/Intent And Function Of Job Descriptions

The above information on this description has been designed to indicate the general nature and level of work performed by team members within this classification. Because the nature of positions and job functions can change over time, this job description is not designed to contain or be interpreted as a comprehensive inventory of all essential functions, duties, responsibilities and qualifications requirements of team members assigned to this job. Job duties may be changed or modified in the Credit Union’s discretion. The Credit Union will keep team members updated on key functions, duties, and requirements of their position by communications from the Credit Union and by updating the job description from time to time. Any team member with questions about the nature of their job duties is encouraged to consult with their supervisor.