Mortgage Loss Mitigation & Risk Advisor

ACCA Careers; Chicago (IL); On-site; USD 74,000 - 126,000; Full time

Benefits offered by this job

401(k) and pension

Medical, dental, vision, spending A/C

Paid time off

Parental and caregiver leave

Life & accident insurance

Discretionary bonus program (equity)

Job summary

Northern Trust is seeking a qualified risk management/compliance professional in the United States to support mortgage loss mitigation, policy interpretation, and regulatory adherence. The role involves collaboration with borrowers, attorneys, and regulators to ensure compliant processes and effective risk controls.

Ideal candidates will have extensive experience with residential mortgages, loss mitigation, and foreclosure/bankruptcy, plus strong analytical and communication skills to advise

Qualifications

• Knowledge of risk management and strategic goals for the bank's business.
• Strong knowledge of mortgage regulations, federal, state, and local laws and regulations that impact key activities.
• Working knowledge of loan systems, operations, and researching payments.
• Communication and analytical skills are necessary to consult with partners/clients and analyze information and to develop compliant policies and procedures.
• 7 or more years of risk management or compliance experience. Experience with residential mortgages, loss mitigation, and/or foreclosure/bankruptcy.

Responsibilities

• Reviews, disseminates, and interprets policies and procedures for mortgage related products.
• Documents related policies, procedures, and standards within the parameters of applicable laws/regulations.
• Verifies activities meet federal, state and local regulatory requirements and monitors risk levels.
• Communicates with distressed borrowers working through assistance requests or foreclosure.
• Coordinates with involved attorneys and provides risk mitigation guidance to management.
• Reviews Borrower Response Packages for assistance to determine completeness and next steps.
• Prepares internal reporting related to mortgage loss mitigation.
• Assists in preparation of risk ratings and accrual recommendations.
• Consults with partners regarding daily decisions that could pose risk and assist with client negotiations.
• Identifies high-risk situations and guides policy development to balance risk and reward.
• Interacts with regulators, auditors on regulatory topics as needed.

Skills

Risk management

Compliance

Mortgage regulations knowledge

Analytical skills

Job description

Northern Trust is seeking a qualified risk management/compliance professional in the United States to support mortgage loss mitigation, policy interpretation, and regulatory adherence. The role involves collaboration with borrowers, attorneys, and regulators to ensure compliant processes and effective risk controls.

Ideal candidates will have extensive experience with residential mortgages, loss mitigation, and foreclosure/bankruptcy, plus strong analytical and communication skills to advise