Loss Mitigation Specialist II (US)

Bank Collection Specialist

Work Location : Portland, Maine, United States of America

Hours : 40

Pay Details : $24.00 - $33.50 USD

TD is committed to providing fair and equitable compensation opportunities to all colleagues. Growth opportunities and skill development are defining features of the colleague experience at TD. Our compensation policies and practices have been designed to allow colleagues to progress through the salary range over time as they progress in their role. The base pay actually offered may vary based upon the candidate's skills and experience, job-related knowledge, geographic location, and other specific business and organizational needs.

As a candidate, you are encouraged to ask compensation related questions and have an open dialogue with your recruiter who can provide you more specific details for this role.

Line of Business : Personal & Commercial Banking

Job Description : Depth & Scope :

• Areas assigned are more complex in size
• May meet with customers in person to discuss workout possibilities
• Works with customers or agents of customers to resolve delinquency and avoid default or adverse action
• Assists customers in processing insurance claims and requests for contractual rebates
• May initiate processing and resolution of bankruptcy, foreclosure and workout activities for assigned accounts, focusing on home-ownership counseling activities and negotiating workout solutions and ensuring prompt resolution of legal matters
• Coordinates with attorneys, trustees, debtors and others to research estates in bankruptcy, probate or workout in various states to minimize losses and maximize recoveries
• Coordinates subsequent asset sales and other collection and recovery activities to secure maximum payback for company owned property
• Reviews accounts for adherence to department policies as well as state and federal laws and regulations. Corrects any deficiencies with appropriate personnel prior to moving forward in process
• Completes necessary account documentation, involving inside and outside personnel as needed, and recommends accounts to be reviewed for foreclosure, repossession, charge off, and or litigation
• May initiate loss mitigation activities after approval of foreclosure. May coordinate auctions and other collection and recovery activities to secure maximum payback for company owned property
• Recommends negotiated settlements to maximize recovery and minimize losses. Attends property sales and assists in developing and executing bidding strategies
• Reviews loan files on bankrupt accounts to determine if fraud is involved. Takes appropriate action dealing with attorneys and trustees to challenge bankruptcy if appropriate
• Processes and collects insurance claims and refundable contract premiums including primary insurance, Gap insurance, service contracts, and other source of revenue available on assigned accounts
• Analyzes customers financial situation and recommends appropriate forbearance action
• Represents company at bankruptcy, probate and workout hearings

Education & Experience :

Physical Requirements :

Never : 0%; Occasional : 1-33%; Frequent : 34-66%; Continuous : 67-100%

The above statements are intended to describe the general nature and level of work being performed by people assigned to this job. They are not intended to be an exhaustive list of all responsibilities, duties and skills required. The listed or specified responsibilities & duties are considered essential functions for ADA purposes.

Who We Are : TD is one of the world's leading global financial institutions and is the fifth largest bank in North America by branches / stores. Every day, we deliver legendary customer experiences to over 27 million households and businesses in Canada, the United States and around the world. More than 95,000 TD colleagues bring their skills, talent, and creativity to the Bank, those we serve, and the economies we support. We are guided by our vision to Be the Better Bank and our purpose to enrich the lives of our customers, communities and colleagues.

TD is deeply committed to being a leader in customer experience, that is why we believe that all colleagues, no matter where they work, are customer facing. As we build our business and deliver on our strategy, we are innovating to enhance the customer experience and build capabilities to shape the future of banking. Whether you've got years of banking experience or are just starting your career in financial services, we can help you realize your potential. Through regular leadership and development conversations to mentorship and training programs, we're here to support you towards your goals. As an organization, we keep growing and so will you.

Our Total Rewards Package

Our Total Rewards package reflects the investments we make in our colleagues to help them and their families achieve their financial, physical and mental well-being goals. Total Rewards at TD includes base salary and variable compensation / incentive awards (e.g., eligibility for cash and / or equity incentive awards, generally through participation in an incentive plan) and several other key plans such as health and well-being benefits, savings and retirement programs, paid time off (including Vacation PTO, Flex PTO, and Holiday PTO), banking benefits and discounts, career development, and reward and recognition.

Additional Information :

We're delighted that you're considering building a career with TD. Through regular development conversations, training programs, and a competitive benefits plan, we're committed to providing the support our colleagues need to thrive both at work and at home.

Colleague Development

If you're interested in a specific career path or are looking to build certain skills, we want to help you succeed. You'll have regular career, development, and performance conversations with your manager, as well as access to an online learning platform and a variety of mentoring programs to help you unlock future opportunities. Whether you have a passion for helping customers and want to expand your experience, or you want to coach and inspire your colleagues, there are many different career paths within our organization at TD and we're committed to helping you identify opportunities that support your goals.

Training