Loss Mitigation Spec II

Work Location :

Jacksonville, Florida, 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 :

The Loss Mitigation Specialist II performs a variety of activities related to reducing potential losses from problem accounts. Specializes in or leads the activities of one or more of the following areas : Loss Mitigation, Bankruptcy, Probate, and Workout.

The Loss Mitigation Specialist II is responsible for managing a high volume of manual account work across multiple banking products within the deceased customer process. This role requires a strong understanding of regulatory and compliance obligations, ensuring all actions align with internal policies and procedures. Specialists must navigate and reconcile information across numerous systems of record, demonstrating exceptional attention to detail and accuracy. The position demands consistency, organization, and a strong sense of ownership to safeguard the bank through precise and timely handling of sensitive deceased-related tasks

Depth & Scope :

Area (s) 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 :

2 year degree or equivalent experience

5+ years related experience required

Proven knowledge and experience in effective collection regulations, techniques and practices

Detailed knowledge of loan agreements and security agreements

Proven ability to understand and apply bankruptcy law, principles and practice related to real estate transactions

Knowledge of real estate investor and insurer guidelines

Knowledge of foreclosure procedures and legal and regulatory guidelines, including mobile homes and agency loans (VA, HUD and others)

Knowledge of legal regulations relating to real estate resale after foreclosure

Good communication skills, both verbal and written

PC skills

Bankruptcy, Probate and Workout

Detailed knowledge of bankruptcy law, including Chapters 13 and 7, probate and / or workout law

Knowledge of bankruptcy legal procedures, including Relief from Stay, property abandonment, Proofs of Claim, conversion of Chapter 13 to 7 and Chapter 13 repayment plans

Knowledge of workout techniques, including short selling and voluntary surrender

Knowledge of specific regulations in various states in which Company does business

Physical Requirements :

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

Domestic Travel - Occasional

International Travel - Never

Performing sedentary work - Continuous

Performing multiple tasks - Continuous

Operating standard office equipment - Continuous

Responding quickly to sounds - Occasional

Sitting - Continuous

Standing - Occasional

Walking - Occasional

Moving safely in confined spaces - Occasional

Lifting / Carrying (under 25 lbs.) - Occasional

Lifting / Carrying (over 25 lbs.) - Never

Squatting - Occasional

Bending - Occasional

Kneeling - Never

Crawling - Never

Climbing - Never

Reaching overhead - Never

Reaching forward - Occasional

Pushing - Never

Pulling - Never

Twisting - Never

Concentrating for long periods of time - Continuous

Applying common sense to deal with problems involving standardized situations - Continuous

Reading, writing and comprehending instructions - Continuous

Adding, subtracting, multiplying and dividing - Continuous

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. Learn more ()

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 & Onboarding

We will provide training and onboarding sessions to ensure that you've got everything you need to succeed in your new role.

Interview Process

We'll reach out to candidates of interest to schedule an interview. We do our best to communicate outcomes to all applicants by email or phone call.

Accommodation

TD Bank 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, age, disability, status as a protected veteran or any other characteristic protected under applicable federal, state, or local law.

If you are an applicant with a disability and need accommodations to complete the application process, please email TD Bank US Workplace Accommodations Program at USWAPTDO@td.com . Include your full name, best way to reach you and the accommodation needed to assist you with the applicant process.

Federal law prohibits job discrimination based on race, color, sex, sexual orientation, gender identity, national origin, religion, age, equal pay, disability and genetic information.