Loss Mitigation Specialist II

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 USALLIANCE in the community and form lasting relationships with our members and partners.

About This Role:

Responsible to assist in the control, documentation, resolution and follow up of various delinquent consumer and mortgage loans, and post charge off accounts. 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:

• Manage the repossession and remarketing of collateral, ensuring the proper distribution of sales proceeds.
• Ordering and managing titles for repossession.
• Oversee the Credit Union’s bankruptcy portfolio, ensuring compliance with state and federal regulations, collaborate with external counsel when needed.
• Prepare and file Proofs of Claims, Reaffirmation Agreements, and other bankruptcy court documents.
• Prepare and manage the foreclosure process, collaborate with external counsel when needed and submit monthly reports for Fannie Mae, FHLB, etc.
• Gather and review supporting documentation for the evaluation of loan modification requests.
• Initiate preparation of accounts to be sent to litigation which includes compiling necessary documents.
• Review legal documents, including summons, complaints, affidavits, judgments, and summary judgments, for accuracy.
• Conduct asset searches for judgment execution purposes.
• Responsible for contacting members to determine the reason for past-due accounts or contacting accounts post charge-off.
• Assist Financial Assistance Team with incoming calls when needed.
• Document all work (i.e., phone calls, promises to pay, updates, requests in our system), the day the action occurs.
• Handle member escalations received from other departments and members of the Financial Assistance team.
• Prepare detailed reports on repossession, bankruptcy, foreclosure, modification and litigation activities monthly.
• Manage vendor relationships and conduct due diligence both initially and annually.
• Negotiate and establish payment plans with members as necessary.
• Perform additional duties as assigned.

Who You Are:

• Minimum 4 years’ experience with consumer credit and collections
• Maintain key performance metrics at required levels.
• Maintain delinquency and repossessions at prescribed levels.
• Ability to work independently to meet deadlines with excellent follow through skills.
• Excellent verbal and written communication skills.
• Strong negotiation skills.
• Advanced knowledge of knowledge of MS Excel, MS Word, MS Outlook, and other reporting systems.
• Knowledge and understanding of summons, complaints, affidavits, judgments, summary judgments, and other legal documents.
• Must possess a detailed understanding of bankruptcy, foreclosure and repossession laws.
• Ability to “think outside the box” and devise creative resolutions for settling accounts.

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.

It is unlawful for USAlliance to require or administer a lie detector test as a condition of employment or continued employment. In accordance with applicable state laws, an employer who violates this law shall be subject to criminal penalties and civil liability.

In the spirit of pay transparency, we are excited to share the base salary/hourly range for this position is $25.24 - $30.91 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.