Loss Mitigation Specialist
$1,040,000–$1,040,000 year
On-siteRoy, Utah, United States
Job Summary
Manage collection activities for delinquent member accounts across credit cards, lines of credit, secured loans, and real estate, including Visa credit and debit cards. Review negative shares, overdrawn accounts, and fraud trends to determine probable reasons for account status and contact members to resolve delinquencies. Utilize collection tools, skip tracing, and pre-litigation recommendations to secure repayment or process charge-offs while maintaining professional relationships and legal compliance. Document all actions, coordinate with the Fraud Department, and ensure adherence to federal regulations such as the Service Member Civil Relief Act.
Required Qualifications
- High school graduate or equivalent
- Knowledge of Loss Mitigation procedures and related laws and regulations
- Understanding of Credit Union loan products and policies
- Familiar with default and enforcement clauses
- Familiar with deposit programs and understands account ownership
- Basic understanding of the U.S. Bankruptcy Code
- Understanding of Real Estate Collection
- Understanding of Garnishments/Levy
- Understanding of Consumer Collections
- Understanding of Credit Bureau
- Understanding of Pre-Litigation requirements
- Understanding of Small Claims Court system
- Previous collection experience with full-service financial institution
- Previous investigation experience
- Accuracy and thoroughness in work
- Excellent communication, telephone, and public relations skills
- Ability to work well independently
- Professional attitude and appearance
- Ability to work well in stressful situations
- Ability to operate related computer applications, and other business equipment including calculator, typewriter, copy machine, printer, telephone, fax
Desired Qualifications
- Previous collection experience with full-service financial institution helpful
- Previous investigation experience helpful
Hiring someone like this?
Get your role in front of qualified candidates on Sorce.