Loss Mitigation Consultant

About Northern Trust

As a global leader in innovative wealth management, asset servicing, asset management and banking services, Northern Trust (Nasdaq: NTRS) guides the world’s most successful individuals, families, corporations and institutions. Since 1889, we have aligned our efforts with our three guiding Principles That Endure: Service, Expertise, and Integrity. With more than 135 years of financial experience and over 24,000 partners, we serve sophisticated clients using leading technology and exceptional service.

Responsibilities

• Reviews, disseminates, and interprets policies and procedures for mortgage related products.
• Proactively establishes and documents related policies, procedures, and standards within the parameters of relevant laws and regulations.
• Verifies that activities meet federal, state, and/or local legal and regulatory requirements and monitors outcomes/risk levels for the organization or assigned area.
• Communicates with distressed borrowers working through assistance requests or foreclosure process.
• Coordinates with involved attorneys.
• Provides risk mitigation advice and requirements to managers and appropriate personnel.
• Reviews Borrower Response Packages for assistance to determine completeness and assess next steps.
• Prepares internal reporting associated with mortgage loss mitigation.
• Assists in preparation of risk rating and accrual recommendations.
• Consults with partners regarding daily decisions that could pose risk and conflict with existing policy, and assists with client negotiations on issues presenting risk elements.
• Identifies situations posing significant risk and guides management in developing policies/procedures balancing risk and reward.
• Interacts with regulators, internal and external auditors on regulatory topics as needed.

Requirements

• Knowledge of risk management and strategic goals for the bank’s business.
• Strong knowledge of mortgage regulations, federal, state, and local laws impacting key activities.
• Working knowledge of loan systems, operations, and researching payments.
• Strong communication and analytical skills to consult with partners/clients, analyze information, and 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.

Pay

Salary range is $74,200 - 126,200 USD. This is a good faith estimate of base pay. Northern Trust provides a discretionary bonus program that may include an equity component.

Benefits

• Comprehensive benefits package including retirement benefits (401k and pension).
• Health and welfare benefits (medical, dental, vision, spending accounts, and disability).
• Paid time off, parental and caregiver leave.
• Life and accident insurance.
• Other voluntary and well-being benefits.

Work Authorization

Applicants must be authorized to work in the U.S. without the need for employment-based visa sponsorship now or in the future. Northern Trust will not sponsor applicants for U.S. work visa status for this opportunity.

Working with Us

As a Northern Trust partner, you will be part of a flexible and collaborative work culture with a strong history of financial strength and stability. Movement within the organization is encouraged, senior leaders are accessible, and you can take pride in working for a company committed to an inclusive workplace and assisting the communities we serve. Philanthropy is deeply rooted in Northern Trust’s history and is an essential element of our culture, with employees giving their time and talent to work for the greater good of their communities.

Reasonable Accommodation

Northern Trust is committed to working with and providing adjustments to individuals with health conditions and disabilities. If you need a reasonable accommodation for any part of the employment process, please email our HR Service Center at MyHRHelp@ntrs.com or discuss your requirements with the recruiter you are working with.