Loss Mitigation Specialist

About the role

This role involves administering a portfolio of performing and non-performing loans, developing and recommending strategies to maximize recovery and reduce losses, and ensuring effective restructuring, recovery, or charge-off of adversely graded loans. It also includes engaging in activities to preserve loan principal, collect interest, or charge-off the loan if appropriate.

Responsibilities

• Administers a portfolio of performing and non-performing loans
• Develops and recommends strategies to maximize recovery and reduce losses
• Ensures effective restructuring, recovery, or charge-off of adversely graded loans
• Works with officials of lending and borrowing institutions to better secure collateral, equity, or other assets of the borrower
• Engages in other activities designed to preserve the loan principal, collect interest as possible, or charge-off the loan if appropriate

Requirements

The successful candidate will have a bachelor's degree or equivalent work experience, along with one to three years of experience in lending/account management activities. Good working knowledge of credit legal principles, accounting, economics, and financial statement analysis is preferred. Some knowledge of lending interest rates, loan terms and conditions, and real estate methodologies is also required. Good negotiation skills and well-developed customer service/relations skills are necessary, as are effective interpersonal, verbal, and written communication skills.

Qualifications

Bachelor's degree, or equivalent work experience

Skills

Good working knowledge of credit legal principles, accounting, economics, and financial statement analysis

Some knowledge of lending interest rates, loan terms and conditions, and real estate methodologies

Good negotiation skills

Well-developed customer service/relations skills

Effective interpersonal, verbal, and written communication skills

Benefits

Healthcare (medical, dental, vision)

Basic term and optional term life insurance

Short-term and long-term disability

Pregnancy disability and parental leave

401(k) and employer-funded retirement plan

Paid vacation (from two to five weeks depending on salary grade and tenure)

Up to 11 paid holiday opportunities

Sick and Safe Leave accruals of one hour for every 30 worked, up to 80 hours per calendar year unless otherwise provided by law