Loss Mitigation Specialist

Description

Welcome to Lafayette Federal Credit Union Careers! Our organization is growing, and we are seeking top-notch individuals to provide support to our members. Our employees are a critical component in in our endeavor to be the premier financial partner for every one of our members. 

• Do you have experience with the maintenance of severely delinquent accounts?
• Do you have experience reviewing the members overall financial condition and compensating factors?

If so, then Lafayette Federal may have the perfect opportunity for you! We are currently seeking a Loss Mitigation Specialist to join our dynamic team! 

About us:

Our Difference: What makes Lafayette Federal cutting-edge? Lafayette Federal Credit Union is not only a great place to bank, but also a great place to work! We have been recognized nationally by (1) Newsweek’s America’s Best Bank’s list, (2) we’ve received a 5-star rating from Bauer financial, and (3) we’ve also ranked #12 in S&P Global’ s Top Performing Credit Union’s in 2022 for the second year in a row!

Our Culture: Lafayette Federal is about inclusion, diversity, high performance, and new opportunities. Teamwork and our sense of community also make Lafayette Federal a great place to work. Each person is valued for his or her unique set of skills. We share a common devotion to the people we serve, participating in charity events throughout each year and giving back to the community. 

Our Opportunities: Professional development, training, and certification is a priority for our employees. We want you to reach your career goals and provide support that leads to opportunities of advancement within the industry.

About the role:

We are seeking a smart, organized, and resourceful professional to assist the Asset Recovery department with the overall maintenance of severely delinquent accounts to include reviewing and recommending loans for extension and/or workouts. In addition, this position is responsible for reviewing the members overall financial condition and compensating factors as well as serve as a back up to the Mortgage, Bankruptcy and Charge Off Specialists.

Requirements

 A day in the life of a Loss Mitigation Specialist will include:

• Responsible for reviewing and preparing all files for the Loss Mitigation Committee. This process includes an in-depth analysis of the Member’s relationship with the credit union and the financial risk with all parties involved.
• Responsible for monitoring all accounts under an approved modification or workout to ensure the borrower is complying with agreed upon action steps.
• Review all third-party debt management cases.
• Responsible for all follow up calls and memos with respect to financial needs cases.
• Ensures quality control by reviewing such items as vendor invoices, recovery, SCRA and EOscar reports.
• Serves as a back up to the Bankruptcy Specialist by maintaining bankrupt accounts.

Our ideal candidate will:

• Provide all members with professional support, accurate information, and friendly service.
• Ensure all data entry for loans are made with minimal, non-recurring errors.
• Adhere to Lafayette Federal’s Service Standards Policy.
• Maintain confidentiality at all times.
• Maintain a dependable record of attendance and timeliness.
• Ensure that consumer and mortgage collection queues are followed.

Top benefits or perks:

Joining Lafayette Federal comes with perks to support you in your personal and professional journey.

We provide employees with a generous benefits package including:

• Employer paid (99.9%) health insurance premium for single and family coverage (HMO Plan) 
• Fully funded deductible (HMO Plan)
• 401k employer matching contribution 
• Income protection with life insurance, short and long-term disability
• Paid time off & holiday leave
• Educational assistance
• Commuter benefits program and more! 

The job posting highlights the most critical responsibilities and requirements of the job. It is not all-inclusive. There may be additional duties, responsibilities, and qualifications for this job.

*Lafayette Federal Credit Union is an Equal Opportunity and E-Verify Employer

*EOE/AA/DISABILITY/VETERAN