Loss Mitigation Analyst
Company: GreenState Credit Union
Location: North Liberty
Posted on: November 24, 2022
GreenState Credit UnionLoss Mitigation AnalystUS-IA-North
LibertyJob ID: 2022-3279Type: Exempt Full-Time# of Openings:
1Category: Account ResolutionsGreenState Credit
UnionOverviewPOSITION SUMMARY:Single Point of Contact (SPOC) for
all written and verbal loss mitigation assistance requests. Manages
the application process to ensure completeness and accuracy as well
as gathering all supporting documents required. Responsible for all
notifications, letters, and correspondence with member as required
by state and regulatory guidelines and documents systems with
communication, analysis, and decisions. Underwrites retail loss
mitigation applications within authority limits or recommends to
VP/Account Resolution Manager or Risk Manager based on approval
authority and loan type. May also provide support on loss pipeline
accounts by analyzing factors causing individual accounts to be
delinquent and implementation of efforts to successfully resolve
these factors through interaction with the member and
recommendation of appropriate Loss Mitigation Product to minimize
financial loss to the credit union and restore member's financial
status in accordance with established credit union policy
guidelines, and state and federal regulations. GREENSTATE
CULTURE:At GreenState, we exist to create lasting value for those
we serve. We do this by putting immense value into our employees,
members and communities. We empower our employees to create endless
opportunities, which will then impact the lives of our members and
enhance the vitality of our communities. Minimum starting salary
for this position is $79,173.80 with a progressive benefit
package.ResponsibilitiesESSENTIAL DUTIES AND
RESPONSIBILITIES:Performs essential duties and responsibilities in
the following areas which may include, but are not limited to those
listed and are subject to change:
- Adheres to the Credit Union's core values and Service Standards
in carrying out GreenState's mission and vision.
- Demonstrates a positive member service (internal and external)
focus, greeting members and guests with a smile and eye contact
immediately upon their arrival, using their name or acknowledging
them, and thanking them for their business.
- Demonstrates teamwork in all interactions with coworkers and in
the completion of all duties and responsibilities.
- Ensures confidentiality of member information.
- Supports a diverse and inclusive work environment.
- Maintains contact with borrower to ensure they understand the
current status of their loan workout application, available
options, and next steps; remain the "single point of contact"
throughout the loss mitigation review process.
- Makes a diligent effort to obtain the necessary documents and
required information from the member when application is incomplete
and adheres to regulatory requirements for notices and
- Arranges for contractual services relating to property
inspections and appraisals.
- Coordinates evaluations on collateral securing retail loans
with the Asset Management Team
- Completes due diligence through title/lien searches ensuring
that no issues threaten the lien position of the credit union.
- Analyzes financial statements, tax returns, credit reports, and
the value of the collateral in order to determine and recommend the
most feasible and appropriate loss mitigation product for the
- Underwrites the borrower's income, through the review of
paystubs, tax documents, benefit statements, business profit and
loss statements, etc.
- Follows up with borrower to get loan modification agreements
signed and closed.
- Maintains appropriate records and documents the system of
record in order to preserve a history of actions taken,
communication, analysis, and decision.
- Possesses higher system permissions and approval authority for
all recommended deferments, modifications, TDR's, and workout
- Refers members to financial counseling resources when
- Plays a vital role in enriching the community by participating
in community service organizations and/or credit union sponsored
events, on an annual basis.
- Works cooperatively with VP/Account Resolution Supervisor and
Risk Manager on Loss Mitigation Reviews outside of delegated
- Performs any other duties as assigned.QualificationsJOB
- Minimum of three years collection experience, two of those
years in loss mitigation, in a financial institution with
reasonable knowledge of collection practices, consumer credit, real
estate and bankruptcy laws and regulations
- Two-year college degree or completion of a specialized course
of study, or completion of a specialized or extensive in-house
training or apprenticeship program.
- Reports to work punctually, works all scheduled hours, and
works overtime as necessitated by business demand. At times length
of working day can be unpredictable, must be willing and able to
work early and/or stay late with short notice.
- General knowledge of lien positions & perfections
- Demonstrated excellence in consulting and advising customers
via telephone and written communication.
- Ability and desire to interact with co-workers to develop
positive and effective working relationships in all areas of Credit
- Interpersonal and persuasive skills necessary to gather data
from several sources and to represent the Credit Union in a
positive way during periods of stressful member contact.
- Ability to work independently, prioritize assignments, organize
work efficiently, and make decisions independent of input from
- Ability to handle large volumes of details.
- Accuracy and attention to detail required.
- Excellent analytical skills
- Ability to operate related computer applications and office
- Must be registered pursuant to requirements of the S.A.F.E.
- Must be bondable.Reporting RelationshipThis position reports to
the Collateral Management Supervisor. Supervisory
ResponsibilitiesThis position is not responsible for the
supervision of other employees.Equal Opportunity Employment
StatementGreenState Credit Union is an Equal Opportunity Employer.
All qualified applicants will receive consideration for employment
without regard to race, color, religion, sex, sexual orientation,
gender identity, national origin, or protected veteran status and
will not be discriminated against on the basis of disability.
Keywords: GreenState Credit Union, Cedar Rapids , Loss Mitigation Analyst, Professions , North Liberty, Iowa
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