Collections and Loss Mitigation - Loss Mitigation Specialist

Job Title: Loss Mitigation Specialist
Status: Non-exempt
Reports to: Supervisor - Loss Mitigation
Department: Collections and Loss Mitigation
Job Code: 1724
Pay Range: $24.50 - $28.00 Hourly
Location: Hybrid in Sacramento, CA

WHO WE ARE:
Golden 1 Credit Union is among the top credit unions in the country. As a member-owned, not-for-profit cooperative, Golden 1 is guided by the credit union philosophy of “people helping people.” We are committed to empowering our members and uplifting our communities as we create a more equitable and financially inclusive California. We welcome all who embrace our Core Values.

WHO YOU ARE:
You are someone who enjoys bringing clarity and direction to complex situations. You combine empathy, financial analysis, and problem-solving skills to help members overcome financial challenges while reducing risk and preserving long-term relationships.

WHAT YOU'LL DO:

• Communicate with members to determine the reason for default and request additional pertinent information as needed.
• Analyze member financial documentation to determine the most effective workout option.
• Maintain a thorough understanding of state and federal laws and regulations related to credit union compliance, including bank secrecy act/anti-money laundering laws appropriate to the position.
• Coordinate payment arrangements with members and follow up in a timely manner on such arrangements, properly documenting accounts as contact with each member is made.
• Promote loan workout solutions to support Golden 1’s membership and contribute to a reduction of overall delinquencies by negotiating solutions that are mutually beneficial to the client and Company.
• Prepare necessary analysis and documentation to complete loan modification agreements, repayment plans, forbearance plans, and other workout options. Identify and submit qualifying workout cases to manager for approval.
• Collaborate with others as appropriate to assist with the efficient, effective, and timely completion of Member Care projects.
• Possess a high level of knowledge in all Member Care Department specialty areas such as negative shares, repossessions, suits, foreclosures, and bankruptcies.
• Ability to thoroughly review and document account summaries on all actions taken, such as telephone conversations, alternative financial arrangements, and letters mailed to assess the need for escalated Member Care efforts.
• Maintain positive relations with all members, credit union departments, and branches discussing sensitive personal financial circumstances in a tactful manner.
• Update relevant systems with member communication, notes, and action items.
• Process and update workout tracking reports on a daily basis.
• Process vendor invoices.
• Assist manager and/or supervisor with other duties as assigned.

QUALIFICIATIONS AND PREFERENCES:

• Associate’s Degree in related field or equivalent work experience required
• 3+ years in default management or loss mitigation or related field (i.e., underwriting, credit etc.) with banks, savings and loans, credit unions or other finance companies required

WHY JOIN US:
Golden 1 Credit Union provides its employees a market-competitive and internally equitable total rewards compensation package through a variety of programs. These programs are designed to attract, motivate, and retain employees that drive and support the achievement of Our Mission, Vision, and Strategic Goals. The Credit Union is committed a total rewards philosophy built on; a comprehensive compensation package, well-being and work-life balance, career development and growth, rewards and recognition, and a commitment to Diversity, Equity and Inclusion. We believe in fostering a workplace where every employee is recognized, valued, and motivated to contribute their best.

Please view the full job description detailing the complete list of duties and expectations for this role by clicking or copying this URL into your browser: https://golden1.jdxpert.com/ShowJob.aspx?EntityID=2&id=2544

DISCLAIMER/INTENT AND FUNCTION OF JOB DESCRIPTIONS:
The above information on this description has been designed to indicate the general nature and level of work performed by team members within this classification. Because the nature of positions and job functions can change over time, this job description is not designed to contain or be interpreted as a comprehensive inventory of all essential functions, duties, responsibilities and qualifications requirements of team members assigned to this job. Job duties may be changed or modified in the Credit Union’s discretion. The Credit Union will keep team members updated on key functions, duties, and requirements of their position by communications from the Credit Union and by updating the job description from time to time. Any team member with questions about the nature of their job duties is encouraged to consult with their supervisor.