Loss Mitigation Specialist

Employer
Northwest FCU
Location
Herndon, VA
Posted
Jun 19, 2017
Closes
Jul 03, 2017
Function
Accountant, IT
Hours
Full Time
Requisition Number 17-0083 Post Date 6/6/2017 Title Loss Mitigation Specialist City Herndon State VA Description The primary role of this position is to assist Northwest Federal Credit Union to live out our vision to be the lifetime financial partner for our member-owners. One of the primary means to achieve this end is to develop a highly effective team of employees and develop each employee to their highest potential through coaching and leadership. This position is responsible for ensuring that outstanding service is delivered to both internal and external members. A key component of this service to external members is to ensure each employee identifies members' financial needs and suggests appropriate Credit Union solutions.Responsible for collection efforts on charged-off debts. Analyzes loan documents and credit reports that have been declared losses in order to achieve financial solutions beneficial to the credit union.DUTIES AND RESPONSIBILITIESMust include the following and you may include any additional:- Deliver outstanding service that delivers on our Service Promises.- Meet or exceed the service goals for the position.- Knowledge of the Credit Union's products and services.- Complete BVS classes as assigned.- Maintain department policy and procedure documentation accordingly.- Remains cognizant of and adheres to NWFCU policies and procedures, and regulations pertaining to the Bank Secrecy Act (BSA).* Responsible for collection efforts on charged-off debts. Analyzes loan documents and credit reports that have been declared losses in order to achieve financial solutions beneficial to the credit union.* Reviews and analyzes loans deemed a loss by the credit union Board of Directors. Prepares the necessary paperwork to forward accounts to outside collection sources. Prepares documents that involve Agency-unique issues.* Represents the Credit Union in General District Court. Files all documents to proceed with Legal action (Warrant in Debt) Locates assets and files documents with the court to garnishment assets.* Maintains credit union charge-off system. Posts all payments made to the credit union to charged-off debts. These payments may come directly from the members or from collection agencies, attorneys, trustees and/or the Agency.* Codes all data on loan losses in the computer system and receives payments on such accounts. Maintains "Allowance for Loan Loss" Ledgers.* Updates credit reports regarding charged-off debts.* Appears in court as required, as Credit Union representative, to testify to validity of documents and account history.* Balances all General Ledger Accounts regarding charge offs.* Remains cognizant of and adheres to NWFCU policies and procedures, and regulations pertaining to the Bank Secrecy Act (BSA). Requirements ABILITY TO WORF FLEXIBLE HOURS:Work hours vary from 8:00am - 4:30pm, 8:30am - 5:00pm, 10:30am -7:00pm and Saturday 9:00am -1:00pm.QUALIFICATIONSTo perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed below are representative of the knowledge, skill, and/or ability required. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.Must maintain a valid driver's license with a good driving record. Must be able to travel locally for court appearances.EDUCATION/EXPERIENCEHigh School diploma and 3-4 years of experience in a commercial financial services setting. Experience applying collection policies, procedures and laws relating to Collection and Credit Bureau activities. Experience researching and using internal and external financial information sources. Must have knowledge of court procedure for pursing Legal Action. Must have a comprehensive knowledge of NWFCU collection policies and procedures. Must be familiar with the laws relating to Collection and Credit Bureau procedures. Must be knowledgeable of bankruptcy laws and have financial counseling courses. Must have a working knowledge of the Credit Union. Should have a general knowledge of information sources, both Credit Union and external.SKILLSMust be proficient in: Windows, Microsoft Office and the Internet such as; Internet Explorer and searching websites for skip-tracing, credit dispute resolution. Must be proficient in Akcelerant, Black Book and CarFax. Must be able to operate a fax machine, copier and scanner.LANGUAGE SKILLSLanguage skills require the ability to interpret all requests using effective interpersonal, verbal and written communication skills.Ability to read and interpret the law regarding the collection of accounts and procedure manuals. Ability to write routine correspondence. Ability to speak effectively to coworkers, members, attorneys and collection agencies.Must be able to read and analyze all loan documents.MATHEMATICAL SKILLSMathematical skills include the ability to add, subtract, multiply, and divide and effectively use a 10 key calculator.Requires the use of the four forms of basic arithmetic.REASONING ABILITYAbility to apply common sense understanding to carry out instructions furnished in written, oral, or diagram form.Must have the ability to apply common sense understanding of the delinquency and to help manage finances/budget.WORK ENVIRONMENTAbility to function in a financial institution and/or branch environment and utilize standard office equipment, including but not limited to PC, fax, copier, telephone, etc.Typical office space provided where noise is moderate.SPECIAL REQUIREMENTSIf selected for an interview and offered a position, your offer will be contingent upon your submitting to and successfully completing a drug test and criminal background check within a reasonable timeframe and prior to employment.All positions require US citizenship and a Federal Government Security Clearance. Those with an active security clearance are encouraged to apply; NWFCU will sponsor the clearance process for qualified applicants. Further, all applicants must pass bondability requirements and will be subject to a credit history check in order to determine eligibility for employment with NWFCU.Necessary accommodations will be made to enable individuals with disabilities to perform the essential functions of this position.Remains cognizant of and adheres to NWFCU policies and procedures, and regulations pertaining to the Bank Secrecy Act (BSA).Northwest Federal Credit Union is an equal opportunity/affirmative action employer. All qualified applicants will receive consideration for employment without regard to sex, gender identity, sexual orientation, race, color, religion, national origin, disability, protected veteran status, age, or any other characteristic protected by law.We are proud to be an EEO/AA employer Minorities/Females/Disabled/Veterans. Equal Opportunity Employer/Protected Veterans/Individuals with Disabilities.Please view Equal Employment Opportunity Posters provided by OFCCP here.The contractor will not discharge or in any other manner discriminate against employees or applicants because they have inquired about, discussed, or disclosed their own pay or the pay of another employee or applicant. However, employees who have access to the compensation information of other employees or applicants as a part of their essential job functions cannot disclose the pay of other employees or applicants to individuals who do not otherwise have access to compensation information, unless the disclosure is (a) in response to a formal complaint or charge, (b) in furtherance of an investigation, proceeding, hearing, or action, including an investigation conducted by the employer, or (c) consistent with the contractor's legal duty to furnish information. 41 CFR 60-1.35(c) Apply Online Send This Job to a Friend Careers Browse Open Jobs Search Open Jobs Edit Your Profile View Submitted Applications PRIVACY & INTERNET POLICY | FRAUD CENTER | CAREERS (C) 2014 Northwest Federal Credit Union. 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