Loss Mitigation Specialist

Loss Mitigation Specialist

Greylock Federal Credit Union is committed to Inclusion, Diversity, Equity, and Accessibility to support a workforce that reflects our community. The Loss Mitigation Specialist provides advanced loss mitigation expertise by managing complex, high-risk delinquent accounts and overseeing foreclosure, repossession, and charge-off processes. This role serves as a subject matter expert, supporting organizational risk management, regulatory compliance, and strategic decision-making while providing guidance to loss mitigation staff.

Essential Functions & Responsibilities:

1. Manage late-stage and high-risk delinquent accounts, including foreclosure, repossession, and charge-off activities, ensuring full compliance with applicable laws and regulations.
2. Initiate, coordinate, and oversee foreclosure and repossession processes, maintaining accurate timelines, documentation, and system records.
3. Analyze complex borrower financial situations and approve or recommend non-standard loss mitigation solutions within delegated authority.
4. Prepare and manage advanced reporting, including delinquency trends, mortgage impairment, charge-offs, and recoveries, to support strategic and operational objectives.
5. Provide guidance, training, and technical expertise to loss mitigation staff on complex cases, regulatory requirements, and external assistance programs (e.g., RAFT).

Performance Measurements:

1. Effective management and resolution of complex and late-stage delinquent accounts
2. Compliance with foreclosure, repossession, and regulatory requirements
3. Accuracy and timeliness of advanced reports and data analysis
4. Quality and effectiveness of guidance provided to loss mitigation staff
5. Contribution to loss reduction and asset quality improvement initiatives
6. Upholds Greylock's cultural standards by fostering respect, inclusion, psychological safety, and collaboration in all interactions.

Knowledge and Skills:

• Experience: 35 years of progressive collections or loss mitigation experience required
• Education: High school diploma or equivalent required; Associate or Bachelor's degree preferred
• Interpersonal Skills: Strong analytical, decision-making, and advisory communication skills
• Technical/Other Skills: Advanced proficiency in Microsoft Office, collections systems, and reporting tools

Physical Requirements:

Ability to sit for extended periods, analyze data, and communicate effectively in written and verbal formats. May be required to work occasional overtime or Saturdays based on processing volume.

Work Environment:

Office-based or hybrid setting environment with regular member contact.

Salary Range: The salary range for this role is (min) $22.11 to (mid) $28.74 per hr. This is the salary range we in good faith believe we would pay for this role at the time of this posting. We may pay more than the posted range for exceptionally qualified individuals. An employee's pay position within the pay band will be based on several factors including, but not limited to, relevant education, qualifications, certifications, experience (job and life), skills (specific and transferable), seniority, performance, and business organizational needs. This range may also be modified in the future.

Sign on Bonus $1,500

Benefits that work: Greylock offers competitive benefits and a range of opportunities to grow your career. Choose from two comprehensive medical plan options, along with FSA Medical/Dependent Care, HSA/HRA, dental, vision, and wellness benefits. Additionally, our generous benefits package includes 401k plans with employer match and employer pension contributions, PTO, employee incentive plans, and an opportunity for profit sharing. Greylock offers employer paid life insurance along with both short- and long-term disability. Per an individual's need, additional life, accident, critical illness benefits, and pet insurance, may also be elected.