GHS Federal Credit Union
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Description Manages a portfolio of delinquent and at‑risk loans, including mortgage, consumer, business loans, and overdrawn deposit accounts, to minimize loss and maximize recovery.
Essential Functions and Responsibilities
Conduct thorough account reviews to assess the root cause of delinquency, recommend & process appropriate mitigation strategies (e.g., payment plans, extensions, loan modifications, or charge‑offs).
Provide financial counseling to members when needed.
Communicate with members via phone, email, and written correspondence to resolve past‑due accounts, provide financial counseling, and develop mutually beneficial solutions.
Utilize system tools and reports to monitor and document account status, ensuring timely and consistent follow‑up on assigned accounts.
Partner with third‑party vendors to track and enforce force‑placed insurance, and file appropriate life/disability claims when applicable.
Recommend accounts for charge‑off when collection efforts have been exhausted and provide documentation supporting the recommendation.
Monitor charged‑off accounts and assist with ongoing collection efforts in collaboration with agencies such as CU Recovery.
Process/assist in loan payments and ensure they are correctly posted and documented.
Track and prepare detailed monthly reports including charge‑offs, repossessions, bankruptcies, property tax and insurance compliance.
Identify and communicate systemic loan risks or underwriting issues based on collection activity trends.
Attend Credit Committee meetings as needed to present recommendations or provide status updates on high‑risk accounts.
Maintain detailed, professional, and accurate notes in the member account systems.
Performance Expectations
Achieve individual and team loss mitigation goals aligned with credit union risk management strategy.
Maintain compliance with internal policies and regulatory requirements including Bank Secrecy Act, OFAC, and Fair Debt Collection Practices.
Maintain confidentiality of member and organizational information.Respond to broken promises to pay within 24 hours and update follow‑up actions accordingly.
Demonstrate independence and efficiency in work, managing priorities and account workload effectively.
Maintain professionalism in all member and staff interactions.
Ensure all communication and documentation meets compliance and audit standards.
Requirements Qualifications
Minimum of 2 years in collections, loss mitigation, loan servicing, or a similar financial risk/recovery role.
Knowledge of NYS bankruptcy, foreclosure laws, and repossession processes is preferred.
Education
High school diploma or GED required.
Associate degree in business, finance, or related field preferred.
Skills and Abilities
Strong communication skills with the ability to handle sensitive conversations with empathy and professionalism.
Proficiency in Microsoft Office Suite, collection platforms, and online research tools (including skip tracing).
Ability to analyze financial situations and create tailored solutions for members.
Excellent organizational and time management skills with attention to detail.
Ability to write clear business correspondence and maintain accurate records.
Physical Requirements
Primarily office‑based, involving standard physical activity such as sitting, standing, typing, and using the telephone.
Periodic lifting of materials up to 20 lbs.
Requires focus and attention to detail for close vision and data entry.
Employees must contribute to a positive work environment aligned with the credit union’s values of respect, trust, and integrity.
Seniority Level Entry level
Employment Type Full‑time
Job Function Finance and Sales
Industries Banking
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Description Manages a portfolio of delinquent and at‑risk loans, including mortgage, consumer, business loans, and overdrawn deposit accounts, to minimize loss and maximize recovery.
Essential Functions and Responsibilities
Conduct thorough account reviews to assess the root cause of delinquency, recommend & process appropriate mitigation strategies (e.g., payment plans, extensions, loan modifications, or charge‑offs).
Provide financial counseling to members when needed.
Communicate with members via phone, email, and written correspondence to resolve past‑due accounts, provide financial counseling, and develop mutually beneficial solutions.
Utilize system tools and reports to monitor and document account status, ensuring timely and consistent follow‑up on assigned accounts.
Partner with third‑party vendors to track and enforce force‑placed insurance, and file appropriate life/disability claims when applicable.
Recommend accounts for charge‑off when collection efforts have been exhausted and provide documentation supporting the recommendation.
Monitor charged‑off accounts and assist with ongoing collection efforts in collaboration with agencies such as CU Recovery.
Process/assist in loan payments and ensure they are correctly posted and documented.
Track and prepare detailed monthly reports including charge‑offs, repossessions, bankruptcies, property tax and insurance compliance.
Identify and communicate systemic loan risks or underwriting issues based on collection activity trends.
Attend Credit Committee meetings as needed to present recommendations or provide status updates on high‑risk accounts.
Maintain detailed, professional, and accurate notes in the member account systems.
Performance Expectations
Achieve individual and team loss mitigation goals aligned with credit union risk management strategy.
Maintain compliance with internal policies and regulatory requirements including Bank Secrecy Act, OFAC, and Fair Debt Collection Practices.
Maintain confidentiality of member and organizational information.Respond to broken promises to pay within 24 hours and update follow‑up actions accordingly.
Demonstrate independence and efficiency in work, managing priorities and account workload effectively.
Maintain professionalism in all member and staff interactions.
Ensure all communication and documentation meets compliance and audit standards.
Requirements Qualifications
Minimum of 2 years in collections, loss mitigation, loan servicing, or a similar financial risk/recovery role.
Knowledge of NYS bankruptcy, foreclosure laws, and repossession processes is preferred.
Education
High school diploma or GED required.
Associate degree in business, finance, or related field preferred.
Skills and Abilities
Strong communication skills with the ability to handle sensitive conversations with empathy and professionalism.
Proficiency in Microsoft Office Suite, collection platforms, and online research tools (including skip tracing).
Ability to analyze financial situations and create tailored solutions for members.
Excellent organizational and time management skills with attention to detail.
Ability to write clear business correspondence and maintain accurate records.
Physical Requirements
Primarily office‑based, involving standard physical activity such as sitting, standing, typing, and using the telephone.
Periodic lifting of materials up to 20 lbs.
Requires focus and attention to detail for close vision and data entry.
Employees must contribute to a positive work environment aligned with the credit union’s values of respect, trust, and integrity.
Seniority Level Entry level
Employment Type Full‑time
Job Function Finance and Sales
Industries Banking
Referrals increase your chances of interviewing at GHS Federal Credit Union by 2x.
Get notified about new Loss Mitigation Specialist jobs in Binghamton, NY.
We’re unlocking community knowledge in a new way. Experts add insights directly into each article, started with the help of AI.
#J-18808-Ljbffr