Loss Mitigation Assistant

Northwest Federal Credit Union Herndon, VA
ABOUT THIS ROLE:

The Loss Mitigation Assistant acts as the support person to the Loss Mitigation department. This position makes recommendations for loan extension or workouts, including thorough documentation of delinquent member's financial condition and compensating factors. The position monitors account activity to verify borrower's compliance with agreed upon action steps. The Loss Mitigation Assistant maintains records, looks for new/unusual ways to accommodate member's needs; constantly thinking outside the box.

DUTIES & RESPONSIBILITIES:

* Maintain department policy and procedure documentation accordingly

* Makes recommendations for loan extension or workouts, including thorough documentation of delinquent member's financial condition and compensating factors

* Monitors account activity to verify borrower's compliance with agreed upon action steps. The position maintains records on borrower, co‑borrower and co‑maker ability to make loan repayment. Look for new/unusual ways to accommodate member's needs. "Think outside the box"

* Reviews and prepares files for the Financial Needs Committee to ensure all required documentation is received. Follow-up on calls, record notes, update records, take appropriate action and make additional calls if necessary

* Handles credit dispute responses via E-Oscar

* Proactively seek and apply new/revised procedures to enhance member service

* Ensures quality control with the Collections Department to be in compliance with NWFCU's policies and procedures as well as State and Federal laws and regulations

* Communicates with the Loss Mitigation Team Lead, BSA Compliance Officer for clarification of new or unique situations confronted in Collections

* Ensures compliance in all legal and regulatory responsibilities including but not limited to accuracy in credit bureau reporting and SCRA

* Adhere to Bank Secrecy Act (BSA) regulations and all related Credit Union policies and procedures

* Performs other related duties as assigned

Requirements

REQUIREMENTS:

* 1-2 years' experience in collections

* Advanced knowledge of FDCPA (Fair Debt Collection Practices Act)

* High attention to detail and accuracy

* Organizational skills and multi-tasking abilities

* Ability to communicate effectively verbally and in writing

* Intermediate knowledge in Microsoft Office Suites (Word, Outlook and Excel)

* Ability to demonstrate a high degree of professionalism and trust in dealing with confidential and sensitive matters

* Ability to use tact, discretion and diplomacy

* Ability to prioritize and juggle multiple tasks simultaneously

WORK ENVIRONMENT:

This job operates in a professional office environment. This role routinely uses standard office equipment such as computers, phones, and photocopiers. This role also requires the ability to stand/sit for extended periods of time.

* 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

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