Loan Workout Specialist - Lenexa, Kansas

Summary The Loan Workout Specialist provides loan workout options to members who risk repossession, foreclosure, or charge-off due to financial hardships by managing their loss mitigation requests. Work directly with members to explain the loan modification process, taking applications, and provide repayment solutions; ensuring that loss mitigation requests, including but not limited to short sales, workout loans, short-term modifications, and debt management proposals, are handled in a timely manner. In addition, the Loan Workout Specialist will work with debt management companies, attorneys and real estate agents based on the type of loss mitigation request. Role Hours: Monday-Friday from11am-8pm CT Duties & Responsibilities Correspond directly with members to identify hardships and reasons for non-payment on credit union loans. Utilize knowledge and experience to determine suitability of workout plans for members experiencing financial hardships. Evaluate temporary or permanent loss mitigation programs such as, but not limited to account re-ages, loan extensions, repayment plans, forbearance agreements, loan workouts/modifications, and short sales. Identify, maintain, track, and log requested documentation from members for loss mitigation review. Perform financial analysis, evaluate collateral value, and determine overall risk to mitigate losses. Work with members who are experiencing temporary hardships, utilizing credit union emergency/disaster assistance programs, such as the Endurance Plan. Negotiate and close short sales, communicating directly with members, attorneys and/or real estate agents; understanding residential real estate contracts, addendums, and effectively negotiate the short sale in the credit union’s best interests. Manage modification proposals received from non-profit-third-party debt management companies (i.e. consumer credit counseling), including analysis of the proposal within credit union agreement guidelines, corresponding with the agency the acceptance or denial of the proposal; processing modifications and follow-up on non-payment. Obtain Financial Counseling Certification and provide financial counseling to members through the workout process. Follow and apply state and federal laws in the review and processing of items. Make sound decisions that consider credit union risk and member service. Backup other duties within the department. Promote honest and open communication throughout the credit union, demonstrating behaviors that are consistent with the credit union’s values, philosophies, and leadership characteristics. Work with other credit union departments to ensure the workflow or process is providing the best service to the members. Other duties as assigned. Requirements Education and Experience Requirements: Associate degree in business administration or two (2) years of experience in a financial institution in an operations/back office or teller position. One (1) year Contact Center or Customer Service experience. Required Knowledge, Skills and Abilities: Extensive knowledge of financial institution operations processes. Knowledge of standard loss mitigation requirements and programs. Knowledge and ability to apply rules and regulations pertaining to direct responsibilities and other duties within the department. Knowledge of credit union services and products. Ability to communicate effectively in writing and verbally. Ability to handle highly emotional chats and phone calls with professionalism and empathy while still adhering to the departments policies and guidelines. Ability to resolve interpersonal conflict and miscommunications. Knowledge of spreadsheet software and ability to use word processing software. Must be able to be bonded. Preferred Knowledge, Skills and Abilities: Bachelor’s degree preferred. Extensive CommunityAmerica experience preferred. #J-18808-Ljbffr