Credit Union Loss Mitigation Specialist

Addvantage Credit Union Staffing - Rolling Meadows, IL (30+ days ago)4.7

Get out of the stack of dusty resumes and into the door at a credit union! ADDVantage Credit Union Staffing specializes in the temporary, temporary-to-hire and direct hire placement of tellers/MSR, consumer/mortgage lenders, call center representatives, collectors, back office support and accounting positions. By utilizing our professional resources, we are able to place the most qualified candidates in positions that may not otherwise be available.

Position Title / Information of Credit Union Loss Mitigation Specialist:

We are currently looking for an experienced Loss Mitigation Specialist for a well-established credit union in Rolling Meadows. This is a full-time long-term permanent position that we are looking to fill immediately. Successful candidates will have a minimum of 3 – 5 years of collateral recovery/loss mitigation experience preferably within a credit union or bank.

Pay: $55,000+/year

Responsibilities of Credit Union Loss Mitigation Specialist:

  • Prepare and submit repossession referrals to third-party recovery agents, ensuring skip-tracing and other pertinent information or documentation is shared
  • Will work directly with members to process redemptions, arrange for voluntary collateral surrenders and on establishing repayment plans (if applicable) on deficiency balances
  • Partner with other Loss Mitigation Specialists to determine if legal action is appropriate based on relevant criteria
  • Provide oversight to agents/vendors, ensuring appropriate performance metrics exist and are achieved
  • Lead or participate in agent/vendor capabilities assessment, selection and conversion.
  • Identify continuous operational improvement opportunities and service efficiency initiatives; recommend solutions, and lead the implementation of agreed upon changes
  • Provide project support on departmental or enterprise-level initiatives which may include UAT or release testing;
  • Develop and produce key management reports to improve efficiencies, minimize Credit Union risk and maintain compliance
  • Raise expectations of self by continuously learning and broadening industry knowledge and technical skills

Requirements of Credit Union Loss Mitigation Specialist:

  • 3 – 5 years of collateral recovery/loss mitigation experience preferably within a credit union or bank.
  • Deep functional knowledge relating to lending and collections laws particularly in repossession and post charge-off recovery.
  • Ability to use continuous improvement approach to enhance intra-departmental processes
  • Must be results driven, customer-service and quality-focused, and can work in a fast-paced, team-oriented environment
  • Must practice sound judgment and support team engagement activities
  • Must possess excellent communication, organizational and problem-solving skills
  • Must possess higher level knowledge of regulations relating to lending or collection laws
  • Advanced proficiency of MS Office Suite

Job Type: Full-time

Salary: $55,000.00 to $65,000.00 /year


  • Credit Union or Bank: 3 years
  • Collateral recovery/loss mitigation: 3 years


  • Rolling Meadows, IL 60008