Loss Mitigation Specialist

POSITION SUMMARY:

The Loss Mitigation Specialist is responsible for keeping track of overdue loan accounts and proactively working with borrowers to resolve delinquencies. Primary tasks include communicating with borrowers, conducting financial analyses, providing payment assistance solutions where appropriate, and preparing monthly reports. The Loss Mitigation Specialist also serves as backup support to the Executive Assistant to the President.

ESSENTIAL FUNCTIONS:

Customer Service: Effectively communicate with borrowers to resolve delinquencies, offer payment assistance solutions, and answer general queries as needed. Diligently protect customer confidentiality.

Delinquency Tracking: Track overdue accounts and keep delinquency rates within stated tolerance limits through early intervention.

Reporting Requirements: Maintains thorough customer contact records and timely prepare accurate monthly reports.

Bankruptcies: Receive bankruptcy notices and maintain systems to accurately reflect bankruptcy status. Prepare and file proof of claim and reaffirmation agreements. Initiate referrals to bankruptcy counsel for matters requiring outside legal services.

Collections: Assist Collections Manager in the commencement and prosecution of legal action against borrowers. Monitor compliance with payment agreements. Conduct online research on judgment debtors for collections purposes.

Credit Reporting: Provide status information to credit reporting agencies. Verify collections-related file exceptions and make corrections as needed.

Coverage for Corporate Secretary & Executive Assistant to the President: Provide coverage for Board Meetings and other scheduled events. Provide on-demand back-up support as required. It is expected that while stationed at the Corporate Secretary's desk, the Loss Mitigation Specialist will be able to perform most, if not all, duties under their job description. The Loss Mitigation Specialist will also receive training on matters relating to the Corporate Secretary's position, including but not limited to general administrative duties, Board meetings and related duties and Stockholder matters.

*Other duties may be assigned.

MINIMUM JOB REQUIREMENTS:

A High School Diploma or GED equivalent, with two (2) or more years of general banking experience preferred.

Working knowledge of Microsoft Office applications, such as Word. Excel, Outlook, and Teams.

Ability to work independently and resolve novel problems if necessary.

Ability to organize multiple priorities to meet monthly goals.

PHYSICAL DEMANDS:

Must be able to effectively communicate with customers, co-workers, and outside bank personnel.

Normal daily physical activities include walking, standing, sitting, stooping, bending, pushing, and pulling.

Occasionally will lift 15-20 pounds (files, storage boxes, etc.)

Adirondack Trust is an Equal Opportunity/Affirmative Action employer. All qualified applicants will receive consideration for employment without regard to race, color, religious creed, sex, transgender status, gender identity, gender dysphoria, sexual orientation, national origin, physical or mental disability, protected veteran status, marital and familial status, domestic violence victim status, known relationship or association with any member of a protected class or other characteristics protected by applicable law.