UMB Financial Corporation

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Loss Mitigation Specialist

at UMB Financial Corporation

Posted: 5/30/2019
Job Status: Full Time
Job Reference #: 1373848
Categories: Other/General
Keywords: company

Job Description

What You'll Do
This position will be responsible for loss mitigation functions on consumer loan accounts up to 120 days delinquent while conforming to lending policy, and debt collection regulations.
-Provide oversight of assigned accounts and ensure servicing standards are achieved to minimize potential losses.
-Service accounts subject to Bankruptcy, Repossession and Foreclosure and maintain accurate records of servicing and provide recommended actions.
-Service inbound/outbound delinquent customer calls to negotiate arrangements.
-Locate assets utilizing call and skip tracing methods.
-Identify problem loans and makes recommendations for Charge Off, Litigation, Repossession, and Foreclosure to Management.
-Identify, develop, recommend, and implement servicing strategies based on risk mitigation requirements, regulatory guidance, and department best practices.
-Prepare reports as required for internal department use and senior management review.
-May assist in training of other collection associates.
-Other duties as assigned.

Requisition Number
10397BR

At UMB
We strive to deliver the unparalleled customer experience, and show customers they can count on more from UMB. The same is true for our associates. You can count on more benefits, more training, more support, and more opportunity!

What you'll get:
Unique Benefit Programs : We offer a great benefits package including several unique programs like an incentive-based wellness program, parental leave, adoption assistance and health care for you, your spouse or domestic partner, your dependents and even your pets!!
Professional Development: We provide our associates with the tools they need to support their career goals - including training, tuition reimbursement and career guidance.
Community Involvement: Giving back is a big part of who we are! We support several great causes throughout the UMB footprint. We even offer Volunteer Time Off, which allows associates to dedicate 16 hours a year to a worthy cause of their choice.
Culture of Diversity and Inclusion: We are committed to building a strong UMB by hiring talented, high-performing associates with diverse backgrounds. Maybe you simply want to work at a company where you have a voice and an opportunity to share your unique ideas.

Please visit us at careers.umb.com to view a list of all available opportunities. UMB is an Equal Opportunity Employer. Principals only. No 3rd parties or agencies, please.

Work Schedule
Monday-Friday: 8:00am-5:00pm

Division Name
Credit Underwriting

City
Kansas City

Preferred Requirements
-Bachelor's degree in Business or Finance
-5+ years related consumer debt collection experience
-Experience collecting accounts up to 120 days delinquent
-Experience with Residential Real Estate Loss Mitigation servicing
-Experience with specialty servicing including bankruptcy, repossession, foreclosure, and recovery collections

Job Title
Loss Mitigation Specialist

Address
1010 Grand Blvd

Shift
Full Time

State
MO

In this Role, You will Need
-Demonstrates strong verbal and written communication skills
-Demonstrates understanding of consumer debt collection laws
-Demonstrates ability to evaluate customer data (credit bureaus, income ratios, etc.)
-Demonstrates strong analytical and problem solving skills with the ability to prioritize multiple tasks
-Demonstrates knowledge of consumer related debt collection regulations (i.e., FDCPA, FCRA, Reg B)
-Demonstrates knowledge of bankruptcy, foreclosure, and repossession servicing requirements
-Demonstrates advanced knowledge of Microsoft Office Suite (Excel, Word, PowerPoint, Outlook, etc)

Who You Are
-High School Diploma or equivalent
-3+ years consumer debt collection or comparable experience