• Loss Mitigation Specialist (Repossession)

    Job Location
    United States-IL-Rolling Meadows
    Work Status
    Loss Prevention & Recovery
    FLSA Status
    Requisition ID
  • Start a Rewarding Career with Alliant

    Why Alliant?

    We’re not a typical financial institution – we’re better. We’re an innovative, fun-loving, highly-engaged group of professionals that are committed to our company and the communities we do business in. We love to recognize and celebrate each other.


    Over 90% of our employees say we are a great workplace that is focused on our mission, vision and the future of banking.


    What will your day look like?

    You will be responsible for the operational management of the underlying business processes and technical platforms, vendor relationships, and human capital resource necessary to support the repossession and recovery activities. Our ultimate goal is to prevent or minimize loss. The Loss Mitigation Specialist (Repossession) is responsible for managing the full recovery lifecycle.


    Do you see yourself doing this?

    • 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


    What makes you a great fit?

    You’ll be a great fit if in addition to the completion of a Bachelor’s degree, 3-5 years in collateral recovery/loss mitigation, and you have:

    • 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 have the ability to 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.

    When you’re happy, we’re happy!

    As a thank you for joining our team, you’ll benefit from:

    • Competitive medical, dental, and free vision benefits
    • Competitive compensation plan
    • Contributions towards gym memberships
    • Generous PTO and banking holidays off

    Still not convinced?

    We’re on the list of 100 Best Medium Companies to work for, check it out here. For more details you can also visit our Glassdoor and LinkedIn profiles.


    Sorry the Share function is not working properly at this moment. Please refresh the page and try again later.
    Share on your newsfeed