Loss Mitigation Specialist

Company: Local Government Federal Credit Union
Location: Raleigh
Posted on: January 1, 2026

Job Description:

Civic Federal Credit Union is seeking a highly skilled and dedicated Loss Mitigation Specialist to join our team. This position plays a crucial role in managing and mitigating losses related to credit and loans, ensuring financial stability and minimizing risk exposure. The ideal candidate will work closely with individuals facing financial difficulties to negotiate payment solutions that benefit both the customer and the credit union. Evaluate the financial situations of delinquent borrowers and determine viable solutions to reduce loan defaults and mitigate potential losses. Negotiate restructured loan terms, forbearance agreements, and settlements with borrowers. Regularly update and maintain accurate records of all interactions, agreements, and collection efforts. Collaborate with legal, financial, and collections departments to develop strategies that align with the credit union's business objectives and compliance requirements. Provide guidance and support to borrowers, helping them understand their options and collaborating with them to prevent future financial distress. Forecast potential future losses and report findings to management to aid in organizational decision-making. Strong negotiation and conflict resolution skills In-depth understanding of loan servicing, modification programs, and collection practices Ability to analyze financial data and create effective risk mitigation strategies Excellent communication and interpersonal skills High level of empathy and customer service orientation Proficiency with banking software and Microsoft Office Suite Medical Insurance Dental Insurance Vision Insurance Life Insurance Certified Financial Services Auditor (CFSA) Certification in Risk Management Assurance (CRMA) is preferred but not required

Keywords: Local Government Federal Credit Union, Wilson , Loss Mitigation Specialist, Accounting, Auditing , Raleigh, North Carolina