Loss Mitigation Consultant

## Loss Mitigation Consultant Apply locations:
Chicago, ILtime type:
Full time posted on:
Posted Todayjob requisition :
R157558
** About Northern Trust
** As a global leader in innovative wealth management, asset servicing, asset management and banking services, Northern Trust (Nasdaq: NTRS) is proud to guide the world’s most successful individuals, families, corporations and institutions.  Since 1889, we have aligned our efforts with our three guiding Principles That Endure:
Service, Expertise, and Integrity. Together, they reflect the three cornerstones of business conduct which we strive to instill in our employees, whom we call partners, and to provide to our clients and the communities we serve worldwide.  With more than 135 years of financial experience and over 24,000 partners, we serve the world’s most sophisticated clients using leading technology and exceptional service.
The key responsibilities of the role include:
* Reviews, disseminates, and interprets policies and procedures for mortgage related products.
* Works to proactively establish and document related policies, procedures, and standards within the parameters of any relevant laws and regulations.
* Verifies that activities meet any federal, state and/or local legal and regulatory requirements and regulations and monitors outcomes/risk levels for the organization or assigned area.
* Communicates with distressed borrowers working through assistance requests or foreclosure process.
* Coordinates with involved attorneys.
* Further communicates and provides risk mitigation advice and requirements to managers and appropriate personnel.
* Reviews Borrower Response Packages for assistance to determine if they are complete and assess and analyze for next steps.
* Prepares internal reporting associated with mortgage loss mitigation. Assists in preparation of risk rating and accrual recommendations.
* Consults with partners regarding daily decisions that could pose risk and conflict with existing policy and assist with client negotiations on various issues that may present elements of risk.
* Identifies situations which pose significant risk and guides management in developing policies and/or procedures that create the proper balance between risk and reward.
* Interacts with regulators, internal and external auditors on regulatory topics as needed and appropriate.

The successful candidate will benefit from having:
* Knowledge of risk management and strategic goals for the bank's business.
* Strong knowledge of mortgage regulations, federal, state, and local laws and regulations that impact key activities.
* Working knowledge of loan systems, operations, and researching payments.
* Communication and analytical skills are necessary to consult with partners/clients and analyze information and to develop compliant policies and procedures.
* 7 or more years of risk management or compliance experience.

Experience with residential mortgages, loss mitigation, and/or foreclosure/bankruptcy.#LI-LK2, #LI-Hybrid Salary Range:$74, USD
* Salary range is a good faith estimate of base pay. Northern Trust provides a comprehensive benefits package including retirement benefits (401k and pension), health and welfare benefits (medical, dental, vision, spending accounts and disability), paid time off, parental and caregiver leave, life & accident insurance, and other voluntary and well-being benefits. Northern Trust also provides a discretionary bonus program that may include an equity component.
* ** Work Authorization
** Applicants must be authorized to work in the U.S. without the need for employment-based visa sponsorship now or in the future. Northern Trust will not sponsor applicants for U.S. work visa status for this opportunity (no sponsorship is available for H-1B, L-1, TN, O-1, E-3, H-1B1, F-1, J-1, OPT, CPT or any other employment-based visa).
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