Loss Mitigation Specialist

Overview

Old National Bank has been serving clients and communities since 1834. With over $70 billion in total assets, we are a regional powerhouse deeply rooted in the communities we serve. As a trusted partner, we thrive on helping our clients achieve their goals and dreams, and we are committed to social responsibility and investing in our communities through volunteering and charitable giving.

We continually seek highly motivated and talented individuals as our people are critical to our success. In return, we offer competitive compensation with our salary and incentive program, in addition to medical, dental, and vision insurance. 401K, continuing education opportunities and an employee assistance program are also included in our benefit suite. Old National also offers a variety of Impact Network Groups led by team members who are passionate about driving engagement, creating awareness of diverse backgrounds and experiences, and building inclusion across the organization.

We offer a unique opportunity to join a growing, community and client-focused company that is firmly rooted in its core values.

The Loss Mitigation Specialist will focus on real estate secured loans that are 40+ days past due. All efforts are made to assist customers in maintaining possession of their homes or liquidating if they choose. To achieve this, the job requires the Loss Mitigation Specialist to assemble and present a plan that is beneficial to both the borrower and the bank.

The salary range for this position is $18.25/hr - $29.75/hr per hour. The base salary indicated for this position reflects the compensation range applicable to all levels of the role across the United States. Actual salary offers within this range may vary based on a number of factors, including the specific responsibilities of the position, the candidate’s relevant skills and professional experience, educational qualifications, and geographic location.

The position is based at Evansville and is in-office 5 days a week.

• Required to make outbound collection calls and take inbound calls related to Borrowers delinquencies and/or hardships.
• All calls must be handled to provide the upmost quality to our Borrowers, while also presenting solutions that best fit ONB’s interests and values.
• Will serve as a single point of contact for the Borrowers throughout the resolution process.
• Must be able to adhere to scheduling and deadlines to follow up with Borrowers throughout the resolution process.
• On occasion, must effectively and respectfully communicate with cohorts and management within ONB, as well as vendors and authorized third parties outside of ONB.

• Required to utilize all necessary Banking and Collection software to document all interactions with Borrowers, vendors, authorized third parties, etc.
• Will maintain files comprised of documents submitted by Borrowers during Loss Mitigation review.
• Will create and complete several analyses, forms and templates throughout the resolution process.
• Will be required to order and maintain various reports and valuations in relation to the collateral properties throughout the loss mitigation process.
• On occasion, will be required to maintain loan documentation from other lines of business within ONB.

• Must train to identify and understand the regulations that oversee the Bank’s processes, with a focus on the Collection and Loss Mitigation processes.
• Must follow all regulatory guidelines, through continued training and reference to all regulations while serving as Loss Mitigation Specialist.

• Communication:
  Effectiv…