Senior Recovery Specialist

Role

The Senior Recovery Specialist handles more complex collections and recoveries. Receives and responds to legal orders to withhold, including but not limited to garnishments, liens, and levies. Receives, evaluates, counters/accepts, and responds to member settlement requests. Serves as liaison with non-Real Estate collateral repossession companies. Participates in maintaining a sound loan portfolio through advanced and complex delinquency control methods. Recommends further action on accounts as deemed necessary including repossession, legal action, and foreclosure. Assists Recovery Specialist in daily duties as time permits.

Major Duties and Responsibilities

1. Complex & Advanced Age Collections: Collection of complex delinquent accounts such as those of deceased members, safe deposit box collection, real estate loans approaching foreclosure and charged off loans when legal efforts exhausted or ineligible. Initiate and facilitate the repossession process through liquidation for charged off loans, including picking up collateral if necessary, contracting with outside vendors for repossession, clean up, repair, etc. Maintains collateral while in the possession of the Credit Union. Secure all necessary documents including titles to convey ownership to successful bidder. Performs charge off loan transactions and account maintenance after charge off approval received. Responsible for collection of charged off accounts including soliciting payment arrangements, interviewing members to determine reason for advanced delinquency, and taking appropriate action to resolve the account (which could include creating and monitoring repayment plans). Act as resource for the Credit Union’s staff regarding collection accounts, charged off loan accounts, bankruptcy accounts, and/or accounts affected by garnishment, lien, levy , or mechanic liens. Acts as a liaison with regards to repossession companies.
2. Regulatory Responsibilities: Understand consumer bankruptcy filing and its impact on the collection of member accounts. Monitoring member bankruptcies and referring accounts to the Assistant Director of Risk as appropriate. Understands the Fair Debt Collection Practices Act and all other collection related regulatory guidance and requirements. Market collateral and complete bid process for sale of collateral in compliance with Credit Union policy and all other applicable State and Federal regulations. Research possible recovery options including GAP/warranty premium refunds. Ensure proper legal notices provided to member prior to liquidation and after sale of collateral including collection of deficiency balance.
3. Account Attachment: Monitor and respond to garnishments , liens, and levies by properly restricting access to accounts, ensuring all parties are properly notified and that all required deadlines are met.
4. Administration of Settlement Offers: Receives, evaluates, counters/accepts, and responds to all member requests for settlement of less than the balance due. Responsible for handling notices of mechanic’s or storage liens.
5. Must comply with all company policies and procedures, applicable laws, and regulations, including but not limited to, the Bank Secrecy Act, the Patriot Act, and the Office of Assets Control.

Knowledge and Skills 

EXPERIENCE

Up to six months of similar or related experience including time spent in similar or preparatory positions. 

EDUCATION/CERTIFICATIONS/LICENSES

 A high school degree or GED is required. 

INTERPERSONAL SKILLS

 A significant level of trust, credibility and diplomacy is required. In-depth dialogue, conversations and explanations with customers, direct and indirect reports and outside vendors can be of a sensitive and/or highly confidential nature. Communications may involve motivating, influencing, educating and/or advising others on matters of significance. Typically includes subject matter experts as well as first level to middle managers. 

OTHER SKILLS

 Ability to speak Spanish is a plus.

ADA Requirements

 PHYSICAL REQUIREMENTS

Is able to bend, sit, and stand in order to perform primarily sedentary work with limited physical exertion and occasional lifting of up to 10 lbs. Must be capable of climbing / descending stairs in an emergency situation. Must be able to operate routine office equipment including computer terminals and keyboards, telephones, copiers, facsimiles, and calculators. Must be able to routinely perform work on computer for an average of 6-8 hours per day, when necessary. Must be able to work extended hours or travel off site whenever required or requested by management. Must be capable of regular, reliable and timely attendance. 

WORKING CONDITIONS

Must be able to routinely perform work indoors in climate-controlled shared work area with minimal noise. This position may be eligible for remote work.

MENTAL AND/OR EMOTIONAL REQUIREMENTS

Must be able to perform job functions independently or with limited supervision and work effectively either on own or as part of a team. Must be able to read and carry out various written instructions and follow oral instructions. Must be able to complete basic mathematical calculations, spell accurately, and understand computer basics. Must be able to speak clearly and deliver information in a logical and understandable sequence. Must be capable of dealing calmly and professionally with numerous different personalities from diverse cultures at various levels within and outside of the organization and demonstrate highest levels of customer service and discretion when dealing with the public. Must be able to perform responsibilities with composure under the stress of deadlines / requirements for extreme accuracy and quality and/or fast pace. Must be able to effectively handle multiple, simultaneous, and changing priorities. Must be capable of exercising highest level of discretion on both internal and external confidential matters.

Acknowledgment

Nothing in the position description restricts management’s right to assign or reassign duties and responsibilities to this job at any time. 

Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions. This Job description is not a contract and should not be constructed as a guarantee of employment for any period of time. 

Topside FCU is an Equal Opportunity Employer and does not discriminate against employees or applicants based on race color, religion, sex/gender, national origin, disability, age, or any other category protected by law.