Asset Management & Recovery Specialist I

About the role

Knoxville TVA Employees Credit Union is a not-for-profit, Member-owned, and locally operated financial institution serving the financial needs of its communities of Membership. We have 25 locations throughout East Tennessee and we serve more than 264,000 Members. The Credit Union helps Members grow financially by offering a variety of accounts including: checking, savings and investments. Also offered are competitive loan rates on new and used autos and recreational vehicles, mortgages, personal loans and credit cards.

Primary Responsibilities

• Receive inbound and make outbound calls, instant messages and texts from members, Credit Union employees and vendors.
• Absorb information, valuations and documents from Asset Management, Collection and Legal Recovery departments.
• Track and validate issues regarding members, vendors, collateral, payments and processes across all areas of collections and management.
• Maintain communication channels from members, vendors and Credit Union employees including but not limited to, instant messages, phone calls, emails, text messages and written correspondences.
• Understand Credit Union loan documentation, dealership ancillary product documents, payment protection process and documents, GAP and collateral protection insurance documents.
• Possess knowledge and understanding of loan and security agreements, titles, UCC documents, noting of lien, etc. that give the Credit Union a security interest in collateral.
• Collaborate with other departments to correct or increase the Credit Unions security interest.
• Perform collateral valuation methods and programs to establish fair market value when liquidating collateral at auctions/wholesale, private sales and public sales.
• Comply with laws and regulations. Learn process involving in-state and out of state vendors to secure, transport and liquidate collateral.
• Comply with Uniform Commercial Code (UCC) and Tennessee Code Annotated (TCA) regulations regarding titling, repossession and liquidation of collateral.
• Complete appropriate power of attorney, sale under special conditions forms, etc. to complete the sale of the collateral.
• Perform appropriate system maintenance to loans and accounts, perform research on loans and deposit accounts, transfer and posting of sale proceeds/refunds/payments to members accounts.
• Complete basic skip tracing techniques (including but not limited to reading credit reports and utilizing search engines, social media, and vendor systems).
• Understand Credit Union policies, products, and services. Offer solutions to members to prevent repossessions and/or minimize loss.
• Identify and recommend accounts for skip exceptions, modifications, and workout/consolidation loans when appropriate to minimize loss when speaking to members.
• Learn negotiation methods and documents to present to management for approval.
• Balance appropriate Credit Union vendor accounts and general ledgers.
• Process payments, conduct research, and verify information.
• Appropriately apply the Fair Debt Collection Practice Act in all account communication.
• Maintain an understanding of Credit Union utilized systems (including but not limited to collection, lending, core banking, and vendor systems).
• Follow all Credit Union policies, procedures, and regulations.
• Represent the Credit Union in a professional manner (including but not limited to appearance, behavior, and performance).
• Maintain regular and predictable attendance.
• Work cooperatively with others.

Education/Experience

• A high school diploma or equivalent required.
• Minimum of one year collection or credit union experience required.
• Experience collecting on multiple loan products strongly preferred.