Senior Asset Recovery Specialist

About the role

Reviews and works all assigned accounts, ensuring all applicable collections and recovery efforts are completed. Makes determinations, via full analysis of accounts, on loss mitigation options, repossession, foreclosure, charge off and recovery placement. Completes all applicable and necessary efforts to reach member via phone, electronic and written correspondence with the goal of resolving delinquency, maximizing recoveries and mitigating losses for the credit union.

Responsibilities

• Makes determinations on Cease and Desist accounts.
• Completes loss mitigation reviews, including but not limited to gathering necessary documents and information from members to complete a full analysis.
• Orders property valuation and title search.
• Underwrites borrower’s income through review or applicable documentation.
• Completes all due diligence and follows up with members to get loan modifications agreements signed and closed.
• Completes recommendation for charge off or foreclosure to Collections Supervisor including detailed analysis completed for the recommendation.
• Prepares required updated monthly reporting on loss mitigation, repossession, recovery and remarketing.
• Handles all matters regarding asset recovery including, but not limited to, determination of cost effectiveness within delegation of authority.
• Approval, assignment and monitoring of repossession in a timely manner.
• Recommendation and coordination of replevin action with our legal department.
• Recommendation for charge off once assets are recovered and remarketed or efforts have been exhausted.
• Controls risk by completing account audits, ensuring compliance prior to assignment for third party collection.
• Reviews and analyzes accounts to ensure appropriate action is taken.
• Represents the credit union as a witness in litigation proceedings on externally placed legal accounts, which may require travel.
• Refers members to financial counseling when necessary.
• Communicates with vendors to ensure up to date information is shared, records are accurately maintained, and vendors are processing requests in a timely manner.
• Provides coaching and feedback to peers where appropriate to ensure effective handling of delinquent accounts.
• Makes decisions on and possesses the approval authority to negotiate settlements within delegated operational areas and manages post charge-off recovery.
• Attends sheriff sales, as required, with legal counsel and is responsible for following up with county treasurer and the member on tax sale notices to protect GreenState mortgage position.
• Reviews, updates and creates procedures and job aids.
• Assists management in beta testing on newly onboarded vendors to create new procedures and processes.
• Assumes responsibility for related duties and special projects as required or assigned.

Requirements

• High School Diploma or GED.
• Minimum of seven years collection experience, with reasonable knowledge of collection practices, consumer credit, repossession, mortgage and bankruptcy laws and regulations.
• Working knowledge of legal principles, practices, terminology and research techniques.
• Ability to complete full analysis of loans to make correct determination on possible repossession, foreclosure, charge off or recovery placement with the goal of mitigating losses and maximizing recoveries for the credit union.
• Reports to work punctually, works all scheduled hours, and works overtime as necessitated by business demand.

Qualifications

• General knowledge of lien positions & perfections.
• Demonstrated excellence in consulting and advising customers via telephone and written communication.
• Interpersonal and persuasive skills necessary to gather data from several sources and to represent the Credit Union in a positive way during periods of stressful member contact.
• Ability to work independently, prioritize assignments, organize work efficiently, and make decisions independent of input from immediate supervisor.
• Accuracy, attention to detail and strategic thinking required.
• Excellent analytical skills.
• Ability to operate related computer applications and office equipment.
• Must be bondable.

Skills

• Excellent analytical skills.
• Ability to operate related computer applications and office equipment.

Benefits

Salary range for this position is $90,593.36 - $105,914.12 with a progressive benefit package.

Pay

$90,593.36 - $105,914.12

Schedule

N/A