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 necessary efforts to reach members via phone, electronic, and written correspondence with the goal of resolving delinquency, maximizing recoveries, and mitigating losses for the credit union. Responsible for determining asset values, cost effectiveness, and lien position, as well as maintaining account information and communication with vendors.

At GreenState, our purpose is to create lasting value for our members, our communities, and one another. We empower our teams to create opportunities that strengthen financial well-being, transform lives, and enhance the vitality of the communities we serve. We foster an engaging, diverse, and inclusive workplace where everyone knows they matter, their work makes an impact, and their commitment to living our values brings our mission to life.

Responsibilities

• Performs essential duties in collections and recovery, adhering to the Credit Union's core values and Service Standards.
• Demonstrates a positive member service focus and supports a diverse and inclusive work environment.
• Reviews daily delinquency, repossession, recovery, deceased, and loss mitigation queues; completes follow-ups via telephone, electronic, and written correspondence.
• Contacts co-makers, co-borrowers, guarantors, and performs tasks to aid in the collection of past due, charged-off, or overdrawn accounts.
• Completes required due diligence and contact attempts on deceased member accounts.
• Maintains accurate and punctual member records, documenting all communication and collections activity.
• Performs legal, factual, and records research, as well as extensive skip-tracing to locate members and assets.
• Makes determinations on Cease-and-Desist accounts.
• Completes loss mitigation reviews, including gathering documents, ordering property valuations, and underwriting borrower’s income.
• Works with Collections Supervisor and SVP/Collections & Recoveries on loss mitigation reviews outside of delegated authority.
• Provides recommendations for charge-off or foreclosure with detailed analysis.
• Prepares monthly reporting on loss mitigation, repossession, recovery, and remarketing.
• Handles asset recovery, including determining cost effectiveness, approving repossessions, coordinating replevin actions, and recommending charge-offs.
• Negotiates settlements within delegated authority and manages post charge-off recovery.
• Prepares and submits information for short sale, abandonment, and settlement requests outside delegated authority limits.
• Represents the credit union as a witness in litigation proceedings, which may require travel.
• Refers members to financial counseling when necessary.
• Communicates with vendors to ensure accurate records and timely processing of requests.
• Provides coaching and feedback to peers and assists in new hire training or job shadowing.
• Monitors Bankruptcy accounts to ensure adherence to court-ordered plans and coordinates with the Legal department as needed.
• Oversees end-to-end claim management of Insured products, managing relationships with vendors and members.
• Manages interactions with direct dealerships to request and follow up on refunds of back-end products.
• Answers questions from members, internal staff, and dealers related to products and claims.
• Assists in updating process documentation and performs related duties or special projects as assigned.
• Understands and adheres to company policies, procedures, and all applicable state and federal collection laws and regulations.

Requirements

• High School Diploma or GED.
• Minimum of five years of collection experience.
• Ability to complete full analysis of loans to determine repossession, foreclosure, charge-off, or recovery placement.
• Working knowledge of legal principles, practices, terminology, and research techniques.
• Reports to work punctually and works overtime as necessitated by business demand, including non-traditional hours.
• General knowledge of lien positions and perfections.
• Demonstrated excellence in consulting and advising members via telephone and written communication.
• Interpersonal and persuasive skills necessary for gathering data and representing the Credit Union during stressful member contact.
• Ability to work independently, prioritize assignments, organize work efficiently, and make decisions without immediate supervision.
• Ability to handle large volumes of details with accuracy and attention to detail.
• Excellent analytical skills.
• Proficiency in operating related computer applications and office equipment.
• Must be bondable.

Pay

Pay range for this hourly position is $38.06 - $44.50 per hour with a progressive benefits package.

Schedule

This is an in-office position located in either North Liberty or Clive, IA.