Loss Mitigation And Asset Recovery Specialist

The Loss Mitigation and Asset Recovery Specialist preserves the Credit Union's assets by controlling delinquent accounts, processing modifications and/or recovering collateral. Performs the asset risk function of credit union collections activities by reviewing and administering account charge off actions, researching collateral risk, resolving foreclosure actions and tracking, monitoring delinquency reports, processing bankruptcy accounts and following bankruptcy laws, placing automobiles for repossession and tracking and responding to member calls and emails regarding collections. Performs all responsibilities in accordance with federal/state regulations and credit union policies/procedures.

ESSENTIAL FUNCTIONS AND RESPONSIBILITIES

Processes all bankruptcy accounts in accordance with policies, procedures and processes, which includes processing payments and loan modification paperwork when plan treatment is verified. Codes bankruptcy accounts appropriately within computer system. Tracks all bankruptcy cases, and generates related reports.

Responsible for directing and managing the transport, maintenance, repair, sale and security of vehicle repossessions. Responsible for the proper documentation and record maintenance associated with vehicle sales activities. Ensures pricing of repossessed vehicles is in a fair market range.

Provide support to Collections Manager; assist with entire opening process associated with various loan workouts, reworks and restructures.

Leads or participates in quality control audits to ensure the adherence to Federal, State and Local Bankruptcy laws, internal compliance standards, and investor, insurer, and agency guidelines.

Responsible for reviewing, analyzing, approving and underwriting routine individual consumer requests and products with few deviations and within company and industry guidelines.

Responsible for monitoring and tracking all assigned foreclosures and evictions throughout the litigation process.

Responsible for making sound judgments on behalf of investor and insurer guidelines to reduce any losses.

Maintains positive working relationships with outside counsel, vendors, and internal default teams.

Performs other duties as assigned.

PERFORMANCE MEASUREMENTS

Performance is measured against the position requirements and against goals established by the supervisor.

QUALIFICATIONS

Experience

Knowledge of collection process, applicable regulations, and good communication skills.
Experience using PC based software including Microsoft Office, Word, Excel, Outlook, Pacer etc.

Experience using Symitar Episys a plus.

Education

Associates degree in business preferred, and 2+ years' experience in collections, loss mitigation, asset recovery; or a comparable combination of education and experience.

Interpersonal Skills

Ability to project a professional appearance and positive attitude at all times.
Work involves much personal contact with others inside and/or outside the organization for the purpose of first-level conflict resolution, building relationships, and soliciting cooperation. Discussions involve a higher degree of confidentiality and discretion, requiring diplomacy and tact in communication.

Other Skills

This position requires that the employee gain a working knowledge of Bank Secrecy Act (BSA) requirements and how they will affect their work. The employee will comply with all requirements of the BSA and cooperate with the designated BSA Officer in assuring compliance.

Work Environment

Normal working conditions in an office setting.

Equal Opportunity Statement

Employment at our Credit Union is based upon merit, ability, and qualifications. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability, status as a protected veteran, or any other legally protected status.