Apply for this position on Indeed!

TITLE: Financial Recovery Specialist

DEPARTMENT: Operations

REPORTS TO: CFO

Purpose:

Responsible for the control of late and/or delinquent loan accounts and pending late payment reminders. Make follow up telephone calls on delinquent loan accounts and maintain accurate records on delinquent loan accounts. Optimize collections on accounts while balancing the goodwill of members with the overall business interests of the credit union.

Duties and Responsibilities:

Monitor payments for late and/or delinquency status. Follow up on delinquent, high-balance, and overdue credit balance accounts by phone and/or letter. Ensure professional interaction with members.
Mail payment notices, ensuring that credit union errors are detected promptly and corrected.
Contact high balance and/or delinquent members by telephone and mail to determine the reasons for balance or delinquency and assist them in developing plans to bring accounts to a current status. Develop workout plans and collect on overdue accounts whenever possible.
Follow up on delinquent loans and make calls for interest, partial, or full payment.
Notify co-signers regarding status of delinquent accounts.
Respond to telephone calls regarding payment notices and delinquent accounts.
Maintain a detailed written record of all communications made regarding delinquency.
Assist members with delinquent real-estate loans to resolve delinquency.
Determine when to compromise and settle balances and when to initiate foreclosure or repossession proceedings.
Determine when loan collateral should be repossessed and serve as liaison with attorneys or agencies in handling repossession of collateral.
Update files and system accounts via the credit union’s delinquent loan recovery system.
Secure credit bureau reports. Skip trace on loan accounts. Maintain accurate data for repossession log, bankruptcy files, charge-off list, etc.
File all claims, coordinate with trustees and process payments for all bankruptcy filings.
Investigate and correct discrepancies on loans and credit bureau reports.
Monitor ODP, negative checking and saving accounts and assist members in bringing these accounts to a positive balance.
Process GAP claims and reconcile monthly GAP reports.
Process Total Loss claims.
Reconcile Property Taxes and Insurance payments bi-annually for all escrow accounts
Process Disability/Life Insurance claims.
Ability to become a Notary.
Other duties as assigned.
Physical Demands:

Remain in a stationary (sitting or standing) position 75% of the time.
Occasionally move about inside the office to access file cabinets, office machinery, etc.
Constantly operate a computer and other office productivity machinery, such as a calculator, copy machine, and computer printer.
Expected Hours of Work:

This is a full-time, non-exempt position. Days and hours of work are determined by the CFO and outlined in the Employee Handbook according to Hours of Operation. Occasional evening and weekend work may be required as job duties demand.
This position is non-exempt from the Fair Labor Standards Act.
Travel:

This position requires some travel to occasional seminars/learning opportunities and community events.

Required Education and Experience

High School Diploma or GED/Equivalent.
Previous Collection Experience Preferred
Candidates not meeting these requirements will not be reviewed.

For information on Your Legacy Federal Credit Union visit our website at www.yourlegacyfcu.com.

Your Legacy Federal Credit Union is an equal opportunity employer, and all qualified applicants will receive consideration for employment without regard to race, color, religion, sex, national origin, disability status, protected veteran status or any other characteristic protected by law.

Hiring immediately. Previous bank or credit union collection experience will be considered a plus.

Job Type: Full-time

Pay: From $20.00 per hour

Benefits:

401(k)
401(k) matching
Dental insurance
Health insurance
Life insurance
Paid time off
Tuition reimbursement
Vision insurance
Work Location: In person