Asset Recovery Specialist

Lake Trust Credit Union; Brighton (MI); On-site; USD 55,000 - 85,000; Full time

Benefits offered by this job

Financial wellbeing services

401(K) matching with up to 5% match

Reduced health insurance

Employee wellbeing services

DE&I initiatives

Work-life balance

Job summary

Lake Trust Credit Union is seeking an Asset Recovery Specialist to locate, reclaim, and manage missing or delinquent assets. You will perform skip-tracing, negotiate repayment or returned items, and coordinate asset liquidation to stay within state and federal regulations.

Research complex member issues, ensure timely follow up, and maintain strong customer service while supporting recoveries. Collaborate with internal teams and external partners to maximize outcomes.

Qualifications

• Six (6+) years’ experience in collections/recovery required.
• Strong analytical skills and the ability to use financial data to inform decisions.
• Strong written and oral communications skills.
• Independent with ability to work productively with minimal supervision.
• Proven ability to support a strong member/customer service culture.

Responsibilities

• Assist with review of charge off loan recommendations and disposition of repossessed assets.
• Track monthly loss mitigation data and identify training needs.
• Manage Loss Mitigation queues and real estate owned assets for the credit union.
• Perform all aspects of the real estate foreclosure process.
• Coordinate mobile home loans actions, foreclosures, and related recovery activities.
• Support post-charge off recoveries, settlements, and legal aspects to optimize outcomes.
• Locate hard-to-find debtors using specialized databases and investigative techniques.
• Negotiate repayment plans and loan modifications with delinquent borrowers.
• Work with external repossession agents and legal teams to secure assets.

Skills

Analytical skills

Communication skills

Independent work style

Customer service mindset

Education

High School diploma (GED)

Tools

Investigative databases

Job description

More Than A Job!

Why do you work each day? To us, our jobs are not just something we do to make a living, it’s a way to live. We work to support our members; whether celebrating moments of joy, finding a solution to an obstacle, or offering encouragement through a time of struggle. The worth of our work isn’t measured in dollars and cents, it’s seen in our communities and felt by the people who believe in us.

More Than A Job!

Why do you work each day? To us, our jobs are not just something we do to make a living, it’s a way to live. We work to support our members; whether celebrating moments of joy, finding a solution to an obstacle, or offering encouragement through a time of struggle. The worth of our work isn’t measured in dollars and cents, it’s seen in our communities and felt by the people who believe in us.

Benefits Include

• Financial wellbeing services
• 401(K) matching with up to 5% match
• Reduced health insurance
• Employee wellbeing services
• DE&I initiatives
• Work-life balance

Job Summary

Asset recovery specialist locates, reclaims, and manages missing, delinquent, or unclaimed financial and physical assets. Core tasks include skip-tracing, negotiating payment or returned items, and coordinating asset liquidation Ensure asset recovery activities are within the scope of state and federal regulations. Research and resolve complex member service problems, loan/share questions and/or complaints to ensure proper follow up and member satisfaction. Familiar with credit union concepts, practices and procedures and uses a wide range of creativity and latitude to accomplish goals. Troubleshoot and provide feedback to management regarding system errors or member complaints. Responsible for aspects of loan disposition and asset recovery. Review departmental reports to ensure compliance with rules and regulations. Maintain positive interaction with internal and external members and ensure the experience is reflective of the spirit of our brand.

What You’ll Do

• Assist with the review of charge off loan recommendations and assist to complete charge off processing within the core system. Recommend the disposition of repossessed assets.
• Track monthly loss mitigation data and identify training needs; suggest and assist with implementing efficiencies for Account Resolution Team Members.
• Work assigned Loss Mitigation queues on a weekly basis by delegating; administering other real estate owned (OREO) by the credit union.
• Perform all aspects of the real estate foreclosure process
• Review and determine when Mobile Home loans should be sent for legal action. Prepare Mobile Home spreadsheet monthly for the accounting department. Oversee foreclosures or seized mobile homes and all associated processes involved in asset recovery.
• Assist in the management of all post-charge off loan recoveries, settlements, and legal aspects to optimize recoveries.
• Locate hard-to-find debtors or hidden collateral using specialized databases and investigative techniques.
• Contact clients with delinquent accounts to negotiate repayment plans, loan modifications, or voluntary surrenders.
• Recommend the disposition of repossessed assets. Partner with external repossession agents, law enforcement, and legal teams to repossess and secure physical assets.
• Maintain precise interaction logs and ensure all recovery steps adhere to local and federal financial regulations.
• Prepare files for asset resale, charge-offs, or legal litigation, and report recovery metrics to management.
• Perform other duties as required or assigned.

What You’ll Bring

• High School diploma (GED) required.
• Six (6+) years’ experience in collections/recovery required.
• Strong analytical skills, ability to think strategically and influence business decisions using appropriate, fact-based financial information.
• Strong written and oral communications skills.
• Independent with ability to work productively with minimal direct supervision.
• Proven ability to support a strong member/customer service culture.

What You’ll Get

• Ability to collaborate and build a sense of togetherness that contributes to a positive work environment.
• Being open to change and embracing new opportunities can lead to diverse experiences and career advancement.
• By prioritizing member wellbeing, which leads to increased engagement, improved team dynamics, higher levels of motivation and a stronger community culture.