Legal Recovery Supervisor

IH Mississippi Valley Credit Union; Moline (IL); On-site; USD 75,000 - 95,000; Full time

Benefits offered by this job

Training and resources

Competitive compensation

401(k) with company match and profit–

Paid holidays and generous PTO

Tuition reimbursement

Paid community volunteer opportunities

Health, dental, and vision insurance

On-site fitness center

Job summary

IH Mississippi Valley Credit Union is seeking a knowledgeable Legal Recovery Supervisor to guide our Legal team and oversee complex servicing activities. The role balances regulatory requirements, financial risk, and member impact while strengthening controls and processes.

You will work closely with leadership, oversee bankruptcy servicing, and coordinate asset-recovery efforts, ensuring accurate documentation and timely service in a regulated environment.

Qualifications

• High school diploma or equivalent required.
• Six+ years in financial institutions, preferably lending, collections or legal servicing.
• Strong knowledge of bankruptcy laws (Chapters 7, 11, and 13).
• Knowledge of repossession, foreclosure, levy, garnishment, liquidation, and loss-mitigation processes.
• Familiarity with applicable NCUA, CFPB, FDCPA, FCRA, SCRA, and state-specific requirements.
• Ability to balance regulatory requirements with risk and member impact.

Responsibilities

• Lead and support the Legal team in completing daily legal servicing responsibilities accurately, efficiently, and on time.
• Coordinate workflows, prioritize high-risk matters, and help ensure regulatory deadlines and service expectations are met.
• Oversee bankruptcy servicing activities involving Chapters 7, 11, and 13, including documentation, reaffirmation agreements, repayment plans, account maintenance, and regulatory modifications.
• Support repossession, foreclosure, levy, garnishment, deceased-account, liquidation, and other asset-recovery processes.
• Review complex legal servicing matters, evaluate recovery options, and elevate situations requiring management or legal counsel.
• Coordinate settlement administration, financial tracking, and 1099-A and 1099-C reporting activities.
• Review work for accuracy, identify missing or inconsistent documentation, and maintain strong records and audit trails.
• Develop and maintain procedures, training materials, internal controls, and team communications.
• Identify process gaps, compliance concerns, and opportunities to improve efficiency without compromising quality or regulatory requirements.
• Assist with audits, reporting, departmental projects, and month-end and year-end activities.
• Serve as a trusted resource for team members and internal partners regarding legal servicing processes, systems, and regulatory requirements.

Skills

Regulatory knowledge

Bankruptcy law

Financial services

Legal servicing

Risk assessment

Process improvement

Team leadership

Education

High school diploma

Job description

IHMVCU is looking for a knowledgeable and detail-oriented Legal Recovery Supervisor to help guide our Legal team and oversee complex legal servicing activities. This position is ideal for someone with strong financial institution experience who can balance regulatory requirements, financial risk, operational needs, and the impact decisions may have on our members.

Summary of Position

The Legal Recovery Supervisor supports the leadership, coordination, and oversight of the Legal team, ensuring legal servicing activities are completed accurately, efficiently, and in compliance with applicable regulations, investor requirements, and Credit Union policies.

Working closely with the Director of Financial Solutions, this position serves as a subject matter expert and a key decision-making resource for the team. The Legal Recovery Supervisor will provide guidance, strengthen internal controls, identify potential risks, and help improve processes across bankruptcy, asset recovery, mortgage legal servicing, credit reporting, and other legal matters.

Skills and Qualifications

• High school diploma or equivalent required.
• At least six years of financial institution experience, preferably in lending, collections or legal servicing.
• Strong knowledge of bankruptcy laws, including Chapters 7, 11, and 13.
• Knowledge of repossession, foreclosure, levy, garnishment, liquidation, and loss-mitigation processes.
• Familiarity with applicable NCUA, CFPB, FDCPA, FCRA, SCRA, and state-specific requirements.
• Sound judgment and the ability to evaluate complex situations, balance competing risks, and determine when escalation or legal counsel is needed.
• Strong planning, organization, problem-solving, and time-management skills.
• Process-oriented mindset with the ability to strengthen procedures, controls, and workflow consistency.
• Professional communication and collaboration skills, especially when navigating complex matters or differing perspectives.

What You'll Do

• Lead and support the Legal team in completing daily legal servicing responsibilities accurately, efficiently, and on time.
• Coordinate workflows, prioritize high-risk matters, and help ensure regulatory deadlines and service expectations are met.
• Oversee bankruptcy servicing activities involving Chapters 7, 11, and 13, including documentation, reaffirmation agreements, repayment plans, account maintenance, and regulatory modifications.
• Support repossession, foreclosure, levy, garnishment, deceased-account, liquidation, and other asset-recovery processes.
• Review complex legal servicing matters, evaluate recovery options, and elevate situations requiring management or legal counsel.
• Coordinate settlement administration, financial tracking, and 1099-A and 1099-C reporting activities.
• Review work for accuracy, identify missing or inconsistent documentation, and maintain strong records and audit trails.
• Develop and maintain procedures, training materials, internal controls, and team communications.
• Identify process gaps, compliance concerns, and opportunities to improve efficiency without compromising quality or regulatory requirements.
• Assist with audits, reporting, departmental projects, and month-end and year-end activities.
• Serve as a trusted resource for team members and internal partners regarding legal servicing processes, systems, and regulatory requirements.

Why Join IHMVCU?

Being part of Team IHMVCU is more than just a job. It's an opportunity to make a positive impact on our members, our communities, and your career.

We offer:

• Outstanding training, support, and resources to help you succeed.
• Competitive compensation.
• 401(k) with company match and profit sharing.
• Paid holidays and generous paid time off.
• Tuition reimbursement.
• Paid community volunteer opportunities.
• Comprehensive health, dental, and vision insurance.
• Access to our on-site fitness center.

Move Up your career at IHMVCU with this great opportunity!

Physical Requirements

• Sitting: Sedentary work involves sitting most of the time. Jobs are sedentary if walking and standing are required only occasionally, and all other sedentary criteria are met.
• Talking: Expressing or exchanging ideas by means of the spoken word; those activities where detailed or important spoken instructions must be conveyed to other workers accurately, loudly, or quickly.
• Hearing: Perceiving the nature of sounds at normal speaking levels with or without correction and having the ability to receive detailed information through oral communication and making fine discriminations in sound.
• Finger, handle, touch: Picking, pinching, typing or otherwise working, primarily with fingers rather than with whole hand or arm as in handling. Applying pressure to an object with the fingers and palm.
• Lifting Demands: Up to 10 lbs.
• Visual acuity to do things such as: preparing and analyzing data and figures; transcribing; viewing a computer terminal; extensive reading.