Recovery/Disposition Specialist

Aplusfcu; Austin (TX); On-site; USD 45,000 - 60,000; Full time

Job summary

Aplusfcu is seeking a Recovery/Disposition Specialist in Austin, Texas. This role involves managing the collection of loan accounts, handling repossession, and providing excellent service to members. The ideal candidate will have experience in telephone collections and collateral recovery.

The position requires strong problem-solving skills, excellent communication, and the ability to work both independently and in a team. Candidates will also need a high school diploma or equivalent, with preferred college education and relevant experience.

Qualifications

• Thorough understanding of recovery/charge-off processes.
• Experience in telephone collections within the consumer lending field.
• Ability to work both independently and in a team.

Responsibilities

• Assist the Credit Union in ensuring timely collection of loan accounts.
• Manage repossession, recovery, and remarketing processes.
• Interact with members to collect payments and provide service.

Skills

Debt collection procedures

Problem-solving skills

Strong verbal and written communication

Organizational skills

Fluency in MS Outlook, Excel, and Word

Financial analysis skills

Education

High school diploma or G.E.D equivalent

Two years of college preferred

Two years’ experience in telephone collections

One to two years’ experience in collateral recovery

Job description

Recovery/Disposition Specialist

Our Collections Department is growing and we are in need of a Recovery/Disposition Specialist.

The primary purpose of this position is to assist the Credit Union in achieving its mission to be our member’s first choice as their partner to help them make informed financial decisions. Your role will provide outstanding service to internal members and, under general supervision and in accordance with established policies and procedures, assure collection of Credit Union loan accounts, minimize loan losses, and maintain low delinquency to achieve maximum profitability. Support a sales and service culture. Maintain a working knowledge of all services and operations of the credit union.

Essential Functions

Handle the repossession, recovery, and remarketing process.

Assign vehicles for repossession and follow up weekly for assignment updates.

Perform basic and advanced skip-tracing with the use of internal and external skip-tracing resources to assist in locating the collateral.

Generate and mail notices to borrowers in accordance with federal, state, and local laws.

Order titles, cancel and follow up on any add on products (service/warranty/GAP/etc.), verify invoices, and cut checks to repossession agencies/auctions.

Set floor prices based upon reviews of condition reports, NADA valuation, and/or similar auction sales prices and dealer recommendations. Ensure that collateral options match invoices from dealerships.

Determine if vehicle damage warrants reimbursement or repair by insurance companies; file damage claims with the borrower’s insurance or the CPI vendor. Approve/deny any inspections or repairs made by the auction.

Review, accept, or counter bids. Adjust floor prices, as needed, depending on the performance at the auction.

Receive all tow and impound notices. Contact members to determine their intent with the impounded collateral and collect payments as needed. Determine if there are outstanding repair invoices, approve/deny payment, or determine if it is in the credit union’s best interest to negotiate sale or abandon the collateral.

Submit recommendations for account placement with third party collection agencies or attorney firms.

Review the members’ current financial situations and work with them to offer repayment or loan modification options based upon their financial ability to repay the remaining loan balances.

Work with legal counsel and law enforcement agencies as needed.

• Accept inbound calls/correspondence and follow up in a timely manner.
• Assist with the call queue during high-volume periods.
• Alert management of potential risk exposure.
• Other job duties as assigned.

Education and Experience

• High school diploma or G.E.D equivalent required
• Two years of college preferred
• Two years’ experience in telephone collections within the consumer lending field required
• One to two years’ experience in collateral recovery and the sale of various types of collateral preferred.

Knowledge, Skills & Abilities

• Thorough understanding of the recovery/charge-off processes.
• Working knowledge of debt collection procedures, laws and guidelines of bankruptcy law and code, lending laws and procedures. Knowledge, understanding, and enforcement of all applicable federal, state, and local laws and regulations that regulate the collection and repossession processes.
• Research, problem solving skills, and dealing with potential conflict.
• Maximizing returns on assets through discovery of optimal disposal channels.
• Excellent organizational skills.
• Strong verbal and written communication skills.
• Fluency in MS Outlook, Excel, and Word.
• Ability to work both independently and in a team environment.
• Basic math/accounting skills, financial analysis skills.
• Understanding of loan contracts including APR, amortization schedules, and simple interest calculations.
• Knowledgeable of Credit Union’s products and services.
• Ability to work in a paperless environment.
• Pleasant and professional appearance.
• Enjoys working with public using courteous professional approach.
• Dependable.
• Possess decision-making abilities.
• Versatile in all aspects of the Credit Union.

Physical Functions

• Must have the ability/stamina to work at least 40 hours a week
• Will frequently reach, feel, bend, stoop, carry, finely manipulate and key in data
• Must be able to communicate heavily through telephone, e-mail and in-person communications
• Must be able to engage in problem-solving skills to help identify and solve potential issues in the field

Types of Decisions made independently:

Payment arrangements in the collection of delinquent accounts, and extensions/skip-a-payments within the policies and procedures. Collateral recovery under normal conditions. Setting floor prices and accepting/declining auction bids and invoices.

Types of Decisions requiring supervisory approval:

Rewriting deficiency balance accounts, repossessions, and any legal action to be taken against members to recover debt or collateral. Repossessions that go outside of the normal repossession process, including where the credit union may take a substantial loss. Situations outside A+FCU policies and procedures.