Recovery/Disposition Specialist

A+ Federal Credit Union; Austin (TX); On-site; USD 39,000 - 47,000; Full time

Job summary

A+ Federal Credit Union is seeking a Recovery/Disposition Specialist to assist in managing loan accounts while minimizing delinquency rates. The role requires a strong background in skip-tracing, negotiation skills, and knowledge of debt collection laws.

The ideal candidate must possess a high school diploma or G.E.D. and have prior experience in collections. This full-time position offers a competitive hourly wage of $20.99.

Qualifications

• Must have a high school diploma or G.E.D equivalent.
• A minimum of two years of experience in telephone collections within the consumer lending field.
• Strong understanding of recovery processes and debt collection laws.

Responsibilities

• Assist in the collection of Credit Union loan accounts.
• Handle the repossession, recovery, and remarketing process.
• Review and accept bids for auctioned collateral.

Skills

Skip-tracing

Negotiation skills

Organizational skills

Verbal and written communication

Education

High school diploma or G.E.D.

Two years of college

Two years experience in telephone collections

One to two years in collateral recovery

Tools

MS Outlook

Excel

Word

Job description

Job Type: Full-Time

Exemption Type: Non-Exempt

Wage Amount: $20.99 hourly minimum

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 be to provide outstanding service to internal members and, under general supervision, to assure collection of Credit Union loan accounts, minimize loan losses, and maintain a low delinquency rate to achieve maximum profitability.

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 internal and external resources to locate 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 sale 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 or 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 or deny payment, or decide if the credit union’s best interest is 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.

Miscellaneous Duties

• Accept inbound calls and 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.
• Strong skip‑tracing background.
• Working knowledge of debt collection procedures, laws, and guidelines of bankruptcy law and code, lending laws, and procedures. Knowledge 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 negotiation skills.
• Excellent organizational skills.
• Strong verbal and written communication skills.
• Ability to navigate between multiple browsers, tabs, windows, and instant messenger tools.
• Fluency in MS Outlook, Excel, and Word.
• Ability to work independently and in a team environment.
• Basic math/accounting skills and 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.

Desirable Traits

• Pleasant and professional appearance.
• Enjoys working with the public using a courteous professional approach.
• Flexible working hours.
• Dependable.
• Possesses decision‑making abilities.
• Versatile in all aspects of the Credit Union.

Physical Functions

• Must have the ability and 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‑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 the normal repossession process, including where the credit union may take a substantial loss; situations outside A+FCU policies and procedures.