Recovery Specialist Sr-Hybrid

Logix-Federal-Credit-Union; California (MO); On-site; USD 42,000 - 63,000; Full time

Job summary

Logix Federal Credit Union is seeking a Recovery Specialist Sr. to recover charged-off consumer loan losses and negotiate repayment plans. The role involves locating members, negotiating settlements, and coordinating with external parties as needed.

The position requires 6–8 years in collections, knowledge of FDCPA, and experience with credit bureau reporting. A bachelor’s degree is preferred, and prior repossession experience is a plus.

Qualifications

• Bachelor's degree preferred.
• 6-8 years of collections experience.
• At least 1 year of repossession experience preferred.
• Knowledge of the FDCPA and legal aspects of collection.
• Experience with credit bureaus and Chex-Systems reporting.

Responsibilities

• Contacts members of charged-off loans to recover dollars and mitigate losses.
• Establishes repayment schedules and negotiates settlement arrangements.
• Utilizes credit reports and skip tracing tools to locate customers.
• Assesses charged-off losses for potential assignment to outside counsel, repossession, or collection agency.
• Coordinates reporting to credit bureaus and Chex-Systems.
• Prepares forms and correspondence for collections purposes.
• Assists with answering general collection questions from members and staff.

Skills

Negotiation

FDCPA knowledge

Project leadership

MS Office

Education

Bachelor's degree

Tools

Online collection systems software

Credit bureaus reporting

Job description

Overview

The Recovery Specialist Sr. recovers charged-off consumer loan losses on behalf of Logix. Locates and contacts members whose accounts were previously charged-off and deemed uncollectable to attempt to make arrangements for repayment, including negotiating potential settlement agreements. Establishes and follows up on repayment schedules on accounts where applicable for debt repayment based on member financial situations, including negotiating potential lump sum settlement agreements. Evaluates charged- off consumer loan losses for potential assignment to outside counsel, repossession, collection agency, or post judgment recovery.

Responsibilities

• Contacts members of charged-off loans for the purpose of recovering charged-off dollars and mitigating losses.
• Establishes repayment schedules on accounts where applicable for debt repayment based on member financial situations, including negotiating potential lump sum settlement agreements.
• Utilizes credit reports and skip tracing tools when needed to locate customers and update account information, when applicable.
• Assesses charged-off consumer loan losses for collectability and evaluates accounts for potential assignment to outside counsel, repossession, or collection agency.
• Reviews and follows up on Impound and Lien Sale Notices on previously charged-off and unlocated collateral to determine whether value of vehicle exceed fees for recovery and assigns to repossession desk, if applicable.
• Utilizes Charged-off Member Collateral report to locate previously charged-off unlocated collateral and/or members.
• Assists with locating member employment information and assets for post judgment recovery.
• Assists the Manager in assigning accounts to collection agencies and/or external legal counsels; provides tracking reports to assist in monitoring recovery progress.
• Prepares, gathers and organizes post charge-off account file information in preparation for asset sales.
• Coordinates reporting to credit bureaus, Chex-Systems, and appropriate parties on account updates and settlement arrangements.
• Communicates and negotiates settlement and payment agreement within established guidelines; adhere to all pertinent federal and state regulations at all time.
• Assists in developing, implementing, and maintaining effective operational procedures to maximize efficiency and quality of work to provide consistent quality service to members.
• Coordinates, monitors, and maintains effective collection procedures.
• Assists with answering general collection questions from members and staff regarding loan payments and past due notices.
• Prepares forms, form letters, reports, and correspondence for collections purposes.
• Reviews requests for credit information and for corrections on credit files of members.
• Reviews accounts assigned to collectors where action beyond routine collection procedures must be approved.
• Works with peers and leadership from different functions and has an impact across the department.

Qualifications

Education

• Min/Preferred: Preferred
• Education Level: 4 Year / Bachelors Degree
• Description: Bachelors’ degree preferred.

Experience

• Minimum Years of Experience: 6
• Preferred Years of Experience: 8
• Comments:
• 6-8 years of collections experience
• At least 1 year of repossession experience preferred

Knowledge, Skills & Ability

• Knowledge of the legal aspects of collection, bankruptcy and repossession; knowledge of the Fair Debt Collection Practices Act.
• Knowledge of online collection systems software and the Microsoft suite of office products.
• Own and solve complex tasks that are part of a large project and lead small projects on their own.

Disclaimer

Logix Federal Credit Union is an equal opportunity employer that does not discriminate in employment opportunities or practices on the basis of race, religion, color, sex, sexual orientation, gender identity, national origin, protected veteran or disability status, or any other status protected by law.

Pay Range

USD $30.71 - USD $46.06 /Hr.

Base Pay