Senior Recovery Litigation Specialist

1 month ago


Jacksonville, Florida, United States First Citizens Bank Full time
Overview

The Senior Recovery Resolution Specialist collects retail and business loans that have been placed in charge-off status using the tools at their disposal, including pre-suit negotiations, and filing and management of lawsuits as needed. This role will be focused on mitigating bank losses through effective negotiation, case management and sound judgment. On a routine basis the specialist may work directly with borrowers on repayment plans and settlements, management on case strategy and creation of action plans for delinquent loans, and with retained counsel on managing litigation. As the specialist becomes proficient they may provide training to new associates and participate in special projects to facilitate workflow and recovery goals of the larger operation. This position will be focused on litigation, both existing and potential matters ,driving those matters to resolution in a way that is cost effective and maximizes the banks recovery.

Responsibilities

Primary Responsibility

Legal Action - Assigns cases to attorneys when filing suits to obtain judgement or execute against an existing judgement on a borrower. Reviews documents provided by Bank or borrower's attorney to confirm accuracy and ability to file suit. Requests budgets from legal counsel. Reviews and responds to discovery. Reviews and evaluates settlement agreements. Updates internal systems on case progression.

Other Responsibilities

Collection - Coordinates loan portfolio collection efforts whether that be a repayment plan, settlement, or liquidation of collateral. Documents efforts and conversations in the event legal action is necessary. Engages and manages third party companies that collect on charged-off loans. Coordinates with third party agencies on the assignment, repossession, or liquidation of loan collateral. Maintains higher than average annual recovery goals.

Negotiation - Assists in the negotiation of new terms for borrower repayment. Works closely with borrowers or their attorneys on settlements, short sales, or deed in lieu of foreclosure to satisfy loan payments. Provides guidance to less experienced specialists on difficult negotiations.

Research - Determines borrowers' ability to pay prior to formulating a plan for collection. Reviews personal statements including tax returns and credit reports, and initiates contact with borrower to gather information on financial position.

Business Support - Provides training to new associates and supports management in their absence. Manages the department warehouse log in regards to the shipment and receiving of files.

Qualifications

Basic Qualifications:
  • Bachelor's Degree and 1 years of experience in Banking or Finance Collections OR High School Diploma or GED and 5 years of experience in Banking or Finance Collections
    Required Qualifications:
    • Prior litigation experience
    • Knowledge of the Fair Debt Collection Practices Act (FDCPA), Fair Credit Reporting Act (FCRA), Unfair, Deceptive, or Abusive Acts or Practices (UDAAP), and the Telephone Consumer Protection Act (TCPA)
    • Negotiating skills
    • Self-directed work ethic
    • Demonstrated ability to make important decisions in a work setting
      First Citizens benefits programs are designed to meet our associates where they are in life. Full-time associates (20+ hours) are offered a comprehensive benefits program, with customized offerings, including those designed to support families, however defined. More information regarding our benefits offerings can be found here.


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