Recovery Specialist

Overview:

The Recovery Specialist 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. Establishes and follows up on repayment schedules on accounts where applicable for debt repayment based on member financial situations. Conducts initial reviews of charged- off consumer loan losses to identify potential for assignment to outside counsel, repossession, collection agency, or post judgment recovery.

• Work within their team and have a direct impact on their tasks.
• 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.
• Utilizes credit reports and skip tracing tools when needed to locate customers and update account information, when applicable.
• Assesses charged-off consumer loan losses to evaluate accounts with the Sr Recovery Specialist for potential assignment to outside counsel, repossession, or collection agency.
• Coordinates reporting to credit bureaus, Chex-Systems, and appropriate parties on account updates and settlement arrangements.
• Communicates and negotiates payment agreements 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.

Education

Min/Preferred: Preferred

Education Level: 2 Year / Associate Degree

Description:

Experience

Minimum Years of Experience: 3

Preferred Years of Experience: 5

Comments: 3-5 years of collections experience

Knowledge, Skills & Ability

• Learn and discover existing tools and processes to apply them along with their academic knowledge to achieve simple tasks.
• Basic 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.

Practice open Communication with all levels;

Be Accountable by taking ownership of customer issues and responsibility for ones actions;

Foster Teamwork by cooperating and collaborating with other employees;

Seek ways to make the workplace Fun for oneself & others;

Conduct oneself with Integrity by being honest, trustworthy and ethical in all work activities and interactions;

Work with a Service Orientation by having a genuine concern for the needs of ones customers and by being friendly, professional and following through on commitments; and

Demonstrate Humility in all interactions and remember to leave ones ego at the door when one arrives to work.

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.