Senior Litigation Recovery Specialist

1 week ago

Atlantic Beach, Florida, United States First Citizens Bank Full time

Overview:


The Senior Litigation Recovery Specialist is responsible for the collection of retail and commercial loans that have entered charge-off status. This role utilizes various strategies, including pre-litigation negotiations and the initiation and oversight of legal proceedings when necessary.

The primary focus of this position is to minimize financial losses for the bank through effective negotiation, comprehensive case management, and prudent decision-making.

On a regular basis, the specialist may engage directly with borrowers to establish repayment plans and settlements, collaborate with management on case strategies, and work alongside retained legal counsel to oversee litigation processes.

As expertise is gained, the specialist may also mentor new team members and contribute to special initiatives aimed at enhancing workflow and achieving the recovery objectives of the broader organization.

This role emphasizes litigation, addressing both current and potential legal matters, and aims to resolve these issues in a manner that is cost-efficient while maximizing the bank's recovery.


Responsibilities:
Primary Responsibility

Legal Action - Assigns cases to attorneys for the purpose of filing lawsuits to secure judgments or enforce existing judgments against borrowers. Reviews documentation provided by the bank or the borrower's legal representatives to ensure accuracy and readiness for litigation. Requests financial estimates from legal counsel, reviews and responds to discovery requests, evaluates settlement proposals, and updates internal systems regarding case progress.



Other Responsibilities
Collection - Coordinates efforts to collect on loan portfolios, whether through repayment plans, settlements, or the liquidation of collateral. Documents all efforts and communications in anticipation of potential legal action. Engages and oversees third-party agencies involved in the collection of charged-off loans and coordinates with these agencies regarding the assignment, repossession, or liquidation of collateral assets. Maintains above-average annual recovery targets.
Negotiation - Aids in negotiating new repayment terms with borrowers.

Works closely with borrowers or their legal representatives on settlements, short sales, or deeds in lieu of foreclosure to resolve outstanding loan obligations.

Provides support and guidance to less experienced specialists during complex negotiations.
Research - Assesses borrowers' financial capabilities prior to developing a collection strategy.

Reviews personal financial statements, including tax returns and credit reports, and initiates contact with borrowers to gather pertinent financial information.

Business Support - Offers training to new team members and assists management in their absence. Manages the department's document tracking system concerning the shipment and receipt of files.


Qualifications:
Basic

Qualifications:
Bachelor's Degree with 1 year of experience in Recovery, Paralegal work, Collections, Customer Service, Operations, Bankruptcy, and/or Litigation OR a High School Diploma or GED with 5 years of experience in the aforementioned fields.
Required

Qualifications:
Prior experience in litigation
Familiarity with 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)
Strong negotiation skills
Self-motivated work ethic
Proven ability to make critical decisions in a professional environment
First Citizens benefits programs are tailored to support our associates at various life stages.

Full-time associates (20+ hours) are provided with a comprehensive benefits package, featuring customized options designed to support families, however defined.

More information regarding our benefits offerings can be found

here .

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