Collateral Recovery Specialist

4 days ago

Raleigh, North Carolina, United States Local Government Federal Credit Union Full time
About the Role

Civic Culture is a values-driven organization that prioritizes the success and well-being of its employees. We believe in doing well by doing good and strive to create a dynamic workplace that fosters professional growth and individual development.

Job Summary

The Collateral Recovery Specialist is a critical role within our organization, responsible for managing and maintaining all activities related to exercising remedies to protect our security interest in collateral pledged in loan obligations. This position requires a strong understanding of policies and procedures specific to exercising our right to secure collateral on defaulted loans.

Key Responsibilities
  1. Ensure timely assignment and review of all recovery-eligible accounts assigned to Default Management.
  2. Manage activities related to collateral location identification and skip tracing, making data-driven decisions on collateral reconditioning.
  3. Ensure all notices to borrowers are sent timely and in compliance with state and federal law, and assist with escalated actions such as litigation in pursuit of timely collateral recovery.
  4. Maintain strategic knowledge of collateral types to maximize value based on condition, geographic location, and other factors.
  5. Maintain oversight of collateral insurance policies and claim types as it pertains to the recovery and recondition of collateral.
  6. Regularly communicate with Loss Mitigation team(s) to ensure all collateral recovery recommendations are reviewed and any collateral recovery strategies are actively being implemented.
  7. Ensure all proceeds from the disposition of collateral are applied accurately and timely.
  8. Hold vendor relationships accountable for timely response and progression of accounts assigned for recovery.
  9. Regularly review performance of collateral recovery agents to ensure practices are consistent with our values and policies.
  10. Maintain accurate documentation of collection activity records to ensure effective internal communication and legal processing.
  11. Provide a superior member experience by actively listening to and assessing the needs of the member, identifying and recommending solutions, and referring members to the appropriate person or department.
  12. Assist management with the development of departmental procedures to ensure that collection activities are handled in an effective, efficient, and consistent manner.
Requirements

To be successful in this role, you will need:

  1. Minimum 4-6 years' experience in collateral recovery.
  2. Excellent verbal, written, telephone, and interpersonal communication skills.
  3. Excellent organizational skills and attention to detail.
  4. Strong analytical and problem-solving skills.
  5. PC proficiency including Microsoft Office (Word, Excel, PowerPoint, Access, Outlook) and the Internet.
  6. Ability to function in a Consumer business office environment and utilize standard office equipment.
  7. Ability to lift a minimum of 25 lbs.
  8. Travel required on occasion.
Preferred Qualifications

We would like to see:

  1. BA/BS in Finance or Business Discipline.
  2. Previous financial institution work desired.
  3. Collection experience at a Credit Union or other financial institution.

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