Collateral Recovery Specialist

2 days ago


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

The Collateral Recovery Specialist plays a critical role in protecting the Credit Union's security interest in collateral pledged in loan obligations. This position is responsible for managing and maintaining all activities related to exercising remedies 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, ensuring timely disposition and making data-driven decisions on collateral reconditioning.
  3. Communicate effectively with Loss Mitigation team(s) to ensure all collateral recovery recommendations are reviewed and implemented.
  4. Apply proceeds from the disposition of collateral accurately and timely.
  5. Hold vendor relationships accountable for timely response and progression of accounts assigned for recovery.
  6. Review performance of collateral recovery agents to ensure practices align with Credit Union values and policies.
  7. Maintain accurate documentation of collection activity records for effective internal communication and legal processing.
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. Strong analytical and problem-solving skills.
  4. PC proficiency, including Microsoft Office and the Internet.
  5. Ability to function in a Consumer business office environment and utilize standard office equipment.
  6. Ability to lift a minimum of 25 lbs.
Preferred Qualifications

While not required, a BA/BS in Finance or Business Discipline, previous financial institution work, and collection experience at a Credit Union or other financial institution are desirable.



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