Bankruptcy Default Specialist
2 days ago
About the Position
The Bankruptcy Default Specialist plays a critical role in managing all bankruptcy activities for Default Management, ensuring compliance with statutory and regulatory requirements. This position is responsible for overseeing the entire bankruptcy process, from initial review to post-bankruptcy resolution, to improve timeline and attorney performance. The ideal candidate will establish a culture of team collaboration, accountability, and operational excellence, while maintaining a strong commitment to customer service and satisfaction.
Key Responsibilities
- Manage all accounts actively in bankruptcy and post-bankruptcy resolution.
- Review all open bankruptcies for agreeability to presented treatment of accounts, applicable objections, and ensure all court stipulated deadlines are met.
- Determine when collection efforts are not successful and consult with Default Manager before proceeding with foreclosure.
- Negotiate with debtors, attorneys, and creditors to reach settlements or repayment plans.
- Assist in developing strategies for resolving complex bankruptcy cases and minimizing financial losses.
- Maintain relationships with internal teams and individuals to ensure support of accounts impacted by bankruptcy.
- Stay current with pending regulatory and state law changes that could impact Bankruptcy processes.
- Prepare necessary documents for referral to foreclosure attorney. Communicate with attorneys, court-appointed trustees, and borrowers as necessary regarding bankruptcy activity.
- Develop and/or enhance, implement, and manage accurate and timely functional reporting.
- Manage day-to-day internal and external relationships, establishing and monitoring service delivery/productivity/quality standards.
- Provide recommendations to management on process improvement opportunities within the department and outside where applicable to minimize risk exposure.
- Follow departmental and organizational policies and procedures with strict adherence.
- Take ownership for actions, decisions, and results; openly accept feedback and demonstrate both the willingness and ability to improve.
Requirements
The ideal candidate will possess a minimum of 4-6 years of experience in bankruptcy management or managing/servicing non-performing loan accounts. They will demonstrate knowledge and experience with the loss management life cycle and state and federal laws related to non-performing loans. Strong analytical and organizational skills are essential, as well as experience developing and managing policies. Excellent verbal, written, presentation, and leadership skills are required, along with a strong service orientation. Proficiency in Microsoft Office and the Internet is also necessary. Ability to function in a Consumer business office environment and utilize standard office equipment is required. Travel may be required on occasion.
Preferred Qualifications
A BA/BS in Accounting, Finance, or Business Management is preferred. Collection experience at a Credit Union or other financial institution is also desirable. Experience or certification as a paralegal is a plus.
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