Bankruptcy Default Specialist

3 weeks ago

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

About the Role

The Bankruptcy Default Specialist plays a critical role in the Default Management team, providing direction and coordination of all bankruptcy activities in accordance with statutory compliance, regulatory compliance, and company guidelines. This position is responsible for managing all bankruptcy activities in accordance with established work rules, goals, and objectives to improve timeline and attorney performance.

Key Responsibilities

  1. Manage all accounts actively in bankruptcy and post-bankruptcy resolution.
  2. Review all open bankruptcies for agreeability to presented treatment of accounts, applicable objections, and ensure all court stipulated deadlines are met.
  3. Determine when collection efforts are not successful and consult with Default Manager before proceeding with foreclosure.
  4. Negotiate with debtors, attorneys, and creditors to reach settlements or repayment plans.
  5. Assist in developing strategies for resolving complex bankruptcy cases and minimizing financial losses.
  6. Maintain relationships with internal teams and individuals to ensure support of accounts impacted by bankruptcy.
  7. Stay current with pending regulatory and state law changes that could impact Bankruptcy processes.
  8. Prepare necessary documents for referral to foreclosure attorney. Communicate with attorneys, court-appointed trustees, and borrowers as necessary regarding bankruptcy activity.
  9. Develop and/or enhance, implement, and manage accurate and timely functional reporting.
  10. Manage day-to-day internal and external relationships, establishing and monitoring service delivery/productivity/quality standards.
  11. Provide recommendations to management on process improvement opportunities within the department and outside where applicable to minimize risk exposure.
  12. Follow departmental and organizational policies and procedures with strict adherence.
  13. Take ownership for actions, decisions, and results; openly accept feedback and demonstrate both the willingness and ability to improve.

Requirements

To be successful in this role, you will need:

  1. Minimum of 4-6 years of experience in bankruptcy management or managing/servicing non-performing loan accounts.
  2. Demonstrates knowledge and experience with the loss management life cycle and state and federal laws related to non-performing loans.
  3. Strong analytical and organizational skills.
  4. Experience developing and managing through policy.
  5. Excellent verbal, written, presentation, and leadership skills. Must possess a strong service orientation.
  6. PC proficient, including Microsoft Office (Word, Excel, PowerPoint, Access, Outlook), and the Internet.
  7. Ability to function in a Consumer business office environment and utilize standard office equipment, including but not limited to: PC, copier, telephone, etc.
  8. Ability to lift a minimum of 25 lbs. (file boxes, computer).
  9. Travel required on occasion.

Preferred Qualifications

The following qualifications are desirable:

  1. BA/BS in Accounting, Finance, or Business Management.
  2. Collection experience at a Credit Union or other financial institution.
  3. Experience or certification as a paralegal.

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