Collateral Recovery Specialist

7 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 and compliant repossession of collateral, adhering to policies, procedures, and regulations.
  2. Manage collateral location identification, skip tracing, and inventory to ensure timely disposition and maximize value.
  3. Communicate effectively with Loss Mitigation teams to implement collateral recovery strategies and ensure accurate application of proceeds.
  4. Hold vendor relationships accountable for timely response and progression of assigned accounts.
  5. Regularly review performance of collateral recovery agents to ensure consistency with Credit Union values and policies.
  6. 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, 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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