Loss Mitigation and Charge-Off Recovery Specialist – Direct Consumer Lending (Finance)
We are seeking a Loss Mitigation and Charge-Off Recovery Specialist for the Credit Solution Department.
The Loss Mitigation and Charge-Off Recovery Specialist is accountable for facilitating the mitigation of loan losses and defaults to Credit Human. The incumbent will coordinate the effective and efficient recovery of money owed on secured and unsecured charged off accounts, to eliminate and/or reduce loan default deficiency. This will include the negotiating settlement arrangements on deficiency balances, prior to and after legal proceedings. Additionally, the incumbent is accountable for recording and registering the necessary documentation to proceed with legal actions, to recover monies owed to the credit union, including abstract judgments, garnishments, and writs of execution.
If you have at least 5 years of collection, charge-off or consumer finance experience, you should apply right away!
Highlights:
- Maximize opportunities to achieve monthly charge-off recovery dollar objective as defined by manager
- Ensure all monies collected are promptly and accurately applied to a member's account
- Attain, negotiate and collect monthly settlements of charge-off balances objective as defined by management
- Ensure thorough monitoring and auditing of the outsourced/referred vendor or attorney legal collection efforts
- Effectively set expectations to results of the outsourced/referred legal proceedings such as Judgment filing, Writ of Executions, Writ of Sequestrations, charged off loan recoveries and collection efforts
- Maintain accurate and updated Charge-off and Recovery Database to ensure current information obtained for locating members and all property liens for judgments remain intact or are renewed until account balance has been paid or settled
Experience:
Required
- 5 years of collection and charge-off experience in auto, mortgage or consumer finance or comparable customer service experience working in a credit union, bank or other consumer finance company
- Thorough understanding and knowledge of collection and bankruptcy regulatory and judgment laws, practices and procedures governing collection practices in Texas, including knowledge of the Fair Debt Collection Act and collection law regulations
- Knowledge and prior experience of attending virtual/in person court hearings, mediation as needed for negotiation of settlements on Judgments
- Knowledge of how to audit and contribute to filing petitions or preparation of court documents to include Judgment filing, Writ of Executions, Writ of Sequestrations, charged off auto loan recoveries and collection efforts
- Ability and knowledge to evaluate, work and refer cases (charged-off loans) to attorney to pursue collection litigation in connection with the consumer debt
- Knowledge of quality and vendor or attorney management and thorough monitoring and auditing of the outsourced/referred vendor or attorney legal collection effort; to ensure the vendor or attorney are following compliance, FDCPA laws and regulations and risk mitigation efforts before or during collection efforts
- Knowledge and experience of contacting members with accounts in default to negotiate payment arrangements, settlements or retrieval of the collateral to satisfy the outstanding loan balance
Education:
Required
- High School Diploma or equivalent
Preferred
- College Degree
Skills & Knowledge:
Required
- Intermediate PC skills with knowledge of Microsoft Office Suite products: Word, Outlook and Excel
- Advanced communication skills with the ability to represent the Credit Union in court with the attorney if applicable.
- Work with approved legal representatives (attorneys and law firms), law enforcement agencies and the legal court system to recover monies owed on loan defaults and charge-off accounts.
- Detail oriented, organized and dependable
- Work independently and with other team members
- Analyze and present data to develop strategies
- Monitor and process correspondence and information from attorney, courts and member in regards to charged-off accounts in a timely manner
- Process settlements based on authority guidelines
- Skip tracing charged-off accounts to locate member and gain current information for legal action
- File petitions with appropriate courthouse for judgment to recover deficiency balance for charged-off account
Schedule: Monday-Friday, 8:30 am-5:30 pm
Level of Work: 2A
Salary Range: $25.25/hour to $26.95/hour
Flexibility: In office, on site; not remote or hybrid
Credit Human provides employees with many benefits from insurance coverage to college tuition reimbursement.
To get to know Credit Human and learn more about our benefits, visit our careers page at www.credithuman.com/careers.
Credit Human conducts employment background checks that may be used for decisions related to employment with Credit Human. Standard background checks performed on final candidates include NCUA Administrative and Prohibited Orders, ChexSystems, past employment verification, criminal history checks on convictions, and outstanding arrest warrants within the past seven years. Degree verifications are conducted if listed on the employment application. Additional background checks relevant to the role may include a motor vehicle registration check, credit check, and/or fingerprint card. Applicants must be currently authorized to work in the United States on a full-time basis.
Equal Opportunity Employer/Protected Veterans/Individuals with Disabilities
The contractor will not discharge or in any other manner discriminate against employees or applicants because they have inquired about, discussed, or disclosed their own pay or the pay of another employee or applicant. However, employees who have access to the compensation information of other employees or applicants as a part of their essential job functions cannot disclose the pay of other employees or applicants to individuals who do not otherwise have access to compensation information, unless the disclosure is (a) in response to a formal complaint or charge, (b) in furtherance of an investigation, proceeding, hearing, or action, including an investigation conducted by the employer, or (c) consistent with the contractor's legal duty to furnish information. 41 CFR 60-1.35(c)
Lending
