Hybrid Asset Recovery Specialist at Meritrust Credit Union

Description

Overview:

The Asset Recovery Associate I is responsible for the repossession process and asset management. This position also files damage claims on repossessed collateral, works with dealers on refunds, and represents the Credit Union in court cases that involve repossessed accounts or short sales.

Duties and Responsibilities:

The following are typical duties for this position.  These are not to be construed as exclusive or all-inclusive.  Other duties may be required and assigned.

• Complete all repossession procedures from order through liquidation of the asset, while maintaining acceptable turnaround time.
• Protect Credit Union assets when collateral is in jeopardy (i.e. tow notices, etc.).
• Advise members of options before and after repossession, and answer general collection questions.
• Work the repossession queue daily to assign repossessions to agents.
• Request repossession titles. Ensure titles are received and sent to proper auction facility.
• Post sale of collateral and send required notifications to members in a timely manner.
• Make recommendations for disposition and sale of repossessed vehicles and other collateral to the Director of Special Accounts and Special Accounts Manager.
• Evaluate vehicles to determine repairs or improvements that will increase their value. Log this information into the collection system.  File and follow up on insurance claims for damaged, repossessed collateral.
• Skip trace to increase collateral recovery.
• File and follow-up on dealer refunds on repossessed collateral.
• Prepare reports on a daily and/or monthly basis.
• Process and log all bills on repossessed accounts, and give to the Director of Special Accounts or Special Accounts Manager to approve.
• Handle vendor correspondence.
• Maintain confidentiality in all Credit Union and member matters.
• Follow safety and security rules and regulations.
• Present a positive image of the Credit Union to members and vendors through a professional appearance and courteous attitude.
• Comply with all federal, state, and organizational policies, procedures, and processes, including (but not limited to) the Bank Secrecy Act (BSA), Patriot Act, Office of Foreign Assets Control (OFAC), Federal Debt Collection Practices (FDCP),  Service members Civil Relief Act (SCRA), Unfair Deceptive or Abusive Acts and Practices (UDAAP), and robbery procedures.

Qualifications

Qualifications and Education:

• Excellent oral/written/telephone communication skills
• Proficient in use of a computer, typewriter, calculator, fax machine, and multi-line phone system
• General knowledge of Microsoft Word and Excel
• Knowledge of lending fundamentals and loan collection concepts and practices
• Able to perform minor math calculations and interpret financial data
• Knowledge of the legal aspects of collections, bankruptcy, repossession, skip tracing, small claims, and foreclosure procedures
• Knowledge of the Fair Debt Collection Practices Act, SCRA, Fair Credit Reporting Act, and bankruptcy laws
• Two years collection experience in a financial institution or legal office