Description

SCE Credit Union is dedicated to providing exceptional financial services to our members while fostering community growth and financial well-being. We are committed to integrity, innovation, and collaboration in all aspects of our operations.

Summary

We are currently seeking an experienced Asset Recovery Specialist to join our team. The primary responsibility of this role is to minimize losses to the Credit Union resulting from bankruptcy filings and legal actions. The Asset Recovery Specialist will undertake a variety of semi-routine duties of moderate complexity, including maintaining complex files, processing departmental documents, posting records, and creating correspondence and reports. Additionally, the role involves reviewing and monitoring delinquent accounts, initiating appropriate actions to recover assets in accordance with credit union policies and regulatory guidelines, sending follow-up letters, and accepting payments on certain accounts.

Schedule 

Monday through Friday, some Saturday shifts required each month. A hybrid remote work schedule is available after a period of training and onboarding is completed.

Language Skills

Bilingual (English/Spanish) skills preferred.

Essential Duties and Responsibilities

Bankruptcies

• Specialized collection of legal accounts, bankruptcies, and bankruptcy repossessions.

• Daily follow-up on assigned accounts in collection software, maintaining accurate records of collection activity.

• Evaluation of delinquent real estate loans and preparation of analysis for bankruptcy and legal accounts.

• Investigation of new bankruptcy filings for fraud and non-dischargeable actions.

• Preparation of complex correspondence to support the Credit Union's case in bankruptcy and legal actions.

Repossessions

• Negotiation of reaffirmations with member attorneys, preparation, and filing of reaffirmations with courts, and monitoring of payments applied to bankrupt loans.

• Coordination of repossessed vehicle transportation and notification, working with members for reinstatement and retention of collateral.

• Maintenance of current licenses, insurances, and bonds on each repossession agency according to state requirements.

Collections

• Negotiation of repayment plans, settlements, or restructuring options with members to resolve delinquencies and mitigate losses.

• Telephone collection of delinquent loans beyond 45 days past due accounts.

• Skip tracing to locate members for asset recovery.

• Provision of support to legal counsel in the preparation and execution of legal actions.

Small Claims and Civil Actions

• Preparation of small claims and civil actions, representing the Credit Union in such cases.

• Filing and completion of wage garnishments, asset searches as necessary, and monitoring of accounts to ensure judgment satisfaction.

Miscellaneous

• Filing of deceased creditor claims, compilation of reports as directed by management, processing of collection-related vendor invoices.

• Initiation of requests to correct payment errors.

• Compliance with all Credit Union policies and procedures, including those related to Bank Secrecy Act regulations and adherence to Fair Debt Collection Practices Laws.

Qualifications

To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed below are representative of the knowledge, skill, and/or ability required. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

Education and/or Experience

• High school diploma or general education degree (GED)

• Three or more years’ experience in asset recovery, collections, or debt management.

• Knowledge of relevant laws and regulations governing debt collection practices, such as Fair Debt Collection Practices Act (FDCPA), Fair Credit Reporting ACT (FCRA) and bankruptcy laws required.

Reasoning Ability

• Ability to apply common sense understanding to carry out instructions furnished in written, oral, or diagram form.  

• Identify opportunities for process improvements and recommend best practices to enhance the efficiency and effectiveness of asset recover operations.

Computer Skills

• Strong knowledge of Microsoft Office 365 products (Outlook, Word, Excel, Teams, etc.).

• Strong knowledge of Collection and skip tracing tools.

Other Skills and Abilities

• Excellent communication and negotiation and problems solving skills.

• Strong organizational and analytical skills.

• Ability to work as a team and under pressure.

• Ability to work independently, prioritize tasks, and meet deadlines in a fast-paced environment.

PHYSICAL DEMANDS

The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

• Can perform primarily sedentary work with limited physical exertion and occasional lifting of up to 10 lbs.

• Must be capable of climbing / descending stairs in an emergency.

• Must be able to operate routine office equipment including computer terminals and keyboards, telephones, copiers, facsimiles, and similar equipment.

• Must be able to routinely perform work on a computer for an average of 6-8 hours per day, when necessary.

• Must be able to work extended hours or travel off site whenever required or requested by management.

• Must be capable of regular, reliable, and timely attendance.

WORK ENVIRONMENT

The work environment characteristics described here are representative of those an employee encounters while performing the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

• The noise level in the work environment is usually moderate.