Loan Resolution Specialist-Hybrid

The Loan Resolution Specialist locates and contacts customers with high-risk loans during different stages of delinquency to attempt to secure payment, make repayment arrangements, including negotiating potential settlements or debt restructure. Responsible for Specialty Queues such as deficiency balances, bankruptcy discharge loans, business loans, accounts under Servicemembers’ Civil Relief Act (SCRA), etc. Assists members and internal customers with review and approval of Courtesy Pay limits in accordance with Policy and Procedure. Answers general collection questions from members and staff regarding loan payments and past due notices and assists with member escalations.

• Performs all stage delinquent collection activities of high-risk loans (consumer loans, home equity loans, and business loans).
• Monitor queue(s) daily to ensure that each account scheduled for contact is worked according to department procedures.
• Evaluates and makes recommendations for settlements, loan modifications, re-payment plans, and charge offs.
• Conducts investigations to locate members.
• Evaluates, makes recommendations, and monitors accounts for members under the protection of the Servicemembers’ Civil Relief Act (SCRA).
• Assesses accounts in which members have requested the Credit Union to “Cease and Desist” all collections efforts for collectability and evaluates for potential charge off.
• Performs collection activities on Secured Card/over the limit accounts and recommends evaluation for potential dispute or chargeback to Card Services Department.
• Performs collection activities on all delinquent employee loans.
• Assesses deficiency balance loans after the sale of repossessed assets for collectability and evaluates accounts for potential charge off.
• Contacts members with bankruptcy discharged, secured loans to inquire about their intentions on our collateral.
• Prepares and submits paperless repossession files when applicable.
• Prepares and submits bankruptcy discharged loans for charge off.
• Evaluates “escalated” impounds, stored vehicles, or vehicles in a repair shop for storage/repair fees, files opposition of lien sales (if applicable), negotiates fees (if applicable), prepares and submit file for repossession (if applicable).
• Assists with review and approvals of consumer loan extension agreements.
• Serves as liaison with external auditors.
• Cross-trains other internal department personnel.
• Keeps abreast of all relevant state and federal regulations and guidelines and trains Collections team members accordingly.
• Ensures appropriate notices are sent to members prior to cancellation of services and/or charge off.
• Prepares and submits paperless repossession files for voluntary vehicle surrenders and involuntary repossessions.
• Performs extensive skip work on delinquent loans in an effort to establish contact with members and resolve delinquency or verify collateral location.
• Reviews payment/transaction history for possible leads.
• Performs data reconciliation, balancing, and research, and statistical and monthly reports for Management and Accounting.
• Prepares forms, form letters, reports, and correspondence for collections purposes.
• Assists in developing, implementing, and maintaining effective operational procedures to maximize efficiency and quality of work to provide consistent quality service to members.
• Promotes and maintains a positive image of the Credit Union to assigned personnel, members, and the community.
• Provides input to manager for enhancing department, employee development, quality of work and service to members.
• Monitors department to ensure it is meeting and demonstrating compliance with standards set by all regulatory agencies and department policies.
• Responsible for keeping current on developments, litigation, and other areas that affect the collection process.
• Assists in conducting staff meetings to communicate new developments and general information.
• Works with peers and leadership from different functions and has an impact across the department.
• Assists with member escalations.
• Other duties may be assigned.

Education

• Min/Preferred: Preferred
• Education Level: 4 Year / Bachelors Degree     
• Description: Bachelors’ degree preferred.

Experience

• Minimum Years of Experience: 5-7 years
• Preferred Years of Experience:
• Comments: Minimum 7 years of relevant experience. Minimum 5 years of experience in repossession and backend collections.

Knowledge, Skills & Ability

• In depth knowledge of the legal aspects of collection, bankruptcy, probate, repossession, Servicemembers’ Relief Act, and the Fair Debt Collection Practices Act.
• Knowledge of online collection systems software and the Microsoft suite of office products.
• Own and solve complex tasks that are part of a large project and lead small projects on their own.

Disclaimer

Logix Federal Credit Union is an equal opportunity employer that does not discriminate in employment opportunities or practices on the basis of race, religion, color, sex, sexual orientation, gender identity, national origin, protected veteran or disability status, or any other status protected by law.