Asset Quality & Recovery Specialist

Silver State Schools Credit Union•Paradise, NV

3d•$27 - $29•Onsite

About The Position

The Asset Quality & Recovery Specialist serves as a subject matter expert supporting all operational functions within the Credit Resolutions Department. This position provides advanced technical support across collections, bankruptcy administration, legal recovery actions, loss mitigation, foreclosure processes, repossession management, collateral liquidation, and post charge-off recovery activities. This role supports the management and resolution of delinquent and charged-off loan portfolios across consumer, real estate, and commercial lending segments. The Specialist evaluates complex delinquent and defaulted loan situations requiring analysis, negotiation, and strategic decision-making to minimize financial loss and protect the Credit Union's asset quality. The position operates with a high degree of independent judgment while collaborating with members, attorneys, courts, and third-party vendors to resolve high-risk credit situations in compliance with all applicable federal and state regulations. Through comprehensive knowledge of the default management lifecycle-from early-stage delinquency through legal recovery and asset liquidation-this position supports departmental continuity, assists with complex case resolution, and contributes directly to the Credit Union's financial stability and risk mitigation efforts. Decisions and recommendations made in this role directly influence delinquency levels, charge-off ratios, recovery outcomes, and overall asset quality.

Requirements

High school diploma required
Five (5) or more years of experience in default servicing, collections, loss mitigation, bankruptcy, or asset recovery within a financial institution.
Demonstrated experience managing complex delinquent loan portfolios, including real estate and consumer lending
Experience working with legal counsel, court systems, and third-party recovery vendors.
Comprehensive knowledge of default servicing practices including collections procedures, repossession laws, collateral liquidation, bankruptcy processes, foreclosure procedures, and post-judgment recovery actions.
Strong understanding of consumer, mortgage, and commercial lending practices, loan servicing systems, and Credit Union policies governing delinquency management and loss mitigation.
Proficiency in legal terminology, documentation, and court processes associated with bankruptcy, civil litigation, repossessions, liens, garnishments, judgments, and collateral recovery actions.
Working knowledge of Small Claims, Civil, District, Circuit, and Bankruptcy Court processes including lien priority, deficiency recovery, and redemption rights.
Understanding of credit bureau reporting standards including Metro 2 reporting guidelines and dispute resolution processes.

Nice To Haves

Associate's or Bachelor's degree in Business, Finance, or related field preferred.

Responsibilities

Manage and support delinquent and at-risk loan portfolios across consumer, real estate, and commercial lending segments to minimize loss exposure and protect asset quality.
Evaluate complex and high-risk delinquent loan scenarios and determine appropriate resolution strategies including repayment plans, loan modifications, forbearance agreements, short sales, deed-in-lieu arrangements, foreclosure alternatives, and charge-off recovery actions.
Analyze member financial situations and recommend solutions that reduce delinquency and mitigate potential losses.
Underwrite, structure, and administer member workout solutions in accordance with Credit Union policies, investor guidelines, and regulatory requirements.
Oversee and coordinate foreclosure proceedings and OREO activities, ensuring compliance with legal, regulatory, and investor requirements.
Administer and monitor PMI delinquency reporting, claims processing, and delinquent property tax tracking to ensure timely risk mitigation.
Manage OREO assets including preservation, valuation, marketing, and disposition in coordination with approved vendors.
Administer and manage all phases of the bankruptcy lifecycle including case validation, proof of claim preparation, reaffirmation agreements, payment monitoring, and court documentation.
Direct case progression through coordination with legal counsel to ensure timely filings, responses, and resolution of legal matters.
Prepare, review, and execute legal recovery documentation including judgments, liens, garnishments, and writs of execution.
Represent the Credit Union in legal proceedings including small claims, civil, and bankruptcy hearings as required.
Ensure compliance with all applicable federal and state regulations including FDCPA, CFPB, RESPA, ECOA, FCRA, FACTA, and applicable Nevada laws.
Oversee repossession activities for consumer and commercial collateral in accordance with legal and regulatory requirements.
Manage vendor relationships with recovery agents, auction partners, and remarketing vendors to ensure efficient collateral recovery and liquidation.
Evaluate collateral value, condition, lien position, and recovery potential to determine optimal disposition strategies.
Administer post-default recovery activities including insurance claims, reinstatements, redemptions, deficiency balances, and post charge-off collections.
Negotiate and structure repayment arrangements and settlement agreements to maximize recovery outcomes.
Ensure accuracy and integrity of credit bureau reporting in accordance with Metro 2 standards and regulatory requirements.
Monitor and enforce compliance with all applicable federal and state lending, servicing, and collections regulations.
Analyze and report on delinquency trends, charge-offs, recoveries, and potential loss exposure to support management decision-making.
Track and evaluate legal expenses, recovery costs, and vendor performance against departmental goals.
Develop and update departmental procedures to reflect regulatory changes and operational best practices.
Serve as a subject matter expert in bankruptcy, collections law, collateral recovery, and legal processes.
Provide cross-functional support across all default servicing areas to ensure operational continuity and consistent resolution strategies.
Review and provide guidance on complex, high-risk accounts to determine appropriate courses of action.
Support training and knowledge development within the department to strengthen team capabilities.
Collaborate with internal departments including Loan Servicing, Accounting, Compliance, and Legal to resolve complex issues and mitigate risk.
Engage directly with members to resolve complex financial situations while balancing member needs and Credit Union risk.
Communicate and negotiate resolution strategies in a clear, professional, and compliant manner.
Ensure thorough documentation of all member interactions in accordance with regulatory and internal requirements.
Perform additional duties and special projects as assigned to support departmental operations and the Credit Union's overall risk management and asset quality objectives.