Asset Recovery Specialist

Lake Trust Credit Union • Brighton, MI

2d

About The Position

The Asset Recovery Specialist locates, reclaims, and manages missing, delinquent, or unclaimed financial and physical assets. The role includes skip-tracing, negotiating repayment or the return of assets, coordinating asset liquidation, and ensuring recovery activities comply with state and federal regulations. The specialist researches and resolves complex member service issues, loan and share questions, and complaints, while maintaining positive interactions with internal and external members.

The position is responsible for aspects of loan disposition and asset recovery, including charge-off processing, repossessed asset disposition, foreclosure and mobile-home recovery processes, post-charge-off recoveries, settlements, and related legal matters. The specialist reviews departmental reports for compliance, tracks loss-mitigation data, and helps identify training needs and operational efficiencies. The role uses creativity and latitude in applying credit union practices, troubleshoots system errors, and provides feedback to management.

Requirements

• High school diploma or GED.
• Six or more years of experience in collections or recovery.
• Strong analytical skills and the ability to think strategically and influence business decisions using appropriate, fact-based financial information.
• Strong written and oral communication skills.
• Ability to work independently and productively with minimal direct supervision.
• Proven ability to support a strong member or customer service culture.

Responsibilities

• Assist in reviewing charge-off loan recommendations and completing charge-off processing in the core system.
• Recommend the disposition of repossessed assets.
• Track monthly loss-mitigation data, identify training needs, and suggest or assist with implementing efficiencies for Account Resolution Team Members.
• Work assigned Loss Mitigation queues weekly by delegating and administering other real estate owned (OREO) by the credit union.
• Perform all aspects of the real estate foreclosure process.
• Review and determine when Mobile Home loans should be sent for legal action.
• Prepare a monthly Mobile Home spreadsheet for the accounting department.
• Oversee foreclosures or seized mobile homes and associated asset-recovery processes.
• Assist with managing post-charge-off loan recoveries, settlements, and legal matters to optimize recoveries.
• Locate hard-to-find debtors or hidden collateral using specialized databases and investigative techniques.
• Contact clients with delinquent accounts to negotiate repayment plans, loan modifications, or voluntary surrenders.
• Partner with external repossession agents, law enforcement, and legal teams to repossess and secure physical assets.
• Maintain precise interaction logs and ensure recovery steps comply with local and federal financial regulations.
• Prepare files for asset resale, charge-offs, or legal litigation, and report recovery metrics to management.
• Research and resolve complex member service problems, loan or share questions, and complaints, ensuring follow-up and member satisfaction.
• Troubleshoot system errors and provide feedback to management regarding system errors or member complaints.
• Review departmental reports to ensure compliance with rules and regulations.
• Perform other duties as required or assigned.

Benefits

• Financial wellbeing services.
• 401(k) matching with up to a 5% match.
• Reduced health insurance.
• Employee wellbeing services.
• DE&I initiatives.
• Work-life balance.
• Collaborative, positive work environment.
• Opportunities for diverse experiences and career advancement.

What This Job Offers

• Job Type: Full-time
• Career Level: Mid Level
• Education Level: High school or GED