Bankruptcy Manager

Credit Union of Texas•Allen, TX

11h

About The Position

The Bankruptcy Manager is responsible for the oversight, administration, and regulatory compliance of all bankruptcy accounts. This role ensures full adherence to NCUA regulations , the Federal Credit Union Act, U.S. Bankruptcy Code, and applicable state laws while minimizing institutional loss exposure and protecting member relationships when appropriate.

Requirements

Specific knowledge, skills, and abilities required for this position:
Strong understanding of: NCUA risk-based supervision framework Secured lending and collateral valuation
Ability to interpret legal filings and court documentation.
Strong analytical and reporting skills.
Excellent written communication for board and examiner reports.
Education : Bachelor’s degree in Business, Finance, or related field and/or equivalent experience in a credit union or banking environment.
Qualifications : Minimum 5–7 years of bankruptcy experience.
Minimum 3-5 years of leadership or supervisory experience.
Knowledge of foreclosure processes specific to Texas real property.
Familiarity with bankruptcy procedures as they relate to secured debt.
Strong negotiation skills.
advanced knowledge of loss mitigation strategies and mortgage servicing best practices.
Experience working with bankruptcy attorneys and foreclosure trustees.

Nice To Haves

Bilingual preferred (Spanish and English)

Responsibilities

Bankruptcy Portfolio Oversight
Manage all consumer and business bankruptcy accounts (Chapter 7, 11,12, 13).
Evaluate secured vs. unsecured exposure and collateral position risk.
Oversee reaffirmation agreement processes in accordance with regulatory standards.
Monitor trustee payments and repayment plans for Chapter 13 cases.
Ensure proper coding within the core system to prevent improper member contact.
Coordinate/recommend repossession, foreclosure, or recovery strategies in compliance with automatic stay provisions.
Develop bankruptcy strategy aligned with enterprise risk appetite
Analyze portfolio trends and recommend policy or underwriting adjustments
Partner with Lending to mitigate future bankruptcy exposure
Present quarterly portfolio insights to executive leadership
Accountability for bankruptcy-related net charge-offs
ROI analysis of reaffirmation vs. recovery actions
Coordinate with Mortgage Servicing on foreclosure timelines
Consult with Lending on high-risk underwriting trends
Regulatory & Compliance Oversight
Ensure compliance with: National Credit Union Administration (NCUA) Rules and Regulations Federal Credit Union Act S. Bankruptcy Code (Chapters 7, 11, 13) Federal Deposit Insurance Corporation guidelines (where applicable for comparative best practices) Consumer Financial Protection Bureau (CFPB) regulations Office of Foreign Assets Control (OFAC) requirements Fair Debt Collection Practices Act (FDCPA) State-specific bankruptcy and collection laws
Maintain examination-ready documentation for internal/external audits.
Ensure automatic stay compliance to prevent regulatory violations or penalties.
Review and approve proof of claim filings for accuracy and timeliness.
Monitor adherence to charge-off policies consistent with NCUA guidelines and GAAP.
Provide monthly reporting on bankruptcy trends, losses, and recovery ratios.
Risk Management & Internal Controls
Develop and maintain written bankruptcy procedures aligned with CUTX guidance.
Implement internal quality control reviews of bankruptcy handling.
Identify trends impacting delinquency, charge-offs, and net worth ratio.
Approval authority for legal strategy thresholds
Charge-off timing approval authority
Settlement authority limits
Escalation process for high-risk cases
Legal & Vendor Management
Serve as liaison between the credit union and outside bankruptcy counsel.
Review legal strategy for contested matters and adversary proceedings.
Approve legal invoices and monitor vendor performance metrics.
Coordinate court filings and ensure compliance with jurisdictional deadlines.
Leadership Responsibilities:
Performance management and development of Bankruptcy Specialists
Workforce planning and workload balancing
Training team on regulatory changes and legal updates
Creating a culture of compliance + member dignity
Succession planning
Evaluate automation opportunities within core/collections system
Improve tracking dashboards and reporting tools
Recommend workflow efficiencies
Lead system enhancement projects
Positions directly supervised : Bankruptcy Specialists