Bankruptcy Specialist II

State Employees' Credit Union • Wake Forest, NC

9d • Hybrid

About The Position

If you are motivated and believe in the credit union philosophy of "People Helping People," join our team! The Bankruptcy Specialist is responsible for the accurate and timely execution of day-to-day bankruptcy processes across the credit union's portfolio, including mortgages, HELOCs, consumer loans, and credit cards. This role ensures all required legal and operational tasks are completed in strict adherence to the U.S. Bankruptcy Code, internal policies, and regulatory guidelines to mitigate credit losses and maximize recovery. The specialist provides critical support to the Manager of Bankruptcy Operations by maintaining data integrity and ensuring compliant, efficient workflow execution Essential Responsibilities:

Requirements

• Bachelor’s degree in business administration, Legal Studies, or a related field required.
• Minimum 2-5 direct years of experience in financial operations, compliance administration, or legal/paralegal role specifically managing creditor bankruptcy cases preferably within mortgage and/or consumer lending environment.
• Working knowledge of the U.S. Bankruptcy Code (Chapters 7, 11, 13) and the legal framework governing creditor rights, the Automatic Stay, and secured debt.
• Attention to detail, demonstrated by experience in financial transaction processing, critical for managing strict court deadlines and ensuring the accuracy of financial and legal filings.
• Working knowledge of federal and state consumer financial protection laws relevant to Loss Mitigation and Loan Servicing including FDCPA, SCRA, and applicable CFPB regulations.
• Proficient computer skills, including experience with Microsoft applications, core servicing and collections software, reporting tools, and skilled in tracking data, reconciling payments, and performing financial analysis.
• Proven ability to manage financial and operational Key Performance Indicators (KPIs) such as proof of claim filing timeliness, reaffirmation rates and vendor performance adherence.
• Experienced written and verbal communication skills, with proven ability to draft clear, compliant documents and communicate effectively with trustees, external counsel, and members.

Nice To Haves

• Banking/Credit Union, Loan Servicing, Paralegal Certificate or specialized continuing legal education (CLE) credits focused on creditor bankruptcy law related Industry Certifications.
• Direct experience administering bankruptcy software (e.g., PACER, Epiq AACER) or using systems for document management (e.g., OnBase), default management (e.g., Default Manager), or core servicing (e.g., ICE/MSP, ALS, FDR).
• Prior experience with legal, financial, and procedural knowledge required to minimize risk in this specialized area.

Responsibilities

• Filings and Regulatory Compliance: Prepares, validates, and ensures the accurate and timely filing of legal documents, such as Proofs of Claim (POCs), Notice of Payment Changes and Reaffirmation Agreements across all loan types in compliance with the U.S. Bankruptcy Code, local court rules, and investor/insurer guidelines (e.g., Fannie Mae, Freddie Mac). Prepare necessary legal documentation, coordinate with credit union counsel and ensure timely filing with the court to secure debt repayment and maximize credit union recovery. (30%)
• Workflow & Case Management: Monitor the bankruptcy pipeline and case progression using default servicing systems and PACER/AACER to track key milestones, ensure adherence to legal timelines (e.g., stay relief, discharge), and support the timely movement of cases to resolution. (25%)
• Financial Reconciliation & Audit: Execute daily reconciliation of all financial transactions within the bankruptcy portfolio, including post-petition payments, fees, and escrow accounts. Document all actions to support internal and external audits and ensure data integrity. (15%)
• Internal & External Communication: Serve as a primary point of contact for external legal counsel, trustees and members on case-specific inquiries, ensuring prompt delivery of required loan documentation and timely follow-up to maintain efficient workflow and compliance. Ensure communications are professional, empathetic, and strictly compliant with the Automatic Stay provisions and FDCPA. (15%)
• System & Data Maintenance: Accurately and timely input and update critical bankruptcy information (e.g., case number, filing date, plan status, attorney information) into the servicing systems (e.g., ICE/MSP, Default Manager) to ensure all system records reflect the current legal status of the account. (10%)
• Policy Adherence & Process Improvement: Actively adhere to all departmental policies and procedures, identify potential workflow bottlenecks or process gaps, and recommend solutions to the Manager to improve efficiency, accuracy, and compliance controls. (5%)

What This Job Offers

• Job Type: Full-time
• Career Level: Mid Level