Credit Resolutions Support Specialist

Silver State Schools Credit Union•Paradise, NV

21d•Onsite

About The Position

The Credit Resolutions Support Specialist supports all functions within the Credit Resolutions Department to minimize potential and realized loan losses through proactive loss mitigation, collection, recovery, repossession, and legal management activities. This position provides cross-functional support to specialized areas including collections, bankruptcy, loss mitigation, real estate collections and foreclosures, post charge-off recovery, repossession and collateral remarketing. The Specialist works directly with members, attorneys, and third-party vendors to achieve timely and mutually beneficial resolutions while ensuring compliance with federal and state regulations. The roles primary objective is to safeguard the Credit Union's financial interests while helping members navigate financial hardship with professionalism, empathy, and integrity.

Requirements

Collections & Recovery: In-depth knowledge of collection procedures, skip tracing; recovery laws, collateral liquidation processes, and all applicable federal and state regulations.
Credit Union Products & Policies: Strong understanding of loan products, servicing systems, policies, and enforcement practices.
Deposit Accounts: Working knowledge of deposit programs and account ownership structures, and offset rights.
Insurance: Familiarity with insurance claim process related to secured collateral.
Legal Documentation & Terminology: Proficiency with legal terminology, documentation and processes related to collections, repossessions, bankruptcy, litigation and recovery. Familiarity with legal documents such as judgments, garnishments, liens, writs, and subpoenas. Basic knowledge of business law, particularly commercial paper.
Court Systems & Legal Processes:
Solid understanding of the legal and judicial systems, including Small Claims, Civil, Circuit, District, and Bankruptcy Courts. Proficiency in interpreting equity calculations, lien priority, and redemption rights.
A High school diploma or general education degree (GED
Minimum of three years of experience in collections, default servicing, loss mitigation, bankruptcy, or recovery within a financial institution.
Knowledge of consumer, mortgage, and commercial lending practices.

Nice To Haves

Experience with default management systems, collections software, and Microsoft Office applications preferred.

Responsibilities

Provide back-up support for delinquent and at-risk loan portfolios including consumer, mortgage, and commercial loans.
Underwrite and process member workout solutions such as modifications, forbearances, short sales, deed in lieu, and repayment plans.
Communicate with members to identify and recommend appropriate solutions that prevent foreclosure or charge-off.
Coordinate foreclosure and real estate owned (OREO) activities, ensuring compliance with regulatory, investor and policy requirements.
Manage and maintain accurate documentation, tracking, and reporting for all loss mitigation activities.
Administer PMI delinquency reporting and claims and review delinquency property tax notices for follow up action.
Manage OREO portfolio preservation, valuation and property disposition.
Provide back-up support all aspects of the bankruptcy process, including validation, proof of claims, reaffirmation agreements, and related court documentation.
Communicate with legal counsel to ensure timely filings, responses, and case updates.
Represent the Credit Union in small claims, civil, or bankruptcy hearings as required.
Assist with the preparation and execution of legal documents such as judgements, liens, garnishments and writs of execution.
Ensure adherence to all applicable collection and bankruptcy laws, including FDCPA, CFPB, RESPA, ECOA, FCRA, and FACTA.
Support repossession processes for consumer and business collateral, ensuring adherence to legal, policy, and compliance standards.
Coordinate with recovery agents and remarketing vendors to secure, liquidate and reconcile collateral efficiently.
Assist with charge-off recovery actions, settlements, repayment plans and tracking of post-judgment accounts.
Manage insurance claims, deficiency balances, reinstatement/redemption requests and post-charge off recoveries through negotiation and structured repayment arrangement.
Oversee vendor performance, licensing, and compliance for repossession and remarketing partners.
Maintain adherence with all federal and state lending, servicing, and collections regulations.
Manage Metro 2 Credit Reporting standards for accuracy and consistency.
Prepare monthly reports on delinquency, charge-offs, recoveries, and potential losses.
Reconcile legal and recovery-related expenses and track departmental performance metrics.
Update departmental procedures and documentation to reflect best practices and regulatory updates.
Provide empathetic, professional assistance to members facing financial challenges.
Offer financial counseling, repayment guidance, and education on credit and budgeting.
Ensure all member communications are accurate, timely, and thoroughly documented.
Uphold the Credit Union's service commitment to exceptional service and ethical conduct in all interactions.
Cross-Train and provide back-up support for all Credit Resolutions functions including collections, legal, recovery, repossession, remarketing and bankruptcy desks.
Collaborate with internal departments such as Loan Servicing, Accounting, and Legal to resolve issues efficiently.
Identify and recommend process improvements to enhance member experience and recovery outcomes.
Participate in departmental initiatives and contribute to the achievement of team goals.
Perform other related duties or special projects as assigned by management to support the overall success of the Credit Resolutions Department and the Credit Union.