Fraud & Recovery Specialist

Partnership Financial Credit Union•Morton Grove, IL

17h

About The Position

The Fraud & Recovery Specialist is responsible for the administration of all general recovery duties for the organization. The responsibilities of the Fraud & Recovery Specialist position will include communication with members on past due accounts. Must have a desire to build relationships and communicate with our members to ensure proper payments on a timely basis. Under direct supervision of the EVP Lending, the Fraud & Recovery Specialist is responsible for performing administrative tasks within the organization including but not limited to recovery efforts, preparing and filing required documents, handling bankruptcy correspondence and communication with bankruptcy courts, trustees and attorneys. This individual will also be responsible for handling Credit Bureau disputes, fraud processing and third-party collection tracking. Administration and loan file maintenance. Process changes when received, review and enter into the system. Review the validity of date changes when requested to change a date on a loan. AFT Exception Reporting - Download the daily Automatic Funds Transfer exception report for Lending team to work. Follow up on any transfers that show up multiple days. Handle payment returns - reach out to members when their payments by ACH or check are returned. Download delinquency reports - On a weekly basis download Visa and Consumer delinquency reports. Collect on Delinquent Accounts - Collection of any and all delinquent accounts, track and collect accordingly. Correspond with members regarding overdue accounts by phone, email, fax, and mail. Referrals to Collections Agency- Any uncollectable loans, not filed under bankruptcy protection, to be charged off and referred to collection agency. Upload the required information into the agency's online portal. Handle inbound calls, building strong member relationships, and offering innovative solutions to meet member needs. Work with Fraud Investigations and various business units to incorporate departmental reporting into the fraud monitoring system. Create standardized reporting templates for fraud investigations to streamline documentation. Supports fraud detection efforts by reviewing alerts and analyzing basic reports to identify unusual activity. Documentation of fraud findings and assisting in case creation and trackers within our CU Answers software. Support the Operations team by gathering and organizing documentation for fraud investigations. Collection of documents for subpoenas and search warrants as directed. Place delinquent member deposit accounts on ChexSystems with approval from management and/or make recommendations to management. Collect on Negative Shares not protected by bankruptcy filing. Maintain the core processing charge off system to reflect all loans approved for charge off are charged off in the core system. Update tracking spreadsheet for 5300 report for all YTD charge offs and bankruptcies. Monitor and Access any Bankruptcy filings and supporting documentation in PACER system. Complete and file proof of claims forms for Bankruptcy. Complete and mail all re-affirmation agreement and paperwork for bankruptcy. The Original agreements mailed to the filing Attorney and copy to member. Record member information within Credit Union's core system regarding reason for delinquency, financial status, collection efforts or any system changes to applicable accounts. Prepare and recommend files for repossession, legal, charge-off or for third party collection referral. Process transactions including payments by mail and phone, mail items, levies, garnishments, and other related tasks. Accurately and efficiently research transactions, process incoming returned checks and follow up on any necessary collection activities. Mail notices and letters to members to encourage payment of delinquent accounts. Review and manage credit report disputes and direct written disputes received by mail. Supports department and manager in daily and monthly reconciliation and reporting processes. Review and post hold on accounts as well as post remittances for garnishments, levies and tax levies served on member's accounts. Assist in payment processing on members' accounts from the Bankruptcy Courts and Trustee as well as payments received on Charged-off loans. Ensures full compliance with loan bankruptcy regulations. Monitors accounts throughout the loan bankruptcy process and contacts appropriate party when necessary. Verifies the bankruptcy is secured and acquires a copy of the proposed Chapter 13 Plan on all secured accounts. Assist with the collection of Insurance Certification to ensure collateral assets are properly insured Other duties as assigned.

Requirements

High School Diploma or equivalent job-related experience providing the necessary knowledge, skills and abilities to successfully perform the responsibilities of the role.
Minimum of two years of collections and fraud experience in banking/credit union preferred.
Experience in working with and assisting others in a professional setting.
Excellent problem-solving, time management, organizational, analytical, interpersonal, verbal and written communication skills.
The ability to multi-task, well organized, accurate and detail orientated.
Expert understanding of credit union or banking products and services. This includes PFCU's full deposit and lending product line, services, policies and procedures.
Results driven, goal and service oriented, self-motivated and able to work independently and as part of a team.
A professional demeanor, positive attitude and the willingness to advance.
Strong decision making and time management skills; the ability to manage multiple projects/duties.
Trustworthy with the ability to maintain highest level of integrity; bondable.
Expert in all PFCU's software applications including member and vendor facing applications.
Proficiency in Microsoft Office, specifically Word, Excel and Power Point.
Strong data entry skills with high accuracy.
Must be flexible regarding work schedule as evening hours may be necessary.
The Fraud and Recovery Specialist performs a major portion of his/her duties through verbal and written communications. It is critical that s/he possess the ability to communicate with clarity, while understanding and explaining complex situations to team members and outside contacts.
Accuracy is essential and s/he must possess the ability to proofread documentation and correspondence to ensure free of errors.
S/he will spend a good portion of the day seated at a workstation, but may also be mobile throughout the credit union for purposes of meetings, working with members and others, etc.
The ability to move or lift boxes and general office equipment if needed.
Must be able to Lift up to 15 pounds at times.
Able to travel as needed (to all PFCU offices).
Each employee is required to uphold the Credit Union's compliance with all policies, procedures and required regulations including the Bank Secrecy Act and our Anti-Money Laundering policy.

Responsibilities

Communication with members on past due accounts
Recovery efforts
Preparing and filing required documents
Handling bankruptcy correspondence and communication with bankruptcy courts, trustees and attorneys
Handling Credit Bureau disputes
Fraud processing and third-party collection tracking
Administration and loan file maintenance
AFT Exception Reporting
Handle payment returns
Download delinquency reports
Collect on Delinquent Accounts
Correspond with members regarding overdue accounts by phone, email, fax, and mail
Referrals to Collections Agency
Handle inbound calls, building strong member relationships, and offering innovative solutions to meet member needs
Work with Fraud Investigations and various business units to incorporate departmental reporting into the fraud monitoring system
Create standardized reporting templates for fraud investigations to streamline documentation
Supports fraud detection efforts by reviewing alerts and analyzing basic reports to identify unusual activity
Documentation of fraud findings and assisting in case creation and trackers within our CU Answers software
Support the Operations team by gathering and organizing documentation for fraud investigations
Collection of documents for subpoenas and search warrants as directed
Place delinquent member deposit accounts on ChexSystems with approval from management and/or make recommendations to management
Collect on Negative Shares not protected by bankruptcy filing
Maintain the core processing charge off system to reflect all loans approved for charge off are charged off in the core system
Update tracking spreadsheet for 5300 report for all YTD charge offs and bankruptcies
Monitor and Access any Bankruptcy filings and supporting documentation in PACER system
Complete and file proof of claims forms for Bankruptcy
Complete and mail all re-affirmation agreement and paperwork for bankruptcy
Record member information within Credit Union's core system regarding reason for delinquency, financial status, collection efforts or any system changes to applicable accounts
Prepare and recommend files for repossession, legal, charge-off or for third party collection referral
Process transactions including payments by mail and phone, mail items, levies, garnishments, and other related tasks
Accurately and efficiently research transactions, process incoming returned checks and follow up on any necessary collection activities
Mail notices and letters to members to encourage payment of delinquent accounts
Review and manage credit report disputes and direct written disputes received by mail
Supports department and manager in daily and monthly reconciliation and reporting processes
Review and post hold on accounts as well as post remittances for garnishments, levies and tax levies served on member's accounts
Assist in payment processing on members' accounts from the Bankruptcy Courts and Trustee as well as payments received on Charged-off loans
Ensures full compliance with loan bankruptcy regulations
Monitors accounts throughout the loan bankruptcy process and contacts appropriate party when necessary
Verifies the bankruptcy is secured and acquires a copy of the proposed Chapter 13 Plan on all secured accounts
Assist with the collection of Insurance Certification to ensure collateral assets are properly insured
Other duties as assigned