LCR Counselor

Navy Federal•Pensacola, FL

4d•Onsite

About The Position

To recover consumer, credit card, and mortgage accounts charged against the Regular Reserve, security items, and accounts receivable items charged to Other Losses.

Requirements

Significant years of experience obtained in the collection of delinquent loans
Ability to independently apply credit and collection principles and practices to collect charged off loans, including enforced collection
Ability to quickly read, comprehend and analyze written material
Ability to exercise assertiveness, self-confidence and initiative
Ability to deal tactfully and effectively with individuals in difficult situations
Thorough knowledge of credit and collection laws
Effective interpersonal, verbal and written communication skills
Computer skills including familiarity with word processing and spreadsheet software

Nice To Haves

Thorough knowledge of NFCU policies, practices and procedures
Familiarity with the various automated collection systems utilized by NFCU

Responsibilities

Reviews and analyzes the information in various automated collection systems (e.g., collection notes, co-maker information, collateral and demographic data) and determines appropriate action to take to effect recovery.
Determines reason for non-payment, works with debtors, co-makers to establish an equitable repayment arrangement.
Counsels, advises, and assists debtors and co-makers in the handling of their financial affairs to enable them to repay NFCU.
Negotiates repayment with appropriate parties.
Corresponds with debtors using letters generated by the automated collection systems.
Provides information to Correspondence Branch for preparation of correspondence to debtors, co-makers, attorneys, etc., in an effort to collect debts.
Follows up on broken payment promises to ensure debtors adhere to their commitments.
Locates assets of debtors who refuse to make arrangements to repay NFCU.
Retains attorneys to obtain court judgment to seize assets and effect recovery.
Contacts attorneys to obtain updates on legal accounts and maintains a list of collection attorneys.
Recommends the repossession of collateral, release of titles and NFCU's lien.
Approves the seizure of funds in share accounts and settlement offers within authorized limits when it is in NFCU's best interest or recommends alternative action to upper management.
Maintains a chronological record of information developed and action taken on the automated collection systems.
Makes changes and updates to automated systems (e.g., debtor addresses, account status changes).
Resolves credit bureau disputes, assigns accounts to collection agencies and recommends the recall of accounts from agencies for reassignment to the LCR Counselor.
Reviews list of payments to ensure that the automated collection systems reflect the proper crediting of payment received from debtors.
Calculates finance charge, cost of collection, attorney's fees and the waiver of balances on settled accounts.
Assists the Data Control, General Accounting, Credit Card Support, and Credit Card Services Branches to balance the various automated collection systems with the charged-off accounts general ledgers.
Keeps informed on developments and changes in federal and state regulations, and DoD directives (e.g., legal precedents, invasion of privacy and harassment decisions, Regulation Z, the Uniform Commercial Code, and various state and federal truth-in-lending legislation).
Determines trends in charged-off loans and recommends changes in lending policies and operational procedures.
Acts as Custodian of the Records, signs affidavits, and appears as witness in courts throughout the United States.
Performs other duties as assigned or appropriate.