Recovery Specialist II

Topside Federal Credit Union•Dahlgren, VA

2d•Hybrid

About The Position

The Recovery Specialist II independently manages moderately complex delinquent accounts and carries out recovery strategies to minimize losses. The role handles escalated collection activity—including repossessions, preliminary foreclosure work, and skip tracing—while exercising sound judgment in member negotiations and following applicable laws, regulations, and organizational policies. The specialist also serves as a dependable contributor and backup resource across recovery functions. Responsibilities include collecting delinquent accounts, pursuing payment arrangements, discussing reasons for continued delinquency with members, and recommending appropriate account-resolution options. The role manages repossessions through liquidation, coordinates vendors and collateral-related processes, handles required notices and title documentation, and pursues deficiency balances and other recovery options. It also supports mortgage collections and preliminary foreclosure activity, bankruptcy account maintenance, charge-offs, legal and compliance-related account issues, and the closure of delinquent credit lines and cards. The position may be eligible for a hybrid remote work arrangement. Work is primarily sedentary and performed indoors in a climate-controlled shared work area with minimal noise. The job requires routine computer and office-equipment use, occasional lifting of up to 10 pounds, and the ability to work extended hours or travel off site when required or requested by management. Basic automotive knowledge and the ability to operate a manual-transmission vehicle are needed for potential repossession activities.

Requirements

Six months to two years of similar or related experience, including time spent in preparatory positions.
High school degree or GED.
Basic automotive knowledge and the ability to operate a manual-transmission vehicle for potential asset repossession activities.
Ability to bend, sit, and stand for primarily sedentary work with limited physical exertion and occasional lifting of up to 10 pounds.
Ability to climb or descend stairs in an emergency situation.
Ability to operate routine office equipment, including computer terminals and keyboards, telephones, copiers, facsimiles, and calculators.
Ability to routinely work on a computer for an average of 6–8 hours per day when necessary.
Ability to perform job functions independently or with limited supervision and work effectively individually or as part of a team.
Ability to read and carry out written instructions, follow oral instructions, complete basic mathematical calculations, spell accurately, and understand computer basics.
Clear communication skills, including the ability to deliver information in a logical and understandable sequence.
Ability to deal calmly and professionally with people from diverse cultures and at different organizational levels, and to demonstrate discretion and high levels of member service.
Ability to work under deadline pressure while maintaining accuracy and quality, handle a fast pace, and manage multiple, simultaneous, and changing priorities.
Ability to exercise discretion with confidential internal and external matters.
Ability to engage in sensitive or highly confidential conversations with customers, staff, and outside vendors, including motivating, influencing, educating, or advising others on significant matters.

Nice To Haves

Proficiency in spoken Spanish is an asset.

Responsibilities

Understand and comply with the Fair Debt Collection Practices Act, applicable laws and regulations, and company policies.
Collect delinquent accounts by soliciting payment arrangements, interviewing members about continued delinquency, counseling members about financial obligations, offering alternatives, and taking appropriate resolution steps.
Recommend or pursue account-resolution actions, which may include loan modifications, loan workouts, repossession, legal action, or foreclosure.
Conduct skip tracing using available resources, including social media, to locate members.
Post loan payments.
Manage safe deposit box collections and mechanic and storage liens.
Monitor and collect delinquent mortgages and ensure required regulatory notices, including HUD and SCRA notices, are sent to borrowers.
Perform preliminary foreclosure activities, including ordering drive-by appraisals, researching property values and lien positions, and recommending foreclosure actions.
Manage the repossession lifecycle for defaulted loans, from initiation through liquidation, while complying with policies and regulations.
Secure and maintain collateral; coordinate with vendors; and oversee marketing and sale processes.
Track repossession expenses, reconcile accounts, and review general ledger activity for accuracy.
Handle required legal notices and title documentation, collect deficiency balances, and explore recovery options such as refunds.
Serve as a resource for Credit Union staff on collection accounts, bankruptcy accounts, legal levies, charge-offs, member fraud, accelerations, and OFAC disqualifications.
Help perform charge-off loan transactions when needed.
Monitor member bankruptcy filings and assist with account maintenance, court filings, and member or attorney correspondence as needed.
Maintain member files in good order and ensure they are imaged and indexed correctly, including repossession expenses and copies of required legal notices.
Work with third-party loan services regarding delinquent-account collections as required.
Review delinquent credit-line and credit-card accounts for closure under Credit Union policy.
Prepare written recommendations for account closure for submission to the Director of Risk.
Coordinate closure of open lines of credit, including member notification and adverse-action notices.
Work extended hours or travel off site when required or requested by management.
Maintain regular, reliable, and timely attendance.