Recovery Specialist

INOVA FEDERAL CREDIT UNION•Elkhart, IN

3d•Onsite

About The Position

This position will be responsible for recovery and collection efforts on charged-off accounts and negative shares. This position will be require the creation of a recovery program to increase recoveries on an annual basis. This is intended to be only an overview of primary responsibilities for this role. This is not a complete listing of role functions. All Team Members are responsible for assisting the organization with various tasks as directed by management. Special projects and activities may also be created where Team Member talents can best be utilized. A core part of this role is to assist other team members and INOVA Federal Credit Union achieve success. Training is essential to increase employee knowledge and competencies related to the job. In order to accommodate organizational goals, all employees will be required to assist new hires and other team members with training and development as needed.

Requirements

High school diploma
2 - 4 Years work experience in Collections and Recovery
Experience in repossessions, bankruptcy law, and federal and state regulations
Good writing and verbal communication skills
Good organization skills
Must have strong analytical and problem solving skills
Ability to work well under pressure and adhere to set deadlines
Ability to create and maintain spreadsheets and documents in Microsoft Excel and Word
Annual Compliance Requirements

Responsibilities

Review and document status of charged off accounts, negative share accounts and initiate telephone contact with members, attorneys and collection agencies
Establish and monitor payment plans and settlements
Review and prepare any accounts that should be turned over for legal action or handled by an outside collection agency
Take measures to locate members when necessary, utilizing skip tracing techniques
Maintain updated attorney log
Generate and send collection letters and adverse action letters
Maintain files, records and other electronic documents to provide a chronology of collection activity for charged off accounts and negative accounts, including providing reports to management
Create, generate and maintain weekly and monthly reports for management
Maintain Credit Union compliance with state and federal laws and regulations; these include, but are not limited to: bankruptcy law, debt collection and reporting and privacy law
Assist with department calls and emails
Responsible for adherence to Credit Union policies and procedures
Perform other duties and functions as assigned for the efficient and effective operation of the Credit Union