Sr. Debt & Asset Recovery Specialist
About The Position
The company is looking for a motivated and experienced portfolio management professional skilled in mid-stage collections and asset recovery activities. The Sr. Debt and Asset Recovery Specialist responsibilities include coaching and mentoring team members, ensuring team compliance and adherence to defined quality standards/SOP’s, acting as subject matter expert in file reviews and escalations, collection of delinquent accounts through phone/written correspondence, skip-tracing, repossession requests/submissions, managing contracts out for repo, and submittal of legal recommendations as warranted. This role ensures the effective coordination of late-stage collections, asset recovery, and risk mitigation strategies. The ideal candidate must be positive, focused, a team player, and possess strong time management, multitasking, and negotiating skills. The incumbent accepts the responsibility for establishing and maintaining the internal control system associated with the essential duties and responsibilities of the functional areas that the incumbent manages.
Requirements
- Solid working knowledge of MS Excel and MS Word preferred
- 5 years collections, repossession, and workout experience (commercial preferred)
- 1-2 years of credit experience preferred but not required.
- College Degree preferred but not required.
- Basic knowledge of legal, collateral disposition, deficiency calculations preferred but not required.
- Leadership, supervisory, mentor experience preferred but not required.
- Strategic thinking and problem-solving
- Strong interpersonal and negotiation skills
- Risk assessment and decision-making
- Excellent communication and organizational skills
- Desire to work in a team environment
- Forward thinking/adaptability – must be able and willing to adapt; strive for process improvement
- Time management - the ability to organize and manage multiple priorities including workflows and queues
- Attention to detail
Nice To Haves
- Bilingual in English & Spanish a plus
Responsibilities
- Strive to mitigate loss and maximize recoveries through proactive management of assigned problem account queue, performing all collection and recovery activities timely and accurately
- Conduct extensive skip-tracing and work in conjunction with outside partners (repo and collections) in efforts to locate obligors, secure payment, and collateral
- Assume responsibility for all out for repossession accounts until collected current or default cured
- Assign accounts to our repo companies based on the best probability of recovery and reassign as necessary
- Support and assist supervisor in overseeing day-to-day departmental operations
- Lead training and development initiatives of the Debt & Asset Recovery Team
- Prepare and maintain pre-litigation files; manage proper escalation ensuring compliance with legal referral timelines
- Assist supervisor in call center platform; ensure proper workflow and reporting; establish dialer campaigns
- Conduct annual reviews on standard and critical service providers ensuring adequate insurance, license, bond info
- Meet required KPI productivity metrics, i.e., call volume levels, contacts made, payment promises secured, etc. Meet required criteria for call quality standards
- Actively monitor departmental dashboards and reports including call center platform, repo placements, legal recommendations, etc.
- Approve and process vendor invoices within defined approval limits
- Assist members of the team. Handle/resolve escalated problem accounts. Make recommendations for next steps including legal activity
- Assume ownership of accounts impacted by liens and impounds; track and ensure proper follow up/resolution
- Coordinate with Collections, Asset Management, and Legal to effectively utilize all resources to reach account resolution
- Document all interaction with customers and outside agencies to ensure tracking and reporting accuracy
- Make next-step recommendations to management team including litigation, abandonment, and charging off
- Seek workout and repayment opportunities with obligors; working with customers to restructure, reschedule, rewrite, or extend payments.
- Furnish proper customer facing written communications such as demand and notice of private sale.
- Conduct routine audits of repossession efforts; routinely seek updates from partners
- Ensure compliance with laws and internal policies
- Participate in continuous improvement initiatives for processes and policies
- Handle any miscellaneous duties as assigned.
Benefits
- Medical, Dental, and vision plans
- 401(k) and matching
- Paid Time Off
- Company Paid Life Insurance
- Employee Assistance Program
- Training and Development Opportunities
- Employee Discounts
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What This Job Offers
Job Type
Full-time
Career Level
Mid Level
Education Level
Associate degree
