Solutions Recovery Consultant

Centric is committed to creating, encouraging, and nurturing a safe and inclusive work environment. These same standards are expected of each of our employees. Centric values and celebrates diversity in the workplace and we welcome those with unique backgrounds, working styles, and skillsets. Our culture recognizes and embraces each person’s unique contribution to our success, and empowers our team to connect, belong and grow, so that we can better serve our members and community.

Role:

To minimize the credit union's losses and maximize its recoveries on charged-off loans and deposit accounts by researching charged-off loan and deposit accounts, by initiating and managing legal recovery actions, and by negotiating repayment and settlement agreements with members.

Essential Functions & Responsibilities:

• 25% - Contact members with charged-off Centric loans and deposit accounts for good faith payments and negotiated settlements in order to to recover Centric losses and restore members back to full membership privileges.
• 20% - Files and manages appropriate legal actions (i.e. Wage Garnishments, Property Seizures, succession levies, etc.) against borrowers to prevent and recover post charge-off loan account and deposit account losses.
• 10% - Works with external vendors such as collection attorneys, recovery agencies, insurance companies, storage lot companies, Justices of the peace, small claims court administrators, and private investigators and with the Solutions Team to coordinate recovery efforts.
• 10% - Skip traces delinquent members for new telephone, address, and employment information through the use of all available technologies for the purpose of re-establishing contact between the credit union and delinquent members to obtain timely payment arrangements or collateral location for the purposes of a timely repossession to minimize losses.
• 10% - Manages all risks to the credit union including, but not limited to, the following: member and community relations risk, credit risk, loan default risk, regulatory risk, legal & bankruptcy risk, collateral and loan loss risk, and reputational risk.
• 10% - Maintains accurate files and reports on all collection activities.
• 5% - Informs management of trends in loan underwriting and collections procedures contributing to delinquencies, lost collateral or title liens, and charge-offs.
• 5% - Mail notices, letters, and filings
• 5% - Performs other job-related duties as assigned.

Performance Measurements:

1. To research the cost, viability, potential returns, and measurement of specific recovery actions prior to recommending a course of action to management.
2. To mail correspondence to members and local courthouses and to maintain accurate and complete records of all collection and recovery activities.
3. To adhere to provisions as set forth in the Fair Debt Collection Practices Act (FDCPA), avoid unfair deceptive and abusive acts or practices (UDAAP’s) as outlined by the Consumer Financial Protection Bureau (CFPB), and insure collection activity is always within credit union policy and all relevant regulations.
4. To enter a concise, professional memo in the appropriate collections system of each contact or contact attempt made to members, relatives, or vendors.
5. To provide informed, professional assistance and support to all members and associates, to troubleshoot and resolve inquiries in a timely, friendly, and accurate manner, and escalate all member or employee complaints to a supervisor.
6. To monitor loan charge-off’s and recoveries closely and maintain an approved 12-month rolling, charge-off ratio.
7. To keep unrecovered collateral vehicles to a minimum through all means available and by sharing successful strategies with the Solutions Team and management.
8. To negotiate and secure payment or collateral on charged-off member loan and deposit accounts after the initiation of legal actions, repossessions, wage garnishments, property seizures, etc.
9. To maintain a dependable record of attendance and timeliness.
10. To provide friendly, professional, personal SERVICE to all members and greet each member by name.

Knowledge and Skills:

Experience: Four years to five years of similar or related experience.

Education: A high school education or GED.

Interpersonal Skills: Work involves much personal contact with others inside and/or outside the organization for the purpose of first-level conflict resolution, building relationships, and soliciting cooperation. Discussions involve a higher degree of confidentiality and discretion, requiring diplomacy and tact in communication.

Other Skills: Analytical and Reasoning, Research and Skip Tracing, Legal and Investigative Skills. The employee shall perform his/her duties and responsibilities in accordance with all applicable federal and state laws and regulations including, but not limited to, all federal and state laws regarding fair lending, discrimination in lending, and fair debt collection practices, as well as the rules and regulations of Credit Union.

Physical Requirements: Able to sit for long periods of time. Able to lift 20-50 lbs.

Work Environment: Able to work in an Office environment and occasionally work in the field to file paperwork at local courthouses or travel to potential locations where missing collateral are being stored.

This Job Description is not a complete statement of all duties and responsibilities comprising the position.