30 days old

Asset Recovery Specialist

LIC - HQ
Long Island City, NY 11101
  • Job Code
    118924411

Overview

Assess the risk of lending activity, offset risk by ensuring the recovery of funds using collection letters, calls and skip tracing to resolve delinquent accounts and mitigate losses in order to contribute to the financial soundness of UNFCU.



Responsibilities

  • Manages delinquency by monitoring 60-180 accounts daily to reduce delinquency and applies funds to delinquent accounts; determines need for repossession/foreclosure and makes appropriate recommendations to manager; utilizes online collection systems and documents all collection efforts and telephone calls; removes limits and/or places blocks on Visas and Lines of Credit; and updates Visa default rates.
  • Analyzes member account portfolios and prioritizes delinquent accounts; refers accounts to attorneys and monitors collection activity; monitors payroll allocations.
  • Communicates with members to notify them of past due loan payments in order to control delinquencies.
  • Arranges to dispose of collateral as directed by management and UNFCU policies, and notifies members of their financial responsibilities related to the disposal process.
  • Provides debt counseling and loan workouts to assist members in overcoming financial difficulties; negotiates and makes recommendations regarding loan workouts, deferments, and payment reductions; advises members on financial and debt management, instructs members on how to regain financial soundness while reducing debt and maintaining good credit history, and explains the implications of bankruptcy filing.
  • Determines the need for foreclosure/repossession and makes recommendations to manager based on cost of legal proceedings, degree of delinquency and members’ willingness to pay.
  • Provides courteous and professional service to UNFCU staff and members, and responds to member inquiries within 24 hours; provides training to colleagues as needed.
  • Reviews monthly delinquency reports with manager and makes recommendations regarding charge-offs; assists in the preparation of delinquent accounts for monthly delinquency reports and various other reports related to delinquency; and maintains records of all collection activity.
  • <br /><b>Overview</b><br/><br /><p style="margin: 0px;"><span style="font-family: arial, helvetica, sans-serif; font-size: 10pt;">Assess the risk of lending activity, offset risk by ensuring the recovery of funds using collection letters, calls and skip tracing to resolve delinquent accounts and mitigate losses in order to contribute to the financial soundness of UNFCU.</span></p><br /><br /><b>Responsibilities</b><br/><br <ul><li><span style="font-size: 10pt; font-family: arial, helvetica, sans-serif;">Manages delinquency by monitoring 60-180 accounts daily to reduce delinquency and applies funds to delinquent accounts; determines need for repossession/foreclosure and makes appropriate recommendations to manager; utilizes online collection systems and documents all collection efforts and telephone calls; removes limits and/or places blocks on Visas and Lines of Credit; and updates Visa default rates.</span></li><li><span style="font-family: arial, helvetica, sans-serif; font-size: 10pt;">Analyzes member account portfolios and prioritizes delinquent accounts; refers accounts to attorneys and monitors collection activity; monitors payroll allocations.</span></li><li><span style="font-size: 10pt; font-family: arial, helvetica, sans-serif;">Communicates with members to notify them of past due loan payments in order to control delinquencies.</span></li><li><span style="font-size: 10pt; font-family: arial, helvetica, sans-serif;">Arranges to dispose of collateral as directed by management and UNFCU policies, and notifies members of their financial responsibilities related to the disposal process.</span></li><li><span style="font-size: 10pt; font-family: arial, helvetica, sans-serif;">Provides debt counseling and loan workouts to assist members in overcoming financial difficulties; negotiates and makes recommendations regarding loan workouts, deferments, and payment reductions; advises members on financial and debt management, instructs members on how to regain financial soundness while reducing debt and maintaining good credit history, and explains the implications of bankruptcy filing.</span></li><li><span style="font-size: 10pt; font-family: arial, helvetica, sans-serif;">Determines the need for foreclosure/repossession and makes recommendations to manager based on cost of legal proceedings, degree of delinquency and members willingness to pay.</span></li><li><span style="font-family: arial, helvetica, sans-serif; font-size: 10pt;">Provides courteous and professional service to UNFCU staff and members, and responds to member inquiries within 24 hours; provides training to colleagues as needed. </span></li><li><span style="font-family: arial, helvetica, sans-serif; font-size: 10pt;">Reviews monthly delinquency reports with manager and makes recommendations regarding charge-offs; assists in the preparation of delinquent accounts for monthly delinquency reports and various other reports related to delinquency; and maintains records of all collection activity.</span></li></ul> <img src="https://analytics.click2apply.net/v/p7zGAjfDRwmnt2o5fdbe4"> <br/><br/><br /><b>Qualifications</b><br/><br /><p style="margin: 0px;"><span style="font-family: arial, helvetica, sans-serif; font-size: 10pt;"><strong>TYPE & AMOUNT OF EXPERIENCE:</strong></span></p><ul><li><span style="font-family: arial, helvetica, sans-serif; font-size: 10pt;">Bachelors degree and/or 4+ years of collections experience in a financial institution collecting on Auto, Visa, LOC, HELOC and Mortgages</span></li></ul><p style="margin-left: .75in;"><span style="font-family: arial, helvetica, sans-serif; font-size: 10pt;"> </span></p><p style="margin: 0px;"><span style="font-family: arial, helvetica, sans-serif; font-size: 10pt;"><strong>TECHNICAL COMPETENCIES:</strong></span></p><ul><li><span style="font-family: arial, helvetica, sans-serif; font-size: 10pt;">Clear understanding of loss prevention and delinquency management</span></li><li><span style="font-family: arial, helvetica, sans-serif; font-size: 10pt;">Knowledge of applicable federal and state regulations and laws</span></li><li><span style="font-family: arial, helvetica, sans-serif; font-size: 10pt;">Proficiency in Microsoft Office </span></li><li><span style="font-family: arial, helvetica, sans-serif; font-size: 10pt;">Good negotiation skills and creativity in reducing losses</span></li></ul><p style="margin: 0px;"><span style="font-family: arial, helvetica, sans-serif; font-size: 10pt;"><strong> </strong></span></p><p style="margin: 0px;"><span style="font-family: arial, helvetica, sans-serif; font-size: 10pt;"><strong>BEHAVIORAL COMPETENCIES:</strong></span></p><ul><li><span style="font-family: arial, helvetica, sans-serif; font-size: 10pt;">Ability to organize work and set priorities</span></li><li><span style="font-family: arial, helvetica, sans-serif; font-size: 10pt;">Ability to manage relationships at all levels throughout the organization and with credit union membership</span></li><li><span style="font-family: arial, helvetica, sans-serif; font-size: 10pt;">Ability to interpret documents and make sound decisions within limits of authority</span></li></ul><p style="margin-left: .75in;"><span style="font-family: arial, helvetica, sans-serif; font-size: 10pt;"> </span></p><p style="margin: 0px;"><span style="font-family: arial, helvetica, sans-serif; font-size: 10pt;"><strong>WORK ENVIRONMENT/CONDITIONS:</strong></span></p><ul><li><span style="font-family: arial, helvetica, sans-serif; font-size: 10pt;">Standard office conditions</span></li></ul><p style="margin: 0px;"> </p><p style="margin: 0px;"><span style="font-family: arial, helvetica, sans-serif; font-size: 10pt;"><em><span style="color: red;">In addition to any specific job requirements in connection with Bank Secrecy Act and/or OFAC (BSA), employee must (i) be aware of BSA matters commensurate with the position; (ii) report any suspicious activity to the manager or compliance department; and (iii) satisfactorily complete any required BSA training.</span></em></span></p><p>PI118924411</p>

    Categories

    Posted: 2020-03-11 Expires: 2020-04-11

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    Asset Recovery Specialist

    LIC - HQ
    Long Island City, NY 11101

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