VyStar Credit Union
Asset & Loss Mitigation Specialist
VyStar Credit Union, Jacksonville, Florida, United States, 32290
At VyStar, we offer competitive pay, an excellent benefit package that includes a 401(k) Plan, an extensive paid technical and on-the-job training program, and tuition reimbursement--available to all full and part time employees. Part time positions start at a minimum of 30 hours per week.
We encourage you to become a part of VyStar Credit Union's family of employees.
Asset & Loss Mitigation Specialist ACCOUNTABILITY STATEMENT The incumbent ensures that VyStar’s interest in both collateralized and non-collateralized loans are protected against loss due to bankruptcy or other legal action involving our interest and typical collateralized loan default. The incumbent must be familiar with the Fair Debt Collection requirements along with Bankruptcy Legislation. The incumbent will thoroughly review all legal documentation regarding any loan account to protect VyStar’s interest and seek guidance from the Sr. Asset Remarketing & Loss Mitigation Coordinator as needed. The incumbent serving in this key role must present a professional image of VyStar as they manage vendor relationships with Repossession Agents and Bankruptcy attorneys. The specialist has authority within their role which requires strategic decision making. The use of this authority should result in an acceptable outcome for both our member and the credit union. Collateral recovery and liquidation is an integral part of the loss mitigation strategy for VyStar as it aids directly in delinquency and charge off financial reporting for one of the largest segments of the consumer loan portfolio. In addition to these duties the incumbent will manage a well-defined bankruptcy processing workflow in order to mitigate loss that may stem from litigation caused by possible bankruptcy regulation challenges. The incumbent is required to engage thoroughly in the current liquidation market and develop remarketing strategies that will provide VyStar the highest return for collateral securing consumer loans as well as stay abreast of regulatory and legislative changes that affect bankruptcy processing. Accuracy and timeliness for coding is essential to ensure our daily operations function within state and federal regulations governing bankrupt processing as well as the repossession and sale of collateral.
ESSENTIAL FUNCTIONS
Code all consumer loans, business credit cards, consumer credit cards and deposit accounts (business and consumer) in the core system within one business day of notice receipt to ensure proper tracking measures are in place and internal notification procedures adhere to local, state and federal bankruptcy statutes. Coding will ensure strict adherence by ceasing any and all written and verbal communication with bankrupt members.
Review bankruptcy notices in collaboration with attorneys, management, and members in order to take appropriate action within specified time frames conducive to the interest of VyStar. These notices would include but are not limited to petitions, claims, motions, affidavits, and schedules.
Provides a monthly summary report outlining petitions received, processing times and trends to management for review.
Recommends and prepares legal action in order to mitigate loss to the credit union.
Review chapter 13 plans to ensure VyStar receives equitable treatment with regard to repayment of secured debts; fair interest rate and file necessary claims on all debts owed to recover the maximum allowed.
Files, tracks, and maintains necessary documentation with the courts to protect VyStar’s interests. Conducts reviews of court ordered debt restructures to make certain the credit union is repaid in fairness.
Ensures that all post and pre-petition amounts due are received in accordance with all consumer loans included in chapter 11 and chapter 13 plans.
Stay informed of PACER filing requirements, use of PACER system and bankruptcy legislation.
Negotiate with members after discharge for the reestablishment of membership.
Prepares and assigns account collateral for recovery to 3rd party recovery agencies.
File appropriate request with the chapter 13 Trustee to access the Trustee site if available to monitor member’s payments.
Provides skip tracing support to repossession agents in an effort to expedite the recovery of collateral.
Processes the collateral recovered by the 3rd parties into core processing systems and stand-alone tracking systems on a daily basis.
Communicates and negotiates verbally and in writing with VyStar Credit Union Members in conjunction with the assignment and recovery of secured collateral.
Provides alternatives to our member’s in lieu of repossession where necessary.
Communicates verbally and in writing with 3rd party recovery agents, insurance companies, and law enforcement agencies.
Works with the Consumer Loan Hardship Specialists to coordinate the disposition of collateral in the event of a member’s passing.
Files for refunds on single interest coverage insurance, extended warranty policies, GAP insurance and any other type of asset account linked to repossessed collateral on a daily basis.
Contact and follow up with attorneys and Trustees as needed via telephone and written correspondence.
Liaison for VyStar employees to answer general bankruptcy questions.
Produce and maintain desktop procedures for the bankruptcy process.
Consistently adheres to VyStar core values and Code of Ethics.
Performs the activities and projects as assigned and requested by the Collections Operations Supervisor and Vice President of Consumer Loan Collections.
Applies Debits & Credits to the loan account in the core processing system and maintains records of expenses and payments received on all Repossessed accounts on a daily basis.
Advises the Member(s) (and any other required party) of the recovery of the collateral, the redemption period and the liquidation of the collateral in accordance to federal, state and local statutes on a daily basis.
Identify and make recommendations to Collection Operations Supervisor and Department Vice President regarding process improvements, quality service and increased efficiencies.
All employees and business units, as first line of defense, are expected to proactively help identify, assess, manage, and report risks within their domain of work.
Incumbent is expected to demonstrate each of the following VyStar Excellence behaviors in performing the duties and responsibilities of their job.
Focus
Focus your full attention by carefully listening to and observing your client or member.
Connect
Consistently be friendly and approachable. Demonstrate you care.
Understand
Listen empathetically and ask questions. (70%/30%)
Counsel
Recommend solutions based on your clients or member’s needs and objectives.
Advance
Ensure that member's expectations were exceeded.
JOB KNOWLEDGE, SKILLS & ABILITIES Required A minimum of three years’ experience in collections, collateral remarketing, or bankruptcy and legal processing within a financial environment is required.
Knowledge of Fair Dept Collections Practice Act (FDCPA), Federal Bankruptcy Laws, Fair Credit Reporting (FCRA), state laws governing repossession and liquidation of repossessed collateral and secondary market requirements for servicing derogatory loans.
Applicant must have positive, well-developed communication skills, both written and oral, be detail oriented, have good organizational and active listening skills, the ability to work in a fast paced environment, and proven ability to work with others.
Must have professional conduct and appearance and be self-motivated. Must work under the philosophy of “people helping people” and be able to communicate with members and legal council at all levels.
Applicants must demonstrate the qualities of a self-starter and one who follows through on all job duties.
Preferred Knowledge of Microsoft Word, Excel, Access, Adobe, LaserFiche, MVI Document Capture, D-ROM Viewer, Dealertrack Technologies, AutoIMS, PACER and chapter 13 network.
EDUCATION An associate’s degree or higher is the minimum educational requirement. Experience may be substituted for education on a 2 to 1 ratio. Continuing education via local conferences and workshops is required for updates on federal regulations. Specialized classes in bankruptcy will be required.
DISCLAIMERS AND WORK ENVIRONMENT/PHYSICAL DEMANDS Nothing in this position description is an implied contract for employment. The position description is intended to be an accurate account of the essential functions. The functions are not all encompassing and are subject to change at any time by management.
The work environment characteristics described are representative of those that an employee encounters while performing the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
As required or requested, may exert up to 20 pounds of force occasionally and/or a negligible amount of force constantly to lift, carry, push, pull or otherwise move objects.
VyStar Credit Union is not seeking outside assistance or accepting unsolicited resumes from staffing agencies or search firms for employment or contractor opportunities. Any resumes submitted by an outside vendor to any employee at VyStar via e-mail, internet, or directly to hiring managers without a valid written search agreement with the Talent Acquisition / HR department will be deemed the sole property of VyStar Credit Union.
No placement fee will be paid if a candidate is hired as a result of the referral, or through other means.
Thank you for your inquiry regarding our current job opening. Your resume will be carefully reviewed against the position requirements. Should your experience and skills match, you will be contacted by one of our Human Resources department staff members.
Thank you again for your interest in this position!
VyStar Credit Union Human Resources
#J-18808-Ljbffr
We encourage you to become a part of VyStar Credit Union's family of employees.
Asset & Loss Mitigation Specialist ACCOUNTABILITY STATEMENT The incumbent ensures that VyStar’s interest in both collateralized and non-collateralized loans are protected against loss due to bankruptcy or other legal action involving our interest and typical collateralized loan default. The incumbent must be familiar with the Fair Debt Collection requirements along with Bankruptcy Legislation. The incumbent will thoroughly review all legal documentation regarding any loan account to protect VyStar’s interest and seek guidance from the Sr. Asset Remarketing & Loss Mitigation Coordinator as needed. The incumbent serving in this key role must present a professional image of VyStar as they manage vendor relationships with Repossession Agents and Bankruptcy attorneys. The specialist has authority within their role which requires strategic decision making. The use of this authority should result in an acceptable outcome for both our member and the credit union. Collateral recovery and liquidation is an integral part of the loss mitigation strategy for VyStar as it aids directly in delinquency and charge off financial reporting for one of the largest segments of the consumer loan portfolio. In addition to these duties the incumbent will manage a well-defined bankruptcy processing workflow in order to mitigate loss that may stem from litigation caused by possible bankruptcy regulation challenges. The incumbent is required to engage thoroughly in the current liquidation market and develop remarketing strategies that will provide VyStar the highest return for collateral securing consumer loans as well as stay abreast of regulatory and legislative changes that affect bankruptcy processing. Accuracy and timeliness for coding is essential to ensure our daily operations function within state and federal regulations governing bankrupt processing as well as the repossession and sale of collateral.
ESSENTIAL FUNCTIONS
Code all consumer loans, business credit cards, consumer credit cards and deposit accounts (business and consumer) in the core system within one business day of notice receipt to ensure proper tracking measures are in place and internal notification procedures adhere to local, state and federal bankruptcy statutes. Coding will ensure strict adherence by ceasing any and all written and verbal communication with bankrupt members.
Review bankruptcy notices in collaboration with attorneys, management, and members in order to take appropriate action within specified time frames conducive to the interest of VyStar. These notices would include but are not limited to petitions, claims, motions, affidavits, and schedules.
Provides a monthly summary report outlining petitions received, processing times and trends to management for review.
Recommends and prepares legal action in order to mitigate loss to the credit union.
Review chapter 13 plans to ensure VyStar receives equitable treatment with regard to repayment of secured debts; fair interest rate and file necessary claims on all debts owed to recover the maximum allowed.
Files, tracks, and maintains necessary documentation with the courts to protect VyStar’s interests. Conducts reviews of court ordered debt restructures to make certain the credit union is repaid in fairness.
Ensures that all post and pre-petition amounts due are received in accordance with all consumer loans included in chapter 11 and chapter 13 plans.
Stay informed of PACER filing requirements, use of PACER system and bankruptcy legislation.
Negotiate with members after discharge for the reestablishment of membership.
Prepares and assigns account collateral for recovery to 3rd party recovery agencies.
File appropriate request with the chapter 13 Trustee to access the Trustee site if available to monitor member’s payments.
Provides skip tracing support to repossession agents in an effort to expedite the recovery of collateral.
Processes the collateral recovered by the 3rd parties into core processing systems and stand-alone tracking systems on a daily basis.
Communicates and negotiates verbally and in writing with VyStar Credit Union Members in conjunction with the assignment and recovery of secured collateral.
Provides alternatives to our member’s in lieu of repossession where necessary.
Communicates verbally and in writing with 3rd party recovery agents, insurance companies, and law enforcement agencies.
Works with the Consumer Loan Hardship Specialists to coordinate the disposition of collateral in the event of a member’s passing.
Files for refunds on single interest coverage insurance, extended warranty policies, GAP insurance and any other type of asset account linked to repossessed collateral on a daily basis.
Contact and follow up with attorneys and Trustees as needed via telephone and written correspondence.
Liaison for VyStar employees to answer general bankruptcy questions.
Produce and maintain desktop procedures for the bankruptcy process.
Consistently adheres to VyStar core values and Code of Ethics.
Performs the activities and projects as assigned and requested by the Collections Operations Supervisor and Vice President of Consumer Loan Collections.
Applies Debits & Credits to the loan account in the core processing system and maintains records of expenses and payments received on all Repossessed accounts on a daily basis.
Advises the Member(s) (and any other required party) of the recovery of the collateral, the redemption period and the liquidation of the collateral in accordance to federal, state and local statutes on a daily basis.
Identify and make recommendations to Collection Operations Supervisor and Department Vice President regarding process improvements, quality service and increased efficiencies.
All employees and business units, as first line of defense, are expected to proactively help identify, assess, manage, and report risks within their domain of work.
Incumbent is expected to demonstrate each of the following VyStar Excellence behaviors in performing the duties and responsibilities of their job.
Focus
Focus your full attention by carefully listening to and observing your client or member.
Connect
Consistently be friendly and approachable. Demonstrate you care.
Understand
Listen empathetically and ask questions. (70%/30%)
Counsel
Recommend solutions based on your clients or member’s needs and objectives.
Advance
Ensure that member's expectations were exceeded.
JOB KNOWLEDGE, SKILLS & ABILITIES Required A minimum of three years’ experience in collections, collateral remarketing, or bankruptcy and legal processing within a financial environment is required.
Knowledge of Fair Dept Collections Practice Act (FDCPA), Federal Bankruptcy Laws, Fair Credit Reporting (FCRA), state laws governing repossession and liquidation of repossessed collateral and secondary market requirements for servicing derogatory loans.
Applicant must have positive, well-developed communication skills, both written and oral, be detail oriented, have good organizational and active listening skills, the ability to work in a fast paced environment, and proven ability to work with others.
Must have professional conduct and appearance and be self-motivated. Must work under the philosophy of “people helping people” and be able to communicate with members and legal council at all levels.
Applicants must demonstrate the qualities of a self-starter and one who follows through on all job duties.
Preferred Knowledge of Microsoft Word, Excel, Access, Adobe, LaserFiche, MVI Document Capture, D-ROM Viewer, Dealertrack Technologies, AutoIMS, PACER and chapter 13 network.
EDUCATION An associate’s degree or higher is the minimum educational requirement. Experience may be substituted for education on a 2 to 1 ratio. Continuing education via local conferences and workshops is required for updates on federal regulations. Specialized classes in bankruptcy will be required.
DISCLAIMERS AND WORK ENVIRONMENT/PHYSICAL DEMANDS Nothing in this position description is an implied contract for employment. The position description is intended to be an accurate account of the essential functions. The functions are not all encompassing and are subject to change at any time by management.
The work environment characteristics described are representative of those that an employee encounters while performing the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
As required or requested, may exert up to 20 pounds of force occasionally and/or a negligible amount of force constantly to lift, carry, push, pull or otherwise move objects.
VyStar Credit Union is not seeking outside assistance or accepting unsolicited resumes from staffing agencies or search firms for employment or contractor opportunities. Any resumes submitted by an outside vendor to any employee at VyStar via e-mail, internet, or directly to hiring managers without a valid written search agreement with the Talent Acquisition / HR department will be deemed the sole property of VyStar Credit Union.
No placement fee will be paid if a candidate is hired as a result of the referral, or through other means.
Thank you for your inquiry regarding our current job opening. Your resume will be carefully reviewed against the position requirements. Should your experience and skills match, you will be contacted by one of our Human Resources department staff members.
Thank you again for your interest in this position!
VyStar Credit Union Human Resources
#J-18808-Ljbffr