VyStar Credit Union
Asset & Loss Mitigation Specialist
VyStar Credit Union, Jacksonville, Florida, United States, 32290
VyStar offers competitive pay and a comprehensive benefit package including a 401(k) plan, extensive training, and tuition reimbursement for all full- and part-time employees. Part-time positions start at a minimum of 30 hours per week. We invite you to become part of VyStar Credit Union's family of employees.
Asset & Loss Mitigation Specialist ACCOUNTABILITY STATEMENT: The incumbent ensures VyStar’s interest in collateralized and non-collateralized loans is protected against loss due to bankruptcy or other legal action. The role requires familiarity with Fair Debt Collection practices and bankruptcy legislation. The incumbent reviews legal documentation for loan accounts, seeking guidance as needed, and manages vendor relationships with repossession agents and bankruptcy attorneys. The specialist has decision-making authority within this role to achieve acceptable outcomes for both our members and the credit union. Collateral recovery and liquidation are integral to the loss mitigation strategy and relate to delinquency and charge-off reporting. The incumbent will manage a defined bankruptcy processing workflow to mitigate loss from litigation and stay informed of regulatory changes affecting bankruptcy processing. They will engage in the liquidation market and develop remarketing strategies to maximize collateral value while ensuring compliance with applicable laws. Accuracy and timeliness in coding support daily operations under state and federal bankruptcy regulations and collateral repossession and sale requirements.
Responsibilities
Code all consumer loans, business and consumer credit cards, and deposit accounts in the core system within one business day of notice receipt to ensure proper tracking and notification procedures adhere to bankruptcy statutes. Coding should cease unauthorized communications with bankrupt members.
Review bankruptcy notices with attorneys, management, and members to take appropriate actions within specified timeframes related to VyStar’s interests (petitions, claims, motions, affidavits, schedules, etc.).
Provide a monthly summary report outlining petitions received, processing times, and trends to management.
Recommend and prepare legal actions to mitigate loss; support and coordinate with the bankruptcy team to obtain lift of stay prior to discharge when necessary to secure collateral.
Review Chapter 13 plans to ensure equitable repayment of secured debts and prepare necessary claims; advise on sending files to attorneys for objections as appropriate.
File, track, and maintain court documentation to protect VyStar’s interests; reconcile loan repayment records after bankruptcy confirmations in collaboration with the Sr. Loan Modification Coordinator.
Ensure all post- and pre-petition amounts due are collected in accordance with Chapter 11/13 plans and provide operational support to Business Services for related accounts.
Stay informed of PACER filing requirements and bankruptcy legislation; implement policy changes as dictated by governing bodies.
Negotiate with members after discharge for reestablishment of membership in line with bankruptcy laws; inform members about membership status, collateral insurance requirements, payment history, and pending actions.
Prepare and assign collateral for recovery to third-party agencies, including assignments and writs of replevin as needed.
Coordinate trustee access to monitor member payments and disbursements when applicable; provide skip-tracing support to repossession agents.
Process recovered collateral into core and tracking systems daily; ensure accurate coding to avoid regulatory risk.
Communicate with members regarding recovery, redemption periods, and liquidation of collateral in accordance with laws.
Offer alternatives to repossession when appropriate and align with lending/modification processes for hardship cases.
Maintain communications with third-party recovery agents, insurers, and law enforcement in compliance with applicable statutes.
Collaborate with Consumer Loan Hardship Specialists to coordinate collateral disposition with estates and probate processes as needed.
Process refunds on insurance and ancillary products related to repossessed collateral and coordinate with dealer partners to secure contract cancellations.
Communicate with attorneys and Trustees as needed; serve as liaison for VyStar employees on bankruptcy questions.
Develop desktop procedures for the bankruptcy process and adhere to VyStar core values and ethics.
Perform projects and duties assigned by the Collections Operations Supervisor and VP of Consumer Loan Collections; apply debits and credits to loan accounts and maintain expense records daily.
Inform members of recovery, redemption, and liquidation timelines per applicable statutes; identify process improvements and participate in risk management discussions.
Identify opportunities to improve process efficiency and quality service; monitor filing trends and volumes monthly.
All employees and business units act as the first line of defense in identifying and reporting risks to support a healthy risk culture.
Note: A strong risk-awareness mindset is expected across roles to support regulatory compliance and operational integrity.
VyStar Excellence Behaviors
Focus: Listen carefully and observe the member; maintain attention to detail.
Connect: Be friendly, approachable, and show you care.
Understand: Listen empathetically and ask questions (70%/30%).
Counsel: Recommend solutions aligned with member needs.
Advance: Ensure that member expectations are exceeded.
Job Knowledge, Skills & Abilities Required
Minimum three years’ experience in collections, collateral remarketing, or bankruptcy/legal processing within a financial environment.
Knowledge of FDCPA, Federal Bankruptcy Laws, FCRA, state repossession and liquidation laws, and secondary market servicing for derogatory loans.
Strong written and verbal communication, detail orientation, organization, active listening, and ability to work in a fast-paced environment; able to collaborate with others.
Professional conduct and appearance; self-motivated; aligned with our people-helping-people philosophy; able to communicate with members and legal counsel at all levels.
Self-starter with follow-through on duties.
Preferred
Knowledge of Microsoft Word, Excel, Access, Adobe, LaserFiche, MVI Document Capture, D-ROM Viewer, Dealertrack Technologies, AutoIMS, PACER, and Chapter 13 networks.
Education
Associate’s degree or higher is the minimum requirement; experience may substitute for education on a 2-to-1 basis. Continuing education via local conferences/workshops is required for federal regulation updates. Specialized bankruptcy classes are required.
Disclaimers and Work Environment / Physical Demands Nothing in this position description constitutes an implied contract. The description reflects essential functions and may change at management’s discretion. Reasonable accommodations may be available for disabilities. May exert up to 20 pounds of force occasionally and/or a negligible amount of force to lift/carry/push/pull objects as needed.
VyStar Credit Union is not seeking outside assistance or accepting unsolicited resumes from staffing agencies or search firms. Resumes submitted without a valid written search agreement will be the property of VyStar. No placement fee will be paid for referrals or other means.
Thank you for your inquiry regarding our current job opening. If your experience matches the requirements, a member of the Human Resources team will contact you. VyStar Credit Union is an equal opportunity employer.
VyStar Credit Union Human Resources
#J-18808-Ljbffr
Asset & Loss Mitigation Specialist ACCOUNTABILITY STATEMENT: The incumbent ensures VyStar’s interest in collateralized and non-collateralized loans is protected against loss due to bankruptcy or other legal action. The role requires familiarity with Fair Debt Collection practices and bankruptcy legislation. The incumbent reviews legal documentation for loan accounts, seeking guidance as needed, and manages vendor relationships with repossession agents and bankruptcy attorneys. The specialist has decision-making authority within this role to achieve acceptable outcomes for both our members and the credit union. Collateral recovery and liquidation are integral to the loss mitigation strategy and relate to delinquency and charge-off reporting. The incumbent will manage a defined bankruptcy processing workflow to mitigate loss from litigation and stay informed of regulatory changes affecting bankruptcy processing. They will engage in the liquidation market and develop remarketing strategies to maximize collateral value while ensuring compliance with applicable laws. Accuracy and timeliness in coding support daily operations under state and federal bankruptcy regulations and collateral repossession and sale requirements.
Responsibilities
Code all consumer loans, business and consumer credit cards, and deposit accounts in the core system within one business day of notice receipt to ensure proper tracking and notification procedures adhere to bankruptcy statutes. Coding should cease unauthorized communications with bankrupt members.
Review bankruptcy notices with attorneys, management, and members to take appropriate actions within specified timeframes related to VyStar’s interests (petitions, claims, motions, affidavits, schedules, etc.).
Provide a monthly summary report outlining petitions received, processing times, and trends to management.
Recommend and prepare legal actions to mitigate loss; support and coordinate with the bankruptcy team to obtain lift of stay prior to discharge when necessary to secure collateral.
Review Chapter 13 plans to ensure equitable repayment of secured debts and prepare necessary claims; advise on sending files to attorneys for objections as appropriate.
File, track, and maintain court documentation to protect VyStar’s interests; reconcile loan repayment records after bankruptcy confirmations in collaboration with the Sr. Loan Modification Coordinator.
Ensure all post- and pre-petition amounts due are collected in accordance with Chapter 11/13 plans and provide operational support to Business Services for related accounts.
Stay informed of PACER filing requirements and bankruptcy legislation; implement policy changes as dictated by governing bodies.
Negotiate with members after discharge for reestablishment of membership in line with bankruptcy laws; inform members about membership status, collateral insurance requirements, payment history, and pending actions.
Prepare and assign collateral for recovery to third-party agencies, including assignments and writs of replevin as needed.
Coordinate trustee access to monitor member payments and disbursements when applicable; provide skip-tracing support to repossession agents.
Process recovered collateral into core and tracking systems daily; ensure accurate coding to avoid regulatory risk.
Communicate with members regarding recovery, redemption periods, and liquidation of collateral in accordance with laws.
Offer alternatives to repossession when appropriate and align with lending/modification processes for hardship cases.
Maintain communications with third-party recovery agents, insurers, and law enforcement in compliance with applicable statutes.
Collaborate with Consumer Loan Hardship Specialists to coordinate collateral disposition with estates and probate processes as needed.
Process refunds on insurance and ancillary products related to repossessed collateral and coordinate with dealer partners to secure contract cancellations.
Communicate with attorneys and Trustees as needed; serve as liaison for VyStar employees on bankruptcy questions.
Develop desktop procedures for the bankruptcy process and adhere to VyStar core values and ethics.
Perform projects and duties assigned by the Collections Operations Supervisor and VP of Consumer Loan Collections; apply debits and credits to loan accounts and maintain expense records daily.
Inform members of recovery, redemption, and liquidation timelines per applicable statutes; identify process improvements and participate in risk management discussions.
Identify opportunities to improve process efficiency and quality service; monitor filing trends and volumes monthly.
All employees and business units act as the first line of defense in identifying and reporting risks to support a healthy risk culture.
Note: A strong risk-awareness mindset is expected across roles to support regulatory compliance and operational integrity.
VyStar Excellence Behaviors
Focus: Listen carefully and observe the member; maintain attention to detail.
Connect: Be friendly, approachable, and show you care.
Understand: Listen empathetically and ask questions (70%/30%).
Counsel: Recommend solutions aligned with member needs.
Advance: Ensure that member expectations are exceeded.
Job Knowledge, Skills & Abilities Required
Minimum three years’ experience in collections, collateral remarketing, or bankruptcy/legal processing within a financial environment.
Knowledge of FDCPA, Federal Bankruptcy Laws, FCRA, state repossession and liquidation laws, and secondary market servicing for derogatory loans.
Strong written and verbal communication, detail orientation, organization, active listening, and ability to work in a fast-paced environment; able to collaborate with others.
Professional conduct and appearance; self-motivated; aligned with our people-helping-people philosophy; able to communicate with members and legal counsel at all levels.
Self-starter with follow-through on duties.
Preferred
Knowledge of Microsoft Word, Excel, Access, Adobe, LaserFiche, MVI Document Capture, D-ROM Viewer, Dealertrack Technologies, AutoIMS, PACER, and Chapter 13 networks.
Education
Associate’s degree or higher is the minimum requirement; experience may substitute for education on a 2-to-1 basis. Continuing education via local conferences/workshops is required for federal regulation updates. Specialized bankruptcy classes are required.
Disclaimers and Work Environment / Physical Demands Nothing in this position description constitutes an implied contract. The description reflects essential functions and may change at management’s discretion. Reasonable accommodations may be available for disabilities. May exert up to 20 pounds of force occasionally and/or a negligible amount of force to lift/carry/push/pull objects as needed.
VyStar Credit Union is not seeking outside assistance or accepting unsolicited resumes from staffing agencies or search firms. Resumes submitted without a valid written search agreement will be the property of VyStar. No placement fee will be paid for referrals or other means.
Thank you for your inquiry regarding our current job opening. If your experience matches the requirements, a member of the Human Resources team will contact you. VyStar Credit Union is an equal opportunity employer.
VyStar Credit Union Human Resources
#J-18808-Ljbffr