Asset Recovery Specialist

Job Scope

The Asset Recovery Specialist 2 manages day‑to‑day post‑charge‑off and secured collateral recovery efforts applying working knowledge of asset recovery practices. The role evaluates charged‑off loans and delinquent accounts for collectability, initiates and documents repayment options, and coordinates repossession assignments, loan modifications, extensions, and collateral disposition within established policies. It also resolves lien and impound issues and supports post‑charge‑off recovery processes.

Full‑time

• Apply working knowledge of credit union policies and regulatory requirements to process secured loan charge‑offs accurately and on time.
• Review loan history, collateral status, borrower financials, and account risk to assess collectability and recommend recovery actions.
• Monitor high‑risk secured loans, update account information, and initiate appropriate recovery efforts within delegated authority.
• Maintain thorough documentation of all recovery decisions and activities.
• Initiate and manage repossession activity for delinquent secured loans, including automobiles and equipment.
• Coordinate with licensed repossession agents, transport vendors, and auction facilities to ensure timely and compliant recovery.
• Process voluntary surrenders and ensure all repossession documentation is complete and accurate.
• Arrange inspections and transportation of recovered assets to approved auction facilities; monitor sale outcomes to ensure maximum recovery value.
• Prepare deficiency balance documentation following asset liquidation when applicable.
• Determine necessary vehicle reconditioning to maximize auction value and coordinate related services.
• File applicable insurance claims for damaged repossessed vehicles and skip claims to recover losses.
• Interview members to assess eligibility for loan extensions or payment modifications.
• Review, process, and approve modifications or settlements within delegated authority.
• Ensure timely system updates and retention of executed agreements.
• Communicate with members regarding delinquency, repossession risk, repayment options, and voluntary surrender agreements while protecting the credit union’s interests.
• Negotiate repayment terms or settlement agreements within delegated authority.
• Conduct skip tracing using approved tools and databases to locate unresponsive borrowers and update account information.
• Ensure all communication is conducted professionally and in compliance with FDCPA and credit union policy.
• Coordinate assignment of charged‑off or delinquent accounts to third‑party collection agencies, repossession agents, and auction vendors.
• Monitor vendor performance, recovery rates, compliance, and timelines; expedite issues as needed.
• Serve as a point of contact for vendor coordination, audits, and escalations.
• Research and resolve mechanic’s liens, impound holds, and other title or possession issues.
• Coordinate with law enforcement, impound facilities, and repair shops to recover and release collateral.
• Track timelines and costs to minimize losses from liens and impounds.
• Monitor and reconcile recovery payments from members, vendors, and auction proceeds to ensure accurate application to accounts.
• Prepare regular reporting of post‑charge‑off collections, settlements, collateral sales, and agency activity.
• Review and process Tax Levies and Child Support Bank Levies in compliance with applicable laws and regulations.
• Maintain detailed documentation of levy requests, actions taken, and funds remitted.
• Communicate with members and applicable government agencies regarding levy status and requirements.
• Ensure all repossession, recovery, modification, levy, and collection activities comply with FDCPA, UCC, state repossession laws, consumer protection regulations, and internal policy.
• Maintain accurate, organized, and complete records of all recovery activities.
• Provide documentation as needed for internal audits or regulatory reviews.
• Perform other duties as assigned by management.

• Minimum 3+ years of direct experience in collections, repossession, asset recovery, troubled loan modifications, or secured loan servicing, with progressively increasing…