Debt & Asset Recovery Specialist

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Regular Full-Time Itasca, IL, US

8 days ago Requisition

Salary Range: $57,200.00 To $63,400.00 Annually

Position Overview:

The company is looking for a motivated and experienced portfolio management professional skilled in mid-stage collections and recovery activities. The Debt and Asset Recovery Specialist responsibilities include (but are not limited to) collection of delinquent accounts through phone/written correspondence, skip-tracing, repossession requests/submissions, managing contracts out for repo, account escalation, and submittal of legal recommendations as warranted. This role ensures the effective coordination of late-stage collections, asset recovery, and risk mitigation strategies.

The ideal candidate must be positive, focused, a team player, and possess strong time management, multitasking, and negotiating skills.

Commitment to Internal Control:

The incumbent accepts the responsibility for establishing and maintaining the internal control system associated with the essential duties and responsibilities of the functional areas that the incumbent manages.

Essential Duties and Responsibilities:

(List in order of time spent)

• Strive to mitigate loss and maximize recoveries through proactive management of assigned problem account queue, performing all collection and recovery activities timely and accurately
• Conduct extensive skip-tracing and work in conjunction with outside partners (repo and collections) in efforts to locate obligors, secure payment, and collateral
• Assume responsibility for all out for repossession accounts until collected, current or default cured.
• Prepare and present account status reports to management upon request
• Assist our Collections Team by issuing door knockers and field assignments prior to repo assignment
• Assign accounts to our repo companies based on the best probability of recovery and reassign as necessary
• Coordinate with Collections, Asset Management, and Legal to effectively utilize all resources to reach account resolution
• Create complete and thorough documentation so that the file can be handed to asset management for remarketing purposes
• Document all interaction with customers and outside agencies to ensure tracking and reporting accuracy
• Make next-step recommendations to management team including litigation, abandonment, and charging off
• Seek workout and repayment opportunities with obligors; working with customers to restructure, reschedule, rewrite, or extend payments.
• Handle all invoice resolutions to make sure bills are paid in a timely fashion
• Furnish proper customer facing written communications such as demand and notice of private sale.
• Conduct routine audits of repossession efforts; routinely seek updates from partners
• Address third-party repair liens or competing interests
• Ensure compliance with laws and internal policies
• Participate in continuous improvement initiatives for processes and policies
• Handle any miscellaneous duties as assigned.

KPI’s (Key Performance Indicators):

• Routine agent performance indicators include effort and effectiveness measures
• Call center performance
• Account touches
• Account resolutions
• Repossession activity reporting
• Message and follow up activity
• Quality Control and monitoring
• Support & Guidance to Team Members
• Availability for daily questions and approvals
• Accuracy and completeness of case files.
• Compliance with internal standards and external regulations
• Complex Case Handling
• Training & Development
• Escalation management and workflow continuity

Responsibility and Decision-Making Authority:

Acts independently within company policy. Makes decisions on recovery strategies, team operations, and resource allocation

Management/

Supervisory Responsibilities:

N/A

Qualifications:

• Solid working knowledge of MS Excel and MS Word preferred
• Bilingual in English & Spanish a plus
• Strategic thinking and problem-solving
• Strong interpersonal and negotiation skills
• Risk assessment and decision-making
• Excellent communication and organizational skills
• Desire to work in a team environment
• Forwa…