Loss Mitigation & Recovery Specialist

## Loss Mitigation & Recovery Specialist Apply locations:
Webster, TXtime type:
Full time posted on:
Posted Yesterday job requisition :
JR101664

It's fun to work in a company where people truly BELIEVE in what they're doing!
* We're committed to bringing passion and customer focus to the business.
*** Position Summary
** The Loss Mitigation & Recovery Specialist role makes a difference in our members’ lives  building relationships with our members who have encountered financial hardships and providing options for them to mitigate losses and recover outstanding balances for the credit union. This role preserves Credit Union assets by controlling delinquent accounts, collecting delinquent loan payments, counseling with members, and/or recovering collateral.

The Specialist will be responsible for auditing and correcting errors to members’ accounts and other member service functions.
** Principle Duties and Responsibilities
*** Willingness and ability to exhibit Wellby Core Values every day.
* Works with purpose and is driven to provide the best team member experience.
* Assist with member correspondence- member inquiries, complaints, billing questions and payment/extension service requests.
* Contact and counsel delinquent members to cure delinquency utilizing all payment options and loss mitigation tools offered by Wellby.
* Maintain working knowledge of federal and state consumer protection laws (Unfair, Deceptive, or Abusive Acts or Practices; Fair Debt Collection Practices Act; Fair Credit Reporting Act; Service members Civil Relief Act, etc.), internal policies, procedures which affect Loss Mitigation.
* File CPI claims and upload supporting documents.
* Maintain an elevated level of member experience and excellent communications with all internal and external business partners.
* Document all loss mitigation actions taken, such as telephone conversations, letters mailed, texting and other similar activities.
* Ensure required notifications, including breach and collection letters, and any applicable state/regulatory/investor letters are sent to members.
* Perform skip tracing routine to locate member.
* Review, and recommend which accounts qualify for possible legal action, or charge-off.
* Review vendor invoices for accuracy and submit for payment.
* Oversee entire repossession process; processing, decisions, and follow up with repo agent or member.
* Manage Reworks, Repossessions, Bankruptcy, charge-off negative share accounts.
* Make corrections and update credit bureau reports in accordance with FCRA.
* Resolve issues related to settlements, bankruptcy, payments, and/or charge-off actions.
* Perform Charge off share accounts.
* Perform File Sequestration.
* Perform share transfers for amountds up to authorized limits.
* Implement loss mitigation options, prepare, process and send appropriate notifications.
* Perform quality analysis of financial information used to determine accuracy. Align financial figures provided by members with supporting documentation.
* Understand and potentially communicate with borrowers or internal departments on specific financial information, including discussing debt to income, and personal financial statements.
* Assumes responsibility for related duties and special projects as required or assigned.
* Performs other duties as assigned.
** Knowledge, Skills, and Abilities (KSA)
*** Knowledge of Wellby’s organizational functions, and general operating policies and procedures.
* Knowledge of secretarial practices and procedures, business English, spelling, and punctuation.
* Knowledge of personal computer, utilizing Microsoft Office Suite.
* Skilled in operating computer equipment and general office machines such as personal computers, copiers, projection equipment, audio/video, Microsoft Teams, Zoom Video Communications, and adding machines.
* Ability to interpret regulations affecting the Credit Union
* Ability to communicate information and ideas so others will understand. Must be able to exchange accurate information in these situations.
* Ability to work effectively across organizational departments and functions to achieve strategic goals.
* Ability to work in a fast-paced team environment…