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Asset Recovery Specialist

Lafayette Federal Credit Union Rockville, MD
  • Expired: over a month ago. Applications are no longer accepted.
Job Description

 

Description

Lafayette Federal Credit Union is seeking a smart, organized, and resourceful professional to assist the Asset Recovery department in monitoring loans that are in default in the credit union loan portfolio as well as providing support services in managing the process of loan extensions, loan modifications and foreclosures.

The Asset Recovery Specialist also:

  • Independently prioritizes and executes daily collection activities; contacts members for payment via telephone and email, timely documents and maintains collection notes and performs appropriate follow-up.
  • Monitors and documents all legal cases as well as tracks documentation sent to collection attorneys. Performs the appropriate follow-up with collection attorneys to ensure due diligence on all legal cases. Reviews and updates all tracking spreadsheets.
  • Monitors, reviews and updates exception, delinquent and matured loan reports; ensures timely member billing and loan payment processing.
  • Assists in activities related to loss mitigation to include loan extensions, loan modifications and foreclosures.
  • Maintains mortgage and consumer collection queues to ensure legal action and consumer loan charge offs are performed timely and accurately.
  • Demonstrates compliance with all applicable regulations and keeps up to date on regulation changes.
  • Ensures that procedures regarding account sweeps, member notifications and collection notes are followed. Updates all member accounts within established timeframes to achieve maximum collection of past due debts.
  • Establish and maintain effective, cooperative and collaborative working relationships with members, attorneys, vendors and staff.
  • Performs other duties as assigned by the Vice President of Asset Recovery and the Senior Vice President of Lending.
  • Troubleshoots and resolves member and internal inquiries in a timely, friendly and professional manner. Ensures all written and verbal member correspondence and all related information are documented and/or scanned accurately and timely into the Asset Recovery system.
  • Responsible for understanding and complying in an accurate and timely basis with all Bank Secrecy Act/Anti-Money Laundering/OFAC requirements that pertain to your position at LFCU and as directed by management and/or the Senior Vice President of Risk Management.

 

Requirements

About You

 

The ideal candidate will:

  • Provide all members with professional support, accurate information, and friendly service.
  • Ensure all data entry for loans are made with minimal, non-recurring errors.
  • Prepare monthly delinquency reports by the established deadline.
  • Contribute to the successful achievement of Organizational and Departmental goals as set by management and/or the Vice President of Asset Recovery.
  • Adhere to Lafayette Federal’s Service Standards Policy.
  • Maintains confidentiality at all times.
  • Maintain a dependable record of attendance and timeliness.
  • Ensure that consumer and mortgage collection queues are followed.

Requirements

 

Qualified candidates will have the following:

  • A positive credit standing

Experience:

  • Three to five years of similar or related experience

Education:

  • A high school diploma or GED
  • Completion of a specialized course of study at a business or trade school or
  • Completion of a specialized and extensive in-house training or apprenticeship program.

Interpersonal Skills:

  • A significant level of trust and diplomacy is required, in addition to normal courtesy and tact.

Physical requirements and Work Environment

  • This position requires manual dexterity, the ability to lift files and open cabinets. This position requires bending, stooping or standing as necessary.
  • This job operates in a clerical office setting. This role routinely uses standard office equipment such as computers, phones, photocopiers, filing cabinets and fax machines. Office environment with job duties conducted via telephone, face to face meetings, and on the computer.

*Lafayette Federal Credit Union is an equal opportunity employer.*EOE/AA/VETERAN/DISABLED

Company Description
Lafayette Federal Credit Union is one of the premiere financial institutions in the Washington, D.C. area with assets exceeding $600MM. Since our founding in 1935, we have sought to provide our members with a safe and convenient place to save, and to offer loans at rates and terms more favorable than those of other financial institutions. We always strive to provide top-notch customer service.

Lafayette Federal Credit Union is not just a great financial services provider‚ it’s a great place to work too! We offer an outstanding benefits package that includes:

• 401(k) with Employer Match and Profit-sharing
• Generous Paid Time Off Package
• Group Health Insurance for Single and Family Coverage
• Flexible Spending Account
• Health Savings Account with Employer Funding
• Life and Accidental Death and Dismemberment Insurance
• Short and Long-Term Disability Insurance
• Dental Reimbursement
• Commuter Benefits
• Educational Assistance

In addition to the benefits listed above‚ LFCU fosters a great work environment. Just ask our employees!

*Lafayette Federal Credit Union is an equal opportunity employer.*

EOE/AA/VETERAN/DISABLED

Lafayette Federal Credit Union

Lafayette Federal Credit Union is one of the premiere financial institutions in the Washington, D.C. area with assets exceeding $600MM. Since our founding in 1935, we have sought to provide our members with a safe and convenient place to save, and to offer loans at rates and terms more favorable than those of other financial institutions. We always strive to provide top-notch customer service. Lafayette Federal Credit Union is not just a great financial services provider‚ it’s a great place to work too! We offer an outstanding benefits package that includes: • 401(k) with Employer Match and Profit-sharing • Generous Paid Time Off Package • Group Health Insurance for Single and Family Coverage • Flexible Spending Account • Health Savings Account with Employer Funding • Life and Accidental Death and Dismemberment Insurance • Short and Long-Term Disability Insurance • Dental Reimbursement • Commuter Benefits • Educational Assistance In addition to the benefits listed above‚ LFCU fosters a great work environment. Just ask our employees! *Lafayette Federal Credit Union is an equal opportunity employer.* EOE/AA/VETERAN/DISABLED

Address

Rockville, MD
USA

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