Legal Recovery Specialist I

Overview:      

Responsible for mitigating losses for the credit union.  Maintain compliant account maintenance by documenting the system for all legal and recovery items received daily, including posting of funds received. Transfer records into secured electronic storage sites.  Prepare required documents for our attorney.  Work with assigned counsel on legal and bankrupt members. 

Duties and Responsibilities:

• Maintain accounting for accounts that are being service by outside counsel or vendors. 
• Accurate posting of payments and record keeping in the core system, credit card system, and maintain record keeping in the collection software.
• Enter the Akcelerant system and place flags on accounts, update status and add memos to the appropriate account on the core as directed by the job duties or management.
• Review and maintain accurate invoicing on legal and bankrupt accounts
• Handle SCRA accounts from the beginning, maintenance, and resolution of service according to all federal regulations.
• Perform in depth account research for account resolution.
• Prepare and submit legal packets for credit union counsel or outside collection agencies and attorneys.
• Process and balance attorney, trustee, and collection agency payments while recording them in the collection software
• Maintain accurate record-keeping to maintain compliance as required by credit union policies and federal regulations.
• Prepare the bankruptcy claims and copies of the bankruptcy and judgment accounts turned to Credit Union attorney.
• Assist in reviewing accounts that have filed bankruptcy and proceed with appropriate action.  This includes working directly with members and attorneys in various stages of bankruptcy.
• Process collection department receivable adjustments.
• Enter data into department reports such as agency & repossession and deliver to proper recipient.
• Complete research as needed when member has a request or feels there might be an error and discuss findings with management.
• Maintain acceptable SLA’s by handling portal requests in a timely manner.
• Review, analyze to ensure all rights of setoff have been executed, prepare reporting, and execute depository charge off weekly
• Work with financial counseling agencies to maintain workout agreements.
• Review and advise on estates, POA, and trusts
• Work with attorneys to obtain replevins, quiet titles, title histories, and judgements
• Contact, initiate and sell members on doing a workout loan after their repossession has been sold to help them maintain membership and reduce credit union losses.
• Handle all deceased member accounts for the credit union with heightened sensitivity.
• Review deceased member accounts, apply appropriate lockouts to protect the credit union from losses, review for reclamations, work with next of kin and branch staff to obtain proper documents to finalize accounts for deceased members.
• Make claims against the estate in order to reduce credit union losses.
• Maintain good relationships with vendors.
• Maintain confidentiality in all Credit Union and member matters.
• Present a positive image of the Credit Union to members through a professional appearance and courteous attitude.
• Complies with all federal, state, and organizational policies, procedures, and processes, including (but not limited to) the Bank Secrecy Act (BSA), Patriot Act, Office of Foreign Assets Control (OFAC), Federal Debt Collection Practices (FDCP),  Service members Civil Relief Act (SCRA), Unfair Deceptive or Abusive Acts and Practices (UDAAP) and robbery procedures
• Perform other duties as assigned by supervisor.

Qualifications and Education:

• Excellent oral/written communication skills and telephone manners /techniques.
• Strong technological ability
• Ability to perform minor math calculations and interpret financial data.
• Knowledge of fundamentals of lending, loan collection concepts and practices.
• Ability to understand the legal aspects of collection, deceased, bankruptcy, reposses­sions, small claims and foreclosure procedures.
• Ability to perform duties under the direction of the Fair Debt Collection Practices Act.
• High School diploma or equivalent required.
• Working knowledge of Excel or other spreadsheet programs.
• Previous credit union or financial institution experience desired.