Recovery Specialist

The Recovery Specialist reports to the Assistant Collections Manager and is responsible for the recovery of charged-off Overdraft Privilege accounts and loan losses. The role requires contacting members through various channels, including in-person, phone, mail, and legal avenues when necessary. The Recovery Specialist will establish repayment plans, update account balances, and notify credit reporting agencies as appropriate. Additionally, the position involves providing guidance to members on managing delinquent loans and using credit responsibly.

The ideal candidate will be knowledgeable about the Fair Debt Collection Practices Act (FDCPA) and the Consumer Financial Protection Bureau (CFPB) regulations. Familiarity with small claims court, judgments, and deficiency balances is essential. The role demands professionalism, diplomacy, and accuracy in all interactions with members.

• Understand and adhere to credit union policies, CFPB, and FDCPA regulations.
• Systematically manage the collection of charged-off loan and Overdraft Privilege balances.
• Document all member interactions, including time, date, and method of contact.
• Follow up on assigned accounts to ensure compliance with collection policies.
• Contact all assigned accounts at least once weekly.
• Send deficiency letters and upload them into the collection system monthly.
• File legal documents, such as Summons & Complaints, and coordinate with the credit union’s attorney.
• Represent the credit union professionally in court.
• Prepare monthly recovery reports detailing collected amounts, dates, and originating loan officer names.
• Use authorized methods to locate members when necessary.
• Ensure accurate input of documentation in the collections system and member loan files.
• Research and resolve any discrepancies in member accounts.
• Recommend accounts for legal action following collection policies.
• Assist with incoming calls and manage delinquent accounts as needed.
• Promote Diversity, Equity, and Inclusion in all relevant projects and collaborate with stakeholders.
• Identify and recommend process improvements and support implementation.
• Perform other duties as assigned by management.
• Ability to collect payments from delinquent accounts.
• Knowledge of Consumer Financial Protection Bureau (CFPB) and Fair Debt Collection Practices (FDCP) acts, as well as credit union policies and procedures.
• Capability to work both independently and in a team environment.
• Strong multitasking skills and adaptability to changing environments.
• Proficiency in Microsoft Office.
• Excellent verbal and written communication skills.
• Ability to maintain stable personal financial affairs.
• Professional appearance, punctuality, and a cooperative attitude towards colleagues and members.
  
  
  

Palmetto Citizens is an Affirmative Action and Equal Opportunity Employer. Minority/Female/Disabled/Veteran

This Reduced Full-Time position works from 1100 am until approximately 500 pm Monday - Thursday and 1100 am until approximately 600 pm Friday. Successful candidates should have the ability to work with people, handle cash and financial transactions, and be comfortable promoting the credit union's products and services. Tellering and cross-selling are major parts of this position. In addition to salary, opportunities to earn incentives are also available.

• Provides accurate, friendly and professional service to members in person and by telephone, including handling deposits, loan payments, transfers, withdrawals, and other financial transactions.
• Assists members with account research and maintenance; answer account and service related questions.
• Maintains an accurate knowledge of security procedures and internal controls.
• Develops knowledge of products and services to assist members with solutions to their financial needs.
• Maintains a balanced and secured cash drawer, balanced supply of tickets, and other consigned items.
• Previous customer service or retail experience preferred.
• Previous cash handling experience preferred.
• Bilingual candidates a plus. Palmetto Citizens is an Affirmative Action and Equal Opportunity Employer. Minority/Female/Disabled/Veteran
  
  
  

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