Loan Loss Recovery Specialist Job at BECU
As the nation's largest community credit union, we begin every day focused on delivering superior financial products and services for our 1.3 million members and more than $30 billion in managed assets. Our work has an economic impact as we support our members' financial goals. We are unapologetic about being devoted to our members and the communities we serve. Our business is guided by our people helping people philosophy – which includes our team members.
BECU has been in business for more than 85 years, driven by unwavering core values and a dedication to improving the communities we serve. While we have a rich history, the future of our company, accelerated by business and technology transformation, is even brighter. There's never been a better time to work for BECU.
BECU has been in business for more than 85 years, driven by unwavering core values and a dedication to improving the communities we serve. While we have a rich history, the future of our company, accelerated by business and technology transformation, is even brighter. There's never been a better time to work for BECU.
To learn more visit becu.org/careers.
PAY RANGE
The Target Pay Range for this position is $26.59-$32.45 hourly. The full Pay Range is $20.63-$38.41 hourly. At BECU, compensation decisions are determined using factors such as relevant job-related skills, experience, and education or training. Should an offer for employment be made, we will consider individual qualifications. In addition to your salary, compensation incentives are available for the hired applicant. Incentives are performance based and targets vary by role.
BENEFITS
Employees and their eligible family members have access to a wide array of employee benefits, such as medical, dental, vision and life insurance coverage. Employees have access to disability and AD&D insurance. We also offer health care and dependent care flexible spending accounts, as well as health savings accounts, to eligible employees. Employees are able to enroll in our company’s 401k plan and employer-funded retirement plan. Newly hired employees accrue 6.16 hours of paid time off (PTO) on a per pay period basis based on hours worked (up to a maximum of 160 PTO hours per year) and receive ten paid holidays throughout the calendar year. Additional details regarding BECU Benefits can be found
here
.
SUMMARY
The Loan Loss Recovery Specialist is responsible for recovering monies charged off as a loss to the Credit Union in accordance with Credit Union policies and philosophy. This person will be knowledgeable of all Credit Union policies, guidelines and procedures. This person must also demonstrate the ability to develop a working knowledge of all products and collection processes.
This role is remote eligible only from the States of Washington, Idaho, and Oregon.
RESPONSIBILITIES
- Perform all responsibilities in accordance with BECU Competencies and Information Protection requirements.
- Negotiate settlements with debtors, attorneys and third parties for charged-off accounts.
- Have a thorough knowledge of state and federal laws pertaining to collections.
- Monitor and document status of all pending accounts with the Collection System.
- Maintain prompt follow up on all legal and collection accounts.
- Skip-trace and locate debtors.
- Recommend process improvements for Loan Loss Recovery.
- Promptly follow through and abide by Washington State and federal laws concerning collections, levies, liens, rights, or record of all actions taken.
- Serve as an escalation point for Loan Loss Recovery collection issues.
- Ensure written procedures are documented for all areas of responsibility.
- Report any issues that will adversely affect recovery or impact the Credit Union.
- Review bills from vendors for completeness and accuracy.
- Daily input of new charged-off accounts into the collection system, process payments, process returned mail, prepare and file Chapter 7 & Chapter 13 proofs of claim, and prepare letters.
- Forward accounts to collection agencies and act as liaison with collection agencies.
- Update credit bureaus as required, prepare reports and assemble documents for portfolio sales.
- Maintain effective communication with all Credit Union employees to ensure coordination and exchange of information for accomplishing Credit Union goals.
- For the purpose of attaining Credit Union goals, it is the responsibility of each employee to strive for the continuous improvement of processes and quality of service.
- Perform additional duties as may be assigned.
QUALIFICATIONS
- Ability to exercise confidentiality and discretionary judgment.
- Ability to present a professional image to members, co-workers, and outside contacts.
- Ability to work independently, and as a team member, while using discretion in decision making and sound judgment in problem solving.
- Ability to change within working responsibilities, be it internal, market or regulatory driven.
- Excellent verbal and written skills to effectively communicate in the English language.
- Proficient PC skills, with the ability to learn new software.
- Ability to prioritize multiple tasks and work well under deadlines.
- Effective leadership and negotiation skills.
- Additional hours as necessary, to accomplish objectives, goals, and projects.
- A. in Business Administration, or equivalent work or educational experience.
- Minimum 3 years of telephone collections and skip tracing experience.
- Minimum five years collection experience. Two years are financial institution collections required. BECU collections experience preferred.
- Certification or knowledge of the laws and regulations of the Fair Debt Collection Practices Act required.
- Experience with legal collections preferred.
EEO Statement:
BECU is an equal opportunity employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, national origin, veteran status, disability, sexual orientation, gender identity, or any other protected status.
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