Collateral Recovery SpecialistOperations Support North Richland Hills, Texas
Summary of Responsibilities:
- Under direct supervision of the Loss Recovery Manager, the Collateral Recovery Specialist provides recovery efforts on charged-off accounts through repossession assignments, and reinstatements. This team member has contact with customers, other departments and outside agencies and/or 3rd parties.
- Handle incoming calls related to collateral recovery issues.
- Properly document all account activity in the computer system.
- Initiate repossession of collateral when located if the value of the unit warrants recovery.
- Provide agents with all the pertinent information to effectively recover the assigned collateral.
- Ensure all accounts in the specialists queues are worked daily.
- Initiate contact with customers or agencies in an effort to negotiate recovery of collateralized balances.
- Have a thorough understanding of the repossession/charge-off processes.
- Recommend settlements as circumstances warrant.
- Negotiate value and interest to adequately protect SC USAs interest in collateral.
- Determine need to assign accounts to outside counsel based on experience, district guidelines, and written procedures.
- Monitor and follow-up on plan confirmation, dismissal of Bankruptcy, and discharge of debt.
- Monitor discharged Chapter. 7 Bankruptcy for monthly payments.
- Assist in reporting and tracking of all Bankruptcy processes.
- Assist outside counsel in requested action against debtor.
- Handle incoming calls related to uncollectible accounts and non-collateral overflow.
- Special projects as requested
- Performs other duties as assigned
- May assist in other related departments as required by business need.
- High school diploma or equivalent
- Three (3) years Collections experience in automobile collections or minimum one (1) year previous Back End (61+ days delinquency) experience with SC USA – One (1) year previous repossession experience
- Strong knowledge of collection policies and procedures and the Fair Debt Collection Practices Act (FDCPA)
- Accurate data entry, typing and ten-key skills
- Good verbal and written communication skills
- Interpersonal skills necessary to promote a cooperative team environment and provide good customer service
- Working knowledge of Microsoft Office Suite, including Excel and Word
- Ability to perform basic arithmetic calculations in order to perform duties described above
- Excellent negotiation skills
- Ability to maintain confidentiality
- Overtime work may be required throughout the year
- Shifts and/or schedules may change throughout the year as dictated by management and business needs