Collections Specialist (Lawrence, MA)

Join Our Team as a Collections Specialist
Location: Lawrence, MA | Full-Time

The Collections Specialist is responsible for mitigating credit union losses by managing complex, high-stage delinquent accounts and overseeing the end-to-end collateral recovery process. This position serves as the primary liaison for repossessions, vendor management, and specialized legal accounts ensuring all recovery activities are executed in strict compliance with state and federal regulations, as well as internal credit union policies. If you're looking to start or continue your career in banking with a team that values your contributions, we'd love to meet you!

Why You'll Love Working Here

• A collaborative team culture where your contributions matter
• Ongoing training and career development opportunities
• Competitive pay, benefits, and the chance to grow with a supportive organization

What You'll Be Doing (Your Responsibilities)

1. Proactively manage severely delinquent vehicle-secured and consumer loan accounts. Utilize advanced ski-tracing techniques , targeted member communication, and negotiation to resolve accounts prior to charge-off.
2. Direct all phases of the collateral recovery lifecycle. This includes issuing Right to Cure notices, assigning out for recovery, managing the redemption process, and coordinating the final auction and disposition of the asset.
3. Serve as the primary point of contact for external recovery agents, ensuring adherence to service expectations. File, track, and manage Vendor Single Interest (VSI) claims, physical damage claims.
4. Manage the repossession dashboard to track the progress of all assignments. Prepare and present comprehensive repossession reports to management, ensuring all recovery activities maintain proper vendor communication and strict compliance with legal and departmental policies.
5. Ensure the proper, compliant handling of accounts impacted by Chapter 7/13 bankruptcy, estate processes, and legal judgments. Maintain strict adherence to the Fair Debt Collection Practices Act (FDCPA), state-specific repossession statutes (including Massachusetts and New Hampshire collection laws), and all internal procedures.
6. Maintain meticulous account documentation in all systems. Uphold the department's Communication Service Level Policy by ensuring prompt, professional responses across all channels (email, voicemail, internal messaging) with members, vendors, and internal staff.
7. Assist in reviewing and servicing legacy accounts, ensuring consistent application of BrightBridge collection strategies across all portfolios.
8. Serving as a true member advocate, going above and beyond to provide a positive member environment, while ensuring prompt, accurate responses to staff and members across all applicable channels.

What We're Looking For (Your Qualifications)

1. Three to four years of dedicated experience in first-party collections, with a specialized focus on collateral recovery and high-stage delinquency. Credit union experience is strongly preferred.
2. Bachelor's degree or equivalent experience preferred.
3. Strong working knowledge of FDCPA, FCRA, bankruptcy codes, and regional state collections laws (including MA and NH).
4. Proficiency in core banking/collections software, alongside standard business applications (Excel, Word, Teams, Outlook).
5. Excellent de-escalation and negotiation skills required for high-friction member interactions, combined with strong organizational skills to manage time-sensitive legal documentation.