Loss Mitigation & Recovery Specialist

Position Summary The Loss Mitigation & Recovery Specialist role plays a pivotal part in supporting members who have encountered financial hardships by providing options for mitigating losses and recovering outstanding balances for the credit union. The Specialist preserves Credit Union assets by controlling delinquent accounts, collecting delinquent loan payments, counseling with members, and/or recovering collateral. Essential Duties and Responsibilities Collecting delinquent accounts, posting payments, mortgage letters, and collection letters. Assist with member correspondence—member inquiries, complaints, billing questions, and payment/extension service requests. Contact and counsel delinquent members in an attempt to cure delinquency utilizing all payment options and loss mitigation tools offered by CU. Maintain working knowledge of federal and state consumer protection laws (Unfair, Deceptive, or Abusive Acts or Practices; Fair Debt Collection Practices Act; Fair Credit Reporting Act; Service Members Civil Relief Act, etc.), internal policies, and procedures that affect Loss Mitigation. File CPI claims and upload supporting documents. Maintain an elevated level of member experience and excellent communications with all internal and external business partners. Document all loss mitigation actions taken—telephone conversations, letters mailed, and other similar activities—within Wellby designated software platform(s) and applicable reporting. Ensure required notifications, including breach and collection letters, and any applicable state/regulatory/investor letters, are sent to members. Collect returned checks (NSF, stop payment, refer to maker, etc.) deposited by members. Monitor activity of members on Consumer Credit Counseling services. Prepare and post transfer of available funds from member’s share account to apply to delinquent loan accounts. Process skip tracing routine to locate clients. Review, and recommend which accounts qualify for possible legal action or charge off. Pay third‑party invoices. Oversee the entire repossession process; processing, decisions, follow‑up on account and forbearance collection. Manage Member Correspondence, Reworks, Repossessions, Bankruptcy. Make corrections and update credit bureau reports as needed. Set up payment and forbearance agreements over the phone to meet team goals monthly. Prepare/Recommend loans for charge‑off review. Resolve issues related to settlements, bankruptcy, or charge‑off actions. Perform charge‑off share accounts. Perform file sequestration. Perform share transfers for amounts up to authorized limits. Process disputes and corrections via E‑Oscar; perform collections on past‑due mortgage accounts; verify mortgage wires for funding. Implement loss mitigation options, prepare, process, and send appropriate notifications when applicable. Perform quality analysis of financial information used to determine accuracy. Align financial figures provided by members with supporting documentation. Understand and potentially communicate with borrowers or internal departments on specific financial information, including discussing debt‑to‑income and personal financial statements. Assume responsibility for related duties and special projects as required or assigned. Qualifications and Experience Bachelor’s degree in general studies, business, management, or related field preferred. Minimum one (1) to three (3) years of experience in collections or similar experience. Credit union or retail banking experience preferred. Strong communication, problem‑solving, administrative, multitasking, and organizational skills required. In‑depth knowledge of laws and policies related to debt collection. Bilingual preferred. Bondable Job Requirements Must be able to stand or sit for prolonged periods. Must be able to remain in a stationary position 50% of the time. Occasional movement around the office to access file cabinets, office machinery, etc. Constantly operate a computer and other office productivity machinery. Ability to communicate information and ideas so others will understand. Ability to observe details at close range (within a few feet). Occasional lifting of items up to 25 pounds. Other Information This is a Full‑Time, Hourly role. Wellby is an equal opportunity and affirmative action employer and gives consideration for employment to qualified applicants without regard to race, color, religion, sex, national origin, age, disability, genetic information, sexual orientation, gender identity or expression, pregnancy, veteran status, or any other legally protected characteristic. Wellby provides equal opportunity to qualified individuals with disabilities and disabled veterans. If you need a reasonable accommodation, please email View email address on click.appcast.io or call View phone number on click.appcast.io for assistance. #J-18808-Ljbffr