Asset Management Specialist

Our client is currently seeking an Asset Management Specialist


Asset Management Specialist - Job Description

General Description

Performs as an experienced, well-developed, and trained Member Care representative with advanced communication and negotiation skills when interacting with members for prompt resolution of delinquent accounts. This role minimizes our non-performing asset accounts and promotes account retention.

The Asset Management Specialist is responsible for managing vendor relationships and coordinating the repossession, reinstatement, and sale of vehicles. Duties include processing proceeds, handling refunds and payments, negotiating auto auction sales, and managing stored vehicles subject to lien sales.

Tasks, Duties & Functions

Member Care & Negotiation

• Ability to perform all duties of a Member Care Rep I, II, and Escalations as needed.
• Contact members by phone using advanced negotiation skills to generate acceptable and sometimes sophisticated repayment plans.
• Negotiate with members to resolve delinquent accounts, discuss financial arrangements, inform them of potential legal actions, and suggest financial counseling.
• Possess a high level of knowledge in all Member Care specialty areas (negative shares, repossessions, suits, bankruptcies).

Asset Management & Vendor Coordination

• Coordinate with multiple vendors to repossess, reinstate, and sell vehicles per our policy and procedures.
• Assign adjusters to pick up stored vehicles or vehicles at risk due to lien sales.
• Process repossession reinstatement and redemption requests.
• Negotiate bids for auto auction sales and set floor prices for collateral sales.
• Possess thorough understanding of charge-off accounts and the related expulsion process.

Compliance & Documentation

• Maintain thorough understanding of state and federal laws related to credit union compliance, including bank secrecy and anti-money laundering laws.
• Thoroughly review and document account summaries on all actions taken (calls, arrangements, letters).
• Process proceeds from sales; write check requests for refunds or posting payments to reinstate vehicles.
• Establish and maintain records relating to restricted delinquent or negative accounts.
• Maintain high knowledge of departmental procedures.

Member & Department Support

• Maintain positive relations with members, departments, and branches while discussing sensitive financial circumstances tactfully.
• Possess proficient knowledge of other Credit Union products, procedures, and systems.
• Assist with escalated calls from members, branches, and staff as needed.
• Assist Manager/Supervisor with special tasks or projects.
• Research and respond to inquiries regarding delinquent loans and account issues.
• Monitor compliance with credit union policies and Fair Debt Collection Practices.
• Assist in overseeing the department during manager or supervisor absence.
• Support all areas of the Collection Department when needed.
• Meet performance standards in all areas of the collection process.
• Other duties as assigned.

Physical Skills & Abilities

• Effective oral and written communication skills for member interaction and follow-up.
• Manual dexterity to operate computer terminals and standard office equipment.

Organizational Contacts

Internal: Branch management, staff, Payroll Deduction, Electronic Services, Centralized Lending, Records Management, Compliance & Risk Management.
External: Members, law enforcement agencies, judicial departments, peer collectors, and other groups involved in resolving delinquent accounts.

Qualifications

Education

• High school diploma required.

Experience

• Three or more years performing collection duties at a financial institution.
• Experience with delinquent auto loans.

Knowledge / Skills

• Strong verbal and written communication skills.
• Familiarity with office equipment (fax, ten-key, electronic banking equipment, VISA terminal).
• Knowledge of Credit Union and collection rules, regulations, policies, and procedures.