Asset Quality & Recovery Specialist

Job Description

Job Description

Asset Quality & Recovery Specialist

40 Hours (Full Time)

Monday - Friday (8am - 5pm)

Headquarters

630 Trade Center Drive

Las Vegas, NV

PURPOSE:

The primary purpose of this position is to assist Silver State Schools Credit Union to live out its Mission, "Excellent Member Service and Financial Solutions - For Life," while "Placing People over Profit" and providing outstanding service to both external and internal members.

• To deliver service in alignment with our Service Commitments:
• I will earn respect and build trust by acting with integrity in every situation.
• I will understand my role in supporting the team to achieve our purpose.
• I will focus on people over products and build lasting relationships.
• I will take ownership and accept responsibility.
• I will treat my coworkers with the same high standards as I treat my member.
• I will continuously look for ways to improve myself, my Credit Union, and my community.
• I will accept there is no "they." We are one working toward the same mission.
• I will commit to the core values.
• Meet all established service goals.

Summary:

The Asset Quality & Recovery Specialist serves as a subject matter expert supporting all operational functions within the Credit Resolutions Department. This position provides advanced technical support across collections, bankruptcy administration, legal recovery actions, loss mitigation, foreclosure processes, repossession management, collateral liquidation, and post charge-off recovery activities.

This role supports the management and resolution of delinquent and charged-off loan portfolios across consumer, real estate, and commercial lending segments. The Specialist evaluates complex delinquent and defaulted loan situations requiring analysis, negotiation, and strategic decision-making to minimize financial loss and protect the Credit Union's asset quality. The position operates with a high degree of independent judgment while collaborating with members, attorneys, courts, and third-party vendors to resolve high-risk credit situations in compliance with all applicable federal and state regulations.

Through comprehensive knowledge of the default management lifecycle-from early-stage delinquency through legal recovery and asset liquidation-this position supports departmental continuity, assists with complex case resolution, and contributes directly to the Credit Union's financial stability and risk mitigation efforts. Decisions and recommendations made in this role directly influence delinquency levels, charge-off ratios, recovery outcomes, and overall asset quality.

Essential duties and responsibilities include the following but are not limited to:

Credit Resolution & Loss Mitigation

• Manage and support delinquent and at-risk loan portfolios across consumer, real estate, and commercial lending segments to minimize loss exposure and protect asset quality.
• Evaluate complex and high-risk delinquent loan scenarios and determine appropriate resolution strategies including repayment plans, loan modifications, forbearance agreements, short sales, deed-in-lieu arrangements, foreclosure alternatives, and charge-off recovery actions.
• Analyze member financial situations and recommend solutions that reduce delinquency and mitigate potential losses.
• Underwrite, structure, and administer member workout solutions in accordance with Credit Union policies, investor guidelines, and regulatory requirements.
• Oversee and coordinate foreclosure proceedings and OREO activities, ensuring compliance with legal, regulatory, and investor requirements.
• Administer and monitor PMI delinquency reporting, claims processing, and delinquent property tax tracking to ensure timely risk mitigation.
• Manage OREO assets including preservation, valuation, marketing, and disposition in coordination with approved vendors.

Bankruptcy & Legal Case Management

• Administer and manage all phases of the bankruptcy lifecycle including case validation, proof of claim preparation, reaffirmation agreements, payment monitoring, and court documentation.
• Direct case progression through coordination with legal counsel to ensure timely filings, responses, and resolution of legal matters.
• Prepare, review, and execute legal recovery documentation including judgments, liens, garnishments, and writs of execution.
• Represent the Credit Union in legal proceedings including small claims, civil, and bankruptcy hearings as required.
• Ensure compliance with all applicable federal and state regulations including FDCPA, CFPB, RESPA, ECOA, FCRA, FACTA, and applicable Nevada laws.

Repossession & Collateral Recovery

• Oversee repossession activities for consumer and commercial collateral in accordance with legal and regulatory requirements.
• Manage vendor relationships with recovery agents, auction partners, and remarketing vendors to ensure efficient collateral recovery and liquidation.
• Evaluate collateral value, condition, lien position, and recovery potential to determine optimal disposition strategies.
• Administer post-default recovery activities including insurance claims, reinstatements, redemptions, deficiency balances, and post charge-off collections.
• Negotiate and structure repayment arrangements and settlement agreements to maximize recovery outcomes.

Credit Reporting & Compliance

• Ensure accuracy and integrity of credit bureau reporting in accordance with Metro 2 standards and regulatory requirements.
• Monitor and enforce compliance with all applicable federal and state lending, servicing, and collections regulations.
• Analyze and report on delinquency trends, charge-offs, recoveries, and potential loss exposure to support management decision-making.
• Track and evaluate legal expenses, recovery costs, and vendor performance against departmental goals.
• Develop and update departmental procedures to reflect regulatory changes and operational best practices.

Subject Matter Expertise & Departmental Support

• Serve as a subject matter expert in bankruptcy, collections law, collateral recovery, and legal processes.
• Provide cross-functional support across all default servicing areas to ensure operational continuity and consistent resolution strategies.
• Review and provide guidance on complex, high-risk accounts to determine appropriate courses of action.
• Support training and knowledge development within the department to strengthen team capabilities.
• Collaborate with internal departments including Loan Servicing, Accounting, Compliance, and Legal to resolve complex issues and mitigate risk.

Member Communication & Financial Resolution

• Engage directly with members to resolve complex financial situations while balancing member needs and Credit Union risk.
• Communicate and negotiate resolution strategies in a clear, professional, and compliant manner.
• Ensure thorough documentation of all member interactions in accordance with regulatory and internal requirements.

Additional Responsibilities

• Perform additional duties and special projects as assigned to support departmental operations and the Credit Union's overall risk management and asset quality objectives.

COMPLEXITY & DECISION MAKING

This position requires independent evaluation of complex delinquent and defaulted loan situations involving legal, financial, and regulatory considerations. The role regularly analyzes collateral values, lien priority, legal remedies, and member financial circumstances to determine appropriate resolution strategies that minimize loss exposure while maintaining regulatory compliance. Exercises independent judgment in determining appropriate courses of action for high-risk and complex accounts with significant financial and regulatory implications.

Decisions made in this role directly impact the Credit Union's asset quality, recovery outcomes, and financial risk exposure.

REQUIRED KNOWLEDGE

Collections & Recovery

Comprehensive knowledge of default servicing practices including collections procedures, repossession laws, collateral liquidation, bankruptcy processes, foreclosure procedures, and post-judgment recovery actions.

Lending & Credit Union Operations

Strong understanding of consumer, mortgage, and commercial lending practices, loan servicing systems, and Credit Union policies governing delinquency management and loss mitigation.

Legal Documentation

Proficiency in legal terminology, documentation, and court processes associated with bankruptcy, civil litigation, repossessions, liens, garnishments, judgments, and collateral recovery actions.

Court Systems

Working knowledge of Small Claims, Civil, District, Circuit, and Bankruptcy Court processes including lien priority, deficiency recovery, and redemption rights.

Credit Reporting

Understanding of credit bureau reporting standards including Metro 2 reporting guidelines and dispute resolution processes.

PERFORMANCE STANDARDS :

Completes all assigned duties accurately, efficiently, and within established timelines.

Demonstrates professionalism, integrity and accountability in all communication, appearance, and conduct. Adheres to Credit Union policies, procedures, and compliance standards. Effectively contributes to the management of delinquent and charged-off loan portfolios to minimize loss exposure and support the Credit Union's asset quality objectives.

Works effectively within a team while maintaining accountability for individual performance.

Provides consistent, member-focused service with integrity, empathy, and supports Credit Union values.

QUALIFICATION REQUIREMENTS:

To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed below are representative of the knowledge, skill, and/or ability required. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions

To perform this job successfully an individual must demonstrate strong analytical ability, sound judgment, and the ability to manage complex financial and legal matters involving delinquent loans and asset recovery.

• Strong analytical, organizational, and time management skills with the ability to manage multiple complex cases simultaneously.
• Ability to exercise sound judgment when evaluating delinquent loan scenarios and determining resolution strategies.
• Strong negotiation and problem-solving abilities when working with members, attorneys, and vendors.
• Excellent written and verbal communication skills.
• High attention to detail and ability to interpret regulatory requirements and legal documentation.

EDUCATION & EXPERIENCE:

High school diploma required; Associate's or Bachelor's degree in Business, Finance, or related field preferred Five (5) or more years of experience in default servicing, collections, loss mitigation, bankruptcy, or asset recovery within a financial institution Demonstrated experience managing complex delinquent loan portfolios, including real estate and consumer lending Experience working with legal counsel, court systems, and third-party recovery vendors.

*ONLY FULLY COMPLETED APPLICATIONS WILL BE CONSIDERED*

**SEE RESUME ON APPLICATIONS WILL NOT BE CONSIDERED**

SILVER STATE SCHOOLS CREDIT UNION IS AN EQUAL OPPORTUNITY EMPLOYER (EOE)

DRUG-FREE WORKPLACE