Bankruptcy and Recovery Specialist

MERITRUST CREDIT UNION•Broomfield, CO

11d•$26 - $33•Onsite

About The Position

We recognize that in order to meet the needs of our communities, we must represent our communities. Our success relies on creating a culture where we have diverse perspectives and a true sense of belonging. This is a journey, and we pledge to do more than simply check the box. When you join the Meritrust team, your benefits will include: Comprehensive medical insurance plan Dental and vision insurance Generous paid-time-off 12 paid holidays Annual bonus (based off of annual results/scorecard each year) 401(k) plan Wellness program Tuition assistance Employee loan discount Employee Assistance Program (EAP) Life and disability coverage What sets working for Meritrust apart? Career development and pathing opportunities to move into leadership roles or other lines of business within MCU such as Commercial Lending, Finance, Marketing, Underwriting, Member Solutions, Training, Human Resources, and more. Supportive and engaging work environment. A wellness and sustainable work culture that puts family, Mother Nature, our community, and your health first. A work environment that encourages personal as much as professional growth, teamwork to make the dream work, and treating everyone equally. Studies have shown that individuals from marginalized and or historically underrepresented groups may be less likely to apply for jobs unless they meet every one of the qualifications listed. We are most interested in finding the best candidate for the job. We would encourage you to apply for a job at Meritrust Credit Union, even if you don’t meet every one of our qualifications listed. Responsible for mitigating losses for the credit union. Maintain compliant account maintenance by documenting the system for all legal and recovery items received daily, including posting of funds received. Transfer records into secured electronic storage sites. Prepare required documents for our attorney. Collaborate with assigned counsel on legal and bankruptcy members.

Requirements

High school diploma or equivalent required.
Minimum 4–5 years of advanced collections, bankruptcy, recovery, or legal support experience within a financial institution or legal environment.
Experience managing complex bankruptcy cases and repossession portfolios required.
Expert understanding of bankruptcy processes, repossession regulations, and recovery strategies.
Strong working knowledge of FDCPA, FCRA, SCRA, UDAAP, and other applicable laws.
Proficiency in Microsoft Office Suite (Word, Excel, Outlook).
Strong written and verbal communication skills.
Ability to explain complex bankruptcy or repossession processes to members.
Ability to analyze complex financial, legal, and asset data.
Attention to detail with accuracy in documentation and reporting.
Ability to handle high volume and complex files.
Excellent time management and prioritization.
Demonstrates initiative and ownership of complex cases.

Nice To Haves

Associate or bachelor’s degree in business, legal studies, or finance preferred.
Advanced training or certification in bankruptcy, collections, or asset recovery strongly preferred.
Experience Required Court appearance or litigation support experience preferred.
Familiarity with litigation procedures, skip tracing tools, and collateral valuation.
Skilled in communication with trustees, attorneys, and court personnel.
Strong vendor management and negotiation skills.
Root cause analysis for recover gaps or loss trends.
Risk assessment and loss mitigation planning.
Organizational Skills: Ability to manage deadlines related to court filings, repossessions and compliance.
Collaboration Skills: Ability to mentor or guide junior recovery staff.
Cross functional collaboration with legal, lending, collections, and compliance teams.
Strong decision making in high risk or time sensitive situations.
Ability to use collection systems, skip tracing tools, and multiline phone systems.

Responsibilities

Maintain accounting for accounts that are being service by outside counsel or vendors.
Accurate posting of payments and record keeping in the core system, credit card system, and maintaining record keeping in the collection software.
Enter the Akcelerant system and place flags on accounts, update status and add memos to the appropriate account on the core as directed by the job duties or management.
Review and maintain accurate invoices on legal and bankrupt accounts.
Perform in depth account research for account resolution.
Prepare and submit legal packets for credit union counsel or outside collection agencies and attorneys.
Process and balance attorney, trustee, and collection agency payments while recording them in the collection software.
Maintain accurate record-keeping to maintain compliance as required by credit union policies and federal regulations.
Prepare the bankruptcy claims and copies of the bankruptcy and judgment accounts turned to Credit Union attorney.
Assist in reviewing accounts that have filed bankruptcy and proceed with appropriate action.
This includes collaborating directly with members and attorneys in various stages of bankruptcy.
Process collection department receivable adjustments.
Complete research as needed when member has a request or feels there might be an error and discuss findings with management.
Maintain acceptable SLA’s by handling portal requests in a timely manner.
Review and analyze to ensure all rights of setoff have been executed, prepare reporting, and execute depository charge off weekly, loan charge off monthly.
Work with financial counseling agencies to maintain workout agreements.
Collaborate with attorneys to obtain replevins, quiet titles, title histories, and judgements.
Contact, initiate and sell members on doing a workout loan after their repossession has been sold to help them maintain membership and reduce credit union losses.
Maintain good relationships with vendors.
Maintain confidentiality in all Credit Union and member matters.
Present a positive image of the Credit Union to members through a professional appearance and courteous attitude.
Complies with all federal, state, and organizational policies, procedures, and processes, including (but not limited to) the Bank Secrecy Act (BSA), Patriot Act, Office of Foreign Assets Control (OFAC), Federal Debt Collection Practices (FDCP), Service members Civil Relief Act (SCRA), Unfair Deceptive or Abusive Acts and Practices (UDAAP) and robbery procedures
Perform other duties as assigned by supervisor.

Benefits

Comprehensive medical insurance plan
Dental and vision insurance
Generous paid-time-off
12 paid holidays
Annual bonus (based off of annual results/scorecard each year)
401(k) plan
Wellness program
Tuition assistance
Employee loan discount
Employee Assistance Program (EAP)
Life and disability coverage
Career development and pathing opportunities to move into leadership roles or other lines of business within MCU such as Commercial Lending, Finance, Marketing, Underwriting, Member Solutions, Training, Human Resources, and more.
Supportive and engaging work environment.
A wellness and sustainable work culture that puts family, Mother Nature, our community, and your health first.
A work environment that encourages personal as much as professional growth, teamwork to make the dream work, and treating everyone equally.