Senior Bankruptcy Specialist

If you are motivated and believe in the credit union philosophy of "People Helping People," join our team!

Position Overview

Responsible for overall management of Non-Performing Loan Administration – Non-Contact Administration and loan account servicing in compliance to credit union's policy and procedures and applicable legal rules and federal, state, and local regulations. Position is responsible for the performance and control of bankrupt loan accounts assigned workflow and follow up. Makes and takes telephone calls regarding bankrupt loan accounts assigned and maintains accurate records on bankrupt loan accounts serviced. Responsible for maximizing the collection and/or recovery of credit union or investor/insurer assets from processing timely bankruptcy actions. Ensure all Credit Union members receive quality service, courteous treatment, and accurate information. The right candidate for this role is naturally curious, will enjoy creative problem solving and thrives assisting members and SECU service providers.

Responsibilities

• Responsible for assigned workflow and meeting or exceeding key performance requirements and metrics as established by management.
• Responsible for bankruptcy communication activity on all consumer and/or mortgage loans assigned, with an emphasis on transitioning accounts out of bankruptcy timely to maximize recovery. Send statements and letters as required including annual escrow analysis, notice of payment change, notice of fees assessed during bankruptcy case, Loss Mitigation notices and options to debtor’s counsel and reconciliation of final accounting of payments made during the bankruptcy case.
• Responsible for Bankruptcy Processing of loans in compliance with SECU, Freddie Mac, Fannie Mae and/or MI requirements and take appropriate action to refer for collateral protection to preserve asset, when applicable.
• Responsible for clearly communicating available assistance and loss mitigation options/statuses to debtor’s attorney or member borrowers and referring for fulfillment, when applicable.
• Responsible for updating every member account interaction in the loan operating systems of record including bankruptcy tracking dates, notes, tasks, steps, pre and post-petition payments timely and accurately for assigned workflow.
• Responsible for imaging all related documents timely and accurately to system of record for storage of electronic bankruptcy records.
• Accurately and timely process documents for appropriate SECU signature in support of Proof of Claims (POC) including amendments and supplemental in advance of the claim bar date, Motion for Relief (MFR), Adversary proceedings including potential cramdowns, payoff requests, reinstatement requests and other legal documents or financial figures in support of the Bankruptcy case to SECU service provider.
• Accurately and timely process Default Reporting Bankruptcy status to Freddie Mac, Fannie Mae, and MI.
• Fulfills Bankruptcy processing according to SECU policy, procedures, and investor/insurer requirements.
• Completes the recommendation of charge offs timely and accurately according to policy and procedures.
• Reviews checks or loan suspense/unapplied account for assigned workflow and takes action to post funds timely/accurately to the member’s account or return including pre-petition, post-petition member and trustee payments.
• Process requests related to work out plans, notice of claim documents related to Deceased member accounts and validates members are not Active-Duty Military.
• Lien Tracking and Protection related to Junior Lien accounts in portfolio.
• Collaborates with other areas of the credit union including operations to research, identify and correct processing and payment application errors.
• Identifies and submits recognition of employees and positive member interaction success stories to management.
• Ensure that all communication and processing activity comply with credit union's policy and procedures and applicable legal rules and federal, state, and local regulations.
• Participate in promotion of an inclusive and innovative work environment.
• Completes timely all assigned Cornerstone and other job specific training.
• Other duties as assigned by management.
  
  

Qualifications

Required Education

High School diploma or equivalent. Advanced education preferred including Bachelor’s degree or equivalent work experience. Additional three years of relevant experience can be considered in lieu of degree.

Required Relevant Experience

3 years

Required Knowledge, Abilities, Skills

• Demonstrated experience with including working knowledge of the loan operating systems preferred; including but not limited to PACER, ICE/MSP, ALS, NICE and OnBase.
• Strong PC skills required including working knowledge of Microsoft Office Suite including Word and Excel.
• Working knowledge of basic financial administration principles; Planning, Budgeting, Evaluating Financial Data.
• Possesses a positive telephone presence ensuring a pleasant member interaction.
• Ability to handle multiple tasks, while meeting deadlines and maintaining quality levels.
• Demonstrates flexibility in responding to changes in assignment and job responsibility in a dynamic environment.
• Familiarity with and knowledge of SECU applicable policy and procedures including relevant Freddie Mac, Fannie Mae and/or MI servicing guidelines preferred.
• Familiarity with and knowledge of pertinent local, state, and federal laws and regulations including Bankruptcy laws and FDCPA.
• Demonstrate professionalism in dress, tone, flexibility, and communication.
• Consistently act as part of a cohesive team, demonstrating excellent interpersonal skills and the ability to interact positively with other SECU employees and service providers.
• Maintain open and respectful communication with members; shows empathy and respect in all interactions.
• Keen attention to detail
  
  

Desired Education, Experience, Knowledge, Abilities, Skills

Applicants with advanced degree in Business, Finance, Accounting, or a related field may be given priority. Working Conditions; Work is performed in an office setting, hybrid or remote.

Special Position Requirements

• Sitting for prolonged periods
• Telephone for prolonged periods
• Computer for prolonged periods
• Excellent verbal and written communication skills
  
  

SECU provides equal employment opportunity to all qualified persons regardless of race, color, religion, age, sex, sexual orientation, gender identity, national origin, genetic information, disability, veteran status, or other classification protected by law.

Disclaimer

State Employees' Credit Union reserves the right to fill this role at a higher/lower level based on business need.