Recovery Agent

Recovery Agent                 

The Recovery Agent's main purpose is to minimize loss on severely delinquent accounts through negotiations, repossession and other available options.

REPORTS TO: Recovery Manager 

DUTIES AND RESPONSIBILITIES:

• Maintain a working knowledge of state and federal laws that apply to commercial repossession, including impacts of bankruptcy.
• Analyze contracts transferred to Recovery for collectability and feasibility of remedies.
• Attempt to negotiate repayment terms, within approval authority guidelines.
• Coordinate repossession and remarketing of equipment nationwide when feasible or determine when to abandon.
• Follow up on recovery of equipment through bankruptcies.
• Determine when to transfer contracts to internal legal department.
• Accountable for minimizing costs, while maximizing recoveries or reducing losses.
• Responsible for updating problem loan statuses monthly.
• Perform other related duties as assigned by management.

SUPERVISORY RESPONSIBILITIES:

QUALIFICATIONS:

• Associate's Degree (A.A) from two-year College or university, or 6 months to one year of related experience and/or training, or equivalent combination of education and experience.
• Computer skills required: (Contract Management Systems; Microsoft Office) 
• Other skills required: 

1. Effective communicator, both verbally and written
2. Well organized
3. Self-motivate
4. Good listening skills
5. Excellent telephone etiquette

COMPETENCIES:

• Ethics - Treats people with respect; Keeps commitments; inspires the trust of others; Works with integrity and ethically; Upholds organizational values.
• Adaptability - Adapts to changes in the work environment; Manages competing demands; Changes approach or method to best fit the situation; Able to deal with frequent change, delays, or unexpected events.
• Analytical - Synthesizes complex or diverse information; Collects and researches data; Uses intuition and experience to complement data; Designs work flows and procedures.
• Attendance/Punctuality - Is consistently at work and on time; Ensures work responsibilities are covered when absent; Arrives at meetings and appointments on time.
• Business Acumen - Understands business implications of decisions; Displays orientation to profitability; Demonstrates knowledge of market and competition; Aligns work with strategic goals.
• Change Management - Develops workable implementation plans; Communicates changes effectively; Builds commitment and overcomes resistance; Prepares and supports those affected by change; Monitors transition and evaluates results
• Delegation - Delegates work assignments; Matches the responsibility to the person; Gives authority to work independently; Sets expectations and monitors delegated activities; Provides recognition for results.
• Dependability - Follows instructions, responds to management direction; Takes responsibility for own actions; Keeps commitments; Commits to long hours of work when necessary to reach goals; Completes tasks on time or notifies appropriate person with an alternate plan.
• Interpersonal Skills - Focuses on solving conflict, not blaming; Maintains confidentiality; Listens to others without interrupting; Keeps emotions under control; Remains open to others' ideas and tries new things.
• Judgement -Exhibits sound and accurate judgment; Supports and explains reasoning for decisions; Includes appropriate people in decision-making process; Makes timely decisions.
• Oral Communication - Speaks clearly and persuasively in positive or negative situations; listens and gets clarification; Responds well to questions; Demonstrates group presentation skills; Participates in meetings.
• Organizational Support - Follows policies and procedures; Completes administrative tasks correctly and on time; supports organization's goals and values; Benefits organization through outside activities; Supports affirmative action and respects diversity.
• Planning/Organizing - Prioritizes and plans work activities; Uses time efficiently; Plans for additional resources; Sets goals and objectives; Organizes or schedules other people and their tasks; Develops realistic action plans.
• Problem Solving - Identifies and resolves problems in a timely manner; Gathers and analyzes information skillfully; Develops alternative solutions; Works well in group problem solving situations; Uses reason even when dealing with emotional topics.
• Professionalism - Approaches others in a tactful manner; Reacts well under pressure; Treats others with respect and consideration regardless of their status or position; Accepts responsibility for own actions; Follows through on commitments.
• Quality - Demonstrates accuracy and thoroughness; Looks for ways to improve and promote quality; Applies feedback to improve performance; Monitors own work to ensure quality.
• Quantity - Meets productivity standards; Completes work in timely manner; Strives to increase productivity; Works quickly.