Recovery Solutions Specialist

Description:

The Recovery Solutions Officer is responsible for managing and reducing delinquency across all loan types, ensuring compliance with internal policies and regulatory guidelines. This role involves proactive member contact, accurate documentation, skip tracing, processing claims, and coordinating repossessions while maintaining excellent member service.

Essential Duties & Responsibilities

Delinquency Management & Collections

• Review the status of delinquent accounts (0 days and above) and initiate appropriate collection actions according to the due date.
• Make at least 75–100 collection calls per day (outgoing/incoming combined).
• Monitor and collect on past-due loans, credit cards, negative balances, first-payment defaults, and all other account types.
• Record all collection activities, member communication, and follow-up in the collection queue.
• Respond to member inquiries via phone, email, and chat with professionalism and a positive attitude.
• Research payroll deductions, starts/stops, and changes that may impact repayment status.
  
  

Repossession, Legal, & Recovery Actions

• Send legal repossession letters at 50 days delinquent as required by policy.
• Prepare repossession assignment files, including Accurint searches, loan owner information, credit reports, and family skip contacts.
• Conduct skip tracing on delinquent accounts.
• After repossession, send the required Notices of Sale and report the repossession to the credit bureaus.
• After the vehicle is sold, prepare and communicate deficiency balances to members.
• Maintain accurate repossession logs, charge-off lists, and related recovery documentation.
• Respond to mechanic’s lien notices.
• Process garnishment write-offs and handle child support notices.
• Document and monitor all bankruptcy filings.
• Charge off negative balances.
• Report members to ChexSystems when applicable.
• Close member accounts when charged off and place appropriate memos on the accounts.
  
  

Claims, Insurance, & Member Disputes

• File disability and life insurance claims.
• File total loss claims and GAP claims.
• Research and respond to member credit reporting disputes through E-Oscar.
• Work with consumer credit counseling agencies on member repayment agreements.
  
  

Payments, Extensions, & Account Maintenance

• Process ECM payments and ensure proper posting.
• Prepare and process loan extensions and modifications in accordance with credit union policy.
• Secure and review credit bureau reports as needed.
• Update all files and ensure accurate documentation within the credit union’s recovery system.
  
  

Member Service & Cross-Selling

• Provide clear and courteous assistance to members regarding loan issues, disputes, or recovery actions.
• Research and resolve routine member questions, concerns, and complaints.
• Cross-sell credit union products, services, and promotions when appropriate.
  
  

Note:

This job description outlines the general nature and level of work performed by team members in this role. It is not intended to be an exhaustive list of all duties, responsibilities, or qualifications.

About Us:

MPS Credit Union was created in 1928 for the sole purpose of providing financial services to our owner- members, MPS Credit Union has grown from those early years into a highly competitive mid-size credit union through a wide arrange of financial products and services. Our credit union is member oriented, professional, collaborative, and supportive, our mission is to “provide accessible and affordable financial products and services to our members and local underserved communities, empowering individuals and improving their lives through financial literacy, collaboration, and innovation. We aim to be a trusted partner in their financial journey.”

Our Work Environment Includes:

• A workplace of diversity and inclusion
• Employee empowerment
• On-the-job training
• Company perks - Recognitions and Rewards
• Growth and Developmental opportunities
• Clear purpose and meaningful work
• Health and Wellness benefits | Full Time team members
  
  

Benefits:

• 401(k)
• 401(k) matching
• AD&D insurance
• Dental insurance
• Disability insurance
• Employee assistance program
• Employee discount
• Health insurance
• Life insurance
• On-the-job training
• Opportunities for advancement
• Paid sick time
• Paid time off
• Paid training
• Referral program
• Vision insurance
  
  

Work Location: In person

Job Type: Full-time

Benefits:

• 401(k)
• 401(k) matching
• Dental insurance
• Health insurance
• On-the-job training
• Paid time off
• Referral program
  
  

Requirements:

• Strong communication and negotiation skills.
• Ability to manage high call volume effectively.
• Detail-oriented with excellent documentation and organizational skills.
• Knowledge of repossession, collections, bankruptcy, and insurance claim procedures.
• Proficient in skip tracing tools such as Accurint.
• Ability to work independently, prioritize tasks, and meet deadlines.
• Familiarity with credit bureau disputes (E-Oscar) and collection systems
  
  

Experience:

• Customer service: 2 years (Required)
• Collections: 1 year (Required)
• Negotiation: 1 year (Required)
• Banking: 1 year (Preferred)
• Financial services: 1 year (Preferred)
• Call center: 1 year (Preferred)
  
  

Language:

• English and Spanish at a professionally fluent level (Required)
  
  

Ability To Commute:

• Miami, FL 33122 (Required)