Bankruptcy Account Specialist

Job Title: Bankruptcy Accounts Specialist

Duration: 6 months contract - can extend

Locations: Vienna, VA (hybrid)

Description:

• The Bankruptcy Accounts Specialist is responsible for maximizing recovery of bankrupt accounts through negotiation, reaffirmation, legal proceedings, fraud detection, and collection efforts. This role serves as a liaison for OGC and outside legal counsel on bankruptcy litigation or adversary complaints, provides specialized servicing of charged-off mortgage loans, and acts as a subject matter expert regarding section functions, systems, policies, and procedures.

Responsibilities:

• Analyze accounts included in bankruptcy for potential abuse and/or fraud to determine if litigation is warranted to protect NFCU's interest and reduce financial loss.
• Monitor attorneys assigned to accounts to determine the status of litigation; advise attorneys of any legal issues and their impact on NFCU.
• Process and distribute time-sensitive legal documents, notifications of suits against NFCU, Cease and Desist for both filer and non-filer, and third-party communications to ensure compliance with Bankruptcy Laws and minimize the risk of litigation.
• Review bankruptcy docket reports and analyze accompanying schedules, with emphasis on Statement of Intent for Chapter 7 and Plan information for Chapter 13, to determine the impact on NFCU.
• Communicate with attorneys, trustees, members, agents, title companies, and various third-party and internal/external groups regarding bankruptcy.
• Negotiate attorney fees and recommend approval to Supervisor.
• Analyze Chapter 7, 11, and 13 bankruptcy filings to determine the potential for asset recovery.
• Initiate the appropriate course of action for asset recovery based on collateral, cross-collateral potential, and non-filing parties in accordance with State repossession laws.
• Represent or retain outside legal counsel to represent NFCU at court proceedings.
• Manage legal notifications (e.g., Mechanic's Liens, Adversary Complaints, Lift of Stay, Motions to Avoid Lien, Motions to Value, Judgment Liens, Plan Confirmation, etc.) and determine the appropriate course of action.
• Negotiate Short Sale requests, settlements, and reaffirmations based on bankruptcy disposition.
• Process charged-off bankruptcy impaired equity loans, facilitate Proof of Claims, and review motions.
• Monitor bankruptcy progression for adherence to repayment and update NFCU systems to ensure accurate reporting.
• Pursue fraud cases through the court system for Non-Discharge and Objections to Discharge.
• Evaluate bankruptcy cases and determine collateral market values; file Proof of Claim with the appropriate court on all asset cases.
• Maintain knowledge of and ensure compliance with applicable federal and state laws, rules, regulations, and NFCU policies and procedures.
• Assist with reviewing escalated member issues and determine the appropriate course of action to resolve them.
• Perform other duties as assigned.

Qualifications:

• Working knowledge of applicable federal and state laws, rules, and regulations.
• Experience in financial counseling, negotiating, and explaining decisions to members.
• Experience in financial transaction/processing-related responsibilities.
• Ability to work independently and in a team environment.
• Experience working with all levels of staff, management, stakeholders, and vendors.
• Experience interacting with attorneys, courts, or trustees.
• Ability to comprehend, analyze, interpret, communicate, and apply government and financial industry regulations, related principles and practices, and company instructions, procedures, and policies.
• Ability to maintain confidentiality and demonstrate integrity.
• Desired: Familiarity with the systems and software used by the Lending Collection Division.
• Desired: Familiarity with NFCU functions, philosophy, operations, and organizational objectives.
• Desired: Familiarity with NFCU products, services, processes, policies, and procedures.
• Effective skill exercising initiative and using good judgment to make sound decisions.
• Effective skill following, interpreting, and applying relevant data/instructions to guidelines, procedures, practices, and regulations.
• Effective member/customer service skills.
• Effective skill interacting tactfully and effectively in difficult situations.
• Effective research, analytical, and problem-solving skills.
• Effective skill building effective relationships through rapport, trust, diplomacy, and tact.
• Effective skill assimilating information, analyzing facts, and developing logical conclusions.
• Effective organizational, planning, and time management skills.
• Effective skill to influence, negotiate, and persuade to reach agreeable exchange and positive outcomes.
• Effective verbal and written communication skills.
• Effective database, word processing, and spreadsheet software skills.

Desired: College-level courses with concentration in Accounting, Finance, Business, or a related field