Recoveries Specialist III

Overview

Handle specialized populations and administrative duties associated with loss recovery. Apply various analytical techniques to solve complex general ledger discrepancies. Serve as a subject matter expert for all business functions, systems, policies and/or procedures, and reporting.

Responsibilities

• Performs administrative duties in support of the LCR Counselors, Recoveries portfolio and outsourcing efforts
• Review and analyze information in various automated collection systems and supportive applications and determine appropriate action to maintenance accounts
• Gathers and compiles data and/or documents for account research purposes for use when answering Member Concerns, correspondence, OGC requests, debt buyer or attorney inquiries
• Maintains and processes repayment plans on a designated portion of the Recoveries portfolio
• Researches and fulfills Debt Validation requests submitted by the member, management, OGC or compliance
• Perform research to fulfill document requests and complete interrogatories, complaints and/or requests for production of documents
• Analyze financial and operational results, investigate variances, and communicate findings to management; develop management presentations as needed
• Evaluate daily reports to identify patterns or areas of improvement related to make recommendations to leadership for changes and improvements in operational processes, procedures, policies, etc. to enhance operational performance
• Serve as liaison between LCR, First Party Agencies, debt sale buyers, attorneys, OGC, internal teams, and/or management to answer questions, address inconsistencies, resolve issues, and make recommendations
• Maintain and monitor recovery files including internal documents, communication with outside vendors, and/or scheduled court dates and witnesses
• Handles data review and system maintenance for litigation, sold accounts and/or debt sale buybacks
• Monitor recorded calls from First Party Agencies to ensure all Quality Assurance requirements are met
• Reviews general ledgers, identifies sold or litigation account remits, compiles payment files and submits Cash Disbursement Voucher requests for payout to the debt buyer or attorneys
• Prepare debt sale buyback files and coordinate with the buyer on the account transfer process
• Reviews list of payments to ensure that the automated collection systems reflect the proper crediting of payments received from debtors or attorneys
• Develop and implement procedural documents and job aids for internal and business use
• Monitor attorneys' assigned accounts to determine litigation status and continued cost effectiveness; inform attorneys of applicable and specific legal matters and the impact on the Credit Union
• Assists the Data Control, General Accounting, Credit Card Support, and Credit Card Services Branches to balance the various automated collection systems with the charged-off accounts general ledgers
• Conduct audits to ensure accuracy and deadline requirements are met for daily error reports
• Identify and investigate complex discrepancies or processing problems related to payments to charged off losses
• To act as Collections representative, witness, and Custodian of the Records for the Credit Union in mediations, trials, and depositions for Civil cases
• Serve as business functions' subject matter expert, including providing training and guidance for successful knowledge transfer within the section and department
• Serve on teams and task groups for projects/initiatives within the business unit and/or across the organization
• Identify or review compliance issues; assist supervisor with implementing corrective procedures/action
• Audit member communications through various channels to ensure appropriate SLAs are met to optimize member service
• Researches the Recoveries general ledger error reporting to re-direct payments to the appropriate accounts
• Investigate, resolve and/or escalate complex discrepancies, data entry errors and out of balance situations; prepare and present recommendations for immediate action or proposals for policy changes to prevent losses
• Review documentation and complete affidavits on behalf of Navy Federal Credit Union for debt buyers or attorneys
• Create and compile reporting using intermediate to high level knowledge of Microsoft applications such as Excel and PowerPoint
• Partner with other business units and vendors to improve procedures, resolve problems, and implement initiatives, present conclusions, and recommendations to management
• Collaborate with other business units to gain an understanding of transactions, processes and procedures, their impact on other business units processes and procedures, and identify risk potential for fraudulent activity
• Perform other duties as assigned

Qualifications

• Advanced knowledge of collection or recovery processes
• Ability to proficiently and expeditiously review, comprehend and analyze written material
• Proficient verbal and written communication skills
• Advanced skill maintaining accuracy with attention to detail and consistently meeting deadlines
• Advanced interpersonal skills and the ability to collaborate with both internal and external contacts, respond to requests regarding complex financial information/data and make decisions based on findings
• Advanced experience working both independently and in a team environment to include mentoring/guiding teammates
• Ability to exercise assertiveness, self-confidence, and initiative
• Working knowledge of Navy Federal organizational structure, products, services, policies, and procedures
• Advanced experience corresponding with external vendors and/or contractors to collaborate and discuss process improvements or make recommendations
• Advanced experience using Microsoft Office products to create complex reporting, data compilation and presentations
• Proficiency with recovery functions within CACS, all systems related to transaction research and advanced knowledge balancing the general ledgers
• Ability to analyze, test and implement new processes and/or systems

Desired Qualifications

• Familiarity with the various automated collection systems utilized by NFCU
• Expert-level knowledge in Recoveries or Collections
• Advanced knowledge of Navy Federal's functions, philosophy, operations, and organizational objectives

Additional Information

Hours:

• Monday - Friday, 8:00AM - 4:30PM

Location:

• 5510 Heritage Oaks Drive, Pensacola, FL 32526

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