Supervisor, Asset Recovery

Description

Job Summary:

The Supervisor of Asset Recovery leads the Asset Recovery team, overseeing daily operations and ensuring effective recovery strategies for delinquent accounts, repossessions, foreclosures, and legal processes. This role supports team development, monitors performance, and upholds compliance with applicable laws and regulations. The Supervisor acts as a resource for staff and members, contributes to process improvements, and serves as backup to the Loss Mitigation and Asset Recovery Manager as needed.

Essential Job Duties:

Leadership:

• Recruit, onboard, develop, and retain high-quality staff in partnership with HR and Organizational Development.
• Directly oversee the daily workflow and responsibilities of Asset Recovery Specialists and Team Lead.
• Provide constructive feedback, conduct timely one-on-one meetings, and complete performance evaluations.
• Coach, mentor, and motivate staff to ensure departmental goals are met while maintaining service excellence.
• Foster a collaborative, supportive work environment that aligns with Credit Union values and promotes employee development.
• Ensure cross-training of staff in areas such as Mechanic’s Liens, Bankruptcies, Garnishments, Levies, and Liens.
• Support employee growth by addressing concerns, providing resources, and ensuring appropriate tools and training are in place.

Main responsibilities: 

• Oversee collection efforts, reviewing delinquent accounts and identifying strategies to mitigate losses, including foreclosure and repossession alternatives.
• Manage escalated member calls and provide specialized knowledge related to delinquency, loss mitigation, foreclosures, and secondary market mortgage servicing (FNMA & FHLB).
• Track recovery payments on charged-off accounts to ensure data accuracy.
• Review and recommend repayment solutions, including workout loans and internal debt management programs.
• Approve monthly attorney invoices and audit legal documents prior to legal proceedings.
• Ensure accuracy in the application of bankruptcy trustee payments.
• Handle credit bureau disputes for charged-off and bankrupt accounts to ensure compliance with the Fair Credit Reporting Act.
• Access and interpret force-placed insurance records and assist with claim filing.
• Develop, maintain, and continuously improve departmental procedures for efficient and compliant collection activities.
• Participate in projects, training, and procedural updates to enhance team performance and regulatory compliance.
• Serve as backup to the Loss Mitigation and Asset Recovery Manager, including preparing Board and Delinquency Reports, processing loan charge-offs, presenting workout solutions to committees, and attending meetings.
• Uphold strict confidentiality and security of member and Credit Union information.
• Contribute to maintaining a positive and productive working environment.
• Performs other duties as assigned.

Requirements

Required Skills/Abilities:

• Excellent interpersonal and negotiation skills, with the ability to handle sensitive situations professionally and de-escalate conflicts.
• Strong organizational skills and attention to detail.
• Ability to manage multiple priorities effectively and meet deadlines.
• Strong analytical and problem-solving skills, with the ability to research and resolve complex issues.
• Ability to learn and utilize multiple software systems, including third-party collection platforms.
• Clear and effective verbal and written communication skills, with the ability to explain collection and lending concepts to diverse audiences.
• Demonstrated ability to train and mentor others.
• High level of integrity, sound judgment, and decision-making ability.

Knowledge:

• Strong proficiency with Microsoft Office applications.  
• In-depth understanding of collection laws and regulations, including the Fair Debt Collection Practices Act, Fair Credit Reporting Act, Uniform Commercial Code (UCC), and bankruptcy proceedings.
• Strong knowledge of foreclosure processes and troubled loan modifications (TLM).
• Knowledge of secondary market loan servicing requirements (FNMA & FHLB).
• Thorough knowledge of consumer and mortgage lending, underwriting, Credit Union products, and services.
• Experience with collections on loans involving repossession, litigation, judgments, and garnishments.

Education and Experience:

• Minimum 5 years of collections, supervisory, repossession, civil litigation, lending, or related experience.
• Minimum bachelor’s degree or certification in business administration or related field, or more than 5 years of direct experience. 

Physical Requirements:

Prolonged periods of sitting at a desk and working on a computer.

Must be able to lift 20 pounds at times.