VyStar Credit Union
Asset & Loss Mitigation Specialist
VyStar Credit Union, Jacksonville, Florida, United States, 32290
Overview
Asset & Loss Mitigation Specialist at VyStar Credit Union VyStar offers a competitive pay and an excellent benefit package including a 401(k) plan, extensive paid technical and on‑the‑job training, and tuition reimbursement for full and part‑time employees. Part‑time positions start at a minimum of 30 hours per week. VyStar is committed to helping its members while managing risk in our loan portfolio. Essential Functions
Code all consumer loans, business credit cards, consumer credit cards and deposit accounts (business and consumer) in the core system within one business day of notice receipt to ensure proper tracking and compliance with bankruptcy statutes. Coding supports internal notification procedures and adherence to regulations. Review bankruptcy notices in collaboration with attorneys, management, and members to take appropriate actions within specified time frames for VyStar’s interest, including petitions, claims, motions, affidavits, and schedules. Provide a monthly summary report outlining petitions received, processing times, and trends for management review. Recommend and prepare legal action to mitigate loss; support bankruptcy proceedings to obtain lift of stay prior to discharge to secure collateral on delinquent loans. Review Chapter 13 plans to ensure VyStar receives equitable treatment in repayment of secured debts; file necessary claims and make recommendations to file objections as appropriate. File, track, and maintain court documentation to protect VyStar’s interests; reconcile loan repayment records after confirmation in collaboration with the Sr. Loan Modification Coordinator. Ensure all post and pre‑petition amounts due are received for loans in Chapter 11/13 plans; provide operational support to Business Services by managing negative deposit accounts, business credit cards, and business loans in bankruptcy. Stay informed of PACER requirements and bankruptcy legislation; implement changes to internal policy and procedure as dictated by governing bodies. Negotiate with members after discharge for reestablishment of membership in compliance with bankruptcy laws; monitor and negotiate repayment for pay‑and‑retain situations to mitigate default risk. Prepare and assign account collateral for recovery to 3rd‑party recovery agencies, including assignments and Writs of Replevin to recover collateral daily. Access Chapter 13 Trustee site to monitor payments and disbursements when available. Provide skip tracing support to repossession agents to expedite collateral recovery. Process collateral recovered by 3rd parties into core processing and tracking systems; accurate coding is essential to prevent regulatory violations. Communicate with VyStar members regarding recovery of collateral, redemption periods, and liquidation in accordance with statutes. Offer alternatives to repossession when appropriate, leveraging lending and modification processes for hardship cases. Maintain verbal and written communications with 3rd party recovery agents, insurance companies, and law enforcement in line with legal statutes. Coordinate disposition of collateral with Consumer Loan Hardship Specialists, including dealings with estates, survivors, or probate attorneys as needed. Process refunds on insurance and ancillary products related to repossessed collateral; follow up with dealer partners to secure repayments for contract cancellations. Contact attorneys and trustees as needed and serve as a liaison for VyStar employees on bankruptcy questions. Produce and maintain desktop procedures for the bankruptcy process. Adhere to VyStar core values and the Code of Ethics; perform duties and projects as assigned by the Collections Operations Supervisor and Vice President of Consumer Loan Collections. Apply debits and credits to loan accounts in the core system and maintain records of expenses and payments on repossessed accounts daily. Advise members and relevant parties about collateral recovery, redemption periods, and liquidation timelines per applicable laws. Identify process improvements and report trends to Supervisor and VP to enhance service quality and efficiency in filings and related activities. Act as a first line of defense for risk management and support the organization’s risk culture and regulatory compliance requirements. Additionally, the incumbent is expected to demonstrate VyStar Excellence behaviors in performance of duties: Focus, Connect, Understand, Counsel, and Advance. Job Knowledge, Skills & Abilities
Required Minimum three years’ experience in collections, collateral remarketing, or bankruptcy/legal processing within a financial environment. Knowledge of FDCPA, Federal Bankruptcy Laws, FCRA, state repossession and liquidation laws, and secondary market requirements for servicing derogatory loans. Strong written and verbal communication, detail orientation, organization, active listening, and ability to work in a fast-paced environment; professional conduct and appearance; self‑motivated and capable of following through on duties. Ability to communicate with members and legal counsel at all levels. Preferred Knowledge of Microsoft Word, Excel, Access, Adobe, LaserFiche, MVI Document Capture, D-ROM Viewer, Dealertrack Technologies, AutoIMS, PACER, and Chapter 13 networks. Education
An associate’s degree or higher is the minimum educational requirement. Experience may be substituted for education on a 2-to-1 basis. Continuing education via local conferences and workshops is required for updates on federal regulations. Specialized bankruptcy classes will be required. Disclaimers and Work Environment
Nothing in this position description is an implied contract for employment. The description reflects essential functions and may change at any time. Reasonable accommodations may be made for individuals with disabilities. May exert up to 20 pounds of force occasionally and/or a negligible amount of force to move objects. VyStar is not seeking outside assistance or accepting unsolicited resumes from staffing agencies unless there is a valid written search agreement. No placement fee will be paid for referrals. Resume reviews will be conducted against position requirements and you will be contacted if your experience and skills match. VyStar Credit Union Human Resources
#J-18808-Ljbffr
Asset & Loss Mitigation Specialist at VyStar Credit Union VyStar offers a competitive pay and an excellent benefit package including a 401(k) plan, extensive paid technical and on‑the‑job training, and tuition reimbursement for full and part‑time employees. Part‑time positions start at a minimum of 30 hours per week. VyStar is committed to helping its members while managing risk in our loan portfolio. Essential Functions
Code all consumer loans, business credit cards, consumer credit cards and deposit accounts (business and consumer) in the core system within one business day of notice receipt to ensure proper tracking and compliance with bankruptcy statutes. Coding supports internal notification procedures and adherence to regulations. Review bankruptcy notices in collaboration with attorneys, management, and members to take appropriate actions within specified time frames for VyStar’s interest, including petitions, claims, motions, affidavits, and schedules. Provide a monthly summary report outlining petitions received, processing times, and trends for management review. Recommend and prepare legal action to mitigate loss; support bankruptcy proceedings to obtain lift of stay prior to discharge to secure collateral on delinquent loans. Review Chapter 13 plans to ensure VyStar receives equitable treatment in repayment of secured debts; file necessary claims and make recommendations to file objections as appropriate. File, track, and maintain court documentation to protect VyStar’s interests; reconcile loan repayment records after confirmation in collaboration with the Sr. Loan Modification Coordinator. Ensure all post and pre‑petition amounts due are received for loans in Chapter 11/13 plans; provide operational support to Business Services by managing negative deposit accounts, business credit cards, and business loans in bankruptcy. Stay informed of PACER requirements and bankruptcy legislation; implement changes to internal policy and procedure as dictated by governing bodies. Negotiate with members after discharge for reestablishment of membership in compliance with bankruptcy laws; monitor and negotiate repayment for pay‑and‑retain situations to mitigate default risk. Prepare and assign account collateral for recovery to 3rd‑party recovery agencies, including assignments and Writs of Replevin to recover collateral daily. Access Chapter 13 Trustee site to monitor payments and disbursements when available. Provide skip tracing support to repossession agents to expedite collateral recovery. Process collateral recovered by 3rd parties into core processing and tracking systems; accurate coding is essential to prevent regulatory violations. Communicate with VyStar members regarding recovery of collateral, redemption periods, and liquidation in accordance with statutes. Offer alternatives to repossession when appropriate, leveraging lending and modification processes for hardship cases. Maintain verbal and written communications with 3rd party recovery agents, insurance companies, and law enforcement in line with legal statutes. Coordinate disposition of collateral with Consumer Loan Hardship Specialists, including dealings with estates, survivors, or probate attorneys as needed. Process refunds on insurance and ancillary products related to repossessed collateral; follow up with dealer partners to secure repayments for contract cancellations. Contact attorneys and trustees as needed and serve as a liaison for VyStar employees on bankruptcy questions. Produce and maintain desktop procedures for the bankruptcy process. Adhere to VyStar core values and the Code of Ethics; perform duties and projects as assigned by the Collections Operations Supervisor and Vice President of Consumer Loan Collections. Apply debits and credits to loan accounts in the core system and maintain records of expenses and payments on repossessed accounts daily. Advise members and relevant parties about collateral recovery, redemption periods, and liquidation timelines per applicable laws. Identify process improvements and report trends to Supervisor and VP to enhance service quality and efficiency in filings and related activities. Act as a first line of defense for risk management and support the organization’s risk culture and regulatory compliance requirements. Additionally, the incumbent is expected to demonstrate VyStar Excellence behaviors in performance of duties: Focus, Connect, Understand, Counsel, and Advance. Job Knowledge, Skills & Abilities
Required Minimum three years’ experience in collections, collateral remarketing, or bankruptcy/legal processing within a financial environment. Knowledge of FDCPA, Federal Bankruptcy Laws, FCRA, state repossession and liquidation laws, and secondary market requirements for servicing derogatory loans. Strong written and verbal communication, detail orientation, organization, active listening, and ability to work in a fast-paced environment; professional conduct and appearance; self‑motivated and capable of following through on duties. Ability to communicate with members and legal counsel at all levels. Preferred Knowledge of Microsoft Word, Excel, Access, Adobe, LaserFiche, MVI Document Capture, D-ROM Viewer, Dealertrack Technologies, AutoIMS, PACER, and Chapter 13 networks. Education
An associate’s degree or higher is the minimum educational requirement. Experience may be substituted for education on a 2-to-1 basis. Continuing education via local conferences and workshops is required for updates on federal regulations. Specialized bankruptcy classes will be required. Disclaimers and Work Environment
Nothing in this position description is an implied contract for employment. The description reflects essential functions and may change at any time. Reasonable accommodations may be made for individuals with disabilities. May exert up to 20 pounds of force occasionally and/or a negligible amount of force to move objects. VyStar is not seeking outside assistance or accepting unsolicited resumes from staffing agencies unless there is a valid written search agreement. No placement fee will be paid for referrals. Resume reviews will be conducted against position requirements and you will be contacted if your experience and skills match. VyStar Credit Union Human Resources
#J-18808-Ljbffr