Asset Recovery Specialist 1

Job description

Description Job Scope: The Asset Recovery Specialist 1 supports post-charge-off recovery efforts by learning to evaluate charged-off loans for collectability, contacting borrowers under guidance to explore repayment options, and assisting with vendor relationships with third-party collection agencies. The role gains experience with skip tracing, reconciliation of recovery payments, levy processing, and vendor oversight tasks. Working closely with more experienced team members and following established procedures, this position helps advance the credit union’s loss recovery and compliance strategies by contributing to recovery efforts while developing professionalism and understanding of regulatory requirements. Essential Functions: - Learn to process charged-off loans in accordance with credit union policy and regulatory requirements under guidance. - Assist in reviewing loan history, collateral status, and borrower financials to begin assessing collectability. - Accurately document charge-off decisions and complete loan system updates as directed. - Support the processing and maintenance of accurate records for IRS Form 1099-C filings in compliance with applicable laws and regulat...