Job Posts & Member Resources

Loss Mitigation and Asset Recovery Manager – The Atlantic FCU

Job Description:

Responsible for overseeing the overall functions of managing delinquency and minimizing losses at the credit union including oversight third party relationships; disposing of repossessed collateral. Manages and coordinates the collection activities of the credit union to ensure strategic and business goals are met or exceeded. Ensure strict compliance with state and federal collection rules and regulations in all collection practices.

Supervisory Responsibilities:

• Supervises vendors, contractors and employees providing support to the asset recovery department.
• Evaluates the performance of vendors through the vendor oversight policies.  In respect to department employees will provide oversight, including rewarding and disciplining employees, addressing complaints, and resolving problems.

Duties/Responsibilities:

• Ensure that the asset recovery policies, procedures, practices, and documentation meet federal and state regulations.
• Assign, monitor, and supervise the workload in the Asset Recovery Department to ensure the smooth and efficient flow of work. Always ensure the courteous and considerate interface with members.
• Establish and monitor effective control procedures for delinquent or potentially delinquent loans.
• On an on-going basis, communicate and monitor the requirements to vendors and staff in Asset Recovery procedures to protect the credit union’s interests.
• Implement effective processes and techniques in recovery of charged off loans.
• Review all billings from attorney(s) and any vendor used for collection work.
• Review and authorize all repossession of auto loans and other securitized collateral to minimize credit union losses.
• Authorize legal proceedings. Review default notices, surrender notices, bankruptcy procedures, foreclosures notices, etc. for accuracy and completeness.
• Develop and review accurate reporting procedures on collection activities. Prepare and analyze reports for Executive Management.
• Assist in preparing and executing commercial loan workout strategies to ensure optimal asset recovery in accordance with the credit union’s objectives.
• Works with the commercial loan department to focus on the collections of outstanding debts from business loan customers. Helps with the recovery of any property in accordance with credit union procedures. 
• Conduct risk assessments on potential commercial loan workout scenarios, considering various factors such as market conditions, collateral valuation, borrower financials, and legal implications. Present findings and recommendations to senior management to inform decision-making.

The Atlantic strives to maintain balance between our employees’ personal and professional responsibilities. All full-time employees receive a highly competitive and comprehensive total compensation package including competitive pay, target incentive, medical / dental / prescription coverage, 401(k) plan (with up to 6% match), and generous paid time off. As an The Atlantic employee you are eligible for discounts on our products and services and earn paid time off for volunteering. In addition to these benefits, The Atlantic provides educational and developmental opportunities as well as access to our formal Tuition Assistance Program

Experience/Education:

• Bachelor’s degree preferred.
• Minimum 3 years’ experience within a financial institution or related field, with 5 years in a management capacity. 
• Collections experience in a financial institution collecting on all types of consumer loans, including but not limited to: unsecured, auto, and real estate.
• Experience in commercial loan workout 
• Knowledge of bankruptcy laws.
• Knowledge of how to determine hardship assistance.
•  Comprehensive experience in consumer federal debt collection laws

Pay: $70,000 – $102,000

Job Type: Full Time – Hybrid

Please send resumes To: Kristina Pakrul, kpakrul@atlfedcu.com

Contact Information:

Kristina Pakrul

Director of Human Resources

Atlantic Federal Credit Union

908-245-1750 x7515