Job Description:
The Bankruptcy Specialist performs procedures relating to bankrupt accounts including processing incoming petitions, discharge notices, proof of claims, reaffirmation agreements and non-dischargeable debt review. Manages accounts undergoing bankruptcy ensuring compliance with regulations and minimizing losses for the credit union.
Effectively utilizes resources to consistently provide outstanding service to members, branches and other departments. Demonstrates a service philosophy of owning issues through completion and exceeding service level expectations in every interaction, to arrive at the best solutions for the membership.
Acts as a liaison with members and outside agencies for questions or issues pertaining to bankrupt loans taking appropriate action with the approval of management. Documents contacts with members accurately and completely to provide continuity in conversations and protection for OnPoint.
Essential Functions & Responsibilities:
- Oversees bankruptcy accounts to ensure correct statuses in all systems, depending on case status. Includes, but not limited to, core systems, collection system and PACER.
- Perform processes related to bankrupt accounts, including processing incoming petitions, 341 notices, discharges, proof of claims, motion for relief, non-dischargeable debt review and case closures/terminations.
- Make recommendations to management for bankruptcy strategies and dispositions
- Review trustee checks/payments, including return of overpayments to applicable trustee.
- Complete daily record retention and maintenance of all efforts, including, but not limited to, uploading documents to core banking system, collection system, or PACER.
- Remains current with bankruptcy laws, their interpretation and the applicable provisions, which best protect the interest of the credit union.
- Makes decisions on bankruptcy accounts, meeting court specified deadlines and requires a general knowledge of federal bankruptcy court procedures
- Decisions/statuses accounts when a bankruptcy notice is received, review bankrupt accounts and recommends to charge-off, file relief from stay, proof of claims, reaffirmation requests, etc.
- Utilizes bankruptcy software to ensure timely filing and proper follow-up on proof of claims, objections to bankruptcy plans, and various motions including but not limited to; relief from stays, motion to dismiss or discharge, motion to avoid liens etc.
- Review documents and affidavits for accuracy and respond within required timeframes.
- Make sure all activities comply with federal and state regulations, as well as the institution's policies and procedures.
- Provide assistance to members, attorneys, and trustees regarding bankruptcy accounts
- Review monthly invoices, submissions, and timely payments including updating servicing and collection systems.
- Provide timely responses to inquiries, both verbal and written and according to investor, regulatory, state, and federal guidelines.
- Coordinate with other internal and external business partners, such as legal, to manage bankruptcies.
- Keep management informed of pertinent information.
- Demonstrate a strong work ethic and commitment to doing the right thing including members, company, and team. Maintains the quality and integrity of the services provided by the department.
- Other duties as assigned.
Knowledge, Skills and Abilities:
- Provide professional, high-quality service to members.
- Provide a professional example, accuracy, and consistency in work performance.
- Knowledge of Bankruptcy Law: Understanding of bankruptcy laws, procedures, and regulations is essential.
- Attention to Detail: Keen eye for detail to ensure accuracy in documentation and filings.
- Analytical Skills: Ability to analyze information, identify problems, and develop solutions.
- Compliance with Quality Assurance, State and Federal regulations, company policies and procedures.
- Works effectively in a team environment
- Embraces change without resistance and adapt quickly.
- Maintain a high level of integrity and respect and strong work ethic.
- Participates and is an active team member by assisting others, demonstrating flexibility, and participating in team meetings.
- Communicate openly and freely in a courteous manner.
Qualifications:
- High School Diploma or equivalent required.
- Minimum of 3-4year of successful work experience in a financial institution.
- Minimum of 3 years in collections experience
- 2+ years of bankruptcy experience preferred.
- Knowledge of FDCPA guidelines strongly desired.
- Strong verbal and written communication skills.
JobFamily
Collections
JobFunction
Collections
PayType
Hourly