PURPOSE
To manage charged-off accounts and maximize recovery through legal action, claims processing, and settlement negotiation in accordance with Credit Union policies, procedures, core values, and applicable federal and state laws. This position evaluates recovery options and negotiates resolutions to recover funds while ensuring proper documentation and accounting treatment of recovery assets.
FUNCTIONS
*Maintain working knowledge of Credit Union policies, procedures, recovery practices, and applicable federal and state laws relating to collections, legal process, and account levies.
*Manage charged-off portfolio and determine appropriate recovery strategy.
*Work assigned queues for recovery management and tracking.
*Negotiate settlements on charge-offs and deficiency balances within assigned authority.
*Prepare settlement agreements, releases, and payment arrangements and monitor compliance.
*Place accounts with attorneys or collection agencies and monitor performance.
*Coordinate litigation strategy and communication with legal counsel.
*Work with Hawaii staff on reviewing and submitting small claims filings and documentation preparation.
*Attend court hearings or provide testimony on behalf of the Credit Union as required.
*Track judgments, renewals, and statute-of-limitation deadlines.
*Process and monitor garnishments, attachments, and other enforcement actions initiated by the Credit Union.
*Coordinate and monitor bankruptcy recovery payments and proof-of-claim activity as applicable to charged-off accounts.
*Receive, review, and process levies, writs of execution, and garnishments served on the Credit Union.
*Verify account ownership, place and release holds, and remit funds in accordance with legal requirements and timelines.
*Complete all member notifications and required follow-up for bank sweeps and PFD (Permanent Fund Dividend) sweeps and monitor results.
*Reconcile recovery payments and ensure proper posting and accounting treatment, including 1099-C reporting when applicable.
*Maintain complete documentation of all legal and recovery actions taken.
*Provide recovery reporting and status updates to management.
*May assist other collection queues during staff absences or as needed operationally.
*Perform other duties as assigned.
PREREQUISITES FOR THIS POSITION:
*Minimum Education: High school diploma or equivalent required. Associate degree, paralegal coursework, or relevant legal/financial training preferred.
*Minimum Experience: Three to five years’ experience in collections, recovery, legal support, or financial institution operations preferred. Experience with legal filings, judgments, bankruptcies, garnishments, or court procedures strongly preferred.
To manage charged-off accounts and maximize recovery through legal action, claims processing, and settlement negotiation in accordance with Credit Union policies, procedures, core values, and applicable federal and state laws. This position evaluates recovery options and negotiates resolutions to recover funds while ensuring proper documentation and accounting treatment of recovery assets.
FUNCTIONS
*Maintain working knowledge of Credit Union policies, procedures, recovery practices, and applicable federal and state laws relating to collections, legal process, and account levies.
*Manage charged-off portfolio and determine appropriate recovery strategy.
*Work assigned queues for recovery management and tracking.
*Negotiate settlements on charge-offs and deficiency balances within assigned authority.
*Prepare settlement agreements, releases, and payment arrangements and monitor compliance.
*Place accounts with attorneys or collection agencies and monitor performance.
*Coordinate litigation strategy and communication with legal counsel.
*Work with Hawaii staff on reviewing and submitting small claims filings and documentation preparation.
*Attend court hearings or provide testimony on behalf of the Credit Union as required.
*Track judgments, renewals, and statute-of-limitation deadlines.
*Process and monitor garnishments, attachments, and other enforcement actions initiated by the Credit Union.
*Coordinate and monitor bankruptcy recovery payments and proof-of-claim activity as applicable to charged-off accounts.
*Receive, review, and process levies, writs of execution, and garnishments served on the Credit Union.
*Verify account ownership, place and release holds, and remit funds in accordance with legal requirements and timelines.
*Complete all member notifications and required follow-up for bank sweeps and PFD (Permanent Fund Dividend) sweeps and monitor results.
*Reconcile recovery payments and ensure proper posting and accounting treatment, including 1099-C reporting when applicable.
*Maintain complete documentation of all legal and recovery actions taken.
*Provide recovery reporting and status updates to management.
*May assist other collection queues during staff absences or as needed operationally.
*Perform other duties as assigned.
PREREQUISITES FOR THIS POSITION:
*Minimum Education: High school diploma or equivalent required. Associate degree, paralegal coursework, or relevant legal/financial training preferred.
*Minimum Experience: Three to five years’ experience in collections, recovery, legal support, or financial institution operations preferred. Experience with legal filings, judgments, bankruptcies, garnishments, or court procedures strongly preferred.