Dover, Delaware
Legal Specialist Job Opening in Dover, Delaware - Position Title: Legal Specialist Department: Collections
Classification: Non-Exempt Approved By:
REPORTING RELATIONSHIPS
Position Reports To: Director of
Positions Supervised:
POSITION PURPOSE
Responsible for performing collection activities associated with serious delinquent member accounts, including Visa credit card, lines of credit, secured loans, signature loans, real estate loans, and home equity lines of credit that are involved in bankruptcy or legal proceedings, ensuring compliance with all relevant federal and state lending/debt recovery laws and following bankruptcy laws in addition to the FDCPA (Fair Debt Collection Practices Act). Reviews delinquent accounts, determines Credit Union position and, as circumstances indicate, directs and assists in collections proceedings. Handles all foreclosures. Responsible to all Bankruptcies. Ensures that the Credit Union's professional image is maintained.
ESSENTIAL FUNCTIONS AND BASIC DUTIES
Assumes responsibility for the effective and professional performance of collections functions.
Utilizes effective human relations skills and various forms of persuasion to present a positive Credit Union image in an already negative situation. Calms irate members and answers member questions and complaints relevant to Department functions. Determines Credit Union position in bankruptcy procedings and works to minimize losses.
Uses experience and knowledge of Credit Union loan policies, procedures, and documentation together with knowledge of Bankruptcy Law to review member files in order to establish validity of bankruptcy proceedings. Verifies existence of assets or evidence of fraud. Completes and files all paperwork required to secure the Credit Union?s position in the Bankruptcy.
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Prepares and forwards files for further legal action, ensuring all required procedures and paperwork are accurate, complete, and in accordance with applicable federal and state laws.
Monitors loans to ensure bankrupt members have adequate insurance coverage to protect collateral and the Credit Union's interests.
Directs legal counsel in all court complaints and post judgment actions including garnishments, supplemental orders, and execution.
Directs and assists legal counsel in bankruptcy court proceedings. Appears in bankruptcy court actions as needed.
Handles and oversees all foreclosure proceedings involving real property. Works with legal counsel to coordinate trustee sales, evictions, and title transfers to the Credit Union.
Monitors all attorney and bankruptcy accounts to ensure documents and legal proceedings are filed and followed up in a timely manner.
Recommends possible charge-offs. Researches and prepares the Write-off Summary Sheet. j. Drafts/recommends policies for executive consideration.k. Performs collections efforts in accordance with Credit Union policies and procedures and ensures they are legally compliant.l. Complies with all Credit Union policies and procedures including those related to Bank Secrecy Act
b. Ensures that work area is clean, secure, and well maintained.
a. Stays informed of changes in collections policies, procedures, and related legal, bankruptcy, and foreclosure requirements.
5. Assumes responsibility for related duties as required or assigned.
c. Attends and participates in meetings as required, to include bacnkruptcy Meeting of Debtors 34 hearings and interviews with debtor and debtor?s attorney.
b. Keeps management informed of activities, progress attained toward established objectives, and of any significant problems.
a. Assists other Credit Union personnel as needed.
4. Assumes responsibility for establishing and maintaining effective communication and coordination with Credit Union personnel.
c. Develops contacts with the other financial institutions, third party vendors, business attorneys, and corporate compliance professionals. Uses shared information to effectively minimize Credit Union losses.
b. Maintains confidentiality.
a. Maintains the Credit Union's professional reputation throughout collections and legal operations and in all contacts with members.
3. Assumes responsibility for ensuring that professional business relations are established and maintained with various members, groups, and professionals.
c. Researches loan accounts that appear on late and potentially late records to ensure that Credit Union errors are detected promptly. Provides members the opportunity to fully explain their loan status.
b. Documents all collection actions taken, including telephone conversations, alternative financial arrangements, and correspondence.
a. Keeps accurate and up-to-date activity reports on late, potentially late, and delinquent loans.
2. Assumes responsibility for the efficient administration of collections activities.
regulations.
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Completes miscellaneous administrative functions and special projects as required.
PERFORMANCE MEASUREMENTS
Delinquent and problem accounts are closely monitored and reviewed.
Appropriate collections actions are instituted that are in accordance with established Credit Union policies and are legally compliant. Legal actions are closely supervised and directed.
Delinquent accounts are promptly collected. A delinquency ratio which meets management standards is maintained.
Professional business relations exist with members. Members' are properly assisted with their financial problems and their questions are courteously answered.
Effective working relations and coordination exist with Credit Union legal counsel.
Required reports and records are accurate and timely.
Good working relations exist with area personnel and with management. Management is appropriately informed of area activities. Collectors are supported and directed as needed.
QUALIFICATIONS
: High school graduate or equivalent college training with emphasis on business, legal, or
related courses
Required Knowledge: Thorough knowledge of collection procedures, skip tracing, and related laws and regulations.
Basic understanding of bankruptcy laws and FDCPA
Thorough understanding of Credit Union loan products and policies.
Knowledge of all loan contract terms and agreements.
Familiar with deposit programs, account ownership, and casualty insurance.
Thorough understanding of all court systems (Small Claims, Circuit, District, Bankruptcy) and e-Filing processes
Complete knowledge of equity calculations, priority of liens, and redemption rights.
Experience Required: Three to four years of collection experience with a full-service financial institution.
Skills/Abilities: Ability to travel 25% for meetings, hearings, etc.
Accuracy and thoroughness in work.
Strong interpersonal and public relations skills
Well organized and attentive to detail
Ability to manage multiple projects simultaneously.
Excellent communication, telephone, and public relations skills.
Ability to work well independently.
Ability to work well in stressful situations.
Ability to operate related computer applications and other business equipment including calculator, typewriter, copy machine, printer, credit bureau terminal, telephone, fax.
PHYSICAL ACTIVITIES AND REQUIREMENTS OF THIS POSITION
Finger Dexterity: Using primarily just the fingers to make small movements such as typing, picking up small objects, or pinching fingers together.
Talking: Especially where one must frequently convey detailed or important instructions or ideas accurately, loudly, or quickly.
Average Hearing: Able to hear average or normal conversations and receive ordinary information.
Repetitive Motion: Movements frequently and regularly required using the wrists, hands, and/or fingers.
Average Visual Abilities: Average, ordinary, visual acuity necessary to prepare or inspect documents or products, or operate machinery.
Physical Strength: Sedentary work; sitting most of the time. Exerts up to 10 lbs. of force occasionally. (Almost all office jobs.)
WORKING CONDITIONS
None: No hazardous or significantly unpleasant conditions (such as in a typical office).
MENTAL ACTIVITIES AND REQUIREMENTS OF THIS POSITION
Reasoning Ability: Ability to deal with a variety of variables under only limited standardization.
Able to interpret various instructions.
Mathematics Ability: Ability to perform basic math skills and to use decimals to compute ratios and percents, and to draw and interpret graphs.
Language Ability: Ability to read a variety of books, magazines, instruction manuals, atlases, and encyclopedias.
Ability to prepare memos, reports, and essays using proper punctuation, spelling, and grammar.
Ability to communicate distinctly with appropriate pauses and emphasis; correct punctuation (or sign equivalent) and variation in word order; using present, perfect, and future tenses.
Job Type: Full-time
Required experience:
Legal/ Collections: 1 year
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