Meritrust Credit Union

Legal Recovery Associate I

Location US-KS-Wichita
Posted Date 2 weeks ago(3/9/2018 5:59 PM)
Job ID
# Positions
Special Accounts
Mon-Fri 8am-5pm & some Sats 9am-12noon
Regular Full-Time
8710 E. 32nd Street North


Responsible for the repossession process and asset management. This position also files damage claims on repossessed collateral, works with dealers on refunds and represents the Credit Union in court cases that involve repossessed accounts or short sales.


The following are typical duties for this position. These are not to be construed as exclusive or all-inclusive. Other duties may be required and assigned.


Complete all repossession procedures from order through the liquidation of the asset. Including maintaining acceptable levels of turn around time.


Protect Credit Union assets when the collateral is in jeopardy (i.e. tow notices, etc.).


Handle correspondence with vendors.


Maintain confidentiality in all Credit Union and member matters.


Follow safety and security rules and regulations.


Present a positive image of the Credit Union to members and vendors through a professional appearance and courteous attitude.


Advise members of options before and after repossession and answer general collection questions.


Work the repossession queue daily to assign repossessions to agents.


Request repossession title and ensure received and sent to proper auction facility.


Post sale of collateral with required notifications sent timely to members.


Attend hearings and coordinate with counsel on repossession litigation.


Make recommendations for advertising, disposition and sale of repossessed vehicles and other collateral to the Director of Special Accounts and Special Accounts Manager.


Evaluate vehicles to determine what repairs or improvements will increase their value and log the info into the collection system. File and follow up insurance claims on damaged repossessed collateral.


Skip trace to increase recovery of the collateral.


File and follow up dealer refunds on repossessed collateral.


Prepare reports on a daily and/or monthly basis.


Process and log all bills on repossessed accounts and give to the Director of Special Accounts or Special Accounts Manager to approve.


Complies with all federal, state, and organizational policies, procedures, and processes, including (but not limited to) the Bank Secrecy Act (BSA), Patriot Act, Office of Foreign Assets Control (OFAC), Federal Debt Collection Practices (FDCP), Service members Civil Relief Act (SCRA), Unfair Deceptive or Abusive Acts and Practices (UDAAP) and robbery procedures


Perform other duties as assigned by the Director of Special Accounts or the Special Accounts Manager.


Excellent oral/written communication skills and telephone manners/techniques.


Ability to use a computer, typewriter, calculator and general knowledge of Word, Excel, fax machines and multiple line phone systems.


Knowledge of fundamentals of lending, loan collection concepts and practices and be able to perform minor math calculations and interpret financial data.


Knowledge of legal aspects of collection, bankruptcy, repossession, skip tracing, small claims and foreclosure procedures.


Knowledge of the Fair Debt Collection Practices Act, SCRA, Fair Credit Reporting Act and Bankruptcy Laws..


Two years collection experience in a financial institution or legal office.


High School diploma.



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