Loan Loss Recovery Specialist

As the nation's largest community credit union, we begin every day focused on delivering superior financial products and services for our 1.3 million members and more than $30 billion in managed assets. Our work has an economic impact as we support our members' financial goals. We are unapologetic about being devoted to our members and the communities we serve. Our business is guided by our people helping people philosophy – which includes our team members.

BECU has been in business for more than 85 years, driven by unwavering core values and a dedication to improving the communities we serve. While we have a rich history, the future of our company, accelerated by business and technology transformation, is even brighter. There's never been a better time to work for BECU.

To learn more visit becu.org/careers.

PAY RANGE

The Target Pay Range for this position is $27.40-$33.46 hourly. The full Pay Range is $21.25-$39.57 hourly. At BECU, compensation decisions are determined using factors such as relevant job-related skills, experience, and education or training. Should an offer for employment be made, we will consider individual qualifications. In addition to your salary, compensation incentives are available for the hired applicant. Incentives are performance based and targets vary by role.

Benefits

Employees and their eligible family members have access to a wide array of employee benefits, such as medical, dental, vision and life insurance coverage. Employees have access to disability and AD&D insurance. We also offer health care and dependent care flexible spending accounts, as well as health savings accounts, to eligible employees. Employees are able to enroll in our company’s 401k plan and employer-funded retirement plan. Newly hired employees accrue 6.16 hours of paid time off (PTO) on a per pay period basis based on hours worked (up to a maximum of 160 PTO hours per year) and receive ten paid holidays throughout the calendar year. Additional details regarding BECU Benefits can be found here.

Impact You’ll Make

As a Loan Loss Recovery Specialist, you will have a direct impact on the recovery of charged-off accounts, ensuring compliance with state and federal laws, and recommending process improvements to optimize Loan Loss Recovery. Your ability to negotiate settlements, maintain effective communication, and drive continuous improvement will play a crucial role in the success of BECU.

What You’ll Do

Knowledge of state and federal laws pertaining to collections: Stay updated on relevant legal requirements, ensuring that all collection activities adhere to the applicable laws and regulations.Follow Washington State and federal laws concerning collections: Ensure prompt and thorough compliance with all relevant state and federal laws, avoiding any potential legal issues.Negotiate settlements with debtors, attorneys, etc.: Engage in negotiations to recover outstanding debts, demonstrating the empathy and expertise necessary to reach favorable resolutions.Skip-trace and locate debtors: Utilize skip-tracing techniques to locate and engage with debtors, showcasing your resourcefulness and determination.Process new charged-off accounts: Consistently handle the daily activation of new charged-off accountsMonitor and document status of all pending accounts: Keep track of pending accounts, documenting their progress within the Collection System as an essential step towards successful recovery.Prompt follow-up on all legal and collection accounts: Demonstrate consistent and timely follow-up on legal and collection accounts, keeping the recovery process moving forward effectively.Effective communication: Foster effective communication with colleagues across the Credit Union, promoting collaboration and information exchange for achieving shared goals.Ensure proper documentation: Document clear and comprehensive written procedures for all your responsibilities, ensuring that processes are well-documented and easily accessible.Loan Loss Recovery collection issues: Take on the role of an escalation point for any collection issues, utilizing your expertise to address and resolve challenges effectively.Recommend process improvements: Actively contribute ideas for enhancing the Loan Loss Recovery process, demonstrating your commitment to continuous improvement.Monitor recovery efforts: Proactively identify and report any issues that could hinder recovery efforts or impact the Credit Union, demonstrating your commitment to safeguarding the organization's interests.Meet BECU Competencies and Information Protection requirements: Ensure that all actions and decisions align with BECU's competencies and information protection guidelines, safeguarding the best interests of our members.Commit to attaining Credit Union goals: Demonstrate a commitment to continuous improvement, ensuring that processes and service quality are consistently evolving to meet the Credit Union's objectives.

This role isn’t just about ticking off tasks on a list. It's about making a significant, positive change in BECU’s journey, where your contributions are valued, and your growth is continually fostered.

What You’ll Gain

The opportunity to play a vital role in the Loan Loss Recovery process, contributing to the success and growth of BECUThe chance to work within a collaborative team where your ideas and contributions are valuedThe potential for career advancement and continuous professional developmentThe satisfaction of making a tangible impact on BECU's technological landscape and its members' financial well-being

Qualifications

Minimum Qualifications

Associate’s in Business Administration, or equivalent work or educational experienceMinimum 5 years of customer service experience, including 3 years in collections required. Previous experience with financial services products preferred.Certification or knowledge of the laws and regulations of the Fair Debt Collection Practices ActExperience with legal collections

Desired Qualifications

Ability to exercise confidentiality and discretionary judgmentAbility to present a professional image to members, co-workers, and outside contactsAbility to work independently and as a team member, utilizing sound judgment in problem-solvingAbility to prioritize multiple tasks and work effectively under deadlinesProficient PC skills, with the ability to learn new softwareEffective verbal and written communication skills in the English language

JOIN THE JOURNEY

Ready to make an indelible impact? Eager to be a part of a collaborative and innovative team where your ideas and contributions don’t just fill a role, but fuel the growth and success of BECU? This is more than a job – it’s a chance to elevate your career, skills, and future, all while contributing to the robust technological landscape of BECU.

Embrace the opportunity to grow with us. Apply now, bring your expertise to the table, and let’s achieve technological excellence together at BECU. Your journey of influence, innovation, and impactful contribution starts now. #BECU #YourGrowth #BECUJourney

EEO Statement

BECU is an equal opportunity employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, national origin, veteran status, disability, sexual orientation, gender identity, or any other protected status.