Description
To initiate litigation collection efforts against members with delinquent consumer loans, credit cards, cases of Cease and Desist, and members who have benefitted from undue enrichment. To act as liaison, resource, and point of contact between Collections and the Office of General Counsel (OGC), Security, and other departments; law enforcement agencies; and external legal counsel in matters of fraud, potential loss, and litigation against the Credit Union. To serve as point of contact to other business units concerning Collection processes, procedures, and complex inquiries. To comply with regulations, Navy Federal policies, and industry standards related to Collections litigation. To act as Collections representative, witness, and Custodian of the Records for the Credit Union in mediations, trials, and depositions for Civil, Circuit, Bankruptcy courts, and cases defended by the Office of General Counsel. To provide input to Collections management in the development and implementation of operational improvements, strategies, and initiatives for enhancement and growth of Navy Federal's Collections activities and results. To provide input in the development and revision of procedures, processes, and training programs/materials for all aspects of consumer and credit card collections.
Requisition Type
Member Contact
Job Schedule
Full time
Job Shift
Regular Hours
Responsibilities
Review delinquent consumer loan and/or credit card accounts to determine if litigation collection efforts are warranted to protect Navy Federal interests and reduce financial loss to the credit union
Research member assets and accounts to evaluate recoverability for projected cost of litigation efforts and determine if legal action is a reasonable option
Review collateralized loan accounts to assess repossession, recommend and initiate repossessions, and monitor/communicate outcomes to collection attorneys
Research and compile member and account information, collection notations, correspondence, archived documents, and any other pertinent documents required by the OGC and outside attorneys for use in litigation
Initiate lawsuits to obtain judgment, repossess collateral, and liquidate any other applicable assets in order to ensure recovery of the loss
Maintain and monitor collection litigation files, including internal documents, communication with collection attorneys, and scheduled court dates and witnesses
Monitor attorneys' assigned accounts to determine litigation status and continued cost effectiveness; inform attorneys of applicable and specific legal matters and the impact on the Credit Union
Perform legal research and analysis of precedent cases, judicial decisions and opinions, and legislative developments; fulfill attorney document requests and complete affidavits, interrogatories, and Requests for Production of Documents from the court
Ensure settlements approved by Loss Mitigation are reported to the IRS and Credit Bureau completely and accurately
Address lien issues with attorneys following bankruptcy to ensure the credit union is able to obtain a satisfactory arrangement
Process and distribute time sensitive legal documents, notification of suit against NFCU, Cease and Desist requests, Security documents, and third party communications to ensure the Credit Union is in compliance with collection laws to reduce the risk of litigation against the Credit Union
Monitor and maintain accounting records related to litigation cases; identify trends and strategizes to ensure cost effectiveness, reduce expenses, and increase recoveries for the Credit Union
Prepare written summaries and analyses and generate statistical and case status reports
Provide input to management during negotiations of outside attorney commission rates
Prepare Cash Disbursement Vouchers (CDVs) for court costs and fees; forward them to General Accounting for processing; maintain accurate records of expenses and commissions paid
Performs other related duties as assigned or appropriate
Qualifications
Expert knowledge of state and Federal laws; industry regulations, principles, and practices; and company policies that govern the activities of the business unit
Ability to comprehend, analyze, interpret, communicate, and apply related government and financial industry regulations, principles and practices, and company instructions, procedures, and policies
Demonstrated knowledge of accounting, credit, lending, consumer loan, and/or credit card collection policies and practices
Extensive experience with increasing levels of responsibility and authority in a related field
Ability to handle sensitive and classified information
Demonstrated ability to work independently and as part of a team; apply sound judgment; and exercise initiative, logic, and integrity to make sound decisions
Advanced interpersonal, oral, and written communication skills
Strong organizational, planning, and time management skills
Strong research, analytical, and problem solving skills
Proficiency with PCs and skill with database, word processing, spreadsheet, and presentation software
Desired Qualifications
College level courses with concentration in Accounting, Finance, Business, Electronic Data Processing, or related field
Extensive experience collecting on delinquent loans and credit cards
Proficiency with systems used in the business unit and related systems used internally and/or externally
Advanced knowledge of NFCU organizational objectives, structure, products, services, policies and procedures
Hours: Monday - Friday, 10:00AM - 6:30 PM 
Location: 820 Follin Lane Vienna, Virginia 22180
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