Join Lafayette Federal Credit Union, a proud recipient of USA Today's Top Workplaces of 2024 award! We are expanding and looking for exceptional talent to support our members and contribute to our reputation as an employer of choice. Be a key player in our mission to become the premier financial partner for our community. Your skills and dedication are essential to our success. 

• Are you a smart, organized, and resourceful professional?
• Do you have excellent attention to detail?
• Do you have experience with consumer and mortgage asset recovery?

If so, then Lafayette Federal may have the perfect opportunity for you! We are currently seeking a Recovery Specialist to join our dynamic team!

About us:

Our Difference: What makes Lafayette Federal cutting-edge? Lafayette Federal Credit Union is not only a great place to bank, but also a great place to work! In addition to our Top Workplaces recognition by USA Today, we have also been recognized nationally by (1) Newsweek’s America’s Best Bank’s list, (2) we’ve received a 5-star rating from Bauer financial, and (3) we’ve also received national recognition by S&P Global’ s Top Performing Credit Union’s!

Our Culture: Lafayette Federal is about inclusion, diversity, high performance, and new opportunities. Teamwork and our sense of community also make Lafayette Federal a great place to work. Each person is valued for his or her unique set of skills. We share a common devotion to the people we serve, participating in charity events throughout each year and giving back to the community.

Our Opportunities: Professional development, training, and certification is a priority for our employees. We want you to reach your career goals and provide support that leads to opportunities of advancement within the industry.

About the role:

We are seeking a smart, organized, and resourceful professional to assist the Default Prevention and Recovery department in monitoring loans that are in default in the credit union loan portfolio as well as all tasks related to rehabilitation and sale of credit union owned assets (i.e. repossessions & REOs) to include valuation, insurance, utilities, release/recordings, purchase agreements, rental agreements, payment of insurance and taxes providing support services in managing the process of loan extensions, loan modifications and foreclosures. Our ideal candidate will maintain professionalism, confidentiality, and friendly service to our external members and internally amongst the staff. Accuracy, attention to detail, and time management are essential characteristics to be successful in this role.

A day in the life of a Recovery Specialist will include:

• Managing the process for disposing of any assets owned by the credit union, to include rehabilitations, management, and resale of vehicles, (boats, RV’s etc.)
• Assigning accounts to foreclosure attorneys and repossession companies; voluntary, involuntary, abandoned, and impounded assets.
• Notifying corresponding departments and documenting once assets have been secured and/or foreclosure has been completed.
• Processing mortgage reinstatements and vehicle redemptions according federal and state guidelines. Assisting in activities related to loss mitigation to include loan extensions, loan modifications and foreclosures.
• Troubleshooting and resolving member and internal inquiries in a timely, friendly, and professional manner. Ensuring all written and verbal member correspondence and all related information are documented and/or scanned accurately and timely into the Collections system.

Top benefits or perks:

Joining Lafayette Federal comes with perks to support you in your personal and professional journey.

We provide employees with a generous benefits package including:

• Employer paid (99.9%) health insurance premium for single and family coverage (HMO Plan)
• Fully funded deductible (HMO Plan)
• 401k employer matching contribution
• Income protection with life insurance, short and long-term disability
• Paid time off, holiday leave & birthday leave
• Educational assistance
• Commuter benefits program and more!

 Pay: $52,621 - $56,000 annually (or $25.30 - 27.59/hr) depending on experience and qualifications. 

Location:

We are headquartered in the heart of Rockville, MD where career growth meets urban vitality. Experience the perfect balance of professional opportunity and a lively community, creating a unique environment for success and fulfillment. Some traveling is required for this position.

The job posting highlights the most critical responsibilities and requirements of the job. It is not all-inclusive. There may be additional duties, responsibilities, and qualifications for this job.

*Lafayette Federal Credit Union is an Equal Opportunity and E-Verify Employer

*EOE/AA/DISABILITY/VETERAN