Loss Prevention Operations Specialist

About This Role

The Loss Prevention Operations Specialist will support the Loss Prevention department by managing and resolving various account types including bankruptcy, repossession, total loss, and probate, ensuring compliance with regulations and minimizing financial losses for the credit union.

Responsibilities

• Maintain communication with Loss Prevention Management to ensure understanding of credit union goals and policy adherence
• Support Loss Prevention department in all functions, including overflow calls
• Stay informed of current laws, regulations, and best practices
• Communicate daily with members, financial centers, insurance/repossession companies, courts, and attorneys
• Review and respond to bankruptcy court documents, set up and maintain accounts, file/update proof of claims, and recommend actions
• Facilitate recovery and remarketing of repossessed collateral, perform skip tracing, and communicate with vendors
• Negotiate and coordinate settlements with insurance companies for total loss accounts and process claims
• Communicate with personal representatives/estate attorneys for deceased accounts, file claims, and represent the credit union at hearings
• Obtain and verify proper Collateral Protection Insurance (CPI) coverage, monitor reports, and process claims
• Act as backup for the Loss Prevention Support Specialist for extensions, reages, reports, and court appearances
• Explore different avenues of recovery
• Balance GLs, complete charge-off projections, and prepare month-end reports and statistics

Requirements

• High school diploma or equivalent (GED)
• 3+ years in collections, repossession, and bankruptcy law in financial services
• Working knowledge of lending practices, small claims court, and financial terms
• Excellent communication skills
• Negotiating and problem-solving skills
• Time management and organizational skills
• Ability to prioritize multiple tasks efficiently
• Ability to analyze situations and make solid decisions with exceptional judgment
• Basic proficiency in Microsoft Office applications (Outlook, Word, Excel, PowerPoint)
• Intermediate mathematical skills
• Ability to travel to all areas of the State of SC for judicial appearances

Qualifications

• High school diploma or equivalent (GED)
• Minimum of 3 years of similar or related collections, repossession, and bankruptcy law experience within a financial services work environment

Skills

* Required skills