Sr. Debt & Asset Recovery Specialist in Itasca, Illinois at Mitsubishi HC Capital America Inc

Position Overview: The company is looking for a motivated and experienced portfolio management professional skilled in mid-stage collections and asset recovery activities. The Sr. Debt and Asset Recovery Specialist responsibilities include (but are not limited to) coaching and mentoring team members, ensuring team compliance and adherence to defined quality standards/SOP’s, acting as subject matter expert in file reviews and escalations, collection of delinquent accounts through phone/written correspondence, skip-tracing, repossession requests/submissions, managing contracts out for repo, and submittal of legal recommendations as warranted. This role ensures the effective coordination of late-stage collections, asset recovery, and risk mitigation strategies. The ideal candidate must be positive, focused, a team player, and possess strong time management, multitasking, and negotiating skills.

Commitment to Internal Control:

The incumbent accepts the responsibility for establishing and maintaining the internal control system associated with the essential duties and responsibilities of the functional areas that the incumbent manages.

Essential Duties and Responsibilities: (List in order of time spent)

• Strive to mitigate loss and maximize recoveries through proactive management of assigned problem account queue, performing all collection and recovery activities timely and accurately
• Conduct extensive skip-tracing and work in conjunction with outside partners (repo and collections) in efforts to locate obligors, secure payment, and collateral
• Assume responsibility for all out for repossession accounts until collected current or default cured
• Assign accounts to our repo companies based on the best probability of recovery and reassign as necessary
• Support and assist supervisor in overseeing day-to-day departmental operations
• Lead training and development initiatives of the Debt & Asset Recovery Team
• Prepare and maintain pre-litigation files; manage proper escalation ensuring compliance with legal referral timelines
• Assist supervisor in call center platform; ensure proper workflow and reporting; establish dialer campaigns
• Conduct annual reviews on standard and critical service providers ensuring adequate insurance, license, bond info
• Meet required KPI productivity metrics, i.e., call volume levels, contacts made, payment promises secured, etc. Meet required criteria for call quality standards
• Activelymonitordepartmental dashboards and reports including call center platform, repo placements, legal recommendations, etc.
• Approve and process vendor invoices within defined approval limits
• Assist members of the team. Handle/resolve escalated problem accounts. Make recommendations for next steps including legal activity

• Assume ownership of accounts impacted by liens and impounds; track and ensure proper follow up/resolution
• Coordinate with Collections, Asset Management, and Legal to effectively utilize all resources to reach account resolution
• Document all interaction with customers and outside agencies to ensure tracking and reporting accuracy
• Make next-step recommendations to management team including litigation, abandonment, and charging off
• Seek workout and repayment opportunities with obligors; working with customers to restructure, reschedule, rewrite, or extend payments.
• Furnish proper customer facing written communications such as demand and notice of private sale.
• Conduct routine audits of repossession efforts; routinely seek updates from partners
• Ensure compliance with laws and internal policies
• Participate in continuous improvement initiatives for processes and policies
• Handle any miscellaneous duties as assigned.

KPI’s (Key Performance Indicators):

• Routine agent performance indicators include effort and effectiveness measures

• Call center performance
• Account touches
• Account resolutions
• Repossession activity reporting
• Message and follow up activity
• Quality Control and monitoring

• Support & Guidance to Team Members

• Availability for daily questions and approvals

• Accuracy and completeness of case files.

• Compliance with internal standards and external regulations

• Complex Case Handling
• Strategic decision-making in sensitive scenarios
• Training & Development
• Escalation management and workflow continuity

Responsibility and Decision-Making Authority:

Acts independently within company policy. Makes decisions on recovery strategies, team operations, and resource allocation

Management/Supervisory Responsibilities:

N/A

Qualifications:

• Solid working knowledge of MS Excel and MS Word preferred
• Bilingual in English & Spanish a plus

Competencies:

• Strategic thinking and problem-solving
• Strong interpersonal and negotiation skills
• Risk assessment and decision-making
• Excellent communication and organizational skills

• Desire to work in a team environment
• Forward thinking/adaptability – must be able and willing to adapt; strive for process improvement
• Time management - the ability to organize and manage multiple priorities including workflows and queues
• Attention to detail

Education and Experience:

• 5 years collections, repossession, and workout experience (commercial preferred)
• 1-2 years of credit experience preferred but not required.
• College Degree preferred but not required.
• Basic knowledge of legal, collateral disposition, deficiency calculations preferred but not required.
• Leadership, supervisory, mentor experience preferred but not required.

Licensing and Certification:

• N/A

Tools and Equipment Used:

• Personal computer, copier, phone, and other typical office equipment

Working Hours/Locations:

• Hours may vary and may require some evening work; frequently requires working 40-45 hours/week depending on business needs.

Travel:

• Occasional travel related to attendance at industry seminars

Physical Demands:

• Digital dexterity and hand/eye coordination in operation of office equipment
• Light lifting and carrying of supplies, files, etc.
• Ability to speak to and hear customers and/or other employees via phone or in person.
• Body motor skills sufficient to enable incumbent to move from one office location to another

The job description does not constitute an employment contract, implied or otherwise, other than an “at will” relationship and is subject to change by the employer as the needs of the employer and requirements of the job change.

The position is exempt and the salary will be between $72,200.00 and $87,800.00 with an opportunity to earn a discretionary annual bonus. The salary range is determined and based on internal equity, market data/ranges, applicant's skills, prior relevant experience and education.

Additional benefits:

- Medical, Dental, and vision plans

- 401(k) and matching

- Paid Time Off

- Company Paid Life Insurance