Purpose: The Legal and Bankruptcy Specialist is responsible for the documentation and filing of loan bankruptcy materials with appropriate attorneys and courts. This position ensures full compliance with bankruptcy regulations and performs administrative tasks to prepare and file all legal documents, handle bankruptcy court and attorney correspondence along with other verbal and written communication with courts, trustees, attorneys and clients.
Essential Functions:
- Expert knowledge of both federal and state statues regarding bankruptcy. Keep up to date on any regulatory changes and update department procedures and Job Aids.
- Compose, prepare and forward legal documents and other correspondence to attorneys, courts and Trustees.
- Review petitions for Chapter 7, 11, and 13 cases. Track intentions for re-affirmations, collateral and real property surrenders and monitor responses. File Proof of Claims and re-affirmation documents with the attorneys and courts. If intentions are not stated in petitions, contact attorneys for further information. Ultimately process bankruptcy plans and claims.
- Research legal sources utilizing various research tools and systems, i.e.; Pacer. Update reports, spreadsheets and distribute accordingly.
- Document loans with information on filing dates; chapter; attorney names, addresses, phone numbers; 341 hearing dates; secured/unsecured interests; re-affirmation and/or surrender intentions.
- Input and process all petitions, discharges, dismissals and further documentation to secure the position of the bank and its claims relative to the bankruptcy. Review exceptions and work with attorney offices. Monitor on-going status of bankruptcy loans, and Motions for Relief from Stay.
- Serve as primary contact for all matters relating to bankruptcy. Serve as primary liaison with attorneys, courts and Trustees. Initiate and receive telephone calls – maintain timely communications with all parties concerned.
- Review and all invoices; balance remittances for accuracy; ensure proper data entry, expense calculations, disposition of fees, and application of payments.
- Update the various credit repositories with Bankruptcy filing, and discharge dates. Notify Loan Servicing to either continue or suspend statements and other forms of communication.
- Demonstrate the standards and principles of the Five Star Bank experience in every interaction with internal and external customers, associates, and stakeholders. Incorporate the high-performance behaviors of teamwork, leading by example, and service in every facet of work.
Job Related Qualifications:
- Education: Associate Degree
- Prior Experience: 3+ years of equivalent experience in bankruptcy processing, recoveries, collections, and/or legal processing
Competencies:
- Critical thinking, logic, and sound reasoning to identify strengths and weaknesses of solutions, conclusions and approaches to problems
- Strong verbal and written communication skills. Ability to communication effectively with peers, managements, attorneys, courts and Trustees. Must demonstrate highly defined organizational skills, ability to prioritize tasks and the ability to work independently.
- Must be detailed oriented-accurate, thorough and timely follow through. Must be able to work in a fast-
- paced environment and to meet critical deadlines to mitigate risk of non-compliance and possible loss. Maintain knowledge of compliance requirements through constant review of regulatory changes through webinars, seminars, and in-house training.
- Solid knowledge of Microsoft Office, Pacer, Jack Henry. Must possess superior knowledge of Bankruptcy laws state, federal, and local. Working knowledge of loan documents and the various loan products: Direct, Indirect, ODP, Mortgage and Small Business.
- Must possess sound problem solving and analytical skills. Must be able to research and resolve complex transactions and situations. Must be proactive to avoid the escalation of sanctions, and the imposition of fees, fines and penalties for non-compliance.
Physical Requirements:
- Able to regularly sit for prolonged periods of time.
- Extensive computer usage is required.
- Ability to work:
Benefits:
- Medical, Dental, and Vision Insurance
- Health Savings Account
- Flexible Spending Account(s)
- Company Paid Life Insurance, Long Term Disability, and Short Term Disability
- Voluntary Offerings: Life, Critical Illness/Specified Disease, Accident, Hospital Indemnity & Personal Accident
- Tuition Reimbursement
- Employee Referral Program
- Wellness Reimbursement Program
- Star Volunteer Program
- Employee Banking and Financial Perks
- Paid Time Off (PTO)
- Company Paid Holidays
This job description is not exhaustive. The Legal and Bankruptcy Specialist may be required to perform other duties as assigned.
The expected rate of pay for this position is shown above. Compensation offers are based on a wide range of factors including relevant skills, training, experience, education and, where applicable, licenses or certifications obtained. Market and organizational factors are also considered. In addition to your base rate of pay and a competitive benefits package, successful candidates may be eligible to receive cash or equity-based incentives based on the role and performance.
#LI-HYBRID