About the position
The position involves performing collection functions on past due mortgages, consumer loans, credit cards, overdrawn share draft/share accounts, and return items according to Credit Union policy and applicable collection laws. The role is focused on minimizing losses through effective collection actions and providing a superior member experience.
Responsibilities
- Perform collection actions on mortgage and consumer loans (secured and unsecured), credit cards, and negative share/share draft accounts that are generally between 30- and 60-days delinquent.
- Make phone calls and generate letters as part of collection actions.
- Utilize collections software to manage collections activity.
- Assist Asset Recovery Specialists with levies, garnishments, attorney demand letters, complaints, bankruptcies, and repossessions.
- Support member contact staff in other departments in dealing with collection accounts.
- Perform skip traces to help locate members.
- Access and interpret force-placed insurance records and file claims as appropriate.
- Post payments on delinquent loans/credit cards and charged-off accounts.
- Maintain accurate documentation of collection activity records.
- Review and recommend repayment solutions for members experiencing financial difficulties.
- Provide a superior member experience by actively listening and assessing member needs.
- Assist with the development of departmental procedures for effective collection activities.
- Handle complex situations and resolve difficult member issues.
- Review bankruptcy status to determine collection activity eligibility.
- Investigate and contact member account holders for future asset recovery.
- Assign charged off accounts to third party collection agency when appropriate.
- Follow all applicable policies, procedures, and collection laws.
- Contribute to a productive and positive working environment.
- Perform other duties as assigned by management.
Requirements
- Minimum 2 years’ experience in financial services, collections, loan servicing, lending, foreclosure, troubled debt restructuring, or related experience.
- Minimum HS Diploma or GED equivalent or more than 2 years of related experience.
- Excellent interpersonal and negotiation skills.
- Ability to handle difficult situations and persons in a positive and professional manner.
- Excellent organizational skills and attention to detail.
- Demonstrates willingness and ability to train others effectively.
- Possesses excellent verbal and written communication skills.
- Strong time management skills.
- Strong proficiency with Microsoft Office applications.
- Strong analytical and problem-solving skills.
- Solid understanding of applicable state and federal laws and regulations, including Fair Debt Collections Practices Act.
