Collections Specialist II

POSITION SUMMARY

The Member Solutions Specialist II is responsible for preserving the credit union's assets by controlling delinquent loan accounts, collecting delinquent loan payments, working later stage accounts, training and development of Member Solutions Specialists I, managing repossession accounts, legal accounts, charge offs, and recovering collateral.

POSITION RESPONSIBILITIES

• Training and development of new hires to the Member Solutions department.
• Develop and maintain training manuals and departmental procedures for the Member Solutions department.
• Handles escalated and/or complex calls and member resolution decision making.
• Monitor and maintain the 60 day+ delinquent accounts by contacting members and coborrowers via telephone, email, and mail to determine the reasons for delinquency. Make recommendations to management regarding potential litigation, repossession, and charge offs.
• Arrange for debt repayment or establish repayment schedules, based on members' financial situations to bring accounts to a current status. Analyze financial situation of delinquent borrowers; make recommendations to liquidate collateral or foreclose when other arrangements to bring the loan current are unsuccessful; offer financial counseling sources, repayments plans, deferments, rewrites forbearances, etc.
• Maintain a professional image of the credit union in dealing with members: provide helpful, friendly assistance, upgrade knowledge of financial products and protect member confidentiality.
• Skip trace on accounts including contacting references, other lenders, and other sources of information by telephone for additional information to determine the member's financial situation.
• Input data into the credit union's collection system, maintain an accurate record of communication and generate reports as requested.
• Maintain accurate data for repossession log, charge-off list, etc.
• Assist members with delinquent real-estate loans and taxes to resolve delinquency.
• Manage deceased accounts regarding collection matters including but not limited to filing estate claims, recommending special administrations when appropriate, recovering collateral, and recommending for charge off.
• Complete and monitor repossession activities including self-help repossession, replevin actions, disposition of collateral, application of sale proceeds, and proper notification to borrowers.
• Recommends and prepares legal referrals and documentation for replevins, wage garnishments, small claims, and large claims actions.
• Ensures compliance with all banking laws, rules, regulations, and prescribed policies/practices/procedures necessary to reduce risk and uphold ethical standards related and required by one's duties.
• Complies with all aspects of BSA/AML and OFAC regulations as it relates to this position.
• Additional duties as assigned.

EDUCATION AND EXPERIENCE

• High school diploma or GED.
• Minimum of three or more years of complex experience in collections within a financial institution.

KEY COMPETENCIES

• Strong interpersonal skills with a friendly, professional demeanor.
• Excellent attention to detail and accuracy in documentation of interactions and repayment agreements.
• Knowledge of regulations and laws, including the Fair Debt Collection Practices Act, bankruptcy laws and restrictions on collections and member contact.
• Ability to assess a member's financial situation and offer realistic repayment options. Skilled in resolving disputes and overcoming objections.
• Proficient computer skills including Microsoft Office; ability to learn core banking systems.
• Ability to work Saturdays as scheduled.

PHYSICAL DEMANDS AND WORK ENVIRONMENT

• Work Environment: Business office, the noise level in the work environment is usually quiet to moderate.
• Physical Requirements: Ability to sit or stand at a desk the majority of the day; talk or hear; stand or walk occasionally. While performing the duties of this job, the team member is typically utilizing a computer, keyboard, and phone. May occasionally reach with hands and arms; stoop, kneel, and crouch.

WHAT DO WE OFFER?

BENEFITS

• Medical, dental and vision insurances
• Supplemental insurances
• Pre-tax and Roth 401(k) Safe Harbor options
• Flexible spending accounts
• Health Savings Account (HSA)
• Paid time off (PTO)
• Paid holidays, including birthday
• Bereavement and pet leave
• Basic Life/AD&D, short-term and long-term disability coverage at no cost
• Voluntary Life/AD&D
• Employee Assistance Program

The above information has been designed to indicate the general nature and level of work performed by persons within this job this job classification. It is not designed to contain or be interpreted as a comprehensive inventory of all the duties, responsibilities, and qualifications required of persons assigned to this job. Additional duties may be required to perform the job effectively.