Collections Specialist

REGIONAL federal credit union is a growing and leading provider of banking products and services in Northwest Indiana is seeking an experienced Collections Specialist to join our Team. Qualified applicants must be dynamic, innovative, member-focused, possess strong negotiation, communication, and problem-solving skills while maintaining positive member relationships. If you enjoy helping people and want to experience the REGIONAL difference, we would love to meet with you.

• Greet, welcome members, and visitors to the credit union in a professional manner. Represent the credit union to members in a courteous and professional manner and provide prompt, efficient and accurate service.
• Maintain up-to-date and comprehensive knowledge of all credit union products and services, policies, guidelines, procedures, rules and regulations.
• Monitor delinquent loans and overdrawn share accounts. Contact members with delinquent loans and other high-risk accounts by phone, written, electronic or in person correspondence to determine the reason for delinquency and resolve any past due accounts.
• Notify cosigners regarding the delinquent status of accounts.
• Update all internal work cards/collection notes with account status and member communication results in the core system.
• Negotiate payment arrangements, extensions, modifications with established guidelines.
• Educate members on loan terms, payment options and consequences on non-payment.
• Send out delinquency notices within the established credit union time frames.
• Secure credit bureau reports. Skip trace on loan accounts. Maintain accurate data for repossession log, bankruptcy files, charge-off list, etc.
• Research payroll deductions, stops, starts, and changes as they may affect the status of a loan repayment.
• Work with 3rd party vendors as part of the collection process relating to standard collections, expenses, advanced collection and legal proceeding activities.
• Determine when loan collateral should be repossessed, foreclosed or liquidated and serve as a liaison with attorneys or agencies involved in this process.
• File claims, attend hearings (as needed), communicate with credit union attorneys or agencies and coordinate with trustees for all bankruptcy filings.
• Process and maintain monthly tracking on all third party and trustee payments on collection and bankrupt accounts.
• Maintain delinquent loan watch list and make recommendations on monthly charge off accounts to lending management as needed.
• Make recommendations when to structure a workout or settle balances on delinquent and/or charged off loans.
• Make recommendations regarding any policy, guideline or procedure changes resulting from delinquency trends or regulatory rules.
• Serve as a backup to mortgage processors on lien perfections.
• Assist with the monthly negative share and returned check collection activities.
• Investigate and correct discrepancies in loan applications and credit bureau reports. Cross-selling credit union products and services in support of established sales and service goals.
• Assist the loan department, branches and other team personnel with the loan application interview, review and disbursal process as needed.
• Effectively communicate with management and credit union team members in support of the credit union’s communication standards and expectations.
• Assist with member account and/or card fraud activities. Complete other duties as assigned by VP of Lending and Collections and other management.

• 1-3 years collection experience preferred.
• 1-3 years loan operations experience preferred.
• Cross selling and consultative sales experience preferred.
• Bilingual-Spanish speaking preferred.
• Excellent communication skills.
• Strong negotiation and conflict resolution skills.
• Ability to manage difficult conversations with professionalism & empathy.
• Highly detail-oriented.