Collections Specialist

Description

Responsible for performing collection activities associated with all delinquent and charged off member accounts and loans, including VISA credit and debit cards, lines of credit, secured loans, signature loans, real estate loans, and home equity lines of credit. Review delinquent and charged off accounts, determines the Credit Union's position and, as circumstances indicate, directs and assists legal counsel in resolution proceedings.

Assists in fraud and bond claims when requested by Management. Ensures that the Credit Union's professional image is maintained.

• Assumes responsibility for the effective and professional performance of resolution functions.
• Utilizes effective human relations' skills and various forms of persuasion to present a positive Credit Union image in an already negative situation. Answers member questions and complaints relevant to Department functions. Determines Credit Union position in legal proceedings and works to minimize losses.
• Uses experience and knowledge of Credit Union loan policies, procedures and documentation to review member's files in order to establish effectiveness of resolution proceedings.
• Works toward prompt resolution of negative and delinquent accounts through negotiations with member.
• Initiates small claims proceedings when appropriate
• Represents the credit union in small claims proceedings when necessary.
• Prepares records as requested by Department Manager.
• Performs resolutions efforts in accordance with Credit Union policies and procedures and ensures they are legally compliant.
• Assumes responsibility for efficient administration of resolutions activities.
• Keeps accurate and up-to-date activity reports on assigned accounts and/or loan delinquencies.
• Documents all resolution actions taken, including telephone conversations, alternative financial arrangements, and correspondence.
• Researches negative share accounts that appear on negative reports to ensure that Credit Union errors are detected promptly. Provides members the opportunity to fully explain their negative status.
• Responsible for managing the maintenance, repair and security of repossessed properties, as directed and approved by management. Responsible for collateral repossessions, and the disposition of repossessed Credit Union assets.
• Assumes responsibility for ensuring that professional business relations are established and maintained with Credit Union members and all other professionals.
• Maintains the Credit Union's professional reputation throughout resolution operations and in all contacts with members, legal counsel, outside agencies and all other outside professionals.
• Works with negative or delinquent borrowers to reach suitable arrangements to restore accounts to current status. Utilizes effective human relations skills and persuasion to calm irate members and resolve negative situations. Discusses possible financial arrangements, informs members of possible legal actions, and provides or suggests financial counseling as means to arrive at suitable payment arrangements.
• Maintains confidentiality.
• Assumes responsibility for establishing and maintaining effective communications and coordination with Credit Union personnel.
• Assist area personnel as needed.
• Keeps Management informed of activities, progress attained toward established objectives, and of any significant problems.
• Attends and participates in meetings as required.
• Assumes responsibility for related duties as required or assigned.
• Stays informed of changes in resolution policies, procedures, and related legal requirements.
• Ensures that work area is clean, secure and well maintained.
• Actively & professionally cross-sells Credit Union services.
• Must have reliable transportation to fulfill the duties of a Resolution Specialist.

• High school graduate or equivalent.
• Additional business training strongly preferred.

• General knowledge of resolution procedures, skip tracing and related laws and regulations.
• Understanding of Credit Union loan products and policies.
• Familiar with…