Job description
Collections Specialist
GENERAL SUMMARY
This position is part of the Collections Department team and reports to the Collections Manager. Responsibilities include collecting payments on delinquent loans that are 30+ days past due. The collections specialist will manage loan delinquencies at acceptable levels, while projecting a strong, but fair, Credit Union image.
ESSENTIAL FUNCTIONS, DUTIES AND RESPONSIBILITIES
- Collects delinquent payments on all installment loans that are 30+ days past due. May also assist Supervisor in the collection of accounts that are a minimum of 90 past due and the collection of past due mortgage loans.
- Collects delinquent Visa/Mastercard payments
- Must know regulations and guidelines set forth in the Fair Debt Collections Practices Act (FDCPA), which sets limits on the techniques and methods that can be used to collect debts.
- Has extensive telephone (Goal-80 outbound calls per day to members) and letter contact with members concerning repayment of their delinquent accounts, including personal member contact inside and outside the office
- Researches all available means to locate delinquent members who do not reply to telephone calls or letters.
- Interprets computer information to determine status of member’s ability to make payments. Also inputs important information into members’ account for future reference or to make other employees aware of members’ status
- Under supervisor’s direction, may transfer funds from any pledge or secured credit union account of delinquent member to satisfy delinquent loan account
- Assures a smooth-running collections department in the event of the supervisor’s absence by having a general knowledge of their duties
- Under supervisor’s direction, may request an account to be forwarded for legal or repossession action
- Basic knowledge of DNA, IBS Carm-Pro collection systems and Visa
- Has a thorough knowledge and understanding of credit union’s overall management philosophy, organizational structure, departmental operations and polices and procedures
- Performs other duties as assigned.
- Must understand and comply with all required federal and state regulations associated with this position.
- Must be able to speak and understand fluent English.
Duties and responsibilities may be added, deleted, or changed at any time at the discretion of management, formally, or informally, either verbally or in writing. The position description above is intended to describe the general content of this job. It is not to be construed as an exhaustive statement of essential functions, duties and responsibilities
The requirements listed above are representative of the knowledge, skills, and/or ability required. Reasonable accommodations can be made to enable individuals with disabilities to perform the essential functions.
EOE
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