Role
Participates in maintaining a financially sound loan portfolio through early delinquency control. Methods to accomplish this include (but are not limited to): phone calls, text messages, collection letters, and in person interviews. Recommends further action on accounts as deemed necessary including, but not limited to: repossession, legal action, foreclosure and referral to a collection agency.
Major Duties and Responsibilities
- On a daily basis, work delinquency queue. Makes early contact with delinquent members to determine reason and to negotiate a successful payment arrangement.
- Follow-ups on all delinquent accounts to ensure payment arrangements are made. Develops workout plans and collects on overdue accounts whenever possible. Recommends further action as deemed necessary (i.e. repossession, legal action, foreclosure, referral to collection agency).
- Performs thorough skip tracing on delinquent accounts as needed.
- Ensure compliance with all applicable Credit Union policies, procedures, and state and federal regulations.
- Maintains accurate data on all delinquent accounts, including initial documentation of repossessions, bankrupt and charged off accounts.
- Documents all collection activity, including in-person and telephone/text message conversations and alternative financial arrangements.
- Posts collected payment to member's accounts.
- Troubleshoots and resolves member inquiries in a timely and accurate manner. Researches automatic payment methods, stops, starts, and changes as they may affect the status of a loan.
- Work and recommend shares for charge offs that are in the queue and as assigned in compliance with the credit union's charge off policy.
- Work as a team within the department to meet the overall credit union's goals for charge off/delinquency ratios.
- Any other task/duties assigned by supervisor.
Experience
6 months to 2 years of similar or related experience, including preparatory experience.
Great negotiation skills
Ability to prioritize workflow
Excellent organizational skills
Ability to multi-task
Education
High school education or GED
Interpersonal Skills
A significant level of trust, credibility and diplomacy is required. In-depth dialogue, conversations and explanations with customers, direct and indirect reports and outside vendors can be of a sensitive and/or highly confidential nature. Communications may involve motivating, influencing, educating and/or advising others on matters of significance. Typically includes subject matter experts as well as first level to middle managers.
Other Skills
Proficiency in computer applications and other business equipment, specifically Microsoft Excel and Word. Must have the ability to learn new programs and work in a professional manner. Must be able to work quickly, independently and accurately. Must have excellent written and oral communication skills.
Physical Requirements
Perform primarily sedentary work with limited physical exertion and occasional lifting up to 10 lbs. Sits more than 6 hours a day. Must be capable of climbing/descending stairs in emergency situation. Must be able to operate routine office equipment including telephone, copier, facsimile, and calculator. Must be able to routinely perform work on computer, sitting for an average of 6-8 hours per day, when necessary. Must be able to work extended hours whenever required or requested by management. Must be capable of regular, reliable and timely attendance. Must be able to routinely perform work indoors in climate controlled shared work area with minimal noise.
Must be able to perform job functions independently or with limited supervision and work effectively either on own or as part of a team. Must be able to read and carry out various written instructions and follow oral instructions. Must be able to speak clearly and deliver information in a logical and understandable sequence. Must be able to perform basic mathematical calculations with extreme accuracy. Must be capable of dealing calmly and professionally with numerous different personalities from diverse cultures at various levels within and outside of the organization and demonstrate the highest level of customer service and discretion when dealing with the public. Must be able to perform responsibilities with composure under the stress of deadlines/requirements for extreme accuracy and quality and/or fast pace. Must be able to effectively handle multiple, simultaneous, and changing priorities. Must be capable of exercising the highest level of discretion on both internal and external confidential matters. Must be able to stay calm when being challenged by customers in a stressful manner.