Collections Specialist bei None

SUMMARY: 

The Collections Specialist is responsible for carrying out credit union collection and recovery activities with members not current on consumer and real estate loans and credit cards.  The Collections Specialist will work with members to devise payment plans to collect past due payments and repossess vehicle collateral and initiate foreclosure on severely delinquent loans in accordance with company policies and state and federal regulations.  

ESSENTIAL FUNCTIONS:

Meet or exceed company performance standards for promises to pay, delinquent payments collected, loans paid current, month over month delinquency change, contacts made, and others as defined by management

• Ensure consistent contact with assigned queue of past due members, with the goal of putting a plan in place to get members current within 60-90 days. Document plans and promises to pay in collection cards
• Manage delinquent auto loans in queue to ensure notices of cure are sent by delinquent day 45 and repossessions are ordered by delinquent day 60 unless member has made satisfactory payment arrangements, are on a Securian claim, or have filed bankruptcy. Authorize skip tracing as needed to locate collateral
• Work with members after vehicles are repossessed to redeem collateral and/or provide Notice of Private Sale. If vehicle to be sold, work with approved auto auction to provide title and establish appropriate floor price. Work with auction to obtain sale proceeds and document in core system.
• Work with company legal counsel to initiate foreclosure process on severely delinquent real estate loans.  Complete estimated foreclosure worksheets and update and document status throughout foreclosure process.  Secure property to the extent regulations allow during the foreclosure process. Arrange for inspection of property after the foreclosure and list the property with company approved Realtors. File necessary paperwork related to bankruptcy including Motion for Relief of Stay, proof of Claims, and Objections.
• Perform other collection, risk, or credit union related duties as assigned by manager
• Submit monthly charge off recommendations to senior management according to policy

SUPERVISORY RESPONSIBILITIES:

None

QUALIFICATIONS: 

 Knowledge Of:

• Credit Union policies and procedures.
• IDFPR, NCUA and federal and state regulations regarding collection, repossession, bankruptcy, and recovery activity.
• CFPB collection governance through Fair Debt Collection Practices Act (FDCPA)
• Symitar Data Processing System
• State specific legal process for recovery efforts
• State specific bankruptcy laws and practices

Ability To:

• Operate a PC using the following software applications Excel, Word, and Outlook
• Operate the Credit Union’s financial software to access member accounts to perform collection activities.
•  Work in a time sensitive environment, make sounds decisions, and communicate these decisions to members and applicable internal staff and management.
• Remain calm, patient, objective and professional when presented with difficult situations.

EDUCATION, EXPERIENCE, & TRAINING GUIDELINES:

Any equivalent combination of education and experience that provides the applicant with the knowledge, skills, and abilities, required to perform the job is acceptable.  A typical way to obtain the knowledge and abilities would be:

Education/Training

• Bachelor's degree (B.A.) or equivalent

Experience:

• Minimum2-5 years consumer and/or mortgage collection and collection experience.
• Comprehensive functional experience with:
• • Vehicle repossession and liquidation
  • Post charge-off recovery remedies
  • Bankruptcy law and lender’s rights

License or Certification:

• Bondable
• Acceptable Credit History
• Notary Public desired but not required

PHYSICAL DEMANDS:

While performing the duties of this job, the employee is regularly required to sit. The employee is occasionally required to stand; use hands to finger, handle, or control; reach with hands and arms.

The employee must occasionally lift and/or move up to 20 pounds.  Close vision, color vision, and ability to adjust focus are required by this job.

WORK ENVIRONMENT:

This job operates in a professional office environment.  This role routinely uses standard office equipment such as computers and phones.