Michigan First Credit Union · 3 months ago
Payment Solutions Representative (Collections)
Lathrup Village, MI
Full-time
Onsite
Mid Level
3+ years expMichigan First Credit Union is a financial institution that delivers world-class service to over 160,000 members. They are seeking a Payment Solutions Representative who will assess members' financial situations and recommend solutions to resolve delinquency, utilizing creative problem-solving techniques and collection tools.
BankingFinanceFinancial Services
Responsibilities
Conducts interviews to assess member’s financial situations; recommends solutions to resolve delinquency using creative problem-solving techniques and collection tools
Explains expectations and notifies member of consequences if expectations are not met
Motivates member to implement and stay with proposed solution
Uses a systematic process for identifying delinquent accounts of members/borrowers and follows established methods and procedures for immediately responding to delinquent situations with collection activity
Prior to contacting the member, reviews both the account and loan application information to build a profile of the member and understand who they are
Interviews the member in-depth to help further assess their needs and help to determine potential resolutions
Consistently uses all stages of the Michigan First sales and service standards when relating to members
Maintains good business relations with members, courteously and promptly resolving member problems or questions, and effectively assisting with member account problems
Responsible for investigation of fraud cases and possible legal action and collection for delinquent accounts and uncollected checks
Reviews collection reports to monitor status of collections and outstanding balances and to evaluate effectiveness of current collection policies and procedures
Audits delinquent accounts considered to be uncollectible to ensure maximum efforts have been taken before assigning bad debt status to account
Investigates credit report disputes and authorize corrections if necessary
Coordinates with others ‑‑ including the service and system provider’s team members or consultants, credit card companies, credit bureaus, insurance companies, collateral protection agencies, and registry offices ‑‑ a program, standard procedure and process to ensure that the credit union's risk in lending in reduced to a certainty
Takes action to repossess, foreclose, and take possession of collateral security involved in delinquent loans
Conducts evaluations of collateral security and arranges for the disposition of same
Stays current with all provisions of the Federal and State Bankruptcy codes and regulations as well as Repossession and Collection Laws
May represent the credit union in court concerning legal processes connected with collection, bankruptcy, and other creditor/debtor situations
Attends hearings concerning bankruptcy and presents testimony on behalf of the credit union
Promotes good working relationships with team and Team Leaders, providing assistance, and appropriately informing the others within the credit union of area activities as needed
Becomes/is an advocate of the Michigan First culture, supporting diversity, philosophy and other credit union initiatives
Fosters a positive image of Michigan First via professional representation in all contacts and complies with all of Michigan First’s mission and vision goals
Reflects each of the credit union’s “Isms” in daily job performance
Learns and utilizes the EMEC way (Every Member’s Experience Counts) in day-to-day responsibilities when communicating with members and team members
Maintains files, records, and journals to provide a chronology of collection activity for every delinquent account, and provides weekly, monthly, and quarterly reports of collection results
Qualification
Required
High school graduate or equivalent
Three to five years of collection or related experience; understanding or experience with financial institution products and services preferred
Must have exceptional customer service skills and interviewing skills including the ability to assess customer needs, meet the quality of standards of Michigan First, and provide member satisfaction
Maintains a collection program and related processes that result in a charged‑off loan ratio, delinquency ratio, and an error-free exception standard on all delinquent accounts that are in keeping with credit union standards and requirements
Ability to complete detailed and informative notes on interactions/ discussions with member
Handles conflict with a concern for the member and the outcome
Must have a persuasive personality to influence member decisions
Needs critical thinking skills to identify the best course of action for members by learning and creating innovative solutions and choosing the best alternatives
Has the ability to gather and analyze data and make a decision that reflects that level of analysis
Sets and achieves challenging goals and measures against a standard of excellence, constantly striving to improve their performance
May require Notary Public certificate to execute documents on behalf of members and the credit union
Must be able to use the credit union's computer system
Ability to utilize on‑screen loan processing provided by the credit union's main system
Ability to operate standard office machines such as a photocopier, fax machine, personal computer, and such equipment normally found in a credit union
Understand the provisions of the Fair Credit Reporting Act to maintain compliance with regulatory permissions and restrictions
Preferred
Associate's degree in a related field is preferred
Understanding or experience with financial institution products and services preferred
Benefits
Very competitive pay
Low-cost medical, dental, and vision benefit options. Employer-paid life and disability insurance
401(k) - 100% match up to 5% deferral
Tuition reimbursement for both Undergraduate and Graduate degree program
Access to a complimentary concierge service that assists with nearly any item on your to-do list
Free, state-of-the-art fitness center at our Lathrup Village headquarters with exercise equipment, showers and locker rooms
Wellness initiatives and events throughout the year to help team members stay healthy
Loan discounts for certain secured and unsecured loans and mortgages
Opportunities for pay increases, incentives and profit-sharing, based on performance
Onsite subsidized top notch Cafe 26 for team members' use
Onsite bowling center
Company
Michigan First Credit Union
Michigan First Credit Union is a provider of personal and business loan services.
201-500 employees
Funding
Current Stage
Growth StageTotal Funding
$3.72MKey Investors
Community Development Financial Institutions Fund
2023-04-10Grant· $3.72M
Leadership Team
Michael Poulos
Retired
Recent News
Detroit Free Press
2024-05-19
2024-05-19
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