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America First Credit Union · 3 weeks ago

Collections Specialist 2

Utah

Full-time

Onsite

New Grad, Entry Level

America First Credit Union is a financial institution seeking a Collections Specialist 2 to manage collection activities for delinquent member accounts. The role involves contacting members to resolve delinquencies, maintaining accurate records, and ensuring compliance with collection laws and regulations.

FinanceFinancial ServicesNon Profit

Responsibilities

Under the direction of the manager will be responsible for performing collection activities associated with various delinquent member accounts, including Visa credit and debit cards, lines of credit, secured loans, signature loans, and over limit VISA credit and debit cards

Reviews delinquent accounts to determines probable reasons for account status, and contacts members to assist with finding a long-term solution to correct the delinquency

Utilizes various techniques, as circumstances indicate, to promptly collect on accounts and ensure the Credit Union's professional image is maintained

Has basic knowledge to assist Real Estate, Bankruptcy, Garnishment/Levy, overdrawn shares and Credit Bureau areas

Assists coworkers, other areas of the Credit Union and vendors promptly and proficiently

Effective and professional performance of collections functions with the ability to use multiple Credit Union systems and other essential programs

Receives delinquency data from the Credit Union’s Collection Software and verifies status and history of the account by using experience and knowledge of Credit Union loan policies and procedures and documentation to help verify existence of assets or evidence of fraud

Follows up on delinquent loans and problem accounts by telephone, and other correspondence to develop a satisfactory repayment plan

Informs members of potential further actions

Makes early contact with members and co-makers to collect and keep them informed of loan status

Makes effective use of Collection tools

Utilizes effective human relations skills and various forms of persuasion to present a positive Credit Union image with often challenging situations

Calms irate members and answers member questions and complaints relevant to Department functions

Determines reasons for delinquencies and works toward permanent solutions

Minimizes losses by early actions

Maintains collection activity on high risk loans at early delinquency

Reviews and maintains accounts from unsecured share loan report

Maintains expected phone adherence and ready time statistics

Monitors loans to ensure members have adequate insurance coverage to protect collateral and the Credit Union's interests

Performs processing of collection approved loan extensions

Reviews and recommends financial counseling, loan modifications as needed

Coordinates voluntary surrenders to secure collateral when appropriate

Performs skip tracing to promptly set forth the process of recovering collateral and to cure delinquency on unsecured loans in a timely manner

Determines the need for repossession and prepares justification with collateral values, location, and condition

Completes related processes for further review of repossession recommendation

Negotiates terms to place a repossession on hold and or cancel, while maintaining sensitivity, tact, and professionalism

Utilizes further appropriate collection methods if initial attempts do not secure required payment

Determines if accounts meet requirements for further collection action

Recommends accounts for charge off and completes related processes

Understanding of Credit Union title processing to assist with collection of unsecured titles

Basic knowledge of Bankruptcy Law and ability to answer basic questions and refer account to Loss Mitigation accordingly

Performs collections efforts in accordance with Credit Union policies and procedures, Unfair, Deceptive or Abusive Acts or Practices, Service Member Civil Relief Act, Fair Debt Collection Practices Act, Fair Credit Reporting Act, and Fair Lending Act to ensure all efforts are legally and regulatory compliant

Efficient administration of collections activities

Keeps assigned collection accounts accurate and up to date

Performs a variety of typing duties including member and 3rd party correspondence, reports, and document preparation

Accurately documents all collection actions taken, including telephone conversations, alternative financial arrangements, and email or text correspondence

Understanding of Collection industry laws and regulations to maintain compliance

Cross collateralizes assets when the credit union has taken a loss

Researches loan accounts that appear on late and potentially late records to ensure that Credit Union errors are detected promptly

Provides members the opportunity to fully explain their loan status

Ensuring that professional business relations are established and maintained with Credit Union members

Maintains the Credit Union's professional reputation throughout collections operations and in all contacts with members and 3rd party vendors

Maintains confidentiality

Represents the Credit Union in all Core Values when interacting with members, the community and or vendors

Operates with integrity while setting an example of a positive attitude and professionalism

Establishing and maintaining effective communication and coordination with Credit Union personnel

Assists 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

Other for related duties as required or assigned

Stays informed of changes in collections' policies, procedures, and related legal requirements

Actively and professionally cross-sells Credit Union services

Maintains cleanliness and security of work area, desks, and equipment

Qualification

Collection lawsFluent in SpanishFluent in EnglishCredit Union loan knowledgePublic relations skillsProfessional attitudeHandle stressComputer application skillsCommunicationWork independently