• Collections Specialist I

    Posted Date 1 month ago(10/30/2018 11:19 AM)
    Location : City
    8:00 a.m. - 5:00 p.m. Monday - Friday - one out of every 6 Fridays will stay until 5:30pm
    Salary Grade
    USD $16.54/Hr.
    USD $20.19/Hr.
  • Overview

    The Collection Specialist collects monies from delinquent accounts in order to minimize the loss to the credit union. They assist members by giving them guidance to help them bring their accounts current. The Collection Specialist focuses their collections efforts on credit card, line of credit, pay check advance and all other consumer loan types.


    This position must effectively carry out the essential duties of this position in a manner that consistently demonstrates the core values of the organization in a positive manner.


    1) Review and collect assigned delinquent loans - 50%

    a. Manage delinquency on loan account using collection techniques.

    b. Review and collect on assigned delinquent accounts 1 to 120 days past due.

    c. Review individual delinquent loan data to gather background information, determine potential reason for delinquency and collection ability.

    d. Document member conversations, including any relevant loan information and action taken.

    e. Ensure required notifications, including collection emails, letters and any applicable state/regulatory letters are sent to members.

    f. Analyze accounts to determine next steps, by assessing account type, amount owed, credit bureau scoring, collateral value, etc.

    g. Send required legal documents to attorney regarding selected delinquent accounts for money judgments, replevins and repossessions pickups

    h. Correspond with attorneys regarding accounts that have been sent for legal.

    i. Review autos out for repossession on a weekly basis to check status. Note accounts regarding repossession activity. Serve as liaison for repossession agency by providing additional detail, documentation or information as requested.

    j. Recommend and process qualifying accounts for collection workout loans.

    k. Share any loan concerns with the management team including underwriting, trends and member feedback.

    l. Analyze delinquent accounts to determine if they are uncollectable based on past due status, payment history and member contacts. Then Prepare uncollectable accounts for charge off on a monthly basis.


    2) Department Performance - 15%

    a. Work as a team to meet specific department goals for delinquency and net charge offs



    3) Member Services - 20%

    a. Respond to verbal and written inquires regarding general loan questions.

    b. Reconstruct circumstances and application of payments on specific loans and make the necessary corrections.

    c. Review delinquency and related detail to include lack of payment(s) related to disability claims, and take necessary action.

    d. Assist in reaching resolutions to problems within the Lending Division when necessary.


    4) Serve as an engaged member of the Collections Team - 15%

    a. Assume responsibility for personal development through training, collaboration and teamwork.

    b. Take ownership for change. Analyze, justify and recommend change in operations to enhance productivity and improve service.

    c. Identify and implement process improvements.

    d. Participate in project work associated with business priorities outlined in the strategic plan, provide or attend training to strengthen knowledge base.

    e. Actively participate in dialogs, group meetings and trainings. Assume ownership for securing information communicated during personal absence.

    f. Provide support to other term members by providing coverage as needed. This includes but is not limited to providing coverage for vacations and unplanned absences.

    g. Support, guide and mentor les experienced staff.

    h. Perform other duties as assigned.


    To perform this job successfully, an individual must demonstrate regular, predictable attendance and be able to perform each essential duty satisfactorily. The requirements listed below are representative of the knowledge, skill, and/or ability required. The individual must be able to successfully pass background checks.


    - Associates degree in business or related field desired

    - 2-3 years of experience in banking, retail, or customer service required.

    - Strong customer service skills and the ability to skillfully handle confrontation.

    - Strong attention to detail.

    - Effective organizational, decision making and interpersonal skills.

    - Demonstrated analytical, problem-solving and system knowledge.

    - Must have strong oral and written communication skills.

    - Able to work independently, organize and prioritize work.

    - Knowledge of the fundamentals of collections concepts and practices.

    - General knowledge of FDCPA – Fair Debt Collections Practices Act.

    - Knowledge and experience of applicable laws and legal aspects of collections, bankruptcy and repossession.

    - Knowledge of fundamental loan and deposit programs, concepts and practices.

    - Working knowledge of loan products and underwriting.

    - Knowledge of personal computers including Microsoft Office.


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