Collections Specialist

Collections Specialist

Apply today for a remote Collections Specialist opportunity! After the first three weeks of onsite training, transition to a fully onsite work schedule. If you're interested in this role, please book time here for a virtual call!

The Loan and Share Mediator is responsible for collecting delinquent loan accounts and resolving related collection issues across a variety of consumer and small commercial products. This role focuses on delivering excellent member service while effectively reducing negative share balances and past-due accounts in compliance with all applicable state and federal regulations.

• Collect delinquent accounts assigned by department leadership, including member negative share balances, Master Card accounts, consumer loans, and small-balance commercial loan accounts.
• Maintain accurate and up-to-date records that may be used in the collection of accounts, ensuring data integrity and compliance.
• Acquire and preserve current knowledge of state and federal laws related to bankruptcy and apply this knowledge to collection activities.
• Acquire and preserve current knowledge of state and federal laws related to foreclosure and apply this knowledge appropriately.
• Make informed recommendations to management regarding repossessions, charge-offs, or additional internal collection efforts.
• Apply expertise in the Telephone Collection Practices Act and Fair Debt Collection Practices Act when conducting collection activities.
• Use knowledge of regulations surrounding the right of offset and freezing funds, including considerations related to SSI, SSD, and pension income.
• Retain and apply state and federal laws governing repossessions to ensure compliant practices.
• Stay well informed about the Fair Credit Reporting Act and CFPB regulations as they pertain to collections and credit reporting.
• Follow rules and procedures for handling accounts of deceased members with sensitivity and regulatory compliance.
• Maintain professional business relationships with outside collection attorneys, repossession agents, and other collection-related vendors to ensure accurate and timely service.
• Maintain collection figures, reports, and performance data as specified by the department manager.
• Participate in outbound calling and call center activities to contact members, negotiate payment arrangements, and resolve account issues.
• Provide excellent member service during all interactions, focusing on call quality, efficiency, and meeting performance goals set by management.
• Utilize Microsoft Excel and other Microsoft Office applications to support reporting, data entry, and administrative tasks.
• Perform clerical and administrative duties such as filing, data entry, and maintaining documentation related to collections.

• High school diploma or equivalent.
• Minimum of 2 years of experience in telephone collections or a call center environment preferred.
• Proficiency in outbound calling and call center operations, including handling high call volumes.
• Working knowledge of the Telephone Collection Practices Act and Fair Debt Collection Practices Act.
• Understanding of state and federal laws related to bankruptcy, foreclosure, repossession, and collections.
• Knowledge of regulations related to right of offset and freezing funds, including considerations for SSI, SSD, and pension income.
• Familiarity with the Fair Credit Reporting Act and CFPB regulations as they pertain to collections.
• Ability to maintain accurate records and collection figures using Microsoft Excel and Microsoft Office.
• Strong clerical and data entry skills with attention to detail.
• Customer service skills with a focus on call quality and member satisfaction.
• Ability to work efficiently toward specific performance goals and metrics.

• Experience in a financial institution or collections environment is beneficial.
• Proficiency with Microsoft Excel functions, including V-lookups, to support reporting and analysis.
• Experience in administrative assistance, clerical administration, and filing.
• Ability to build and maintain professional relationships with external vendors such as collection…