Collections Officer

Collections Officer

Perform outbound and inbound calls to members who have defaulted on an obligation. Requires little supervision after training and works under the general supervision of the Collections Manager and Team Lead. The employee is to work with members to help each member cure the default and to offer exceptional member service with each contact made. The objective is to reduce delinquency and charge off loans, leases and credit cards.

• Checks all accounts to be worked for any transaction since the previous contact date. Collector will decide collection activity required considering member's cooperation in establishing payment arrangements. Adheres to departmental and regulation standards.
• Contacts members, primarily by telephone, whose accounts require payment or payment arrangements for continuance of loan on an installment basis. May also contact member by memo, letter, or email if telephone contact is not possible.
• Accepts incoming telephone calls that request information concerning account condition and will make suggestions or propose alternatives of payment to member. Has latitude in proposing and suggesting plans of action to bring account current.
• Receives requests from members whose accounts are assigned to the Collections Department for additional loans or workout loans. Such instances require approval of Collection Management.
• Submits due date changes or payment waivers, according to policy, as a service to members and records those changes.
• Initiates file maintenance changes at the request of member or as information is gathered through processing of account.
• Consults with Collection Management as needed, to seek suggestions or technical advice in collection of a delinquent account. Makes recommendation as to economic futility or further collection effort in some instances. Makes recommendation as to which action should be initiated if loan collateral is jeopardized or if collection conditions necessitate, such as legal action or repossession, etc.
• Maintains detailed written record of all conversations with member or other pertinent information to support decisions and status of loan account.
• Works with the Collection Management to ensure accounts are handled appropriately and every payment option is exhausted before recommending repossession or charge off.
• Performs skip tracing to try and locate the member and / or the collateral that is secured by CUTX. Skip-tracing may involve contacting references and locating information from various resources.
• Understanding of how fees are applied to a share account, and procedural time frames of the delinquency regarding a demand deposit account.
• Workout payment arrangements prior to closing / charging off the share account to reduce share account losses.

Performs other related duties and special projects as requested.

Other duties necessary to achieve the goals of the credit union:
As assigned

Positions directly supervised: N/A

MUST have experience working in a call center, banking, or collections environment. Must show that you are able to negotiate payment arrangements and possess time management skills.

• Must be willing to work until 7PM and two Saturdays a month.
• Call center, collections, or banking experience.
• Must have a working knowledge of collection regulations.
• Personality is extremely important in this position. To fit in with the team, it's important to have a positive attitude, and be open minded and flexible enough to work with any given situation a member may present.
• Basic understanding of loan policies and procedures.
• An ability to work individually on a project or in a team environment.
• Good judgment and discretion when dealing with sensitive topics.
• Able to interact with many people and multiple interruptions while staying on task.
• Strong computer and technology skills.
• Basic understanding of using a fax machine, shared printer, and typing skills above 40wpm.

High school diploma or general education degree (GED) and one to two years related experience and / or training.

Minimum 1-2 years or more of similar or…