Loan Control Officer

Description

FLSA Status:
Non-Exempt

Hours of Work:
Monday - Friday 8:00a-5:00p

Reports to:

Loan Control Supervisor

Pay Grade: 7 - $23.00 - $27.00 per hour

Under the supervision of the Loan Control Supervisor, assists in the delinquency and collection activities of the credit union.

20% Utilizing the collection queue, contact members by telephone, letter, or in person to determine the reason for their delinquent status and assist the member in developing a plan that brings their account current. Complete Extension/Workout/TDR and assist/counsels members in trouble. Perform various skip tracing techniques that locate members and update contact information.

15% Assists the Loan Control Supervisor in the maintenance of accurate records as required to legally support the collection efforts of the credit union. Assists the Loan Control Supervisor when notified of deceased accounts with loans, by completing file maintenance and holds. Also, by following up on receiving Trust documents, Affidavits, legal newspaper notifications pertaining to the Estate, and contact of the executor to ensure recovery of any outstanding loans.

Forwards accounts to supervisor for review that have exhausted collection efforts and no contact, to make suggestions for further action, or recommending of Charge off.

15% Post payments that offset shares within the account, per loan control or member request; and payments over the phone with SWBC. Authorize override request when staff posts to delinquent accounts and assist staff with basic loan control questions.

10% Initiate and transmit past due notices/letters promptly after the due date has lapsed and answer member’s inquiry on past due notices/letters. Research accounts and post E-Oscar disputes within 10 days of assignment. Block all lines of credit and Visa cards over 45 days delinquent or over credit limit, and with credit union discretion when members are showing delinquencies or negative reporting on their credit bureaus.

Complete and submit form to Accounting; complete file maintenance on account, adverse action form, correspondence and mail to the member.

10% Complete charge-off and ensure all file maintenance is complete on member/joint account. Retrieve file, create new file folders, photocopy loan documents to be assigned and forwarded to outside collection agency or attorney. Scans and files charge-offs monthly for retention. Scans and files all documents for the member file that could be legal, bankruptcy, letters, etc. that will be needed for retention.

Maintains and reconciles the repossession log and trial balance, prepares required notices relating to the repossession and sale of collateral. Reviews charge-offs with DQ minutes and GL account. Reconciles the Repossession GL monthly. Reviews all repossession files and ensure policies have been followed. Reviews all repossession files, ensures compliance with policies with documents filed properly. Completes skip tracing to locate members and contact numbers.

10% Assist member with redeeming vehicle. Maintain the repossession log with all documented information regarding the repossession, mileage, type of vehicle, safety check, tax liens, and bench warrants. Keep notes to follow-up on repossessed vehicle, and ensure the title is transferred to the credit union and the loan to GL 707 in a timely manner. Perform a variety of duties that involve repossession that may include: making arrangements for repossession and towing to designated dealer that sells repossession for credit union;

remove, log and store personal items from repossession; follow-up on repossession with tax lien or violation; transmit letters to GAP insurance and service contract refunds; file claims with SWBC; and process journal voucher that initiates payment for necessary repairs. Speaks with members regarding shipping of vehicles and prepares paperwork and letters.

10% Handles deceased accounts that have loans, by completing all file maintenance. Keeps in contact with decedents family member and ensure the account is closed by two-quarters, while showing empathy and respect.

5% Document bankrupt account and flag in absence of…