Advanced Collection Specialist

Description

Job Summary:

The Advanced Collections Specialist serves as the department's subject matter expert for complex collection matters and assists members experiencing financial hardship through effective workout solutions. This position manages high-risk delinquent consumer and real estate loan portfolios, coordinates legal collection activities, mentors less experienced staff, and works closely with the Collections Manager to reduce losses while maintaining the Credit Union's commitment to exceptional member service.

• Serves as the Credit Union's subject matter expert for complex delinquent consumer and real estate loan accounts.
• Develops payment arrangements, loan modifications, settlements, and other workout solutions that balance member needs with the Credit Union's financial interests.
• Coordinates bankruptcy proceedings, repossessions, foreclosures, deceased accounts, legal referrals, and other specialized collection activities.
• Serves as the department's technical resource for collection laws, regulations, policies, and procedures.
• Mentors and assists Collections staff through training, coaching, and sharing best practices.
• Identifies delinquency trends and recommends process improvements to the Collections Manager.
• Maintains productive relationships with attorneys, repossession companies, collection agencies, insurance providers, and other third-party vendors.
• Promotes a respectful, professional, and member-focused approach that supports financial recovery while protecting Credit Union assets.
• Reviews portfolio trends and provides recommendations to the Collections Manager regarding delinquency patterns, recovery opportunities, and process improvements.
• Provides support to the Collections Manager by assisting with departmental operations and serving as a resource during the Manager’s absence.
• Supports continuous improvement initiatives that increase efficiency, compliance, and member experience.

• Manages an assigned portfolio of complex delinquent consumer and real estate loan accounts.
• Contacts members by telephone, email, mail, text, and other approved communication methods to resolve delinquent accounts.
• Investigates account history, payment activity, collateral, credit information, and financial circumstances to determine appropriate collection strategies.
• Maintain current knowledge of collection laws, bankruptcy regulations, industry best practices, and Credit Union policies through ongoing professional development.
• Educates members regarding available Credit Union products and services that may improve their long-term financial well-being when appropriate.
• Negotiates and recommends loan modifications, payment deferments, settlements, and other workout solutions within established authority.
• Coordinates bankruptcies, repossessions, foreclosures, deceased accounts, garnishments, judgments, insurance claims, and collection agency referrals.
• Maintains complete, accurate, and timely documentation of all collection activities and member interactions.
• Reviews accounts for charge-off recommendations and prepares supporting documentation for management approval.
• Assists with skip tracing activities using approved resources to locate members and collateral.
• Serves as a resource for Lending, Branch Operations, Mortgage, and Member Service staff regarding collection procedures and member assistance options.
• Assists in onboarding and training new Collections employees while sharing best practices and technical expertise.
• Reviews collection documentation and activities to promote consistency, accuracy, and adherence to department and Credit Union standards.
• Participates in department meetings, training, audits, and process improvement initiatives.
• Ensures compliance with all federal and state regulations, Credit Union policies, and collection standards.
• Exercises sound judgment and independent decision-making when evaluating complex member situations, balancing regulatory requirements, Credit Union risk, and member service objectives.
• Performs other duties as assigned.

• Negotiate payment arrangements within delegated authority.
• Recommend settlements.
• Recommend charge-offs.
• Recommend repossession.
• Recommend legal action.
• Coordinate with attorneys and vendors.
• Recommend policy and process improvements
• Escalate exceptions requiring management approval.

Minimum qualifications include prior collections experience, knowledge of consumer lending and collection practices, and the ability to interpret and apply applicable laws, regulations, and Credit Union policies.

• Consumer and mortgage collections
• Bankruptcy law and procedures
• Repossessions and collateral recovery
• NCUA regulations
• FDCPA
• Skip tracing
• Negotiation and conflict resolution
• Financial counseling
• Microsoft Excel and collections software
• Analytical problem solving
• Strong written and verbal communication

• High school…