Sr. Collector Job South Naperville Area area,Illinois USA,Finance & Banking

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Sr. Collector

Regular Full Time Clerical Corp Headquarters, Bannockburn, IL, US

Salary Range: $25.54 To $38.31 Hourly

Award-Winning Workplace. People-First Culture.
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The salary range for this position is $ 25.54 to 38.31 , with an anticipated hiring range of $25.54 to $31.92 based on qualifications and experience. The broader range reflects the full pay grade for the position, including future growth opportunities within the role

The Sr. Collector is responsible for the daily collection of more complex, past due accounts and is considered a Subject Matter Expert (SME) within the Collections Department. Possesses a strong understanding of all loan types, shares and ancillary products. Mitigates losses through calls, letters, skip tracing, credit analysis, securing members’ accounts to offset delinquencies, determining debt collectability, settlement reviews, and recommendation and review for loan restructures.

This position is also responsible for managing the charge-off process of both loans and shares, and post-charge off collection efforts to maximize recovery via placement with external agencies and attorneys. The Sr. Collector is driven to excellence, works with minimal supervision, and drives outstanding results. They will ensure that the needs of GLCU are met by providing high quality services to members, both internally and externally, while maintaining compliance with all state and federal laws pertaining to GLCU, and the Fair Debt Collection Act (FDCPA).

This role possesses a strong knowledge of the GLCU Collections Policy, procedure and systems, inclusive of consumer bankruptcy, repossession and foreclosure. This position acts as a team resource within the Collections Department and will possess the ability to work across all lines of the business to effectively service the membership, as needed. At the discretion of the Collections Manager, may assist with departmental training.

As

the Sr. Collector, you will:

All of the duties and responsibilities of Collector along with the following:
Maintains follow-up on past due accounts greater than 30 days, contacting the borrower(s) for prompt repayment of obligations or a mutually acceptable deferred payment plan.
Manages the repossession of collateral from initial placement through sale and posting of sale proceeds.
Files for refunds of all ancillary products in matters involving repossession.
May appear in court proceedings when applicable, to serve as witness for credit union.
Reviews and may authorize settlements on charged-off accounts within approved limits
Refers accounts and members to agencies and attorneys for additional post charge off recovery collections.
Responsible for monitoring lien perfection within assigned queue (vehicle & consumer loans).
Negotiates repayment agreements with members in collection/legal cases.
Reviews and makes recommendations to Management for settlement offers.
Assists the Manager with all departmental audits and internal controls as required.
Participates in cross-training of departments which impact Collections.
Assist with the monthly charge-off process of loans and shares.
Responsible for maintaining compliance with all applicable federal, state, and local laws and regulations, and adhering to all GLCU policies, procedures and…