Collections Officer

If you are unable to complete this application due to a disability, contact this employer to ask for an accommodation or an alternative application process.

Loans Collection Full Time Wailuku, HI, US

3 days ago Requisition

Salary Range: $48,000.00 To $51,000.00 Annually

POSITION PURPOSE

Responsible for performing collection activities associated with various delinquent member accounts, including Visa credit and debit cards, lines of credit, secured loans, signature loans, real estate loans, and home equity lines of credit. Reviews delinquent accounts, determines probable reasons for account status, and contacts members to resolve the delinquencies. Utilizes various techniques, as circumstances indicate, to promptly collect on delinquent accounts.

Ensures that the Credit Union's professional image is maintained.

NATURE AND SCOPE

This position requires excellent public relations skills and a thorough understanding of the Credit Union's lending policies and procedures as well as related legal requirements. Persistence, professionalism, and tact are vital to the successful execution of this position.

ESSENTIAL FUNCTIONS AND BASIC DUTIES

1.
Assumes responsibility for the effective and professional performance of collections' functions.

a. Receives delinquency reports from the computer system and verifies the status of the loans.

b. Follows up on delinquent accounts by telephone, personal contact, and correspondence to secure a satisfactory resolution to the repayment problem. Discusses possible financial arrangements, informs members of potential legal actions, and suggests financial counseling to arrive at suitable payment arrangements. Continues to collect until loan becomes a write-off, bankruptcy, or attorney account. Makes early contact with members and co-makers to collect and keep them informed of loan status.

Makes effective use of collection tools including daily suspense and delinquent loan activity reports.

c. Utilizes effective human relations skills and various forms of persuasion to present a positive Credit Union image in an already negative situation. Calms irate members and answers member questions and complaints relevant to Department functions. Determines reasons for delinquencies and works toward permanent solutions. Minimizes losses by early actions.

d. Utilizes further appropriate collection methods if initial attempts do not secure required payment. Recommends extensions of due dates. Suggests consolidations, financial counseling, and repossessions as needed.

e. Posts approved extensions and notifies member of new due date by mail.

f. Monitors loans to ensure members have adequate insurance coverage to protect collateral and the Credit Union's interests.

g. Acts on notification of impounded vehicles to protect the Credit Union’s interest.

i. Recommends accounts for repossession and foreclosure. Follows up with agent to ensure prompt recovery of collateral. Recommends and completes small claims court complaints and post judgment actions including garnishments, supplemental orders, and executions.

j. Refers accounts to Collector II for bankruptcy actions. Continues related collection efforts.

k. Recommends possible charge-offs. Researches and prepares the Write-off Summary Sheet.

l. Performs collections efforts in accordance with Credit Union policies and procedures and ensures they are legally compliant.

2.
Assumes responsibility for the efficient administration of collections activities.

a. Keeps accurate and up-to-date activity reports on late, potentially late, and delinquent loans.

b. Documents all collection actions taken, including telephone conversations, alternative financial arrangements, and correspondence on computer.

c. Researches loan accounts that appear on late and potentially late records to ensure that Credit Union errors are detected promptly. Provides members the opportunity to fully explain their loan status.

3.
Assumes responsibility for ensuring that professional business relations are established and maintained with Credit Union members and external contacts.

a. Maintains the Credit Union's professional reputation throughout collections operations and in all contacts with members.

c. Develops contacts with the NUCI and other financial institutions. Uses shared information to effectively minimize Credit Union losses.

4.
Assumes responsibility for establishing and maintaining effective communication and coordination with Credit Union personnel.

a. Assists area personnel as needed.

b.…