Senior Collector

New England Federal Credit Union is looking for a Senior Collector to join the team! This role helps to maintain a financially sound portfolio through early intervention and advanced collections practices including phone calls, collection letters and in person interviews. Performs collection and recovery of funds and property from credit union members for all accounts greater than 16 days past due including advanced handling for legal action, foreclosure, deceased member estates, bankruptcy, loan modifications, repossessions, etc. Must be proficient in the collections functions and will be able to perform all basic and advanced collection processes and practices including title issues, secondary / sold loans, HAMP, CPI and LPS claim filing and other associated processes. Works closely with management on complicated accounts. Works as a mentor to team and provides training for new staff.

Schedule:

This position is a standards Monday - Friday 8:00am - 5:00pm and can be worked out of South Burlington, VT or Berlin, VT. Travel to both locations is required for training period. Hybrid schedule is available after training is complete.

Specific duties include:

• Responsible for collections and recovery of delinquent accounts greater than 16 days past due, including advanced collections. Works from and manages a work queue and performs various tasks to collect funds and property from members who are past due. Includes placing and receiving calls, sending follow up letters, and advanced communications during various stage of delinquency. Works with the member to determine the reason for delinquency and how to best assist and helps counseling members concerning their financial obligations and offering suggestions and alternatives. Determines if a loan modification may be appropriate and explores options with the member and sends appropriate agreement for modification. Works with the member and legal firms on foreclosure alternatives, and assists with stipulation agreements, deed in lieu or short sales and obtains necessary documents.
• Responsible for all processes associated with and manages past due, repossessed, vacant, foreclosed, estate and OREO properties. Performs and schedules property inspections and prepares repossessed/foreclosed property for resale. Works with vendors to transfer utilities and coordinate property maintenance and repair as needed. Assists with maintaining and managing foreclosed and marketed properties, including winter shoveling, cleaning tasks and working with auctioneer or realtor. Responsible for attending auction sales and bids on behalf of the Credit Union or FNMA/Secondary Markets. Coordinates and assists with filing of LPS, PMI and hazard claims, tracking expenses and performing GL review. Works with Loss Prevention/Fraud Department on any fraud related issues. Attends court mediation meetings, modification sessions, estate hearings, small claims/court hearings, and assists with legal action as needed. Prepares the required documentation for third party and court action and assists with small claim judgment requests, wage garnishment, payment plans, placements with collection agencies and attorneys and collection account tracking.
• Maintains and files copies of all communications and updates system notes. Adds systems warnings and lockouts for past due and charged off accounts. Performs research for returned mail/bad addresses. Works closely with members, Loan Servicing, Product Operations and DMV to assist with follow up on registration of vehicles and title and lien holder requirements.
• Responsible for Deposit Recovery/Negative Share account handling and performs negative account tasks, follow ups, adds/removes accounts from ODP, posts payments to negative shares, and processes deposit recovery charge offs. Updates FIS / Penley with charge off recovery payments and balances due. Reviews accounts for funds availability and alerts Collections Assistant/Clerk to processes small balance transfers in accordance with security agreement in an effort to keep loans current. Communicates with credit bureaus and other parties to provide information about delinquent accounts and confirmation of payments received when applicable.
• Participates on special projects. Performs system testing for enhancements and upgrades. Troubleshoots system issues and errors. Handles year end 1099 review, processing and reporting. Actively works to identify process improvement and looks for areas where efficiencies can be created. Assists with vendor due diligence, compliance review and updating procedures. Performs other duties as assigned.
• Assists with new hire training and on-going training needs to expand collections staff skillsets. Looks to advance the collectors knowledge base. Acts as mentor and subject matter expert on collection matters. Acts as a second-tier advisory for loan modification requests and Fannie Mae/Freddie Mac related handling.
• Ability to handle and provide back up for all non-transactional and maintenance functions for the Collection Assistant (Clerk) functions including assistance with opening and processing incoming mail; managing the Team email box and incoming faxes; researching non-sufficient funds and check rejects; Assists other departments with transactional approval requests and verification and discusses pending loan request with consumer lending for members who are in default on a CU loan or have history of default.

Skills and Qualifications:

• Three to five years of similar or related experience including preparatory experience is preferred.
• Strong customer service skills.

Preferred but required:

• A preferred understanding of collections operations and procedures and good knowledge of repossessions, foreclosures, modifications, estates, and bankruptcy processes
• Experience working in a credit union or collections environment or a comparable combination of education and experience
• Familiarity with credit union operations, products, and services.

E.O.E.