Collector Representative

Primary Function:

Under the supervision and guidance of the Department Manager, the Collector is responsible for the control and collection of delinquent loan accounts. Contacts members to determine the reason for the past-due condition of loans and assists them in developing a plan to bring the loans up to date, optimizing collections on accounts while balancing the goodwill of members with the fiduciary responsibility of the Credit Union. Maintains accurate, up-to-date records throughout the entire collection process. Handles all member transactions with complete discretion and confidentiality.

1. Reviews and analyzes all past due accounts and delinquency reports through the processing system on an on-going basis for collection activity, including all newly-appearing accounts, as well as aged accounts.
2. Contacts members by phone and/or correspondence to determine the reasons for high balance, late and long-overdue accounts, and to assist in developing plans to bring accounts to a current status.
3. Contacts co-signers regarding status of delinquent accounts.
4. Responsible for the collection on deposit related losses, after initial collection attempts have been made by Operations and file has been reviewed and signed by the Manager or Supervisor. Includes outreach to members and development of a plan to recoup the losses.
5. Ensures courteous interface with members and co-signers throughout the process, attempting to optimize the collections process while balancing the goodwill of members with the fiduciary responsibility of the Credit Union.
6. Maintains a thorough and up-to-date knowledge of credit union products, internal collection policies and procedures, and external collection rules and regulations.
7. Prepares all correspondence for collections department.
8. Responds to telephone calls regarding payment notices and delinquent accounts or miscellaneous collection inquiries.
9. Analyzes mailing of payment notices, ensuring that credit union errors are detected promptly and corrected and that the member has a complete explanation of the loan's status.
10. Maintains accounts with loan chargeoffs.
11. Makes recommendations to Manager on when to compromise and settle balances and when to initiate repossession proceedings.
12. Maintains a detailed written record of all communications made regarding the delinquency.
13. Receives and processes mail payments directed to the department.
14. Serves as liaison with attorneys or agencies in handling repossession or foreclosure proceedings. Prepares information needed or required by attorney or collection agency; and prepares and documents receipts to be posted from attorney or collection agency.
15. Ensures that all paperwork, authorizations, default notices, surrender notices, bankruptcy proceedings, repossessions, foreclosure notices, etc. are monitored for accuracy and completeness and mailed and/or maintained according to credit union policies and procedures and external rules and regulations.
16. Performs skiptracing duties as required and directed.
17. Processes Credit Life and Disability claims, and acts as a liaison with CUNA.
18. Documents, logs and tracks all bankruptcy notices and ensures all file maintenance is complete on system.
19. Recommends accounts for charge off and ensures collection activity on all post charged off accounts.
20. Attends training sessions upon request.
21. Adheres to the anti-money laundering policy and the Bank Secrecy laws.
22. Assumes other duties as new products, services, or technology are introduced.

Note: The above is a description of the ordinary and essential duties of the position. Other duties both related and unrelated to the above may be assigned and therefore required.

Knowledge, Skills, and Experience Required:

1. Professional and pleasant interpersonal and communication skills are essential for servicing Credit Union members and projecting a positive image as representative for the Credit Union.
2. Requires a thorough knowledge of Credit Union products and procedures, credit approval criteria, internal collections policies and external collection rules and regulations, and required documentation for the entire collection process.
3. Associate Degree in Business Administration, Finance, or related field, or the equivalent combination of education and experience is required. Proficiency with computer software applications is required.
4. A minimum of three years of experience in a loan-service or collections department of a credit union or financial institution is required.
5. Position requires the: ability to read, analyze, and interpret financial and legal reports, procedures, and regulations; ability to respond professionally to varied inquiries or complaints from members; and ability to effectively communicate, negotiate, and present information to a wide range of audiences.
6. Intermediate math skills (adding, subtracting, multiply, dividing, percentages, interest) are required.