Collector I

Ready to take the next step in your career?

If you have at least one year of call center experience and a working knowledge of interacting with customers regarding loan products and services, this could be an excellent opportunity for you. Join a team where your customer service expertise can make an impact while helping clients navigate their financial needs and achieve their goals.

This Collector Position is responsible for the collection of delinquencies on consumer loans, student loans, and negative accounts. An important element of this position is successfully negotiating repayment with members to resolve their delinquency in a timely manner, including negotiating workout loans and using other loss mitigation efforts. A Collector I routinely counsels members and coaches them to better handle their finances, helping them with budgeting and other ways to make sure they can meet their obligations. Much of the knowledge a Collector I needs for this position comes from their experience with WPCU, other financial institutions, or from their own life experiences.

1. Initiate outbound contact and negotiate repayment with members who have delinquent shares/loans through various communication channels to make repayment arrangements on the negative or delinquent obligation. Ensure proper policies, procedures, risk mitigation activities, and operating controls are followed. Report gaps in policies, procedures, and operating controls to leadership to ensure member impact and risk is mitigated. (30%)
2. Work closely with other departments throughout the credit union, such as Member Centers, and the Member Help Center to resolve member issues in the most member service-oriented manner possible. Also work with departments such as Compliance, Risk Management, and Internal Audit to make sure all collection laws, fair lending laws, and other regulations are followed at all times. (20%) 3) Responsible for negotiating repayment with members who have delinquent shares/loans through various communication channels, primarily SMS and Email, establishing repayment arrangements on negative or delinquent obligations. (10%) 4) Responsible for handling inbound calls from members and partners who are dealing with a collection related issue. (10%)
3. Responsible for determining if additional collection efforts are required to cure the account, such as repossession recommendation, determine if the account is eligible for off-set, foreclosure, charge-off, etc., or if other remedies might be in the best interest of the member, including a workout loan, a loan extension, a due date change or some other loss mitigation effort. (10%)
4. Provides financial counseling to members needing advice on how to handle their finances and regularly coaches them to take the necessary steps to get their financial lives in order, including setting up budgets, prioritizing obligations, and making financial sacrifices when appropriate. (15%)
5. Utilizes various skip-tracing tools to obtain actionable contact information on members with delinquent accounts. (5%)

Required Skills

The Collector I will understand the applicable laws and regulations pertaining to collections and bankruptcy.

1. Must have a High School Diploma or equivalent or ten (10) years equivalent work experience.
2. Some post-secondary education is preferred.
3. Must have some knowledge of consumer lending, preferably as a Financial Coach or loan officer.
4. Must be able to learn and apply a variety of software applications.
5. Prior experience in a retail service environment to include member service preferred.
6. A well-rounded knowledge of the Credit Union’s collection philosophy and how that applies to treatment of members.
7. Strong ability to research using multiple databases and resources.

Required Experience