Collections Representative I

Collections Representative I

The Collections Representative I position focuses on collecting past due consumer loans, Visa, and negative shares. The Collector works on trying to make suitable arrangements with the member if possible. The Collector will determine whether the accounts are profitable and collectible. They are also responsible for consulting with the Lending & Collections Supervisor based on the member's current status.

An energetic, self-motivated, enthusiastic, "team player" to represent our credit union with members, prospective members, other staff and the communities in which DFCU conducts business; while exercising sound business judgment, maintain a professional appearance and displaying a positive attitude.

Primary Responsibilities:

• Collects on delinquent accounts from 10 days to 180 days past due in a timely and effective manner, within established guidelines.
• Negotiates suitable payment arrangements with members.
• Documents all communications and transactions of a material manner with members.
• Recommends repossessions of vehicles to the Lending/Collections Supervisor based on the member's status.
• Appears at and prepares files for small claims court. If judgement is obtained, begins the process of wage garnishment and levies on liquid assets.
• Reviews and collects on all negative share and checking accounts in a timely manner.
• Monitors and updates accounts after receiving bankruptcy notices.
• Files proofs of claim online.
• Collects on charged-off loans and prepares files for legal action.
• Demonstrates excellent verbal and written communications skills.
• Skip trace accounts for possible leads to locate and contact members.
• Communicates with members and staff in a professional and articulate manner in both verbal and written forms.
• Responsible for compliance to the Bank Secrecy Act, which includes the Customer/Member Identification requirements for new members, Anti-Money Laundering requirements, and the requirements of the Office of Foreign Assets Control (OFAC). Compliance to the regulation involves the gathering of information needed to ensure the timely and accurate filing of Currency Transaction Reports, reporting of suspicious activity involving members, non-members and credit union staff, and other suspected money laundering activities.
• Maintains a comprehensive understanding of the features and benefits of all credit union products and services in order to offer the most appropriate products to members. Keeps abreast of marketing promotions and educates members on new credit union benefits and offerings.
• Maintains up-to-date knowledge of the policies, procedures, rules and regulations that govern credit union operations.
• Ensures compliance with all credit union member service standards. Performs all member related functions and activities in accordance with superior member service.
• Minimize potential losses on delinquent loans by contacting the borrowers and insurers to work toward resolution of the delinquency in accordance with departmental and legal guidelines.
• Analyze the member's situation and collateral risk to present alternative solutions including forbearance plans, repayment plans, modifications, assumptions, pre-foreclosure/short sales, and deed in lieu; assist in identifying, negotiating, and pursuing the appropriate loss mitigation option in the best interest of members without exposing the credit union to undue financial risk.
• Responsible for ensuring confidentiality and security of credit union and member information and documents.
• Employs analytical reasoning to identify opportunities and threats to both members and credit union.
• Willingly accepts the direction given by management in order to meet the goals established by the Board of Directors.
• Services the membership and maintains a positive attitude within the office at all times.
• Performs all other related duties as requested by management.

Requirements:

Employment Requirements

• Ability to be bonded.
• Understand basic accounting principles.
• Ability to use office machines as required for their position and understands EDP concepts.
• Favorable written and communication skills.

Minimum Job Requirements

• High school graduate; secondary education preferred.
• Two (2) years of collection experience and or credit union experience
• Basic personal computer knowledge (Word, Excel)
• Spanish fluency preferred.
• One year of experience in loan collections at a financial institution