Compliance & Collections Support Specialist

Job Description

Job Description

Compliance & Collections Support Specialist

This position will take ownership of day to day insurance administration and verification, credit reporting, dispute resolution, compliance support, and assisting with consistent application of CMM Finance's policies and procedures. This position provides operational support and decision-making guidance to the collections team, assists with review of complex or unusual accounts, and helps ensure that collection activities are handled consistently and in accordance with Alabama Law and established company policies. 

The position serves as a resource for insurance-related matters, credit reporting accuracy under FCRA guidelines, regulatory and procedural requirements, and collection decision support. The Specialist works closely with the Finance Manager, Head Collector, and other team members to protect the Company's interests, minimize risk, and improve overall portfolio performance.

Essential Duties and Responsibilities

1. Insurance Administration

• Manage ongoing insurance verification for the Company's loan portfolio.

• Conduct daily insurance reviews using available carrier websites, verification systems, and direct communication with insurance companies or agents.

• Identify and follow up on policy cancellations, lapses, rescissions, non-renewals, and other coverage concerns.

• Prepare and send insurance lapse notices and maintain appropriate follow-up until acceptable coverage is verified or the account is escalated.

• Review insurance documentation for accuracy, required coverage, and proper lienholder or loss payee information.

• Coordinate with customers to resolve coverage issues.

• Escalate significant or unresolved insurance risks to the Finance Manager, including accounts requiring consideration for Asset Recovery. 

2. Credit Reporting and Dispute Administration

• Manage routine credit reporting responsibilities, including preparation, review and submission of credit reporting files to Equifax through the Company's established reporting system.

• Monitor credit reporting accuracy and investigate discrepancies or reporting exceptions.

• Process and respond to consumer credit reporting disputes through E-Oscar, including Automated Consumer Dispute Verifications (ACDVs).

• Monitor dispute deadlines, outstanding responses, notifications and unresolved reporting issues.

• Research account histories and supporting documentation to ensure accurate, complete, and supportable dispute responses.

• Maintain appropriate records of disputes, investigations, responses, and corrections.

• Escalate complex disputes, potential reporting errors, and compliance concerns to the Finance Manager.

• Stay up to day with FCRA and Reg V Policies. 

3. Compliance and Procedure Consistency

• Assist with implementing and maintaining company policies, procedures and internal controls related to insurance, credit reporting, collections support, and account administration.

• Help ensure that established procedures are followed consistently across the department. 

• Identify recurring errors, procedural gaps, and operational risks and recommend corrective action.

• Assist with maintaining documentation necessary to support compliance reviews, audits, and regulatory inquiries. 

• Maintain confidentiality and handle customer information in accordance with company policies and applicable requirement.

4. Collection Decision Support

• Serve as a resource to the Head Collector and collectors regarding established collection policies, procedures, and account handling exceptions.

• Assist with evaluating difficult or unusual accounts, including repeated broken promises, recurring delinquency, hardship requests, payment arrangements, and accounts requiring escalation.

• Help assess account history, customer payment behavior, documented circumstances, and available information when determining appropriate next steps under established policy.

• Provide guidance on consistent application of collection timelines, follow-up requirements, and escalation procedures.

• Assist collectors in identifying when continued payment arrangements or extensions may no longer be practical under established policy.

5. Operational Support and Process Improvement

• Maintain tracking reports and records related to assigned responsibilities.

• Identify opportunities to improve workflow, reduce unresolved issues, and strengthen departmental controls.

• Assist with training employees on applicable insurance, credit reporting, compliance, and collection procedures as they evolve. 

Qualifications 

• Strong organizational, analytical, and problem-solving skills.

• Excellent written and verbal communication skills.

• Ability to research account information, evaluate circumstances, and apply established policies consistently.

• Strong attention to detail and commitment to accurate documentation.

• Ability to manage multiple priorities, follow deadlines, and maintain organized records.

• Ability to handle confidential customer and financial information appropriately.

• Proficiency with Microsoft Office applications and the ability to learn company specific systems and reporting platforms.

• Experience in auto finance, insurance administration, credit reporting, collection operations, or regulatory compliance preferred. 

Authority and Reporting Relationships

The Compliance & Collections Support Specialist reports directly to the Finance Manager and works collaboratively with the Head Collector and other departmental employees. 

This position provides guidance, account review, and procedural support but does not independently establish company policy, approve exceptions outside delegated authority, or exercise direct supervisory authority over the collections team unless specifically authorized by the Finance Manager.

Final authority over policy exceptions, significant collection decisions, and escalated risk matters remains with the Finance Manager.