Loan Servicing and Collections Specialist

EMPLOYEE BENEFITS

Labor Credit Union offers exciting challenges, competitive pay and great benefits. From developing creative solutions to working with our members, you’ll find success at Labor CU. Our high quality, comprehensive compensation package includes

PAID TIME OFF

Vacation, sick & bereavement leave. 13 Federal holidays & 8 floating holiday hours.

HEALTH COVERAGE

Labor CU offers coverage levels for medical, dental, and vision plans, as well as a health savings account and Life AD&D (Disability Insurance) Our competitive 401(k) retirement plan includes a generous company match. More Employee Benefits

EXPANDED BENEFIT PROGRAM

This benefit is focused on the individual and aligns with our efforts to help employees achieve financial, mental and physical well-being status.

COMMUTER BENEFITS PACKAGE

We recognize that employees can be more efficient, productive and happy if they do not have to worry about commuting logistics and expenses.

EMPLOYEE ASSISTANCE PROGRAM (WORK/LIFE BALANCE)

Confidential solutions and assistance are available to employees and their families.

CREDIT UNION MEMBERSHIP

Access to Labor CU membership, including low-interest rates on loans.

EDUCATION AND TUITION REIMBURSEMENT PROGRAM

Labor CU encourages all employees to further their education and take advantage of additional training. OnDemand Pay A benefit designed to provide financial flexibility and peace of mind. Access a portion of earned wages before scheduled payday. Complete information on compensation and benefits package will be shared by HR upon joining the Labor Credit Union. Open Positions Position: Loan Servicing and Collections Specialist Location: Washington, DC Remote Status: Hybrid Job Id: LSCS001 # of Openings: 1 Position Summary The Loan Servicing and Collections Specialist is a cross‑functional role responsible for supporting loan servicing, quality control, and early‑stage consumer collections activities. This position ensures the accuracy and integrity of loan records, supports post‑closing and loan maintenance functions, assists with quality control reviews, and performs routine collection activities in accordance with credit union policy and applicable regulatory requirements. This role provides operational flexibility by supporting both loan servicing and collections workflows, helping to ensure continuity, documentation accuracy, and consistent member experience. Loan Servicing Support Perform loan servicing activities including loan maintenance, post-closing reviews and system accuracy checks. Assists with title tracking, collateral documentation, and resolution of post‑funding exceptions. Review loan files and system records for completeness and accuracy in accordance with established procedures. Research and respond to loan service requests related to consumer loan accounts. Ensure loan documents and records are properly indexed, imaged, and maintained within core systems. Quality Control Support Assist with quality control reviews of loan files to ensure compliance with internal policies and regulatory requirements. Identify documentation errors, missing information, or data discrepancies and elevate findings appropriately. Support correction actions and follow‑up related to quality control findings. Maintain quality control logs, tracking tools, and audit documentation and assigned. Consumer Collections (Collector I Functions) Perform early‑stage and routine collection activities on consumer loan accounts in accordance with policy and applicable laws. Contacts members regarding past‑due accounts to discuss payment arrangements and resolution options. Document all collection activity accurately and timely within designated systems. Maintain a professional, respectful, and member‑focused approach during collection interactions. Escalate complex or higher‑risk accounts to senior collections staff as appropriate. Workflow Support & Cross‑Functional Collaboration Prioritizes work assignments across loan servicing, quality control, and collections based on departmental needs. Coordinate with underwriting, loan processing, servicing, and collections team members to resolve issues and ensure smooth handoffs. Provide backup support across loan servicing and collections functions as needed. Assist management with operational reporting or reconciliation tasks as assigned. Compliance & Risk Management Perform all duties in compliance with applicable laws, regulations, and credit union policies. Comply with Bank Secrecy Act (BSA), Anti‑Money Laundering (AML), and OFAC requirements applicable to the role. Maintain confidentiality and accuracy when handling sensitive member and loan information. Position Requirements High School Diploma or equivalent required; college coursework preferred. Minimum of 2 years of experience in loan servicing, lending operations, member service, or consumer collections in a financial institution. Basic understanding of consumer loan products and servicing processes. Strong attention to detail and documentation accuracy. Ability to manage multiple priorities in a structured, deadline‑driven environment. Proficiency in Microsoft Excel, Word, and Teams. Ability to communicate professionally and effectively with members and internal staff. Interpersonal Skills Strong member service and communication skills. Ability to work collaboratively across departments. Sound judgment, discretion, and accountability when handling sensitive information. Adaptability and willingness to support multiple functional areas. This position is a hybrid position. Travel to onsite premises will be required. This job description reflects core responsibilities and expectations of the Loan Servicing and Collections Specialist role. The employee may be required to perform other job‑related duties as assigned, and the role may be adjusted as operational needs evolve. #J-18808-Ljbffr Department of Labor Federal Credit Union