Midlands credit union has an immediate need for an experienced collector.
ESSENTIAL FUNCTIONS AND BASIC DUTIES
- Assumes responsibility for the effective and professional performance of collections functions.
- Receives delinquency reports from the computer system and verifies the status of the accounts.
- Follows up on delinquent accounts by telephone, and correspondence to secure a satisfactory resolution to the repayment problem.
- Discusses possible financial arrangements, informs members of potential legal actions, and suggests financial counseling to arrive at suitable payment arrangements. Continues to collect until the account becomes current, a write-off, bankruptcy, or attorney account. Makes early contact with members to collect and keep them informed of account status.
- Utilizes effective human relations skills and various forms of persuasion to present a positive company image in an already negative situation. Calms irate members and answers questions and complaints relevant to department functions. Determines reasons for delinquencies and works toward permanent solutions.
- Minimizes losses by early actions.
- Utilizes further appropriate collection methods if initial attempts do not secure required payment. Suggests consolidations and financial counseling.
- Recommends and completes small claims court complaints and postjudgment actions, including garnishments and supplemental orders. Recommends possible charge-offs.
- Performs collections efforts in accordance with company policies and procedures and ensures they are legally compliant.
- Assists in department and on special projects as needed.
- Complies with all federal, state, and organizational policies, procedures, and processes, including (but not limited to) the Bank Secrecy Act (BSA) and Office of Foreign Assets Control (OFAC).
- Assumes responsibility for the efficient administration of collections activities.
- Keeps accurate and up-to-date activity reports on late, potentially late, and delinquent accounts.
- Documents all collection actions taken, including telephone conversations, alternative financial arrangements, and correspondence on the collection system.
- Researches accounts that appear on late and potentially late records to ensure that company errors are detected promptly. Provides members the opportunity to fully explain their account status.
- Maintains the company’s professional reputation throughout collections operations and in all contacts with members.
- Maintains confidentiality.
- Develops contacts with credit bureaus and other financial institutions. Uses shared information to effectively minimize company losses
- Assumes responsibility for establishing and maintaining effective communication and coordination with Company personnel.
- Assists area personnel as needed.
- Keeps management informed of activities, progress toward established objectives, and of any significant problems.
- Attends and participates in meetings as required.
- Assumes responsibility for related duties as required or assigned.
- Stays informed of changes in collections policies, procedures, and related legal requirements
- Ensures work area is clean, secure, and well maintained.
- High school graduate or equivalent
- Knowledge of collection procedures and related laws and regulations.
- Understanding of Company policies. Familiar with default and enforcement clauses
- Basic understanding of the U.S. Bankruptcy Code.
- Previous collection experience
- Accuracy and thoroughness in work.
- Excellent communication, telephone, and public relations skills.
- Ability to work well independently.
- Ability to work well in stressful situations.
- Ability to operate related computer applications and other business equipment including
- calculator, copy machine, printer, telephone, fax
Please submit your résumé in Word or PDF format to [email protected].