Job Description
_ What's in it for you as a Collections Representative II_
- Training and ongoing coaching to learn highly desired skills for career development.
- A place where you can make an impact on members, teammates, and the community in meaningful ways.
- Full benefits package, 401k, 12 paid holidays, 16 hours paid volunteer time per year, tuition reimbursement, profit sharing, and weekends off.
- All the coffee your heart desires and halfway-decent potlucks.
_ Basics of a Collections Representative II_
- Schedule: Monday - Friday 8:30 am - 5:30 pm and alternating Saturdays 9:00 am to 1:00 pm
- Flexibility required - extended hours, based on company needs
- Hybrid Position - After the initial training period, a hybrid work model will become an option. You will be requested to work 3 days on-site and 2 days remote. Allowing for a blend of remote and onsite work based on performance and departmental needs.
_ Summary of what you'll do as a Collections Representative II_
In the Collections Representative II you will manage advanced delinquent accounts, focusing on loss mitigation and asset recovery. This role builds on foundational collections knowledge with specialized expertise in collateral and repossession processes.
Duties and Responsibilities:
Early-Stage Delinquency:
- Maintain consistent daily follow-up on delinquent loans, credit card, and share accounts.
- Place outbound and handle inbound calls to discuss delinquent accounts and negotiate repayment plans.
- Initiate skip tracing for members with outdated contact information.
- Research and resolve misapplied payments, ensuring correct allocation.
- Update member accounts and document collection activities in appropriate systems.
- Insurance claim processing.
Late-Stage Delinquency:
- Manage late-stage delinquent accounts, negotiating resolutions and implementing advanced recovery actions (e.g., skip tracing, repossessions, legal referrals).
- Collaborate with third-party vendors for repossessions and impounds, ensuring proper documentation and compliance.
- Reconcile vendor invoices and monitor repossession-related expenses.
- Handle escalated member inquiries related to asset recovery.
- Compile reports and summaries to support department operations.
- Support other delinquency queues as needed.
- Skip claim filing.
Compliance:
- Comply with credit union policies, Fair Debt Collection Practices, and other applicable rules and regulations related to Collections.
- Comply with the credit union Bank Secrecy Act (BSA) Policy and Anti Money Laundering and Member Due Diligence Procedures. The BSA training is to be completed within 90 days of employment and annually thereafter.
- Complete compliance and career development training as assigned.
- Perform other duties as needed to support the Collections team.