Collections Officer

Collections Officer

Perform outbound and inbound calls to members whom have defaulted on an obligation. Requires little supervision after training and works under the general supervision of the Collections Manager and Team Lead. The employee is to work with members to help each member cure the default and to offer exceptional member service with each contact made. The objective is to reduce delinquency and charge off loans, leases and credit cards.

Major Duties and Essential Functions

• Checks all accounts to be worked for any transaction since the previous contact date. Collector will decide collection activity required considering member's cooperation in establishing payment arrangements. Adheres to departmental and regulation standards.
• Contacts members, primarily by telephone, whose accounts require payment or payment arrangements for continuance of loan on an installment basis. May also contact member by memo, letter, or email if telephone contact is not possible.
• Accepts incoming telephone calls that request information concerning account condition and will make suggestions or propose alternatives of payment to member. Has latitude in proposing and suggesting plans of action to bring account current.
• Receives requests from members whose accounts are assigned to the Collections Department for additional loans or workout loans. Such instances require approval of Collection Management.
• Submits due date changes or payment waivers, according to policy, as a service to members and records those changes.
• Initiates file maintenance changes at the request of member or as information is gathered through processing of account.
• Consults with Collection Management as needed, to seek suggestions or technical advice in collection of a delinquent account. Makes recommendation as to economic futility or further collection effort in some instances. Makes recommendation as to which action should be initiated if loan collateral is jeopardized or if collection conditions necessitate, such as legal action or repossession, etc.
• Maintains detailed written record of all conversations with member or other pertinent information to support decisions and status of loan account.
• Works with the Collection Management to ensure accounts are handled appropriately and every payment option is exhausted before recommending repossession or charge off.
• Performs skip tracing to try and locate the member and / or the collateral that is secured by CUTX. Skip-tracing may involve contacting references and locating information from various resources.
• Understanding of how fees are applied to a share account, and procedural time frames of the delinquency regarding a demand deposit account.
• Workout payment arrangements prior to closing / charging off the share account to reduce share account losses.

Performs other related duties and special projects as requested.

Other duties necessary to achieve the goals of the credit union : As assigned

Positions directly supervised : N / A

Specific knowledge, skills, and abilities required for this position :

MUST have experience working in a call center, banking, or collections environment. Must show that you are able to negotiate payment arrangements and possess time management skills.

Education : High school diploma or general education degree (GED) and one to two years related experience and / or training.

Experience : Minimum 1-2 years or more of similar or related experience.

Physical Activities and Requirements of this Position

CATEGORY

DESCRIPTION

Finger Dexterity

Using primarily just the fingers to make small movements such as typing, picking up small objects, or pinching fingers together.

Grasping

Using fingers and palm on an object.

Talking

Especially where one must frequently convey detailed or important instructions or ideas accurately, loudly, or quickly.

Repetitive Motions

Movements frequently and regularly required using the wrists, hands, and / or fingers.

Average Hearing

Able to hear average or normal conversations and receive ordinary information.

Average Visual Abilities

Average, ordinary, visual acuity necessary to prepare or inspect documents or products, or operate machinery.

Sedentary Work

Sitting part of the time. Exerts up to 10 lbs. of force occasionally.

Working Conditions of this Position

DESCRIPTION

Few. No hazardous or significantly unpleasant conditions except during construction wearing a hard hat is required.

Mental Activities and Requirements of this Position

Reasoning Ability : The ability to use common sense or logic.

CATEGORY

DESCRIPTION

Detailed

Ability to apply common sense understanding to carry out detailed instructions and to deal with problems involving many variables.

Mathematical Ability :

Basic

Ability to perform basic math skills including adding, subtracting, multiplying, and dividing two digit numbers; operations with units such as inch, foot, yard; ounce, pound (or their metric counterparts), and square footage; ability to understand appraisals, compute rent rates and lease expiration times.

Language Ability : The level of ability required to communicate and understand written and oral language.

Typical

Ability to use passive vocabulary of 5,000-6,000 words; read at a moderate rate; and define unfamiliar words in dictionaries for meaning, spelling, and pronunciation. Ability to write complex sentences, using proper punctuation, and using adjectives and adverbs. Ability to communicate in complex sentences, using normal word order with present and past tenses and good vocabulary. Ability to read, analyze and interpret general business periodicals, professional journals, correspondence, and procedure manuals. Ability to effectively present information and respond to questions from groups of managers, guests, vendors and the general public.

Compliance requirement

The responsibilities contained within this job description remains compliant with Bank Secrecy Act / Anti-Money Laundering, Office of Foreign Assets Control and USA PATRIOT Act as they apply to the duties of the position.

Disclaimer

The information in this job description has been designed to indicate the general nature and level of work performed by employees within this classification. It is not designed to contain or be interpreted as a comprehensive inventory of all duties, responsibilities and qualifications required of employees assigned to this job, which may vary on the department or the assignment. The actual essential duties, responsibilities and qualifications may vary by department, reporting structure and other business needs. No inference should be drawn that a specific job duty, responsibility or qualification is non-essential by its absence from this description.