Account Resolution Specialist-Collections for Repossessions, Legal, andBankruptc
OnPath Federal Credit Union, New Orleans, Louisiana, United States, 70123
About OnPath Credit Union
At OnPath Credit Union, we share a passion for delivering exceptional service. Your primary role will involve building relationships with our members, offering personalized solutions and identifying opportunities to help them achieve financial success. If you thrive in an environment with team members who truly enjoy what they do and you are sales driven and motivated to succeed, then OnPath is the place for you! Voted eleven years in a row as one of the Top 40 Places to Work by the Times Picayune, we offer:
Competitive Compensation
Impressive Benefits Package including Medical, Dental, Life Insurance, and 401(K) Plan
Paid Vacation, Wellness, Sick Time, and more!
Account Resolution Specialist We are looking for an Account Resolution Specialist to join our team! The salary range for this position is $22.80 to $28.50 per hour based on skills and experience. This position is classified as On-site.
Scope As a dedicated member of the OnPath FCU team, this role performs a variety of tasks that in partnership with the surrounding departments, provides cost-effective financial services for the benefit of our members who are our primary focus. Our core values are what make us E.P.I.I.C.
Empathetic to the vast situations and needs of our members and to each other.
Passionate about the financial growth and success of our members.
Innovative in our ideas and goals to remain at the top of our class in financial services.
Integrity is not an option.
Committed to our promise to be the best financial advocates for our members and the communities we serve.
Primary Functions This position is responsible for minimizing risk and maximizing recovery of delinquent and potentially delinquent accounts for the credit union while establishing WIN-WIN solutions, building relationships, and providing excellent member service. The Account Resolution Specialist will assist employees in the Account Resolutions Department and all appropriate internal credit union partners. Conducts daily business interactions and maintains constant alignment with OnPath's mission, culture, and core values. Encourages others to act with mission, culture, and core values in mind always, demonstrates initiative and sound judgment in the absence of specific direction from management, ensures value through decision-making that supports credit union goals and interests, and passionately displays a desire to build rapport and expand relationships with all members both internally and externally.
Major Duties and Responsibilities
Negotiate and coordinate payment arrangements with member(s); initiate loan modifications and work-out agreements including preparation of appropriate supporting documentation and recommendations for review and approval.
Document all actions taken, including telephone conversations, payment arrangements and correspondence, in collection package, to ensure all information is accurate and the integrity of the database is maintained.
Initiate and follow up on claim filings, including but not limited to damage claims and GAP claims on total losses as well as refunds on service/warranty/GAP contracts, in a timely manner to maximize recovery.
Review accounts for completion of due diligence and make recommendations for charge off in accordance with credit union policy.
Closely monitor deceased accounts and file estate claims timely & accurately to ensure highest level of recovery.
Maintain knowledge of status of all accounts in queue(s). Analyze data and trends to keep leadership apprised of concerns.
Ensure timely repossession, transportation, claim processing and liquidation of repossessed collateral based on authorized timeframes and in accordance with established standards.
Complete posting of fees and recoveries to all bankrupt, legal, and charged off accounts.
Receive and review all bankruptcy documents to determine required action. Prepare and complete the timely filing of Proofs of Claim Reaffirmation Agreements, Motions for Relief and any necessary plan objections to ensure appropriate collection activity is taken and recovery is maximized. Complete account maintenance.
Monitor, communicate, and manage all attorney activity.
Prepare files for litigation. Prepare the documents and refer to leadership, as necessary. This will include all attorney accounts, charge off loans and repossession of collateral.
Maintain a list of acceptable agencies and assign each account accordingly. Maintain current information as required on agencies such as bonding, licensing, insurance, etc.
Coordinate with and direct Recovery Agents, contracted with the credit union, to legally repossess collateral used to secure loans and ensure timely updates are received.
Review accounts on hold for bankruptcy to ensure appropriate and timely action, if secured by personal property.
Review completed repossession documents, send Notice of Sale letter and all correspondence to sale facility. Maintain list of repossessed vehicles in collection platform by updating repossession status timely.
Utilize various internet skip tracing tools to locate members when contact cannot be made and/or their location is unknown.
Verify and validate proper credit reporting codes are applied in conjunction with bankruptcy, legal, repossession, and charge off statuses.
Ensure the security and confidentiality of private member information. Refer to Code of Ethics policy for current guidelines.
Identify and recommend improvement of procedures and processes involving job functions to leadership.
May be required to attend classes and/or seminars to expand knowledge and expertise.
Overcome objections and demonstrate creative thinking to come up with solutions.
Use logic and reasoning to identify the strengths and weaknesses of alternative solutions, conclusions, and approaches to problems with successful outcomes.
Work diligently to meet or exceed collection goals established by management.
Advise leadership of cases requiring special attention.
Maintain a strong and current understanding of laws, regulations, credit union policies and procedures regarding collection activities.
Work as a team within the department to meet the overall credit union goals for delinquency and charge off ratios.
Be responsible for completing other duties as assigned.
Experience
Two to Five years of similar or related experience, including time spent in preparatory positions.
Education / Certifications / Licenses
A high school degree or GED required.
Interpersonal Skills A significant level of trust, credibility and diplomacy is required. In-depth dialogue, conversations and explanations with customers, direct and indirect reports and outside vendors can be of a sensitive and/or highly confidential nature. Communications may involve motivating, influencing, educating and/or advising others on matters of significance. Typically includes subject matter experts as well as first level to middle managers.
Other Skills
Knowledge of, or the ability to learn, federal, state, and local laws, statutes, regulations, codes, and standards related to the area of responsibility is necessary.
Proficiency with database software and the MS Office suite is also required.
Physical Requirements Is able to bend, sit, and stand in order to perform primarily sedentary work with limited physical exertion and occasional lifting of up to 10 lbs. Must be capable of climbing / descending stairs in an emergency situation. Must be able to operate routine office equipment including computer terminals and keyboards, telephones, copiers, facsimiles, and calculators. Must be able to routinely perform work on computer for an average of 6-8 hours per day, when necessary. Must be able to work extended hours or travel off site whenever required or requested by management. Must be capable of regular, reliable and timely attendance.
Working Conditions Must be able to routinely perform work indoors in climate-controlled shared work area with minimal noise.
Mental Requirements Must be able to perform job functions independently or with limited supervision and work effectively either on own or as part of a team. Must be able to read and carry out various written instructions and follow oral instructions. Must be able to complete basic mathematical calculations, spell accurately, and understand computer basics. Must be able to speak clearly and deliver information in a logical and understandable sequence. Must be capable of dealing calmly and professionally with numerous different personalities from diverse cultures at various levels within and outside of the organization and demonstrate highest levels of customer service and discretion when dealing with the public. Must be able to perform responsibilities with composure under the stress of deadlines / requirements for extreme accuracy and quality and/or fast pace. Must be able to effectively handle multiple, simultaneous, and changing priorities. Must be capable of exercising highest level of discretion on both internal and external confidential matters.
Disclaimers Nothing in this position description is an implied contract for employment. The position description is intended to be an accurate account of the essential functions. The functions are not all encompassing and are subject to change at any time by management. The work environment characteristics described are representative of those that an employee encounters while performing the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions. OnPath FCU is an EOE/M/F/Disability/Veteran.
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Competitive Compensation
Impressive Benefits Package including Medical, Dental, Life Insurance, and 401(K) Plan
Paid Vacation, Wellness, Sick Time, and more!
Account Resolution Specialist We are looking for an Account Resolution Specialist to join our team! The salary range for this position is $22.80 to $28.50 per hour based on skills and experience. This position is classified as On-site.
Scope As a dedicated member of the OnPath FCU team, this role performs a variety of tasks that in partnership with the surrounding departments, provides cost-effective financial services for the benefit of our members who are our primary focus. Our core values are what make us E.P.I.I.C.
Empathetic to the vast situations and needs of our members and to each other.
Passionate about the financial growth and success of our members.
Innovative in our ideas and goals to remain at the top of our class in financial services.
Integrity is not an option.
Committed to our promise to be the best financial advocates for our members and the communities we serve.
Primary Functions This position is responsible for minimizing risk and maximizing recovery of delinquent and potentially delinquent accounts for the credit union while establishing WIN-WIN solutions, building relationships, and providing excellent member service. The Account Resolution Specialist will assist employees in the Account Resolutions Department and all appropriate internal credit union partners. Conducts daily business interactions and maintains constant alignment with OnPath's mission, culture, and core values. Encourages others to act with mission, culture, and core values in mind always, demonstrates initiative and sound judgment in the absence of specific direction from management, ensures value through decision-making that supports credit union goals and interests, and passionately displays a desire to build rapport and expand relationships with all members both internally and externally.
Major Duties and Responsibilities
Negotiate and coordinate payment arrangements with member(s); initiate loan modifications and work-out agreements including preparation of appropriate supporting documentation and recommendations for review and approval.
Document all actions taken, including telephone conversations, payment arrangements and correspondence, in collection package, to ensure all information is accurate and the integrity of the database is maintained.
Initiate and follow up on claim filings, including but not limited to damage claims and GAP claims on total losses as well as refunds on service/warranty/GAP contracts, in a timely manner to maximize recovery.
Review accounts for completion of due diligence and make recommendations for charge off in accordance with credit union policy.
Closely monitor deceased accounts and file estate claims timely & accurately to ensure highest level of recovery.
Maintain knowledge of status of all accounts in queue(s). Analyze data and trends to keep leadership apprised of concerns.
Ensure timely repossession, transportation, claim processing and liquidation of repossessed collateral based on authorized timeframes and in accordance with established standards.
Complete posting of fees and recoveries to all bankrupt, legal, and charged off accounts.
Receive and review all bankruptcy documents to determine required action. Prepare and complete the timely filing of Proofs of Claim Reaffirmation Agreements, Motions for Relief and any necessary plan objections to ensure appropriate collection activity is taken and recovery is maximized. Complete account maintenance.
Monitor, communicate, and manage all attorney activity.
Prepare files for litigation. Prepare the documents and refer to leadership, as necessary. This will include all attorney accounts, charge off loans and repossession of collateral.
Maintain a list of acceptable agencies and assign each account accordingly. Maintain current information as required on agencies such as bonding, licensing, insurance, etc.
Coordinate with and direct Recovery Agents, contracted with the credit union, to legally repossess collateral used to secure loans and ensure timely updates are received.
Review accounts on hold for bankruptcy to ensure appropriate and timely action, if secured by personal property.
Review completed repossession documents, send Notice of Sale letter and all correspondence to sale facility. Maintain list of repossessed vehicles in collection platform by updating repossession status timely.
Utilize various internet skip tracing tools to locate members when contact cannot be made and/or their location is unknown.
Verify and validate proper credit reporting codes are applied in conjunction with bankruptcy, legal, repossession, and charge off statuses.
Ensure the security and confidentiality of private member information. Refer to Code of Ethics policy for current guidelines.
Identify and recommend improvement of procedures and processes involving job functions to leadership.
May be required to attend classes and/or seminars to expand knowledge and expertise.
Overcome objections and demonstrate creative thinking to come up with solutions.
Use logic and reasoning to identify the strengths and weaknesses of alternative solutions, conclusions, and approaches to problems with successful outcomes.
Work diligently to meet or exceed collection goals established by management.
Advise leadership of cases requiring special attention.
Maintain a strong and current understanding of laws, regulations, credit union policies and procedures regarding collection activities.
Work as a team within the department to meet the overall credit union goals for delinquency and charge off ratios.
Be responsible for completing other duties as assigned.
Experience
Two to Five years of similar or related experience, including time spent in preparatory positions.
Education / Certifications / Licenses
A high school degree or GED required.
Interpersonal Skills A significant level of trust, credibility and diplomacy is required. In-depth dialogue, conversations and explanations with customers, direct and indirect reports and outside vendors can be of a sensitive and/or highly confidential nature. Communications may involve motivating, influencing, educating and/or advising others on matters of significance. Typically includes subject matter experts as well as first level to middle managers.
Other Skills
Knowledge of, or the ability to learn, federal, state, and local laws, statutes, regulations, codes, and standards related to the area of responsibility is necessary.
Proficiency with database software and the MS Office suite is also required.
Physical Requirements Is able to bend, sit, and stand in order to perform primarily sedentary work with limited physical exertion and occasional lifting of up to 10 lbs. Must be capable of climbing / descending stairs in an emergency situation. Must be able to operate routine office equipment including computer terminals and keyboards, telephones, copiers, facsimiles, and calculators. Must be able to routinely perform work on computer for an average of 6-8 hours per day, when necessary. Must be able to work extended hours or travel off site whenever required or requested by management. Must be capable of regular, reliable and timely attendance.
Working Conditions Must be able to routinely perform work indoors in climate-controlled shared work area with minimal noise.
Mental Requirements Must be able to perform job functions independently or with limited supervision and work effectively either on own or as part of a team. Must be able to read and carry out various written instructions and follow oral instructions. Must be able to complete basic mathematical calculations, spell accurately, and understand computer basics. Must be able to speak clearly and deliver information in a logical and understandable sequence. Must be capable of dealing calmly and professionally with numerous different personalities from diverse cultures at various levels within and outside of the organization and demonstrate highest levels of customer service and discretion when dealing with the public. Must be able to perform responsibilities with composure under the stress of deadlines / requirements for extreme accuracy and quality and/or fast pace. Must be able to effectively handle multiple, simultaneous, and changing priorities. Must be capable of exercising highest level of discretion on both internal and external confidential matters.
Disclaimers Nothing in this position description is an implied contract for employment. The position description is intended to be an accurate account of the essential functions. The functions are not all encompassing and are subject to change at any time by management. The work environment characteristics described are representative of those that an employee encounters while performing the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions. OnPath FCU is an EOE/M/F/Disability/Veteran.
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