Collections Specialist
Empeople Credit Union, Moline, IL, United States
Overview
The Collections Specialist is responsible for carrying out credit union collection and recovery activities with members not current on consumer and real estate loans and credit cards. The Collections Specialist will work with members to devise payment plans to collect past due payments and repossess vehicle collateral and initiate foreclosure on severely delinquent loans in accordance with company policies and state and federal regulations.
Qualifications Knowledge Of
Credit Union policies and procedures.
IDFPR, NCUA and federal and state regulations regarding collection, repossession, bankruptcy, and recovery activity.
CFPB collection governance through Fair Debt Collection Practices Act (FDCPA)
Symitar Data Processing System
State specific legal process for recovery efforts
State specific bankruptcy laws and practices
Ability To
Operate a PC using the following software applications Excel, Word, and Outlook
Operate the Credit Union’s financial software to access member accounts to perform collection activities.
Work in a time sensitive environment, make sound decisions, and communicate these decisions to members and applicable internal staff and management.
Remain calm, patient, objective and professional when presented with difficult situations.
Essential Functions
Meet or exceed company performance standards for promises to pay, delinquent payments collected, loans paid current, month over month delinquency change, contacts made, and others as defined by management.
Ensure consistent contact with assigned queue of past due members, with the goal of putting a plan in place to get members current within 60-90 days. Document plans and promises to pay in collection cards.
Manage delinquent auto loans in queue to ensure notices of cure are sent by delinquent day 45 and repossessions are ordered by delinquent day 60 unless member has made satisfactory payment arrangements, is on a Securian claim, or has filed bankruptcy. Authorize skip tracing as needed to locate collateral.
Work with members after vehicles are repossessed to redeem collateral and/or provide Notice of Private Sale. If vehicle to be sold, work with approved auto auction to provide title and establish appropriate floor price. Work with auction to obtain sale proceeds and document in core system.
Work with company legal counsel to initiate foreclosure process on severely delinquent real estate loans. Complete estimated foreclosure worksheets and update and document status throughout foreclosure process. Secure property to the extent regulations allow during the foreclosure process. Arrange for inspection of property after the foreclosure and list the property with company approved Realtors. File necessary paperwork related to bankruptcy including Motion for Relief of Stay, proof of Claims, and Objections.
Perform other collection, risk, or credit union related duties as assigned by manager.
Submit monthly charge off recommendations to senior management according to policy.
Required Education And Experience Any equivalent combination of education and experience that provides the applicant with the knowledge, skills, and abilities required to perform the job is acceptable. A typical way to obtain the knowledge and abilities would be:
Education/Training
Bachelor’s degree (B.A.) or equivalent.
Experience
Minimum 2-5 years consumer and/or mortgage collection and collection experience.
Comprehensive functional experience with:
Vehicle repossession and liquidation
Post charge-off recovery remedies
Bankruptcy law and lender’s rights
License Or Certification
Bondable
Acceptable Credit History
Notary Public desired but not required.
Pay Range USD $56,814.00 - USD $85,170.00 /Yr.
Compensation & Benefits
Health, Dental & Vision Benefits
Bonus opportunity
401(k) with match and profit sharing
Flexible Time Off
Empeople Credit Union is an EEO/Affirmative Action Employer.
EMPLOYMENT AT WILL Empeople Credit Union employment is at will. Employees may resign from Empeople Credit Union as they choose. Similarly, Empeople Credit Union may terminate an employee at any time, with or without notice or cause. Nothing in this Handbook or any other manual or policy adopted by Empeople Credit Union in any way alters the at-will nature of employment at Empeople Credit Union. False statements or material omissions in the Application for Employment will be grounds for immediate termination.
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Qualifications Knowledge Of
Credit Union policies and procedures.
IDFPR, NCUA and federal and state regulations regarding collection, repossession, bankruptcy, and recovery activity.
CFPB collection governance through Fair Debt Collection Practices Act (FDCPA)
Symitar Data Processing System
State specific legal process for recovery efforts
State specific bankruptcy laws and practices
Ability To
Operate a PC using the following software applications Excel, Word, and Outlook
Operate the Credit Union’s financial software to access member accounts to perform collection activities.
Work in a time sensitive environment, make sound decisions, and communicate these decisions to members and applicable internal staff and management.
Remain calm, patient, objective and professional when presented with difficult situations.
Essential Functions
Meet or exceed company performance standards for promises to pay, delinquent payments collected, loans paid current, month over month delinquency change, contacts made, and others as defined by management.
Ensure consistent contact with assigned queue of past due members, with the goal of putting a plan in place to get members current within 60-90 days. Document plans and promises to pay in collection cards.
Manage delinquent auto loans in queue to ensure notices of cure are sent by delinquent day 45 and repossessions are ordered by delinquent day 60 unless member has made satisfactory payment arrangements, is on a Securian claim, or has filed bankruptcy. Authorize skip tracing as needed to locate collateral.
Work with members after vehicles are repossessed to redeem collateral and/or provide Notice of Private Sale. If vehicle to be sold, work with approved auto auction to provide title and establish appropriate floor price. Work with auction to obtain sale proceeds and document in core system.
Work with company legal counsel to initiate foreclosure process on severely delinquent real estate loans. Complete estimated foreclosure worksheets and update and document status throughout foreclosure process. Secure property to the extent regulations allow during the foreclosure process. Arrange for inspection of property after the foreclosure and list the property with company approved Realtors. File necessary paperwork related to bankruptcy including Motion for Relief of Stay, proof of Claims, and Objections.
Perform other collection, risk, or credit union related duties as assigned by manager.
Submit monthly charge off recommendations to senior management according to policy.
Required Education And Experience Any equivalent combination of education and experience that provides the applicant with the knowledge, skills, and abilities required to perform the job is acceptable. A typical way to obtain the knowledge and abilities would be:
Education/Training
Bachelor’s degree (B.A.) or equivalent.
Experience
Minimum 2-5 years consumer and/or mortgage collection and collection experience.
Comprehensive functional experience with:
Vehicle repossession and liquidation
Post charge-off recovery remedies
Bankruptcy law and lender’s rights
License Or Certification
Bondable
Acceptable Credit History
Notary Public desired but not required.
Pay Range USD $56,814.00 - USD $85,170.00 /Yr.
Compensation & Benefits
Health, Dental & Vision Benefits
Bonus opportunity
401(k) with match and profit sharing
Flexible Time Off
Empeople Credit Union is an EEO/Affirmative Action Employer.
EMPLOYMENT AT WILL Empeople Credit Union employment is at will. Employees may resign from Empeople Credit Union as they choose. Similarly, Empeople Credit Union may terminate an employee at any time, with or without notice or cause. Nothing in this Handbook or any other manual or policy adopted by Empeople Credit Union in any way alters the at-will nature of employment at Empeople Credit Union. False statements or material omissions in the Application for Employment will be grounds for immediate termination.
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