Collections/Account Resolution Team Lead

BANK FUND STAFF FEDERAL CREDIT UNION•Washington, DC

3d•$70,000 - $87,000•Hybrid

About The Position

BankFund Credit Union is a full-service financial cooperative organized and chartered in 1947. Located in Washington, DC, BankFund maintains three full-service branches downtown with our headquarters located near Farragut West metro station. This position is classified as a hybrid role which means that on-site work will be expected. After completion of training for the role, staff generally work on site 40% of the time but this is subject to change based on health and safety standards and operational need.

Requirements

2 year/Associate's Degree
8 years of relevant experience
A strong and proven commitment to the Credit Union’s Service IMPACT Philosophy
Knowledge of billing and collections procedures
Knowledge of Bankruptcy process
Knowledge of Repossession process
Strong problem-solving skills with the ability to think independently
Strong attention to detail
Strong understanding of Credit Union’s loan products and services
Ability to multi-task
Highly motivated and organized
Independent worker
Commitment to excellent customer service
Excellent written and verbal communication abilities

Nice To Haves

Collections experience at a credit union
Financial Counseling Training/Certification
Bankruptcy Training/Certification
Leadership/Communication Training

Responsibilities

Perform daily collection outreach for delinquent consumer loans, real estate, credit cards and negative share accounts to resolve delinquency through payment plans or other loss mitigation options
Contact delinquent members to offer short/long term solutions including repayment plans, promises-to-pays, or loss mitigation options (e.g. forbearance, deferment, loan modifications, refinance)
Monitor delinquency performance in collection queues, advise and work with staff if queues are outside of KPIs and report trends to Account Resolution Manager
On a routine basis, monitor collection cases for accuracy of information, documentation, and collection practices.
Maintain knowledge of, and processes for, specialty cases (Bankruptcy, Repossession, Foreclosure, and Decedent accounts). Guide and support Account Resolution staff with specialty cases and periodically monitor cases for quality assurance and completeness.
Provides coaching to Account Resolution staff on daily collection processes
Serve as the primary path for escalated complaints and forwards to Account Resolution Manager as necessary
Ensure Account Resolution staff process timely delivery of repossession letters, maintaining the repossession cases /records, transport and remarketing of vehicles while maximizing the return of sold collateral
Ensure Account Resolution staff file Bankruptcy proof of claims, prepare reaffirmation agreements when needed, post-Bankruptcy payments and maintain proper record of claims
Ensure Account Resolution staff file Estate proof of claims for deceased members
Assist the Account Resolution Manager with Foreclosure recommendations and maintain case documentation.
Recommend accounts for charge off and refers accounts to the Account Resolution Manager for review
Upon approval from the Board and Management, process Loan Charge Offs in core system
Responsible for liaising with Accounting Department for NCUA Call Reporting and Investor Reporting obligations
Responsible for third party placements and third-party payment reconciliation
Responsible for In-house collection recovery of charged-off loans.
Assists Account Resolution Manager with negotiating settlements on charged off accounts
Assist in the preparation and mailing of IRS Form 1099-C
Review and recommend updates to operational procedures to Account Resolution Manager
Serve as backup up to all Account Resolution staff
Perform all other related functions, projects, and testing assigned by the Account Resolution Manager
Maintain working knowledge of the federal and state consumer protection laws (Unfair, Deceptive, or Abusive Acts or Practices; Fair Debt Collection Practices Act; Fair Credit Reporting Act; Service-members Civil Relief Act; etc.)