Collections and Recovery Specialist

Argent Federal Credit Union

2d•Onsite

About The Position

This is a great opportunity for an individual with excellent communication and negotiation skills who has a desire to assist members in resolving their financial challenges. Performing all aspects of collecting, including contacting delinquent accounts, creating repayment strategies, coordinating repossessions and filing the appropriate paperwork while executing the credit union policies, objectives and goals. The Collection and Recovery Specialist is responsible for performing various collection duties on Consumer Vehicle loans, consumer personal loans, and credit cards in various stages of delinquency. This position is responsible for control and resolution of delinquent loans and credit card accounts in order to minimize losses. The will work quickly and accurately to contact customers to determine a reason for payment delinquency and negotiate a payment commitment while maintaining a professional and pleasant demeanor. Using a computerized system for tracking, information gathering, and troubleshooting, you will complete phone calls to meet required performance standards and metrics. You will be responsible for research and follow-up on issues relating to these accounts. The goal of this role is to effectively reduce delinquency, losses and increase recoveries. This Job Is Ideal for Someone Who Is: Dependable -- more reliable than spontaneous People-oriented -- enjoys interacting with people and working on group projects Detail-oriented -- Focus on the details of work while looking ahead at the bigger picture

Requirements

High School Diploma
Knowledge of Microsoft Office
Must have effective communication skills (written & phone)
Must be self-motivating, possess creative problem-solving skills, and be adaptable to different challenges.
Experience in Banking/Credit Union environment
Demonstrated negotiations skills

Nice To Haves

Previous collection experience
Experience in the finance or automotive industry
Skip Tracing
Bilingual is a plus (Spanish)
Regulatory knowledge including FDCPA, Reg Z, FACTA, FCRA and SCRA

Responsibilities

Accountable for initiating all necessary actions to collect payments from members regarding delinquent accounts for the purpose of bringing such accounts up to date; for follow-ups on such accounts, and maintenance of records relating to such accounts.
Make outbound collection attempts (on financial products like auto loans, credit cards, etc.) by phone, mail, and e-mail according to the department standards
Accept inbound calls/e-mails and return phone calls and e-mails in a timely manner
Identify specialty accounts for proper handling such as repossession, legal filing, closure, suspension and charge off
Transact routine financial business or refer to appropriate team member
Review accounts for workout arrangements such as extensions, and partial payments.
Conduct skip tracing, as necessary, to obtain contact information in order to contact delinquent/defaulted members
Process and complete follow up on Disability and Life claims
Assist in preparation of monthly charge offs for loans and visas
Maintains a record of conversations, either by phone or in person, regarding account conversations, promises, or solutions with the member in the collection systems.
Reports to the manager of any special problem account to assure that the correct action is taken such as completing loan modifications, payment extensions etc.
Cross train and back up to other positions in the department.
Performs any other duties as assigned.
Demonstrates excellent telephone etiquette and an ability to establish rapport with members over the phone.
Ability to multi-task, handle ambiguity and adapt quickly to changing circumstances.
Demonstrate empathy and ownership of tasks assigned.
Understands and adheres to the Fair Debt Collection Practice Act, Collection Laws, and Fair Credit Reporting Act.