Collections Associate I

BLACK HILLS FEDERAL CREDIT UNION•Rapid City, SD

4d•Onsite

About The Position

Assist with the collection activity on delinquent accounts. Assist in the preparation of necessary reports for Management and the Board of Directors. Provide financial counseling for those members needing assistance. Perform quality control audits on loan files and computer records.

Requirements

Knowledge of laws and regulations affecting lending and collections.
Knowledge of bankruptcy, repossessions, and third-party collections.
Knowledge of organization's policies/procedures and Credit Union's service philosophy.
Knowledge of the Credit Union's in-house computer system.
Knowledge of the Credit Union's products and services.
Knowledge of the legal, insurance, regulatory, economic, competitive, and technology environments that may affect the collections operation function.
Vision: A sighted person to read and interpret financial data.
Speech/Hearing: Ability to communicate verbally and in writing with staff, members and vendors.
Manual Dexterity: Ability to perform necessary computer-related input.
Physical Mobility: Moderate mobility required.
Ability to understand and follow complex written and oral instructions.
Ability to comprehend complex functions and procedures and to be able to disseminate that knowledge in a clear and understandable format to others.
Ability to express oneself, clearly and concisely, both orally and in writing.
Ability to interact positively with co-workers, management, and the public to promote a team effort and maintain a positive attitude even under extreme pressure.
Ability to remain professional and calm during conversations for members who are in delinquent status.
Ability to provide financial education and World Class Member Service while collecting overdue payments from members.
Ability to think critically and provide recommendations for the member’s financial well-being.
Refer members to appropriate CU representative for financial products/services where applicable.
Ability to prepare and maintain confidential records and reports.
Ability to gather, assemble, correlate, and analyze facts and develop solutions.
Ability to analyze statistics and financial data.
Collections Associate I: Job requires a high school level of language, math and reasoning skills.
Zero to two years’ experience in a related field with equal responsibilities is acceptable.
Formal training should be supplemented with continuing education.

Nice To Haves

Collections Associate II: Meets the essential job functions, knowledge, skills and ability requirements for a Collections Associate I.
3 or more years of relevant experience in a related field provided the candidate has held equivalent responsibilities.
Formal training should be complemented by ongoing professional development.
Ability to independently manage the collections queue assignments and set deadlines.
Ability to collaborate with team members and cross-train where appropriate.
Ability to process third party payments
Responsible for flagging accounts for charge off.
Ability to process garnishments.
Ability to work on various reports with internal and external stakeholders.
Ability to process consumer credit counseling proposals and payments.
Prepare and send documents to third-party vendors as requested.
Elevated ability for high-conflict conversations with members and vendors.

Responsibilities

Assist with daily collection operations and maintain the centralized collections queue as directed by AVP Collections.
Responsible for the initial collection of delinquent loans as directed by the AVP Collections.
Implement and execute all AVP Collections and CLO approved decisions.
First point of contact with members via letter, phone, text messages, and email for loans that are in delinquent status.
Make payment arrangements and provide financial education to member’s in order to establish payment plans to bring member’s loan current.
Work various Collection Dept reports, conduct research and perform clerical tasks as assigned by AVP Collections.
Communicate offset of funds with members who are in delinquent loan status per applicable loan disclosures.
Perform skip-tracing on delinquent accounts.
Investigate and resolve member’s credit bureau disputes via mail, email, or phone call.
Maintain records to support collection activity on accounts assigned for collection.
Assist AVP Collections with collection reports for comparability and analysis.
Assist with calls related to garnishments, bankruptcy, repossessions, and third-party collections as assigned by AVP Collections.
Direct members to appropriate resources.
Ensure confidentiality and security of all loans assigned for collections.
Take necessary actions such as reviewing/revoking credit cards or line-of-credit or placing funds on hold when necessary.
Ability to work flexible hours when deemed necessary by AVP Collections.
Perform other duties as may be assigned by AVP Collections or CLO.