Collections Officer

BMI Federal Credit Union•Dublin, OH

18d•Onsite

About The Position

Responsible for the control of late and/or delinquent loan accounts by establishing and maintaining communication with members in order to facilitate collecting payments and organizing information pertaining to the delinquent accounts. The position is also in charge of protecting the assets of the credit union and minimizing losses on behalf of its members while in compliance of all state and federal regulations and laws, and compliance with all governing regulations. This position is a back-up to other Collections Officer positions, in the lending department.

Requirements

High School Diploma or equivalent required
Collections, consumer finance, and/or lending background required
A minimum of 1-3 years of related experience; a viable combination of experience and education will be considered
Previous customer service and/or banking experience
Knowledge of laws and regulations related to collections and bankruptcy
Proficient in Microsoft Office, general computer programs, and general office equipment
Advanced problem-solving skills
Analytical, critical thinking, and problem-solving abilities in combination with effective interpersonal relationship skills
Excellent written and oral communication skills
Strong attention to detail
Skills in organization and planning
Ability to receive and maintain confidential information
The ability to obtain Certified Financial Counselor status

Nice To Haves

Some college education preferred

Responsibilities

Establish contact via phone, letter, or visits with members who are delinquent on their payments to ascertain member status and reason for delinquency
Professionally and respectfully encourage members to pay in an effort to bring and keep their account current
Analyze, evaluate and assist members with credit problems; recommend and establish alternative payment options
Make recommendations to members regarding repossessions, refinances, modifications and charge-offs
Consult with management and recommend solutions on more problematic accounts to limit loan losses
Notify co-signers regarding status of delinquent accounts
Update files and system accounts using the credit union’s collection system
Locate missing members by contacting the following including but limited to: relatives, neighbors, and employer(s); request information from outside sources relating to verification of credit information
Track, record, and monitor, and notify repossessions
Serve as a liaison with legal counsel regarding all real estate and non-real estate transactions
Assist with the collection of Negative Share (NS) accounts
Review charge off accounts for recovery options and ensure payments and arrangements are still being met
Research payroll deductions, stops, starts, and changes as they may affect the status of loan repayment
Process and assist with payment
Prepare and track all modifications/extension requests
Assist members in filing credit life and/or credit disability insurance claims in addition to total loss insurance and gap and warranty claims
In some cases: file claims, attend hearings, and coordinate with trustees for all bankruptcy filings
Assign and identify accounts for legal action
File reports with appropriate law enforcement agencies on fraud and forgery items; file bond claims with insurance company