Collector I

Cfe Federal Credit Union - Lake Mary, FL

Full-time - Entry Level

Lake Mary, FL

Credit Intermediation and Related Activities

About the position

The Collector I position is responsible for notifying and locating borrowers with delinquent accounts to secure payment. This role plays a crucial part in maintaining a financially sound loan portfolio through early delinquency control, utilizing various communication methods such as phone calls, text messages, and collection letters. The collector will also recommend further actions on accounts as necessary, including repossession and legal action.

Responsibilities

• Work delinquency queue daily to contact delinquent members and negotiate payment arrangements.
• Follow up on all delinquent accounts to ensure payment arrangements are made and develop payment plans.
• Perform thorough skip tracing on delinquent accounts as needed.
• Ensure compliance with Credit Union policies, procedures, and state and federal regulations.
• Maintain accurate data on all delinquent accounts, including documentation of repossessions and charged off accounts.
• Document all collection activity, including third-party collection activity and communications with borrowers.
• Post collected payments to member's accounts.
• Troubleshoot and resolve member inquiries in a timely manner.
• Research automatic payment methods and their effects on loan status.
• Recommend loans for charge offs and monitor shares for charge off compliance.
• Collaborate with the team to meet the credit union's goals for charge off and delinquency ratios.
• Comply with all company policies and applicable laws.

Requirements

• High school diploma or GED equivalent.
• 1+ years of experience in collections or related field, or equivalent combination of education and experience.
• Ability to read and comprehend simple instructions and correspondence.
• Effective communication skills for one-on-one interactions with borrowers.
• Basic math skills including addition, subtraction, multiplication, and division.
• Knowledge of computing rates, ratios, and percentages.
• Ability to apply common sense understanding to carry out instructions in various forms.
• Problem-solving skills in standardized situations.