Debt Recovery Specialist

Cedar Point Federal Credit Union•Lexington Park, MD

About The Position

This role involves managing delinquent accounts, including loans, master cards, mortgages, and overdrawn accounts, using the Keystone Collections system. The specialist will be responsible for preparing account information, making and receiving phone calls, following up on accounts, researching and correcting errors, processing payment and extension agreements, and maintaining accurate records. Additionally, the role requires assisting with bankruptcy claims, researching and correcting credit report disputes, preparing accounts for legal action, and contributing to debt recovery reports. The specialist must stay knowledgeable about credit union products and adhere to all relevant rules and regulations, including the Bank Secrecy Act.

Requirements

High School graduate
Two or more years of experience in a financial institution or in debt collection.
Knowledge of all credit union products and services.
Knowledge of general office procedures and organizational skills.
Ability to work in a fast-paced environment and be flexible with schedule.
Ability to communicate well with members and staff.

Nice To Haves

Microsoft Office experience helpful.
Previous experience with debt recovery is helpful.

Responsibilities

Prepare basic information on delinquent loans, master cards, mortgages, and/or overdrawn accounts using Keystone Collections.
Make and answer phone calls related to delinquent accounts.
Follow up on worked accounts.
Research accounts to correct deficiencies caused by error.
Make interest and principal adjustments as required.
Prepare payment or extension agreements at member’s request.
Keep records on delinquent loans, master cards, mortgages, and/or overdrawn accounts.
File documentation as needed.
Write up and post daily mail.
Check current addresses in computer to ensure correct information.
Research and purify accounts from queues within Keystone Collections to include but not limited to overdrawn accounts, delinquent loans, master cards, and mortgages.
Assist with the processing of bankruptcy claims.
Contact members on accounts assigned to resolve errors and produce payments.
Record all member contacts along with any promise to pay.
Post payments to accounts, including posting and recording of payments to charged-off accounts.
Maintain complete and accurate records of attempted recovery activity as directed by the Debt Recovery Manager.
Prepare correspondence to delinquent members and use certified mail when desirable to ensure member notification.
Maintain knowledge of all credit union products to aid in the research, correction or collection of accounts.
Research and correct credit report disputes within E-Oscar.
Report negative charged off accounts to Efunds.
Prepare delinquent accounts for legal action.
Assist with the creation and maintenance of all debt recovery reports.
Complete required and recommended educational courses.
Follow all rules and regulations as applicable to the job function, including but not limited to the Bank Secrecy Act.
Perform all other duties as assigned.