Installment Loan Collection Representative
About The Position
Contacts members to arrange payments on delinquent installment loans and MasterCard accounts to mitigate loan losses for CEFCU. Coordinates with other departments to set up convenience services, such as automatic payments, payroll deductions, and Automated Clearing House (ACH) origination to assist members in making timely payments. Directs use of proven collection practices, including skip tracing, revocation of credit lines, and liquidation of security when required. Initiates repossession process with third party repossession company. Uses professional techniques to limit losses on delinquent loans. Uses creative payment arrangements or modifications to help members in need when appropriate. Provides the highest quality member experience, for both internal and external members.
Requirements
- High school diploma or equivalent.
- 0-2 years collection experience.
- Thorough understanding of loan process.
- Ability to understand and navigate through CEFCU mainframe systems and screens: Automated Loan Processing System (ALPS), Member Account File (MIF), and Collection Screen (COL).
- Proven ability to resolve conflict, think critically, and respond appropriately to members in heightened emotional state.
- Ability to communicate with tact and professionalism.
Nice To Haves
- Experience/familiarity with MasterCard screens.
- Knowledge of collection law and procedures or Fair Debt Collection Practices Act.
- Familiarity with CEFCU’s Loan and Collection policies.
- Interviewing and probing/interrogation skills.
- Applicable college courses and/or commensurate credit and collection experience.
- Working knowledge of Temenos Collection System
Responsibilities
- Contacts members to arrange payments on delinquent installment loans and MasterCard accounts to mitigate loan losses for CEFCU.
- Coordinates with other departments to set up convenience services, such as automatic payments, payroll deductions, and Automated Clearing House (ACH) origination to assist members in making timely payments.
- Directs use of proven collection practices, including skip tracing, revocation of credit lines, and liquidation of security when required.
- Initiates repossession process with third party repossession company.
- Uses professional techniques to limit losses on delinquent loans.
- Uses creative payment arrangements or modifications to help members in need when appropriate.
- Provides the highest quality member experience, for both internal and external members.
Benefits
- Financial Merit-based raises
- Health and Welfare
- Generous paid time off (Holiday, Personal or Sick Time, Vacation)
- Comprehensive Medical, Dental, and Vision coverage (PPO, HDHP)
- Flexible Spending Plan (Medical Reimbursement Account and Dependent Care Reimbursement Account)
- Health Savings Account
- Voluntary Benefits (Accident Plan, Critical Illness Plan, Hospital Indemnity Plan, Identity Theft & Fraud Protection Plan, Legal Plan)
- Life Insurance
- Accidental Death & Dismemberment Insurance
- Disability Benefits
- Defined Benefit Plan – Pension
- Defined Contribution Plan – 401K
- Employee Assistance Program
- Tuition reimbursement
- Career growth through internal job postings
- Management Development Program: formal mentoring and training
- Opportunities to help improve and build the CEFCU of tomorrow through process teams
- Opportunities to personally contribute to corporate financial literacy and community initiatives
- Casual days to support local charities
- Employee discounts on entertainment, cell phone plans, theme park tickets, and more
- On-site fitness center, fitness classes, and wellness program
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What This Job Offers
Job Type
Full-time
Career Level
Entry Level
Education Level
High school or GED
