Loss Mitigation Specialist (Collections)

Broadview Federal Credit Union•Albany, NY

1d•$20 - $23

About The Position

The Loss Mitigation Specialist is responsible for collecting negative-balance share accounts and delinquent loans and serving as a first-line supervisor and resource for Loss Mitigation staff. The role handles collection workflows, related calls and records, charge-offs, returned checks, account offsets, and reporting. It also supports meetings and documentation, works with internal departments and an outside collection attorney, and helps identify potential fraud or overdraft abuse. The specialist must maintain knowledge of applicable New York State and federal laws, regulations, and Broadview policies concerning collections and banking.

Requirements

Associate degree from an accredited college or university.
At least three years of telephone collection or call center environment experience.
Ability to read, analyze, and interpret legal documents and New York State, federal, and collection guidelines.
Good written and verbal communication skills.
Ability to work well under pressure and adhere to deadlines.
Ability to create and manipulate spreadsheets and documents using Microsoft Excel and Word.
Strong Microsoft Office software skills.
Experience with the Telephone Collection Practices Act and Fair Debt Collection Practices Act.
Understanding of charge-back rights.
Ability to acquire and preserve knowledge of applicable New York State and federal laws and Broadview policies relating to collections and credit union/commercial banking.

Nice To Haves

Notary Public certification, or the ability to obtain certification.
Fluency in a second language in addition to English; bilingual applicants are highly encouraged to apply.

Responsibilities

Act as a resource for Loss Mitigation staff on policy and procedural questions.
Work the daily negative-share workflow and check queue.
Collect shares assigned by department management, including negative balances and delinquent loans.
Handle incoming and outgoing calls related to the department and position-specific collection duties.
Maintain accurate records used in the collection of negative shares and loans.
Process charge-offs and handle in-house returned checks, collecting on the associated accounts.
Apply rules and regulations concerning account offsets, including restrictions related to SSI, SSD, and pension funds.
Participate in Controllable Loss Meetings, document discussions and action items, track Broadview status and process updates, and communicate trends to management for approval.
Work with the Fraud department to identify potential fraud, scams, or other suspicious items.
Understand ChexSystems reporting, review weekly FIS exception reports, and manually update items that do not report properly.
Recommend payment arrangements, member service termination, monthly share charge-offs, or advanced internal collection efforts to the Loss Mitigation Manager.
Maintain business relationships with the outside collection attorney and internal departments, including Operational Support and the Fraud Auditor, in coordination with the Loss Mitigation Manager.
Identify possible issues or abuse involving overdraft products.
Perform other duties as needed.