Member Account Specialist (Collections)
About The Position
The Member Account Specialist (Collections) preserves the credit union's assets by controlling delinquent loan accounts, collecting delinquent loan payments, recovering collateral, and minimizing losses on negative deposit accounts. This role involves contacting members with delinquent accounts via phone and mail, analyzing their financial situations, and making recommendations for collateral repossession when necessary. The specialist will document all interactions, prepare reports, and inform management of trends in loan underwriting that contribute to delinquencies. Additionally, the role requires compliance with all relevant regulations and policies, including Bank Secrecy Act (BSA) and Office of Foreign Assets Control (OFAC).
Requirements
- One year to three years of similar or related experience.
- A high school education or GED.
- Work involves much personal contact with others inside and/or outside the organization for the purpose of first-level conflict resolution, building relationships, and soliciting cooperation.
- Discussions involve a higher degree of confidentiality and discretion, requiring diplomacy and tact in communication.
- Must have qualities that are consistent with CORE Values: Integrity, Honesty, & Respect, Passion, Commitment & Enthusiasm, Seek Excellence in All We Do, Work Hard and Have Fun, Friendly Service and Superior Value.
- Responsible for compliance with all required regulations and policies, especially with all Bank Secrecy Act (BSA) and Office of Foreign Assets Control (OFAC) policies, procedures and regulations.
Nice To Haves
- Ability to communicate in Spanish and English.
Responsibilities
- Contacts delinquent and negative balance accounts by phone and mail; takes appropriate action to bring current/positive.
- Analyzes financial situation of delinquent borrowers; makes recommendations to repossess collateral when other arrangements to bring the loan current are unsuccessful.
- Documents all contacts with detailed notes and reports on collections activity.
- Prepares reports as assigned.
- Testifies at legal proceedings as required.
- Informs management of trends in loan underwriting contributing to delinquent/charged-off loans.
- Performs other duties as assigned.
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What This Job Offers
Job Type
Full-time
Career Level
Mid Level
Education Level
High school or GED
Number of Employees
11-50 employees
