Recovery Resolution Specialist

Wolverine State Credit Union • Alpena, MI

23d

About The Position

Responsible for performing collection activities associated with various delinquent accounts. Reviews delinquent accounts, determines probable reasons for account status, and contacts members to resolve the delinquencies. Utilizes various techniques, as circumstances indicate, to promptly collect on delinquent accounts. Ensures the Credit Union's professional image is maintained.

Requirements

• High School graduate or equivalent required.
• Previous collection experience preferred.
• Previous experience working at a financial institution preferred.

Responsibilities

• Assumes responsibility for the effective and professional performance of collections functions.
• Receives delinquency reports from the computer system and verifies the status of the accounts.
• Follows up on delinquent accounts by telephone, personal contact, and correspondence to secure a satisfactory resolution to the repayment problem.
• Discusses possible financial arrangements, informs members of potential legal actions, and suggests financial counseling to arrive at suitable payment arrangements.
• Continues to collect until the account becomes collected, a write-off, bankruptcy, or attorney account.
• Makes early contact with members to collect and keep them informed of account status.
• Utilizes effective human relations skills and various forms of persuasion to present a positive Credit Union image in an already negative situation. Calms irate clients and answers questions and complaints relevant to department functions. Determines reasons for delinquencies and works toward permanent solutions. Minimizes losses by early actions.
• Utilizes further appropriate collection methods if initial attempts do not secure required payment.
• Recommends extensions of due dates. Suggests consolidations and financial counseling. Posts approved extensions and notifies members of new due date.
• Recommends and completes small claims court complaints and post judgment actions including garnishments and supplemental orders.
• Recommends possible charge-offs to the Board of Directors.
• Performs collections efforts in accordance with Company policies and procedures and ensures they are legally compliant.
• Informs management of trends in loan underwriting contributing to delinquent/charged-off loans. Keeps accurate and up-to-date activity reports on late, potentially late, and delinquent accounts. Documents all collection actions taken, including all telephone conversations with the member, alternative financial arrangements, and correspondence on computer.
• Researches accounts that appear on late and potentially late records to ensure that Company errors are detected promptly. Provides members the opportunity to fully explain their account status.
• Maintains the Credit Union's professional reputation throughout collections operations and in all contacts with clients. Maintains confidentiality.
• Develops contacts with credit bureaus and other financial institutions. Uses shared information to effectively minimize Credit Union losses.
• Assists area personnel as needed.
• Keeps management informed of activities, progress toward established objectives, and of any significant problems. Attends and participates in meetings as required.
• Stays informed of changes in collections policies, procedures, and related legal requirements.
• Ensures work area is clean, secure, and well maintained. Complete all relevant BSA (Bank Secrecy Act) training pertinent to role and demonstrate strict adherence to BSA policies and procedures.
• Other duties as assigned.

Benefits

• Weekly Pay
• 100% Company PAID health, dental and vision insurance for yourself and any qualifying spouse/dependents(Following 60 days of employment)
• 401(k) retirement plan (Following 90 days of employment)
• Paid time off: Vacation, Sick leave and company paid holidays
• Wellness reimbursement of up to $30/month (tickets to local community events, approved educational events or conferences)
• Tuition reimbursement after 1 year of employment

What This Job Offers

• Job Type: Full-time
• Career Level: Entry Level
• Education Level: High school or GED