Repayment Solutions Specialist (Collections)

Michigan Schools and Government Credit Union • Troy, MI

15h • Hybrid

About The Position

This role is responsible for protecting MSGCU’s assets and developing strong relationships with members who need special assistance. The specialist will analyze risk by understanding MSGCU’s collection policies and procedures, as well as relevant laws pertaining to account collection, fair debt collections practices, and bankruptcy.

Requirements

• Member Focus: Uses active listening skills to gain understanding and determine the needs of others in order to resolve problems, build strong relationships (internal/external), and deliver member-centric solutions.
• Action Oriented: Takes on new opportunities and tough challenges with a sense of urgency and enthusiasm.
• Communicates Effectively: Develops and delivers communications (verbal and written) that convey a clear understanding of the unique needs of different audiences.
• Instills Trust: Gains the confidence of others by modeling honesty, integrity, authenticity, and behaviors that align with organizational values. Exemplifies courage by stepping up to address difficult issues.
• Self-Development: Actively seeks new ways to grow and be challenged using formal and informal development channels.
• Proficient in Microsoft Office products (Word, Excel, Outlook, PowerPoint) and the ability to operate standard office equipment.
• Knowledge of simple cash accounting records and mathematical proficiency.
• Understands the basic civil legal process and knows when to place accounts for claim and delivery, civil suit for judgment etc.
• Functional understanding of bankruptcy laws, fair debt collection practice, and skip tracing techniques.
• High school diploma or GED
• 2 years of collections or financial institution experience.

Responsibilities

• Manages and resolves past due accounts across various products including real estate, unsecured loans, credit cards, and share accounts.
• Contacts members to negotiate payment arrangements that restore accounts to good standing.
• Maintains a high level of professionalism and empathy in all interactions to strengthen member relationships.
• Analyzes member’s overall relationship with MSGCU to develop tailored solutions that enhance cash flow, stabilize member finances, and minimize organizational loss.
• Utilizes collection software to maintain accurate and comprehensive records of all collection efforts.
• Keeps leadership informed about account statuses and collection activities to ensure ongoing alignment with organizational goals.
• Investigates suspicious activities to identify potential fraud.
• Ensures all collection practices adhere strictly to state and federal regulatory standards.
• Utilizes skip tracing techniques to locate members and collateral effectively.
• Coordinates the repossession process and oversees accounts handled by external collection agencies.
• Assists in the preparation and review of monthly and quarterly reports, including loan loss, monthly delinquency, charge-offs, metrics, and recoveries.
• Provides support, as necessary, for the broader Repayments Team to ensure excellent support for the organization.

Benefits

• Generous health benefits
• Vacation time
• Retirement plan contributions
• Discounts on loans
• Discounts on phone service
• Medical, dental and vision on your first day
• Health Savings Account (HSA)-eligible medical plan with no monthly premium for you (and your family)
• 3% contribution from MSGCU to 401(k) for those at least 21 years old
• 100% match for the next 7% contributed to 401(k) for those at least 21 years old
• 12 paid holidays
• Up to 120 hours of PTO your first year of service (pro-rated based on start date)

What This Job Offers

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