Senior Collection Specialist

Virginia Credit Union•Midlothian, VA

2d•$46,000 - $56,000•Hybrid

About The Position

This is an advanced-level position for the Collections Specialist series. The Senior Collections Specialist provides team leader support for the Collections team. Prepares documentation and serves as the primary contact for repossessions, legal action, garnishment or assignment to attorney for cases originated in Collections. Serves as backup telephone support for collection staff. Upon completion of training, scheduled hours are 1 week in office / 3 weeks work from home.

Requirements

Working knowledge of legal collection process and proven negotiation skills.
Must be performing at a Significant Contributor level after completion of the OJT Collections Specialist I and II training program.
Must be proficient with computers.
Good keyboarding skills with the ability to maneuver in a Windows based environment.
Must have the ability to effectively communicate with members both verbally and in writing.
Must be skillful in problem-solving and making swift, sound judgments.
Must show by example the increased abilities learned.
Must be self-motivated.
Must demonstrate proven follow up and negotiation skills.
Works well in team settings.
Ability to listen carefully, probe for additional details, and ask targeted questions to gather information.
This person must be able to handle stressful or difficult situations in a calm manner and be able to handle multiple priorities in a timely manner without direct supervision.
High school diploma or equivalent required.
Prior collection experience required.
Must have demonstrated leadership skills.

Nice To Haves

College or business related courses preferred.

Responsibilities

Primary contact for repossessions. Ability to approve reinstatement, recall or redemption of repossessed vehicles.
Leads team during scheduled overtime.
Post garnishment checks
Prepares documentation for use in court cases.
Review and recommend accounts for monthly charge off
Review reports and assess accounts subject to right of offset
Manages a portfolio of discharged bankrupt accounts within limits set by the Bankruptcy Reform Act
Enters workout requests in loan origination system.
Submits paperwork to release garnishments.
Serves as a system tester for Collections as needed.
Contact members appearing in court with the goal of negotiating a resolution
Escalated call handling
Processes extension request when needed.
Performs on the job training as needed
Provides mentoring and coaching to new collectors.
Acts as a resource for other credit union staff.
Makes decision to restrict debit cards
Makes decision to revoke delinquent lines of credit or credit cards not revoked automatically.
Recommend accounts for workouts when appropriate. Knowledgeable in determining if meet criteria.
Submits paperwork to initiate repossession, legal action, garnishment or assignment to attorney after assessing the risk exposure.
Utilize various software applications such as Miser, Hostlink, and STAR to update accounts.
Appear as a witness in court on behalf of the Credit Union.
Utilize sales process to effectively influence action on accounts based on information gathering
Submits paperwork to satisfy judgment
Contact delinquent members to determine intent to pay and bring resolution to unpaid accounts within the limits set by the Fair Debt Collection Practices Act, Bankruptcy Reform Act, and other federal regulations.
Interact with members who have outstanding court dates to negotiate a resolution
Manage a portfolio of accounts by sorting them based on due date or next contact date and setting follow up dates to ensure accounts are contacted within deadlines.
Strive to minimize delinquency and loan losses and achieve goals set for the Credit Union.
Systematically reviews delinquent accounts and follows up for maximum repayment.
Promote the credit union by cross-selling services focusing on member needs.
Inform, Educate, and Guide members, regardless of the individual circumstances.
Maintain good member relations while collecting on delinquent balances
Demonstrate effective skip tracing techniques by utilizing credit bureau, origination systems, Internet, WebXtender, FDI and other skip tracing sites to locate information.
Provide assistance by offering solutions based on member’s individual needs with the goal of negotiating immediate payments and /or promises to pay with specified payment dates and amounts
Identify sources of money to assist members with payment options based on member’s individual circumstance with the goal of negotiating immediate payments and /or promises to pay with specified payment dates and amounts
Interact with members in accordance with state and credit union guidelines while working in a fast-paced environment.
Accurately and professionally document collection systems with details of current contacts and subsequent results for follow up.
Research contact information to locate members when necessary
Explain options to resolve delinquency over the phone.
Remove/set flags on accounts to restrict access as appropriate
Assist members experiencing financial difficulty by making referrals to BALANCE or other Consumer Credit Counseling Service.
Prepares documentation for use in court cases.
Maintain current knowledge of Federal regulations and Credit Union policies and procedures related to collections and consumer lending.
Perform various other duties such as transferring money to make payments on delinquent accounts and assisting member with automatic payments problems.
Answer internal and external calls from employees/members and provide excellent quality service as indicated in the Member Experience guidelines.
Other duties may be required and assigned by the supervisor.