Senior Collections Representative

Alliant Credit Union•Chicago, IL

5d•$46,100 - $65,300•Hybrid

About The Position

Service and manage delinquency, loss prevention, and loss mitigation activities for member loan and depository products, including but not limited to credit cards, mortgages, vehicle loans, student loans, and personal loans. Perform collections activities across all stages of delinquency, from early-stage account servicing through recovery and charge-off. Responsibilities include member outreach, payment processing and arrangement negotiations, hardship assistance, skip tracing, repossession support, settlement negotiations, loss mitigation solutions, and charged-off account recovery. Work directly with members to identify repayment options that balance member needs with the Credit Union's loss prevention.

Requirements

Minimum - High School or Equivalent
Minimum - 2 Years Collections or Related

Nice To Haves

Preferred - 1 Secondary Language Skills or Related

Responsibilities

Manage delinquent member accounts across stages of delinquency through outbound and inbound communications, facilitating payment solutions and providing account assistance.
Analyze account risk and collaborate with members to develop appropriate repayment, hardship, loss mitigation, settlement, or recovery solutions that balance member needs with the Credit Union's risk objectives.
Process payments, payment arrangements, automatic payment setups, account transfers, third-party authorizations, and other account servicing activities related to delinquent accounts.
Negotiate repayment plans, modified terms, settlements, and other recovery solutions for delinquent, charged-off, repossessed, or high-risk accounts.
Conduct skip tracing, locate updated member contact information and assets, and support recovery efforts through appropriate collection strategies.
Manage and support collections-related recovery activities, including repossession, redemption, deceased member account resolution, total loss claims, deficiency balances, and other loss mitigation initiatives.
Audit accounts, obtain required documentation, and ensure collection activities comply with applicable regulatory, legal, and internal policy requirements.
Serve as a resource for members and internal business partners by providing accurate account information, resolving complex issues, and handling escalated member concerns.
Meet established service level agreements and performance expectations related to delinquency, loss prevention, recovery, productivity, quality, and member experience.
Maintain expertise in loan and depository products, collections practices, and regulatory requirements while identifying opportunities for process improvement and operational effectiveness.
Adhere to and ensure compliance of all business transactions with policy and process of the Bank Secrecy Act.
Ensures compliance with all applicable state and federal laws, company procedures and policies.
Maintains integrity and ethics in all actions and conversations with or regarding credit union members and their accounts; complies with Privacy Act directives.