Collections Representative II
HYBRID POSITION
Position Title: Collections Representative II
Department: Account Resolutions
Supervisor's Title: Collections Manager
Classification: Non-Exempt
Starting Salary Range: $22.05 - $27.56
Benefit Highlights:
- Competitive compensation!
- Medical, Dental, and Vision Insurance!
- 401K with up to 4% company match!
- Holiday Pay starting at day 1!
- Paid Vacation Time!
- Medical Benefits starting at your 31st day of employment!
And Many More!
Summary:
Under general supervision is responsible for the collection of past due accounts by negotiating and establishing repayment within the defined guidelines. Must maintain documentation on past due accounts and collections process.
Essential Functions:
- Responsible for the primary collection of accounts over 30 days delinquent, including but not limited to: soliciting payment arrangements on delinquent loans, interviewing members to determine reason for delinquency, taking appropriate action to resolve the account (up to and including modifications, restructures and settlement offers), counseling members concerning their financial obligations and offering suggestions and alternatives, recommending further action as deemed necessary (i.e. repossessions, legal action, foreclosure, referral to 3rd party collection agency), skip tracing as necessary to locate members and posting loan payments.
- Respond to member inquiries by phone, email or in person for CPI claims, GAP and other dealer sold insurances, NADA values and address updates.
- Responsible for thorough documentation of all loan arrangements and payment schedules made with membership for potential follow up on broken arrangements.
- Responsible for processing many items including but not limited to all incoming emails, member mail payments, skip-a-pay requests, loan payoff requests, recalculation of CPI, address changes, monthly invoices from 3rd party legal counsel, remittances for legal/bankruptcy trustee/collection agency, and questions regarding CPI, Lender Debt Protection, and GAP.
- Conducts transactions that may include internal funds transfer, electronic transfer from other financial institutions, account research, debit card payments, and reviewing accounts for right of offset.
- Prepares and files legal documentation for Belco or 3rd party legal counsel as required for legal proceedings. Attends court hearings for various legal/bankrupt loans when necessary.
- Assists in training of all new collections representatives on all day to day collections practices and all Belco policies and procedures in conjunction with Belco Management.
- Locate delinquent members, co-signers and/or co-borrowers by using credit bureau information, loan documents, Accurint, other paperwork or through other skip tracing techniques.
- Research and solve complex member questions, problems and complaints, while making recommendations to match individual member needs with appropriate value-added products and services to enhance the member relationship with the credit union.
- Evaluate and recommend when loans should have collateral repossessed or foreclosed within Account Resolutions policies and procedural guidelines. Process documents behind the scenes relating to repossession and 3rd party legal cases.
- File all claims, attend hearings, and coordinate with trustees for all bankruptcy filings and 3rd party legal actions.
- Investigate and correct discrepancies in credit bureau reports through the use of e-oscar.
- Create and send delinquent notices on past due accounts.
- Assist with fraud and other criminal investigations to minimize losses to the credit union and its members; identifies and initiates criminal and civil action against those individuals committing fraudulent acts. Provides written recommendations to management.
- Assists the Overdraft Privilege Representatives and Fraud Analysts in performing collection activities on negative share accounts. At times pose questions to members concerning fraud investigations.
- Ability to work some evening and weekend hours to cover branch sales and service.
- Maintains confidentiality of information and controls.
- Seize any opportunity to cross sell credit union products and services to members and to educate members about Belco, its products and services.
- Abide by Belco’s policies, procedures and standards.
- Embody Belco’s mission, vision and core values.
- Perform any other duties as requested by the SVP of Operations, VP of Account Resolutions or Collections Manager.
Competencies:
- Functional Skills: Account Management, Dependability, Handling Difficult Issues
- Operating Skills: Quality Of Work, Productivity/Output, Communication
- Relationship Skills: Member Focus, Teamwork
- Belco’s Behavioral Expectations
Work Environment:
This job operates in a professional office environment and can function in a hybrid work arrangement consisting of in-office work and remote work. This role does require a minimum of 20% in-office time. This role routinely uses standard office equipment such as computers, phones, printers, filing cabinets, and fax machines.
Physical Demands:
The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. This is a largely sedentary role; however, some ambulation is required. This would require the ability to sit, stand, bend, hand dexterity, and the ability to move from one area to another throughout a one-floor office layout. Stairs and elevator provided for movement from one floor to another and to enter or exit the building.
Travel:
Some travel will be required. Driving a personal vehicle to court hearings as needed – approx. 10%
Minimum Required Education and Experience:
A high school graduate with a minimum of two years of similar or related experience, including time spent in a preparatory position.
Preferred Education and Experience:
A two-year Associate’s degree in Business and five years’ experience in a collector role.
Additional Eligibility Qualifications:
None
Disclaimer:
Please note this position description is not designed to cover or contain a comprehensive listing of activities, duties or responsibilities that are required of the employee for this job. Duties, responsibilities and activities may change at any time with or without notice.
We are an Equal Employment Opportunity employer. Qualified applicants will receive consideration for employment without regard to race, color, religion, national origin, sex, gender identity, sexual preference/orientation, age, disability, marital status, pregnancy, veteran status or other legally protected bases. Belco’s Diversity and Inclusion initiatives provide all employees with equal access to training and advancement opportunities throughout the organization.
Belco will provide reasonable accommodation to applicants and employees with disabilities where appropriate throughout the application and employment process. Determinations on requests for reasonable accommodation related to any job function will be made on a case-by-case basis. A reasonable accommodation is any change to a job, the work environment, or the way things are usually done that enables an individual with a disability to apply for a job, perform job duties or receive equal access to job benefits.
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