RISK MANAGEMENT ADJUSTER

POSITION DESCRIPTION:

RISK MANAGEMENT ADJUSTER

Department: RISK MANAGEMENT ADJUSTER

Classification: Non-Exempt

Reports to: Risk Management Manager

GENERAL DESCRIPTION:

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 CTFCU’s professional image is maintained.

ESSENTIAL FUNCTIONS:

1. Receives delinquency reports from the computer system and verifies the status of the accounts.
2. Follows up on delinquent accounts by telephone, and correspondence to secure a satisfactory resolution to the repayment problem.
3. 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 current, a write-off, bankruptcy, or attorney account. Makes early contact with members to collect and keep them informed of account status.
4. Utilizes effective human relations skills and various forms of persuasion to present a positive company image in an already negative situation. Calms irate members and answers questions and complaints relevant to department functions.
5. Determines reasons for delinquencies and works toward permanent solutions. Minimizes losses by early actions.
6. Utilizes further appropriate collection methods if initial attempts do not secure required payment. Suggests consolidations and financial counseling.
7. Recommends and completes small claims court complaints and post judgment actions including garnishments and supplemental orders. Recommends possible charge-offs.
8. Performs collections efforts in accordance with company policies and procedures and ensures they are legally compliant.
9. Assist in department and on special projects as needed.
10. Complies with all federal, state, and organizational policies, procedures, and processes, including (but not limited to) the Bank Secrecy Act (BSA) and Office of Foreign Assets Control (OFAC).
11. Keeps accurate and up-to-date activity reports on late, potentially late, and delinquent accounts.
12. Documents all collection actions taken, including telephone conversations, alternative financial arrangements, and correspondence on the collection system.
13. 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.
14. Maintains the company's professional reputation throughout collections operations and in all contacts with members.
15. Maintains confidentiality.
16. Develops contacts with credit bureaus and other financial institutions. Uses shared information to effectively minimize company losses.

1. Delinquent and problem accounts are closely monitored and reviewed.
2. Appropriate collections actions are instituted which are in accordance with established Company policies and are legally compliant.
3. Delinquent accounts are promptly collected. A delinquency ratio, which meets management standards is

maintained.

1. Professional business relations exist with members. Members are properly assisted with their financial problems and their questions are courteously answered.
2. Required reports and records are accurate and timely.
3. Good working relations exist with area personnel and with management.
4. Management is appropriately informed of area activities.

QUALIFICATIONS

1. Knowledge of collection procedures and related laws and regulations.
2. Understanding of Company policies. Familiar with default and enforcement clauses.
3. Basic understanding of the U.S. Bankruptcy Code.
4. Accuracy and thoroughness in work.
5. Excellent communication, telephone, and public relations skills.
6. Ability to work well independently.
7. Ability to work well in stressful situations.
8. Ability to operate related computer applications and other business equipment including