What are the responsibilities and job description for the Collections Recovery Specialist position at COASTHILLS FEDERAL CREDIT UNION?
SUMMARY
Under the general supervision of the Collections Manager, the Collections Recovery Specialist 1 is responsible for performing a wide variety of member collections duties. Communicates with members to resolve outstanding delinquent accounts and minimize losses to the Credit Union and its members. Maintains a high level of member service and professionalism when dealing with difficult and sensitive situations. Professionally communicates with attorneys, Trustees, and credit counseling services to ensure maximum recovery and protection for the Credit Union.
ESSENTIAL FUNCTIONS
Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions. The following statements are intended to describe the general nature and level of work being performed by this position. It is not intended to be an exhaustive list of all duties, responsibilities, and skills required of this position. Other duties may be assigned to meet business needs.
Researches and analyzes data on past due and charged off loan accounts including negative share.
Contact members and third parties via telephone, letter, and email to determine reason for delinquency or loss.
Negotiates and establishes repayment plans on charge off loans for those with the intention of repayment.
Uses skip tracing efforts and tools to maximize contact for our members or analyze assets to pursue legal action.
Evaluates payments being made on delinquent accounts and determines how payment will be applied.
Responds to members’ inquiries and requests and assists in completing forms and documents.
Resolves member problems and/or complaints.
Research account loan transactions to resolve payment errors that lead to reducing losses.
Reviews accounts and loans to determine if legal action is feasible and financially responsible using professional judgment combined with CoastHills standards.
Works with legal counsel for summons and complaints, liens, bank levies.
Provides oversight on legal fees to ensure cost is minimized.
Evaluates and acts on bankruptcy cases filed by Credit Union members.
Review bankruptcy documents filed by members or members’ attorneys for accurate filing and discharge avoidance.
Attends 341 Meetings as needed, either in person or on phone or online. Questions members regarding intentions, location of vehicle, condition of vehicle, the Petition or other Bankruptcy documents, etc.
Files Proof of Claims to maximize recovery of loans; files or assists legal counsel with obtaining Reaffirmation Agreements to protect Credit Union collateralized loans. Maintains files and performs file maintenance in tracking software of bankrupt loans/shares/members.
Works with collections agencies to cure or maximize amount of post charge-off recoveries on loans exceeding legal statute.
Reviews Deceased accounts for potential right of offset and/or to file probate claims.
Acts as backup for the Collection Officers, ODP Officer and department administrative staff.
Assists team members to maximize recovery of repossessions, foreclosures, and charged off loans and shares.
Makes collection efforts in accordance with FDCPA and California’s Rosenthal Fair Debt Collection Practices Act.
Regularly attends and participates in in-house training.
Performs duties as assigned by management and may be assigned to work at any location.
QUALIFICATIONS
The qualifications listed below are representative of the knowledge, skill and/or ability required to perform the essential functions of this position.
Education and Experience
High School diploma or equivalent with a minimum of two years of experience in Collections.
Certificates, Licenses and Registrations
None.
Knowledge
Credit Union products, services, programs, and promotions.
Experience with computer systems and software.
Working knowledge of bankruptcy rules and laws.
Working knowledge of the litigation processes.
Working knowledge of probate and estate claims.
("Working knowledge" refers to a basic understanding of a subject, enough to perform simple tasks and navigate common situations, while "functional knowledge" means having the practical skills to apply knowledge effectively in a specific context, and "proficient knowledge" indicates a high level of competency where one can perform complex tasks independently and with a high degree of accuracy)
Other Skills and Abilities
Performs duties accurately and efficiently, even with frequent interruptions.
Operates a variety of office equipment and machines.
Travels, attends, and participates in meetings, seminars, and conferences held before and after normal business hours that may require unaccompanied long-distance travel and overnight lodging.
Ability to work a variety of hours, including evenings and weekends.
