What are the responsibilities and job description for the Collections Specialist position at CORNERSTONE COMMUNITY FINANCIAL CREDIT UNION?
Job Description
Job Description
Our Opportunity :
The Collections Specialist works with members to provide solutions to mitigate losses for the CU and collects on all delinquent accounts including consumer, business, mortgage, VISA, courtesy pay, and other loan products, as well as processing garnishments, levies, and other actions to recover on past due accounts in accordance with CCF's Mission, Vision, Goals and Service Promises.
What You'll Do in This Role :
- Initiates contact with members through phone calls, emails, letters, texts, and messages within all digital channels, to urgently pursue and secure prompt recovery of all monies owed to the Credit Union that have been classified as being in default in accordance with CCF's Mission, Vision, Goals and Service Promises.
- Manages and maintains weekly and monthly collection queues ensuring appropriate penetration of the queues are achieved based upon the credit unions goals.
- Researches and imposes resolution options including, but not limited to payroll deductions, skip tracing, and lien placements to ensure the greatest amount of repayment and minimize losses to the CU.
- Processes legal request packets for lawsuits, repossessions, and bankruptcies to be filed and follows-through on all stages for alpha queues or prepares collection agency referral packets for 3rd party agency and follows-through. Includes, but not limited to gathering facts, negotiating redemptions, processing notice of sales, assigning repossessions to agents and auctions, and processing referral documentation to attorneys. Posts judgments and reaffirmations when received from the attorney.
- Initiates payment posting and filing of disability, GAP, CPI, total loss, life claims, or other filings necessary to recover funds.
- Gathers, negotiates, and presents case facts to Management for approval. Subsequently processes approved member requests for loan workouts / reduced payments / alternative payment arrangements related to income reduction or financial stress.
- Must comply with all company policies and procedures, applicable laws and regulations, including but not limited to, the Bank Secrecy Act, the Patriot Act, and the Office of Foreign Assets Control.
What You'll Bring To CCF :
Work Location : This position is based in Auburn Hills Michigan. Hybrid working arrangements are available following 3-6 months of successful employment.
EOE : CCF is committed to equal opportunity and complies with EEOC rules and regulations.
Work Hours : Monday - Friday 8 : 30AM to 5 : 30PM; up to two late evenings (6 : 30PM) per week.
Other hours as assigned.
