Collections Specialist

Pay Range: $24.63 - $29.58 per hour, based on experience

Remote Eligible: Hybrid

We offer a pay-for-performance compensation program including bonuses for all employees and a competitive benefits package. See https://www.cuofco.org/careers for a high-level overview of our benefits package and bonus offerings.

Under the direction of the Member Solutions Leadership, this position is responsible for repossession, collections, and liquidation of assets. Responsible for communication with external recovery companies in all states, vehicle auctions, insurance companies, dealerships, and other vendors. Counsel's members whose loan accounts are past due or loans approaching repossession status or are in repossession status. Determines collectability and risk exposure to the credit union and advises management. This position is responsible for interfacing with members and must be knowledgeable in most areas of the credit union operations and assisting members with a full range of services and transactions as well as supporting various functions for repossession.

ESSENTIAL DUTIES AND RESPONSIBILITIES (includes the following). May perform other duties as requested or assigned.

• Handles incoming member phone calls related to repossession, bankruptcy, and deceased matters while providing excellent customer service.
• Works with external recovery companies in all states to authorize and assign repossession of collateral.
• Possesses strong communication skills required to communicate with disgruntled or uncooperative members after repossession. Works to prevent repossession by providing financial counseling for members providing resolution to financial conditions. Communicates with members (on the telephone or in writing) to coordinate payment schedules. Arranges for payments and enters information into collection notes according to Collection Policy and Guidelines.
• Reviews voluntary surrender vehicle requests to assess cost-effectiveness and coordinates assignments with repossession agents and members.
• Prepares legal documents related to repossessions.
• Collaborates with dealerships and external partners to follow up on refunds owed to the credit union for canceled vehicle warranties and gap policies.
• Knowledgeable in casualty insurance processes and claim filing, both collateral protection and lien holder.
• Experienced in dealing with police departments and legal authorities involved with impound processes and release of collateral used as evidence in legal cases.
• Processes repossession titles, completing repossession affidavits, and sending completed paperwork to auctions.
• Assigns repossessed auto loans to outside agency for collection.
• Processes monthly recovery payments from vendors and auctions and update's account records accordingly.
• Manages incoming impound notices and coordinates with impound lots to ensure timely resolution of collateral issues.
• Assist with garnishments, liens, and levies served against member accounts by analyzing documents for legal validity, performing account analysis to determine appropriate response, and completing legal documents in response. Processes related account transactions to ensure compliance. Notify members of legal action and provide related member service
• Provides backup support to the recovery specialist for tasks based on workload volume and time off.
• Provides excellent service by demonstrating courtesy and personal concern for members and co-workers needs and follow up to ensure those needs are met. Exhibits support for the organization's goals, values, initiatives, and cost control.
• Obtains updated information on accounts and enters information on system, research account history for discrepancies. Confers with personnel in other departments and branches to provide member service.
• Assists leadership in compiling and researching information for organizational initiatives and takes on projects as requested.
• Adheres to all Federal and State laws and regulations applicable to the credit union, including the Bank Secrecy Act, OFAC, FACT Act, the US Bankruptcy Code, and the Fair Credit Reporting Act.
• Responsible for compliance with the Fair and Accurate Credit Transaction Act (FACTA), the Bank Secrecy Act (BSA) and the Anti Money Laundering Act, including monitoring for such illegal activity as it applies to this position.

EDUCATION AND EXPERIENCE

High school diploma or general education degree (GED); or one-year related experience and/or training; or equivalent combination of education and experience.

OTHER SKILLS AND ABILITIES

Understanding of Credit Union loan products and policies. Familiar with default and enforcement clauses. Familiar with deposit programs, account ownership, and casualty insurance. Knowledge of collection procedures and related laws and regulations. Ability to evaluate different types of critical collection problems and react with a high degree of judgment. knowledge of laws concerning credit extension and collection practices. Ability to apply verbal and interpersonal skills that develop member confidence, respect and trust in Credit Union of Colorado and develop cooperative relationships with all levels of people throughout the organization.

Knowledge of personal computer operations, with an emphasis in Microsoft products, including Microsoft Excel and Word. Knowledge of Credit Union computer system in order to input and set up, new loans, file maintenance, transfers and all related transactions.

PHYSICAL DEMANDS

While performing the duties of this job, the employee is typically required to sit for long periods. The employee continually is required to talk or hear. The employee is occasionally required to stand, walk, stoop and reach with hands and arms. The employee will occasionally lift and/or move up to [10] pounds. Specific vision abilities required by this job include close vision and the ability to adjust focus. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions. [Limited travel required to visit CU locations as needed.]

MEMBER FOCUSED

Creates trust by building relationships and actively discovers the right solutions for Members and peers; understands that the credit union exists as a result of Member trust and loyalty in the organization and employees; is passionate and dedicated to meeting the expectations and requirements of internal and external Members.

COOPERATION AND TEAMWORK

Relates well to all kinds of people; builds appropriate rapport; works harmoniously with others; uses and understands diplomacy and tact; encourages collaboration; seeks opinions; is candid with peers; values working relationships. Readily puts in extra effort to accomplish important tasks.

DECISION QUALITY

Understands the member's best interest is first; demonstrates decisions which are based on creating the best possible outcome for the member; makes decisions based on a mixture of analysis, wisdom, experience, and judgment; most recommendations and decisions turn out to be correct and accurate when judged over time; sought out by others for advice and solutions.

PROBLEM SOLVING

Uses rigorous logic and methods to solve difficult problems creating effective solutions; is resilient and will own the solution and the problem; can see hidden problems; is excellent at honest analysis; looks beyond the obvious and doesn't stop at the first answers.

ACTION ORIENTED

Pushes self and others to achieve the best possible results for the Member, organization and employees; proactively seeks out opportunities; raises hand, rather than waits to be asked; not fearful of acting with a minimum of planning; understands that it's OK to make a mistake (fail forward).

ADAPTABLE

Learns on the fly; is a relentless, versatile and an active learner; open to change; can learn new skills and knowledge; analyzes both successes and failures for opportunities to improve; understands that different situations and levels may call for different skills and approaches; works to deploy strengths; works on compensating for weaknesses and limits.

INNOVATION

A cultural mindset that supports new ideas, fosters experimentation and drives continuous improvement to deliver member value.

Combines and brings forward ideas in unique ways to make connections between disparate ideas; willingness to explore different lines of thought and suggestions and try new ideas through experimentation, views situations from multiple perspectives; brainstorms multiple approaches/solutions to benefit members.

Credit Union of Colorado is an equal opportunity employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex (including pregnancy, childbirth, or related medical conditions), sexual orientation, gender identity or expression, national origin, age, disability, genetic information, marital status, veteran status, or any other characteristic protected by applicable federal, state, or local laws.

Please note applicants can redact any information that identifies their age, birth date, or dates of schooling on either their resume or any additional materials provided.