What are the responsibilities and job description for the Collections Account Specialist position at Eagle Louisiana FCU?
Eagle Federal Credit Union has a position open for a Collections Account Specialist. The Collections Account specialist is responsible for optimizing collections on delinquent accounts while balancing the goodwill of members with the overall business interests of the credit union.
Essential Duties and Responsibilities
- Monitor loan payments for late and/or delinquency status.
- Ensure professional interface with members.
- Contact delinquent members by telephone, mail or other acceptable means to determine the reasons for delinquency and assist them in developing plans to bring accounts to a current status.
- Develop workout plans and collect on overdue accounts whenever possible.
- Review assigned accounts to determine if collections methods have been effective.
- Ensure that loan collection actions on assigned accounts are appropriate and timely, and that established policies and procedures are observed
- Recommend to Collections Manager when to negotiate and settle balances and when to initiate foreclosure, repossession or other legal/collection proceedings.
- Secure credit bureau reports. Skip trace on loan accounts. Maintain accurate data for repossessions, bankruptcy, legal action, charge-offs, etc.
- Serve as liaison with attorneys or agencies in handling repossessions, bankruptcy or other legal actions
- Assist Collection Manager in sale or disposition of repossessed or reclaimed collateral in accordance with credit union policy.
- Prepare and process all correspondence, notices, reports, claims, etc. relating to delinquent or collection department accounts. Maintain a detailed written record of all communications made.
- Input complete, thorough and accurate data into the credit union’s collection system with appropriate follow-up dates and actions. Generate reports as needed.
- Maintain knowledge of new account documents, lending documents, disclosures and procedures as they relate to collections.
- Keep abreast of all applicable laws, regulations, requirements, policies and procedures regarding collections and cure procedures
- Keep abreast of new collection methods and make recommendations to management regarding innovative collection practices.
Qualifications
- 2 years collection experience preferred.
- Knowledge of collection procedures and related laws and regulations.
- Understanding of Credit Union loan products and policies. Familiar with default and enforcement clauses.
- Familiar with deposit programs, account ownership and casualty insurance
- Basic understanding of the US Bankruptcy Code
- Understanding of Small Claims Court system.
- Ability to diffuse escalated situations.
- Handles difficult and stressful situations with professional composure.
- High School diploma or equivalent.
Due to the high number of inquiries, we receive for our employment opportunities, the only applicants that will be considered will be those who meet the minimum requirements.
Background and credit checks will be completed on final candidates.
Job Type: Full-time
Pay: $17.00 - $20.00 per hour
Expected hours: 40 per week
Benefits:
- 401(k)
- Dental insurance
- Health insurance
- Life insurance
- Paid time off
- Vision insurance
Experience:
- Collections: 2 years (Preferred)
- Credit Union / Banking: 2 years (Preferred)
Ability to Relocate:
- Baton Rouge, LA 70808: Relocate before starting work (Required)
Work Location: In person
Salary : $17 - $20