What are the responsibilities and job description for the Member Care Team 4 - Asset Recovery Specialist position at Golden 1 Credit Union?
Our headquarters in Sacramento contains the core functions that support our mission to deliver financial solutions with value, convenience and exceptional service to our members.
GENERAL DESCRIPTION
Collaborate with third party collection agency vendors to optimize the recovery of outstanding balances on non-performing asset accounts. Process and monitor third party collection agency requests while ensuring compliance with current regulations, and maintaining adherence to industry’s standard best practices as well as the Credit Union’s core values.
TASKS, DUTIES, FUNCTIONS
1. Assign non-performing asset accounts to third party collection agencies using established criteria.
2. Recall non-performing asset accounts from third party collection agencies due to inactivity, litigation and bankruptcy.
3. Process suit authorizations, negotiation offers, verifications of debt (VODs), complaints and disputes in a timely manner.
4. Assist with the postings of remittances from third party collection agencies.
5. Perform research for management and third party collection agencies to assist in the response to complaints, disputes and balance updates.
6. Review for accuracy and submit monthly invoices for payment processing.
7. Address payment discrepancies with third party collection agencies – send follow-up requests to correct billing.
8. Assist management with the analyses – utilize industry knowledge and critical thinking to provide recommendations to enhance third party collection agency performance.
9. Participate in monthly vendor compliance and production meetings.
10. Conduct periodic reviews of third party collection agency processes and procedures to ensure consistency with the industry’s standard best practices, the Credit Union’s core values and regulatory compliance.
11. Possess a high level of knowledge of the Credit Union’s products and services, and areas of specialty in Member Care such as negative shares, repossessions, suits, foreclosures, bankruptcies, reinstatement and redemption, charged-off accounts, and expulsions.
12. Monitor the compliance of Credit Union policies and Fair Debt Collection Act Practices.
13. Ability to thoroughly review and document accounts with appropriate notation.
14. Develop and maintain positive relations with Credit Union members, departments, and branches discussing sensitive personal financial circumstances in a tactful manner.
15. Research and respond to inquiries from members and other Credit Union departments and branches on delinquent loans and account problems.
16. Support Member Care and Credit Union goals by meeting expected performance standards.
17. Assist other areas of Member Care as needed/when available.
18. Assist Manager/Supervisor with special tasks or projects as needed.
19. Other duties as assigned.
PHYSICAL SKILLS, ABILITIES, AND EXERTION UTILIZED IN THE PERFORMANCE OF THESE TASKS
1. Effective oral and written communication skills required to interact with members and provide constructive follow-up on delinquent accounts.
2. Must possess sufficient manual dexterity to skillfully operate an on-line computer terminal and other standard office equipment, such as financial calculators, personal computer, facsimile machine and telephone.
ORGANIZATIONAL CONTACTS & RELATIONSHIPS
1. EDUCATION: Successful completion of high school curriculum is required.
EXPERIENCE: Three or more years performing collection duties within The Golden 1 Credit Union, as well as experience in areas dealing with VISA, Negative Shares, and Loans. KNOWLEDGE/SKILLS: Strong verbal and written communication skills, facsimile machine, ten key, microfiche, electronic banking equipment, VISA terminal, Credit Union and collection rules, regulations, policies, and procedures.
PHYSICAL REQUIREMENTS
1. Prolonged sitting throughout the workday with occasional mobility required.
2. Corrected vision within the normal range.
3. Hearing within normal range. A device to enhance hearing will be provided if needed.
4. Occasional movements throughout the department daily to interact with staff, accomplish tasks, etc.
5. Minimal local travel to attend court appearances by car or public conveyance.
6. High volume of telephone communication throughout the workday.
LICENSES/CERTIFICATIONS: None
THIS JOB DESCRIPTION IN NO WAY STATES OR IMPLIES THAT THESE ARE THE ONLY DUTIES TO BE PERFORMED BY THIS EMPLOYEE. HE OR SHE WILL BE REQUIRED TO FOLLOW OTHER INSTRUCTIONS AND TO PERFORM OTHER DUTIES REQUESTED BY HIS OR HER SUPERVISOR THAT ARE WITHIN HIS / HER KNOWLEDGE, SKILL AND ABILITY AS WELL AS HIS / HER MENTAL AND PHYSICAL ABILITIES.
We appreciate your interest in joining the Golden 1 team! If you are selected to participate in the interview process we will contact you.
GENERAL DESCRIPTION
Collaborate with third party collection agency vendors to optimize the recovery of outstanding balances on non-performing asset accounts. Process and monitor third party collection agency requests while ensuring compliance with current regulations, and maintaining adherence to industry’s standard best practices as well as the Credit Union’s core values.
TASKS, DUTIES, FUNCTIONS
1. Assign non-performing asset accounts to third party collection agencies using established criteria.
2. Recall non-performing asset accounts from third party collection agencies due to inactivity, litigation and bankruptcy.
3. Process suit authorizations, negotiation offers, verifications of debt (VODs), complaints and disputes in a timely manner.
4. Assist with the postings of remittances from third party collection agencies.
5. Perform research for management and third party collection agencies to assist in the response to complaints, disputes and balance updates.
6. Review for accuracy and submit monthly invoices for payment processing.
7. Address payment discrepancies with third party collection agencies – send follow-up requests to correct billing.
8. Assist management with the analyses – utilize industry knowledge and critical thinking to provide recommendations to enhance third party collection agency performance.
9. Participate in monthly vendor compliance and production meetings.
10. Conduct periodic reviews of third party collection agency processes and procedures to ensure consistency with the industry’s standard best practices, the Credit Union’s core values and regulatory compliance.
11. Possess a high level of knowledge of the Credit Union’s products and services, and areas of specialty in Member Care such as negative shares, repossessions, suits, foreclosures, bankruptcies, reinstatement and redemption, charged-off accounts, and expulsions.
12. Monitor the compliance of Credit Union policies and Fair Debt Collection Act Practices.
13. Ability to thoroughly review and document accounts with appropriate notation.
14. Develop and maintain positive relations with Credit Union members, departments, and branches discussing sensitive personal financial circumstances in a tactful manner.
15. Research and respond to inquiries from members and other Credit Union departments and branches on delinquent loans and account problems.
16. Support Member Care and Credit Union goals by meeting expected performance standards.
17. Assist other areas of Member Care as needed/when available.
18. Assist Manager/Supervisor with special tasks or projects as needed.
19. Other duties as assigned.
PHYSICAL SKILLS, ABILITIES, AND EXERTION UTILIZED IN THE PERFORMANCE OF THESE TASKS
1. Effective oral and written communication skills required to interact with members and provide constructive follow-up on delinquent accounts.
2. Must possess sufficient manual dexterity to skillfully operate an on-line computer terminal and other standard office equipment, such as financial calculators, personal computer, facsimile machine and telephone.
ORGANIZATIONAL CONTACTS & RELATIONSHIPS
- INTERNAL: Branch management, staff, Payroll Deduction, Electronic Services, Centralized Lending, Records Management, and Compliance and Risk Management.
- EXTERNAL: Members, law enforcement agencies, judicial departments, peer collectors, or groups that will result in resolution of delinquent accounts.
1. EDUCATION: Successful completion of high school curriculum is required.
EXPERIENCE: Three or more years performing collection duties within The Golden 1 Credit Union, as well as experience in areas dealing with VISA, Negative Shares, and Loans. KNOWLEDGE/SKILLS: Strong verbal and written communication skills, facsimile machine, ten key, microfiche, electronic banking equipment, VISA terminal, Credit Union and collection rules, regulations, policies, and procedures.
PHYSICAL REQUIREMENTS
1. Prolonged sitting throughout the workday with occasional mobility required.
2. Corrected vision within the normal range.
3. Hearing within normal range. A device to enhance hearing will be provided if needed.
4. Occasional movements throughout the department daily to interact with staff, accomplish tasks, etc.
5. Minimal local travel to attend court appearances by car or public conveyance.
6. High volume of telephone communication throughout the workday.
LICENSES/CERTIFICATIONS: None
THIS JOB DESCRIPTION IN NO WAY STATES OR IMPLIES THAT THESE ARE THE ONLY DUTIES TO BE PERFORMED BY THIS EMPLOYEE. HE OR SHE WILL BE REQUIRED TO FOLLOW OTHER INSTRUCTIONS AND TO PERFORM OTHER DUTIES REQUESTED BY HIS OR HER SUPERVISOR THAT ARE WITHIN HIS / HER KNOWLEDGE, SKILL AND ABILITY AS WELL AS HIS / HER MENTAL AND PHYSICAL ABILITIES.
We appreciate your interest in joining the Golden 1 team! If you are selected to participate in the interview process we will contact you.
