Consumer Collections Specialist

SUMMARY

The Consumer Collections Specialist is responsible for managing and resolving delinquent consumer accounts, maintaining customer relationships, and working to recover outstanding debts. This position requires strong communication, problem-solving, and negotiation skills, as well as an understanding of consumer finance regulations and the ability to adhere to company policies.

Assures compliance with all Bank policies and procedures, as well as all applicable state and federal banking regulations.

ESSENTIAL DUTIES

• Monitor and manage overdue accounts to ensure timely collections for consumer loans.
• Perform proactive outreach (including phone, email, or written correspondence) to customers with past-due accounts, identifying the reasons for non-payment and negotiating payment solutions.
• Handle customer inquiries and provide clear, accurate information on account status and payment options.
• Develop and offer customized payment plans based on the customer’s financial situation while ensuring timely recovery of owed funds and adhering to bank policies and regulatory requirements.
• Keep detailed and accurate records of all customer interactions, collection efforts, payment arrangements, and outcomes within the bank’s collections system.
• Review and analyze customer accounts to identify potential payment issues or trends. Use critical thinking skills to determine the best course of action for recovery.
• Ensure all collections practices comply with applicable federal and state laws and other relevant banking regulations.
• Work closely with other departments such as risk management, customer service, and legal to resolve disputes, address concerns, and maintain account integrity.
• Recommend and process charge offs, risk rating adjustments and accrual status changes as required, and refer accounts as necessary to outside collection firms and/or legal counsel.
• Generate reports on collections activities and account statuses.
• Track personal performance against departmental goals and strive to meet monthly, quarterly, and annual targets.
• Offer guidance and support to customers to help them better understand their obligations and avoid future delinquencies.
• Treats people with respect, keeps commitments, Inspires the trust of others, works ethically and with integrity, upholds organizational values, and accepts responsibility for own actions.
• Demonstrates knowledge of and adherence to EEO policy, shows respect and sensitivity for cultural differences, educates others on the value of diversity, promotes working environment free of harassment of any type, and builds a diverse workforce and supports affirmative action.
• Follows policies and procedures, completes administrative tasks correctly and on time, supports the Bank’s goals and values, and benefits the Bank through outside activities.
• Performs the position safely, without endangering the health or safety to themselves or others and will be expected to report potentially unsafe conditions. The employee shall comply with occupational safety and health standards and all rules, regulations and orders issued pursuant to the OSHA Act of 1970, which are applicable to one’s own actions and conduct.

SECONDARY DUTIES

The position of Consumer Collections Specialist performs duties specific to the position and other functions as assigned.

SUPERVISOR RESPONSIBILITY

The position of Consumer Collections Specialist is not responsible for the supervision of any employee(s).

ENVIRONMENT AND PHYSICAL ACTIVITY

• The incumbent is in a non-confined office-type setting in which he or she is free to move about at will. It may include some minor annoyances such as noise, odors, drafts, etc.
• The incumbent in the course of performing this position spends time writing, typing, speaking, listening, lifting (up to 10-20 pounds), driving, carrying, seeing (such as close, color and peripheral vision, depth perception and adjusted focus), sitting, pulling, walking, standing, squatting, kneeling and reaching.
• The incumbent for this position may operate any or all of the following: telephone, cellular telephone, copy and fax machines, adding machine (calculator), check protector, encoder, money counter, credit card terminal, personal computer and related printers.
• The work environment characteristics described here are representative of those an employee encounters while performing the essential functions of this job. The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job.
• Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

MENTAL DEMANDS

The incumbent in this position must be able to accommodate to reading documents or instruments, detailed work, problem solving, customer contact, reasoning, math, language, presentations, verbal and written communication, analytical reasoning, stress, multiple concurrent tasks, and constant interruptions.