What are the responsibilities and job description for the Recovery Agent position at Oklahoma's Credit Union?
ABOUT US:
Oklahoma's Credit Union has been happy to help Oklahomans for over 60 years. From the beginning, OKCU has sought to keep people economically independent by helping them learn to save and borrow responsibly. We have over half of a billion dollars in assets and employ over 135 people. OKCU offers branch access at over 91 locations across Oklahoma and over 5,000 locations nationwide. We serve over 46,000 people who enjoy benefits such as low or no fees on services, higher rates on deposits, and low rates on home or auto loans.
At OKCU, we are happy to guide you through a comprehensive training program to find a career path that works for you. Experience a robust benefits package and have a little fun along the way.
ABOUT YOU:
You really care about helping people in your community. You are always thinking of ways to make your job or life easier. You are the kind of person who likes to be held accountable, you don't want to leave anyone hanging! You love helping people do more with their money. You enjoy a happy place to work.
Join a community that puts people first, not profits. Want to learn more about who we are and what we're about? Take a look at what's important to us and hopefully it's important to you, too.
VISIT:
- okcu.org
- facebook.com/OklahomasCU
- instagram.com/oklahomascreditunion
- linkedin.com/company/oklahomascu
- twitter.com/OklahomasCU
- youtube.com/user/MyOECU
This position is located at our South OKC Branch, 530 SW 119th St OKC, OK 73170.
ESSENTIAL FUNCTIONS:
- Contact delinquent charged off members and borrowers regarding their loans by phone, mail, email or text; take appropriate action to cure the full balance by payment plan, settlement or initiating legal action.
- Responsible for collection processes on delinquent accounts which may include automotive, unsecured, overdraft, credit cards, and mortgages.
- Manage and oversee the recovery process for delinquent accounts through the small claims court system.
- Prepare, file, and track small claims lawsuits in compliance with legal guidelines and credit union policies.
- Negotiate payment plans, settlements, and other recovery arrangements with members prior to court action, ensuring a compassionate and straightforward approach that aligns with our commitment to making things easy.
- Make outbound collections calls to members with delinquent accounts, as needed, to encourage repayment or discuss possible repayment options.
- Attend court hearings, represent the credit union, and work with legal counsel when necessary.
- Maintain accurate and up-to-date records of all recovery efforts, court filings, and communications with members.
- Collaborate with internal departments (such as the collections and legal teams) to resolve member disputes or inquiries related to delinquent accounts.
- Monitor and report on recovery performance and outcomes, providing recommendations to improve recovery processes and strategies.
- Assist with skip tracing efforts to locate members with delinquent accounts.
- Responsible for managing the third-party Collection process, agency performance, and agency relationships. Example Civil Judgement with Attorney
- Responsible for third party agency remittance reports, billing, affidavits, and research.
- Process and review Right of Offset to eligible member accounts.
- Follow policy and procedures related to Bank Secrecy Act (BSA), Anti-Money Laundering (AML), Customer Identification Program (CIP), and Fair Debt Collections Practices Act (FDCP), Unfair Deceptive or Abusive Acts or Practices (UDAAP) and Fair Credit Reporting Act (FCRA) daily to ensure compliance with current regulations.
- Maintain integrity and ethics in all actions and conversations with or regarding credit union members and their accounts; comply with privacy act directives.
- Update member credit reports accordingly with correct codes due to disputes, settlements, or accounts paid in full.
EDUCATION AND EXPERIENCE:
- High school diploma or equivalent.
- 3 or more years related work experience in post charge off collections or debt negotiation is preferred, though early-stage collections, legal assistant, or paralegal experience are also applicable for this role.
- Bi-lingual in English and Spanish is a plus.
SKILLS:
- Strong negotiation and conflict resolution skills
- Excellent communication (written and verbal) and interpersonal skills
- Ability to handle sensitive information confidentially and professionally
- Detail-oriented with strong organizational and multitasking abilities
- Proficient in Microsoft Office and collections software
- Familiarity with relevant laws, regulations, and court procedures (e.g. FDCPA, small claims court process)
BENEFITS FOR FULL-TIME EMPLOYEES:
- Employee medical coverage 90% paid by OKCU
- Employee dental, vision and life insurance paid by OKCU
- Tuition reimbursement program
BENEFITS FOR ALL ELIGIBLE EMPLOYEES:
- 401(k) contribution match of up to 3%, plus additional profit-sharing match of 3%
- Volunteer opportunities to serve the community
- Gym membership reimbursement
- Comprehensive training opportunities
- And much more
Oklahoma's Credit Union is an EEO/AAP employer.
