LOAN ADJUSTMENT SPECIALIST

SUMMARY: Responsible for all aspects of collection once an account (loan) is assigned. Contact member to determine the reason for the past-due condition of the loan and develop a plan to bring the loan up to date. Report to supervisor recommendations on action that should be taken if loan collateral is in jeopardy.

REPORTS TO: Loan Adjustment Manager

DEPARTMENT: Financial Services

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Duties and Responsibilities:

• Counsel members in person or by telephone regarding payment notices and delinquent accounts.
• Responsible for follow-up on all loan and –Credit Card accounts that are delinquent. Utilize collection queue system to maintain a detailed record of all communications made regarding the delinquency.
• Based on individual member circumstances (i.e., illness, reduced income or other temporary setbacks) prepare and submit loan extensions for approval.
• Responsible for mailing of delinquent notices, ensuring that credit union errors are detected promptly and corrected and that the member has a complete explanation of the loan's status.
• Collect on all returned checks on assigned accounts and as directed by supervisor.
• Escalate accounts to next level of authority when appropriate with recommendation for further collection action; i.e. repossession, small claims, etc.
• Responsible for ensuring credit union honors automatic stay when advised member has filed bankruptcy.
• Perform skip-tracing duties as required and directed.
• When appropriate refer members to CCC and work with CCC representative to reduce payments and interest rates accordingly. Follow-up on CCC accounts to ensure payments are received.
• Responsible for all aspects of credit life and disability claims on assigned accounts.
• Advise supervisor when accounts need to be terminated and ensure closure when approved.
• Coordinate and maintain auto transfers (Credit Card) from PRD.
• Cross-promote credit union services or products when appropriate.
• Achieve scorecard goals as assigned.
• Complete mandatory BSA training annually.
• Assist as needed with other collection duties and perform any special projects or duties as assigned by supervisor.

REQUIRED KNOWLEDGE:

Requires a working knowledge and understanding of credit union loan policies and procedures as well as state and federal laws and regulations pertaining to collections. This position also requires strong organizational and excellent communication skills and the ability to work effectively with staff and members and to contribute to a cohesive work environment. Requires working flexible hours as needed.

EDUCATION AND EXPERIENCE:

Requires high school education or G.E.D. equivalency certificate. In addition to education, six months to two years experience in handling consumer loan collections, preferably in a financial environment. A general understanding of credit union loan policies and procedures is also needed.

Revised 10/2019

Range reclassified 10/14