What are the responsibilities and job description for the Senior Collector - ON SITE position at Tremont Credit Union?
Job Summary
Under the direction of the VP Consumer Lending, collect past-due home and consumer loan payments. Ensure the compliance of collections practices with state and federal laws. Work with outside counsel and third-party collection agencies in handling foreclosures, repossessions, and bankruptcies. All responsibilities are to be performed in compliance with TCU standard operating procedures, TCU policies, applicable state and Federal regulations and applicable state and federal law, as well as according to TCU's Core Values and Performance Standards.
Essential Responsibilities
Contact TCU members with delinquent loans to discuss payment obligations and available options for resolving the delinquent loan. Enforce documented and negotiated payment plans
Prepare and send written correspondence to members regarding delinquent loans, including, but not limited to, delinquent notices, repossession, and foreclosure letters up to 90-days delinquent. Negotiate payment arrangements in consultation with the VP Consumer Lending.
Coordinate work with approved attorneys on foreclosure cases and support them with timely and accurate information, and coordinate with recovery vendors for repossession cases; keeping the VP Consumer Lending apprised at all times.
Record actions, conversations, and recommendations in the members' collection record to ensure accurate and adequate information is always maintained.
Maintain current and accurate reporting of collections activities, product line delinquencies, and provide routine and special management reporting.
Update/code members' account in to alert appropriate departments about loan and collection issues.
Respond to members' credit report disputes on e-Oscar.
Correspond with members who are seeking a loan modification. Gather supporting documentation and hold loan modification reviews with Collections Manager.
Notify co-signers regarding status of delinquent accounts.
Maintain the files, both paper and electronic, of delinquent members, including copies of legal documents and correspondence.
Comply with all collections policies and procedures in compliance with federal and state laws and regulatory requirements.
Timely completion of own performance evaluation.
Other duties related to TCU's operations or mission as assigned.
Required Experience & Skills
- At least five years of experience working in loan collections in consumer and residential financial services.
- Proficiency with Microsoft Office, or software, applications, and SaaS currently used by TCU and assigned to this position
- Can perform responsibilities accurately and timely with moderate and reasonable supervision, with minimal reminders and corrections
- Evident habits of organized workspace and materials, and detail-orientation
- Clear and effective written and oral communication
- Critical thinking to evaluate sources of information and draw conclusions
