What are the responsibilities and job description for the P1 Collections Specialist - Bilingual position at Truliant Federal Credit Union?

Truliant’s mission is to improve lives by putting our members first, providing great service and straightforward financial solutions. Our core values of Member Focus, Service, Guidance, Relationships, and Community define how we interact with members to fulfill our mission of improving lives and providing a foundation on which we conduct ourselves.

Our Promise to Our Teammates : Truliant strives to provide all teammates with an enjoyable place to work where they feel valued, empowered and rewarded for all that they do.

Spanish speaking candidates are encouraged to apply.

Purpose of the Job

The Collections Specialist is responsible for collecting unearned premiums and unearned commissions from insurance carriers, intermediary brokers, insurance agents and our borrowers.

Essential Functions and Responsibilities

Manages an assigned portfolio of delinquent or defaulted premium finance loans to ensure the timely recovery from the appropriate party.
Facilitates prompt communications and correspondences with obligors to address and resolve outstanding balances or payments due.
Works closely with all parties, such as carriers, agents, brokers and borrowers to reconcile and recover credits due and return premium.
Reviews and validates all return premium amounts, confirm accuracy and compliance with all relevant policy provisions and procedures.
Collaborates internally, to investigate and resolve any discrepancies or issues affecting the return premium collection process.
Utilizes tools to accurately record collection activities, update account statuses, and maintain comprehensive records of all communications and transactions between P1 and counter parties.
Understands state statutes and stay current with updates in industry regulations and best practices related to return premiums and collections to ensure compliance and efficiency.

Other Duties and Responsibilities

Assists with other tasks and projects as assigned.

Knowledge, Skills, and Abilities

Must have excellent communication skills in English, both verbal and written

Must have basic knowledge of Microsoft Office

Must have ability to understand all business processes within the credit union

Must be resourceful and well organized, with strong attention to detail

Good reasoning abilities and sound judgment required

Must be able to work in a general office environment

Must be flexible and able to shift resources and priorities as required

Must have strong knowledge of premium finance and return premium collection processes, with the ability to navigate complex insurance policies and contracts.

Must have exceptional negotiation, communication, and interpersonal skills to effectively collaborate with carriers, agents, and brokers.

Must be detail-oriented with excellent organizational abilities to manage multiple accounts and deadlines simultaneously.

Must have the ability to work independently and as part of a team in a fast-paced and deadline-driven environment.

Should become knowledgeable of P1 Finance’s best practices, policies, and procedures while demonstrating a strong commitment to providing excellent service to Truliant’s members.

Physical Requirements

Occasional standing, walking, bending, and stooping required

Must be able to sit at a desk for long periods of time and use a computer

Must be able to moderately lift or move up to 5 pounds and occasionally lift or move up to 10 pounds

Education and Background

Proven experience in premium finance collections, accounts receivable, or a similar finance-related role required

Familiarity with applicable laws and regulations related to collections and premium finance (e.g., Fair Debt Collection Practices Act) is preferred

Experience in collections, insurance, or accounting is preferred

Spanish speaking skills preferred

If you have a passion for member service and would like to invest in a meaningful career with opportunity for growth, we encourage you to apply to Truliant!

As a member of the Truliant family, you will enjoy the following full time benefits :

No-cost employee Medical, dental, vision coverage

Prescription benefits (including mail order)

Paid holidays and Paid Time Off (PTO)

401(k) plan with contribution matching

Paid community involvement volunteers hours

Paid group life Insurance

Teammate loan discounts

Tuition reimbursement

Short and long-term disability

Health & Wellness program

Teledoc (physician video conferencing)

Onsite fitness facilities or health club reimbursement

Employee Assistance Program (EAP)

Medical flexible spending account

Dependent care flexible spending account

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P1 Collections Specialist - Bilingual

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