What are the responsibilities and job description for the Collections Specialist position at Valley Communities Credit Union?
Building lifelong relationships, one member at a time! Valley Communities Credit Union has been serving members for over 87 years. With our rich history, starting out in 1935, we served the employees of the Mosinee Paper Mill with a tiny office in their punch house. Growing continually over the years, we currently serve over 16,000 members in five different Central Wisconsin communities.
Collections Specialist -
As a Lending Support Specialist, your primary responsibilities are to support all functions of lending operations:
- Responsible for documenting collections of delinquent loans and accounts, including but not limited to: soliciting payment arrangements on delinquent loans, determine reason for delinquency, taking appropriate action to resolve the account, counseling members concerning their financial obligations and offering suggestions and alternatives.
- Ensures proper handling of all collection activity (includes but not limited to CPI, Forced placed insurance, deceased accounts, escrow, and delinquent taxes. Prepares standard and non-standard letters to borrowers. Engages in member outreach and notification on past due accounts. Ensures documentation is legal, accurate, and timely regarding all contacts with the member.
- Works with other departments within the Credit Union to resolve delinquencies and prevent future problems. Identify risk, account abuse, and negative accounts, notifies management in a timely manner and recommends additional actions as necessary.
- Follow, maintain, and create procedures and guides to remain compliant with applicable collection laws and regulations.
- Understand and ensure the accuracy and legalities of bankruptcies, repossession, foreclosure and charge off accounts.
- Attends court hearings for various legal files. Ability to organize and complete legal paper work in a timely and accurate manner. Manage the cost of acquiring, storing and disposing of the collateral. Maximize the return on sold collateral. Maintain the credit union's charged-off and delinquent accounts at or below acceptable levels and report to the board of directors.
- Completes a financial and situational analysis of circumstances to determine if the borrower qualifies for workout options. Monitors progress of accounts in foreclosure and interacts with attorneys to ensure appropriate timelines are met. Prepares in-house documents necessary for workouts, loan modifications, deferrals, deed in lieu of foreclosure and other programs.
We are seeking a candidate with 2-5 years of of collection and repossession experience in a Credit Union or Bank environment. The ideal candidate will have the ability to build relationships and rapport with members and staff.
Consistent with our rich history, we will continue to identify and place talented people into roles that best fit their background and areas of strength. Valley Communities Credit Union is an Equal Employment Opportunity.
