Under the direction of the Assistant Vice President - Payment Solutions, responsible for performing a variety of activities regarding delinquent accounts. This position requires vast knowledge of collection and bankruptcy laws and practices, and knowledge of consumer and mortgage loan documents. Find more at: https://www.summitcreditunion.com/about-summit/careers
Essential Functions
1. Collection of delinquent loans, credit card or negative share accounts as assigned.
1. Review accounts in an effort to determine cause of delinquency.
2. Make arrangements with member to resolve delinquency and continue follow-up contact as needed.
3. Direct the posting of payments received to delinquent accounts.
4. Process consumer credit counseling requests and maintain monitoring of said accounts to ensure timely payments, including the posting of payments.
5. Evaluate requests for loan extensions, prepare required documentation and adjust accordingly.
6. May make a recommendation to the member regarding possible rewrite of their loan.
7. Recommend delinquent accounts for legal action or charge-off.
2. Bankruptcy:
1. Apprise legal collection to any member that has filed bankruptcy.
3. Use knowledge of Payment Solutions operations to provide assistance and guidance to
internal and branch staff.
1. Provide background information to lenders upon request.
2. Assist MSR’s with restrictions and overrides.
3. Available to answer member queries regarding disputes on loans (liens releases, collateral, liability issues).
4. Related Duties.
1. Maintain accurate and timely documentation on individual member accounts.
2. Provide collection assistance to other departments.
3. Other related duties as assigned.
5. Understand and is accountable for executing all job functions in a way that is consistent with all requirements of BSA, OFAC and the USA Patriot Act/Customer Identification Act (CIP).
Note: Failure to comply with requirements may be subject to strong disciplinary action, up to and including termination by the credit union, as well as, civil and criminal penalties.
Additional Functions
1. Other duties as assigned by manager. Your primary duties are set forth in your job description, however, there may be times, at the discretion of management and company needs, where you may work in a different position or area with duties that correspond to the position and business need at that time.
Job Specifications
1. High school diploma or equivalent and post secondary business related course work.
2. Two years’ experience in a collections environment, preferably a retail financial institution and experience in a high volume customer service environment.
3. Have or be able to attain a Nationwide Mortgage Licensing System (NMLS) number.
4. Professional, well-developed interpersonal skills essential for projecting a positive image as representative of the Credit Union.
5. Work requires knowledge and understanding of consumer collections compliance and regulation as it relates to best practices and handling of collection matters on delinquent accounts including, but not limited to the following regulations: Wisconsin consumer act, Telephone Consumer Protection Act (TCPA), Fair Credit Reporting Act (FCRA), Fair and Accurate Credit Transaction Act (FACTA)
6. Work requires knowledge of Microsoft Office Suite.
7. Mathematical skills required.
8. Understanding of the role and effect of collections in a financial institution.
9. Effective oral and written communication skills.
10. Ability to use effective problem solving to make risk-based decisions.
11. Ability to work independently with minimal supervision
Perks:
1. Remote capability
2. Excellent health insurance
3. 401K with match
4. Student loan payback
5. Paid volunteer time
6. Onsite gym
7. and more
At Summit we cover more ground, give more back and have more fun. Come be a part of something bigger!
At Summit Credit Union, we are committed to providing Equal Employment Opportunity regardless of race, color, religion, sex, age, national origin, disability, military and veteran status, sexual orientation, gender identity, marital status or any other characteristic protected by local, state, or federal law. We embrace diversity and believe that inclusion is critical to our success as a credit union. Different makes us better. Employment decisions are made based on qualifications, merit and business need.
Find more at: https://www.summitcreditunion.com/about-summit/careers
