Assess the risk of lending activity, offset risk by ensuring the recovery of funds using collection letters, calls and skip tracing to resolve delinquent accounts and mitigate losses in order to contribute to the financial soundness of UNFCU.
• Manages delinquency by monitoring 60- 200+ accounts daily to reduce delinquency and applies funds to delinquent accounts; determines need for repossession/foreclosure and makes appropriate recommendations to manager; utilizes online collection systems and adequately documents all collection efforts and telephone calls; removes limits and/or places blocks on Visas and Lines of Credit.
• Analyzes member account portfolios and prioritizes delinquent accounts; refers accounts to attorneys and monitors collection activity; monitors payroll allocations.
• Communicates with members to notify them of past due loan payments in order to control delinquencies.
• Makes arrangements to dispose of collateral as directed by management and UNFCU policies, and notifies members of their financial responsibilities related to the disposal process.
• Provides debt counseling and loan workouts to assist members in overcoming financial difficulties; negotiates and makes recommendations regarding loan workouts, deferments, and payment reductions; advises members on financial and debt management, instructs members on how to regain financial soundness while reducing debt and maintaining good credit history, and explains the implications of bankruptcy filing.
• Generate property valuations as needed; interact with PMI companies; initiate doorknocks when applicable; monitor the status of bankruptcy payments.
• Provides courteous and professional service to UNFCU staff and members, and responds to member inquiries within 24 hours; provides training to colleagues as needed.
• Reviews monthly delinquency reports with manager and makes recommendations regarding charge-offs; assists in the preparation of delinquent accounts for monthly delinquency reports and various other reports related to delinquency; and maintains records of all collection activity.
• Act as a back-up to colleagues in the department.
• Follow CFPB and Fannie Mae regulations and discuss with members as needed.
TYPE & AMOUNT OF EXPERIENCE:
• Bachelor’s degree and 4 years of collections experience in a financial institution collecting on Auto, Visa, LOC, HELOC and Mortgages
• Clear understanding of loss prevention and delinquency management
• Knowledge of applicable federal and state regulations and laws
• Proficiency in Microsoft Office
• Good negotiation skills and creativity in reducing losses
• Ability to organize work and set priorities
• Ability to manage relationships at all levels throughout the organization and with credit union membership
• Ability to interpret documents and make sound decisions within limits of authority
• Standard office conditions
In addition to any specific job requirements in connection with Bank Secrecy Act and/or OFAC (BSA), employee must (i) be aware of BSA matters commensurate with the position; (ii) report any suspicious activity to the manager or compliance department; and (iii) satisfactorily complete any required BSA training.