Please note this is a Hybrid-Remote position and will require the selected candidate to work in the office 2-3 days per week. The deadline to apply for this opportunity is October 27, 2024.
Job Description: The Senior Collections Workout and Loan Risk Specialist position will work with collections staff, delinquent consumer loans, and negative share accounts to collect past due payments and encourage deposits. Explores pre-determined ways to help our members through loan modifications, deferments, and payment arrangements to prevent defaults. Works with members to understand their financial situation and develop strategies that help avoid foreclosure or default, while ensuring compliance with regulations and internal policies. Serves as support for the team to ensure smooth workflow and to assist with team-related concerns. Process accounts recommended for charge off from management, receive and post payments from 3rd party vendors. This position ensures that all charge-off actions comply with regulatory standards and company policies while striving to minimize financial losses.
Essential Functions and Responsibilities:
- Act in Team Lead/Subject Matter Expert capacity for the Collections team. Assist team members with clarification of complex collections issues as first line of escalation (if available) prior to escalating issues to a manager. Recommend to training needs for the department based on types of situations presented for clarification by staff.
- Consultative collection role by placing outbound calls to members, co-borrowers and joints, utilizing various resources. Analyze member financial information, including income, expenses, credit reports, and asset details, to determine appropriate workout strategies negotiating payment arrangements and payment/Collection Workouts(CWO) options (i.e. – automatic transfers, bill pay, payment by phone, etc.). Monitor post-workout performance of loans to ensure compliance with new terms. Report on portfolio performance, workout outcomes, and trends to management.
- Review accounts to determine eligibility for charge-off, ensuring all collection efforts are exhausted. Process charge-offs accurately and in compliance with company policies and regulatory requirements. Maintain a detailed records of all actions taken on delinquent accounts.
- Processes invoices, checks received from attorneys, other vendors and auctions.
- Performs other job-related duties as assigned.
Experience: Three or more years of financial services collections experience, or two or more years of loan underwriting experience, required.
Education: A high school diploma or GED required. A bachelor's degree in a business-related field preferred.
Other skills required:
- Must be proficient in Microsoft Office Suite, to include Word, Excel and PowerPoint.
- Excellent organizational and analytical skills.
- Ability to communicate clearly and professionally with all levels of an organization.
- Excellent written and verbal communication skills, including business writing ability.
- Excellent time management skills and accustomed to working with deadlines.
- Must be detail-oriented and be able to maintain a high level of accuracy.
Equal Opportunity Employer/Protected Veterans/Individuals with Disabilities
The contractor will not discharge or in any other manner discriminate against employees or applicants because they have inquired about, discussed, or disclosed their own pay or the pay of another employee or applicant. However, employees who have access to the compensation information of other employees or applicants as a part of their essential job functions cannot disclose the pay of other employees or applicants to individuals who do not otherwise have access to compensation information, unless the disclosure is (a) in response to a formal complaint or charge, (b) in furtherance of an investigation, proceeding, hearing, or action, including an investigation conducted by the employer, or (c) consistent with the contractor’s legal duty to furnish information. 41 CFR 60-1.35(c)
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