Senior Collections Representative

Company Description

70 something year old organization looking for a special someone to fill a void. Loves long term relationships and doing community service. Serious inquiries only, please.

We love people who love people. Our job is to do more than help with finances, we create connections that last a lifetime.

If you truly have a passion for helping others, you’ll fall in love with us.

                                                        - Greater Texas

Job Description

What's in it for you as a Senior Collections Representative

• Training and ongoing coaching to learn highly desired skills for career development.
• A place where you can make an impact on members, teammates, and the community in meaningful ways. 
• Full benefits package, 401k, 12 paid holidays, 16 hours paid volunteer time per year, tuition reimbursement, profit sharing, and weekends off.
• All the coffee your heart desires and halfway-decent potlucks.

Basics of a Senior Collections Representative

• Schedule: Monday - Friday 8:30 am - 5:30 pm and alternate Saturdays from 9:00 am to 1:00 pm
• Flexibility required - extended hours, based on company needs
• Hybrid Position - After the initial training period, a hybrid work model will become an option. You will be requested to work 3 days on-site and 2 days remote. Allowing for a blend of remote and onsite work based on performance and departmental needs.

Summary of what you'll do as a Senior Collections Representative

In the Senior Collections Representative role, you will handle advanced collection activities and require a deep understanding of collections processes, strong negotiation skills, and the ability to handle complex delinquent accounts while also providing a top-tier member experience.

Account Management:

• Handle a portfolio of delinquent accounts, focusing on resolving complex and escalated cases, including loans, credit cards, and shared accounts. Evaluate payments (regular and irregular) being made on delinquent accounts and determine how the payment will be applied, i.e., principal, interest, escrow, and late charges, or possibly return payment if foreclosure proceedings have been initiated or payment is unacceptable. Initiate skip tracing procedures on members who have moved and have failed to notify the credit union. Advise department management when further action may be necessary.

Negotiation:

• Engage in negotiations with members to establish payment arrangements, settlements, and other collection strategies that align with the credit union’s policies and regulatory requirements.

Compliance:

Ensure all collection activities are in full compliance with federal, state, and local regulations, including Fair Debt Collection Practices, as well as internal policies and procedures.

Documentation:

• Maintain accurate and detailed records of all collection activities, communications with members, and any actions taken on accounts. Review credit union records and transactions to resolve misapplied payments, researching account transactions to ensure that payments are properly credited.

Reporting:

• Prepare regular reports on collection activities, account statuses, and trends for review by leadership.

Training & Mentorship:

• Provide guidance and training to junior collections staff, sharing best practices and assisting with complex cases.

Communication:

• Serve as a point of contact for members experiencing financial difficulties, offering advice and options to help them manage their obligations. Maintain consistent daily follow up on delinquent loans, credit card, and share accounts.

Collaboration:

• Work closely with other departments to develop strategies for managing delinquent accounts and improving the overall collections processes.

Continuous Improvement:

• Identify opportunities to improve collections strategies and processes, researching and following best practices to enhance efficiency and effectiveness.
• Comply with the credit union Bank Secrecy Act (BSA) Policy and Anti Money Laundering and Member Due Diligence Procedures.  The BSA training is to be completed within 90 days of employment and annually thereafter.
• Complete compliance and career development training as assigned.
• Other duties as assigned.

Qualifications

Must haves for a Senior Collections Representative

• Skills:  Strong understanding of collections laws and regulations. Excellent negotia