Specialty Collection Representative

Redstone Federal Credit Union•Huntsville, AL

About The Position

Interacts with members to gain knowledge and understanding of their financial needs. Performs a variety of collections activities and utilizes all available resources to reduce delinquent accounts, avoid charge-offs and foreclosures. Provides detailed information and promotes products and services to meet member needs and build relationships. Creates payment plans to protect the assets of the Credit Union. A Specialty Collections Representative is distinguished from a Collection Representative in that the employee job duties are more complex in nature and require specialized training to handle bankruptcy, repossessions, foreclosures, litigation, loss mitigation and workouts. They serve as a liaison between the Credit Union, attorneys and third party vendors. A Specialty Collection Representative may also serve as a lead for other employees and assist in training.

Requirements

3 Years - Collections experience in a Financial Institution.
1 Year - Experience in loss mitigation, workouts, bankruptcy, repossession or foreclosures.
Effectively apply internal and external customer service practices and processes to meet quality service standards and achieve member satisfaction.
Learn and apply information, on a wide range of Credit Union products, services and regulatory compliance requirements, in order to assess member situations and develop solutions.
Provide guidance and resolve problems utilizing advanced knowledge and experience to analyze situations and provide solutions.
Communicate in a professional manner and deliver information clearly and effectively.
Actively listen to questions, opinions and ideas of others.
Use tact and diplomacy in sensitive and confidential situations.
Use correct English including spelling, grammar and punctuation.
Operate computers and use business software and other standard office equipment.
Understand and follow written and oral instructions.
Set priorities and manage one’s own time effectively.

Nice To Haves

4 Year / Bachelors Degree - Business or relevant discipline
Knowledge of Fannie Mae servicing.
Basic lending experience

Responsibilities

Assess member’s needs and concerns; provides consultative services to members regarding appropriate Credit Union products and services.
Utilizes advanced knowledge of workout and loss mitigation options to provide resolutions to members with financial hardships; follow through to ensure member satisfaction.
Serves as a primary resource for other employees by mentoring, providing ongoing training and guidance and ensuring all changes in policies and procedures are communicated and understood.
Complete projects and reports as requested.
Perform specialized data entry to prepare a variety of standard materials, documents and reports; updates records and databases; completes and processes standard forms related to areas of responsibility.
Responsible for performing collections on delinquent accounts through multiple communication channels with multiple parties, including but not limited to; members, attorneys, vendors and other departments; managing specialized collection actions, including but not limited to; repossessions, foreclosures, bankruptcy, loss mitigation and workouts on all relevant accounts.
Updates, flags, close delinquent accounts and process payments; prepare and maintain a variety of reporting by processing the appropriate workflows.
Interacts with other departments, attorneys and third party vendors to complete tasks, research and resolve issues.
Responsible for preparing and reviewing internal and external documents pertaining to collection activities; including but not limited to, bankruptcy, foreclosure, repossessions and litigation.
Assist members with short sales, Deeds in Lieu and settlement offers; review and submit recommendation to management.
Maintains a professional image and demeanor at all times, consistently demonstrating Credit Union RISE Values and adhering to the Code of Ethics.
Delivers friendly, caring service to internal and external members.
Complies with all applicable State, Federal and NCUA rules and regulations and all Credit Union policies and procedures.
Follow all physical and online security procedures and maintain strict confidentiality of all member information.
Completes all required regulatory and compliance training and maintains required knowledge of Credit Union products and services.
Works scheduled hours and maintains punctuality.
Performs other related duties as assigned or requested.