Collections Officer

POSITION PURPOSE

The Collections Officer is responsible for the collection of delinquent loans and negative accounts.  The officer is to negotiate payment arrangements and maintain detailed collection records while consistently conforming to the needs, policies and procedures of the credit union as well as the FDCPA.

ESSENTIAL FUNCTIONS AND RESPONSIBILITIES

  • Aggressively collect delinquent loans and negative accounts in accordance with the Fair Debt Collection Practices Act and Credit Union policy/guidelines to maintain acceptable delinquency and loss ratios.
  • Notify co?borrowers/guarantors of delinquent loans and take collection action when appropriate.
  • Counsel members on alternate payment arrangements, extension agreements, forbearance agreements, debt management agencies and other special relief provisions when appropriate.
  • Maintain detailed collection records; both written and computer generated.
  • Control loan losses through consistent and effective collection action.
  • Process debit payments and check by phone payments.
  • Process skip payments.
  • Accept incoming phone calls.
  • Cooperate and work with co?workers as a team member.
  • “Skip trace” accounts as needed.
  • Inform members who are filing Bankruptcy of the Credit Union’s Loss and Reaffirmation policies.
  • Ability to work effectively with irate, unpleasant and/or unwilling members, resolving issues and concerns in a professional manner without becoming emotionally involved.
  • Cross?sell Credit Union services in a professional and routine manner.
  • Amortization of loan payments.
  • Follow up on deficiency balance loans.
  • Recommend the need for repossession, foreclosure, legal action, or outside collection agency interactions.
  • Participate and assist in the development of policies, procedures and goals for the departments.
  • Work directly with outside vendors including attorneys, repossession agents and collection agencies.
  • Assist with processing Write Offs and Charge Offs.
  • Train new employees.
  • Consistently monitor status of negative balance accounts.
  • Aggressively collect from fraudulent account activity on negative accounts.
  • Conduct Departmental trainings when necessary.
  • Assist employees in understanding policies, procedures, and practices of the Credit Union.
  • Prepare periodic reports on collection activities as required and prepare monthly, quarterly, and annual       reports for use by management as directed.
  • Cooperate and work with co?workers as a team member.
  • Promote, cross?sell, and counsel members on Credit Union products and services in a professional and consistent manner.
  • Comply with all Federal and State Laws and Regulations as promulgated by among others NCUA, FinCEN, US Treasury, FTC, Federal Reserve Bank, Oregon State Department of Consumer & Business-Division of Finance & Corporate Securities to include but not be limited to: Bank Secrecy Act, OFAC, USA PATRIOT Act, FACT Act of 2003, Federal Reserve Regulations, Oregon Revised Statutes 723, and Oregon Administrative Rules 710 & 720.
  • Perform other duties as assigned.

REQUIRED KNOWLEDGE, SKILLS AND ABILITIES

  • Previous consumer and real estate loan collections experience desired.
  • Knowledge and general understanding of the Fair Debt Collection Practices Act.
  • Working knowledge of collection tools, when to use them, and how to use them effectively.
  • Ability to utilize a PC with proficiency and a working knowledge of word processing and spreadsheet applications.
  • Skill and dedication to maintaining detailed records and organized filing systems.
  • Knowledge and general understanding of repossession, foreclosure, and deed in lieu of foreclosure desired.
  • Working knowledge of bankruptcy proceedings as they pertain to consumer and real estate loans.
  • Ability to work with minimal direct supervision and guidance.
  • Experience in reporting to secondary market investors and private mortgage insurance companies desired.
  • Ability to interact effectively with members and aptitude for effective written communication with emphasis on individualized collection letters.
  • General understanding of accounting principles and procedures and how they pertain to collections.
  • Skill in typing, math, and clerical functions.
  • Ability to work flexible schedules including evenings, weekends, and overtime as necessary to meet goals and objectives.
  • Knowledge of garnishments and process desired.
  • Knowledge of Bankruptcy laws and regulations desired.
  • Knowledge of Soldiers and Sailors Act desired.
  • Must be bondable.

Central Willamette Community Credit Union is a Values based organization.  We are fully committed to 5 core Values – RESPECT, INTEGRITY, ETHICS, COMPASSION and HUMOR.  We believe the continual and constant assertion of these Values will ensure that our Brand; our promise, position, performance and personality, will be clearly demonstrated as we fulfill our Purpose.  Our Purpose is to enrich the communities of the central Willamette Valley by providing superior financial products, services and opportunities.  This is our quest, our passion and our vision.  Our Purpose becomes reality only with 100% participation and commitment from every member of our team to live by our Values.  As an employee of Central Willamette, it is a job requirement to fully embrace our Values based culture.  It is an expectation that your time, energy, attention and passion will be directed to the fulfillment of our Purpose by adhering to our Values.  All employee activities fall under the umbrella of our Values based culture making it vitally important that you fully embrace the Values in order to be successful at Central Willamette.

Please email a letter of your qualifications along with a detailed resume to CU-Resumes@centralwcu.org

Central Willamette Community Credit Union is an Equal Opportunity Employer

Posted in Compliance, Compliance News, NWCUA.