Loss Mitigation Representative 2

Full-time

Description

Job Summary:

Performs collection functions (at intermediate to late stages) on past due mortgages, consumer loans, credit cards, overdrawn share draft/share accounts and return items according to Credit Union policy and applicable collection laws.

Essential Job Duties:

Main responsibilities:

Perform collection actions on mortgage and consumer loans (secured and unsecured), credit cards and negative share/share draft accounts that are generally between 30- and 60-days delinquent to ensure losses are minimized. Collection actions include, but are not limited to, making phone calls and generating letters. Utilize collections software to manage collections activity.

May assist Asset Recovery Specialists with levies, garnishments, attorney demand letters and complaints, bankruptcies and repossessions.

Support member contact staff in other departments across the organization in dealing with collection accounts to minimize risk and maximize service.

Perform skip traces to help in locating members.

Access and interpret force-placed insurance records; May file claims as appropriate.

Post payments on delinquent loans/credit cards, charged-off accounts, and for members working with debt management companies.

Maintain accurate documentation of collection activity records to ensure effective internal communication and legal processing.

Review and recommend repayment solutions, including applying for workout loans or in-house debt management programs, to assist members who are experiencing financial difficulties. Be familiar with external Debt Management Programs.

Provide a superior member experience by actively listening to and assessing the needs of the member, identifying and recommending solutions, and referring members to the appropriate person or department.

May assist with the development of departmental procedures to ensure that collection activities are handled in an effective, efficient and consistent manner.

Handle complex situations and resolve difficult or non-routine member issues with management to minimize credit union losses.

May review, determine and relay relevant information regarding bankruptcies for analysis by the Credit Union attorney to help protect the Credit Union’s interests.

Review Bankruptcy status to determine collection activity eligibility.

Investigate and contact member account holders to help ensure future asset recovery.

May Assign charged off accounts to third party collection agency when appropriate according to department policies.

Follow all applicable policies, procedures and collection laws to ensure minimal losses to the Credit Union.

Contribute and help to maintain a productive and positive working environment.

Perform other duties as assigned by management.

Requirements

Required Skills/Abilities:

Excellent interpersonal and negotiation skills.

Able to handle difficult situations and persons in a positive and professional manner.

Excellent organizational skills and attention to detail.

Demonstrates willingness and ability to train others effectively.

Possesses excellent verbal and written communication skills.

Able to explain collection and/or lending-related topics to others clearly and succinctly.

Strong time management skills

Strong proficiency with Microsoft Office applications. Familiar and comfortable with information technology, particularly digital means of communication.

Strong organizational skills in managing multiple initiatives

Ability to organize workflows and meet departmental deadlines

Strong analytical and problem-solving skills.

Knowledge:

Solid understanding of applicable state and federal laws and regulations, including Fair Debt Collections Practices Act, different kinds of bankruptcies and related obligations, and UCC requirements.

Education and Experience:

Minimum 2 years’ experience in financial services, collections, loan servicing, lending, foreclosure, troubled debt restructuring, or related experience

Minimum HS Diploma or GED equivalent or more than 2 years of related experience.

Physical Requirements:

Prolonged periods of sitting at a desk and working on a computer.

Frequent travel

Must be able to lift 20 pounds at times.

Salary Description

$23.04-$28.80 (Depending on Experience)