Job Description
Centric is committed to creating, encouraging, and nurturing a safe and inclusive work environment. These same standards are expected of each of our employees. Centric values and celebrates diversity in the workplace and we welcome those with unique backgrounds, working styles, and skillsets. Our culture recognizes and embraces each person’s unique contribution to our success, and empowers our team to connect, belong and grow, so that we can better serve our members and community.
Role:
To preserve the credit union's assets by controlling delinquent loan accounts, collecting delinquent loan payments, overdrawn accounts and/or recovering collateral.
Essential Functions & Responsibilities:
30%
Contacts delinquent accounts by phone, text message, email and mail; takes appropriate action to bring current.
20%
Manages all risks to the credit union including, but not limited to, the following: member and community relations risks, credit risks, loan default risks, regulatory risks, legal & bankruptcy risks, collateral and loan loss risks, and reputational risks.
15%
Skip traces delinquent members for new telephone, address, and employment information through the use of all available technologies for the purpose of re-establishing contact between the credit union and delinquent members to obtain timely payment arrangements or collateral location and repossession to minimize losses.
10%
Analyzes financial situation of delinquent borrowers; makes recommendations to repossess collateral when other arrangements to bring the loan current are unsuccessful.
10%
Maintains accurate files and reports on all collections activity.
5%
Testifies at legal proceedings as required.
5%
Informs management of trends in loan underwriting contributing to delinquent/charged-off loans.
5%
Performs other job-related duties as assigned.
Performance Measurements:
To ensure timely contact of members with delinquent loans to inquire about re-payment intent. Initiate calls to members on the generation of the 10-day notice.
To maintain accurate and complete records of all collection and recovery activity.
To adhere to provisions as set forth in the Fair Debt Collection Practices Act (FDCPA), avoid unfair deceptive and abusive acts or practices (UDAAP's) as outlined by the Consumer Financial Protection Bureau (CFPB), and insure collection activity is always within credit union policy and all relevant regulations.
To enter a concise, professional memo in the appropriate collections system of each contact or contact attempt.
To provide informed, professional assistance and support to all members and associates, to troubleshoot and resolve inquiries in a timely, friendly, and accurate manner, and escalate all member or employee complaints to a supervisor.
To monitor delinquencies closely and maintain an approved 30/60-day delinquency ratio.
To keep losses to a minimum and collect the maximum possible from bankruptcy and problem accounts.
To maintain a dependable record of attendance and timeliness.
To provide friendly, professional, personal SERVICE to all members and greet each member by name.
Knowledge and Skills:
Experience
One year to three years of similar or related experience.
Education
A high school education or GED.
Interpersonal Skills
Work involves much personal contact with others inside and/or outside the organization for the purpose of first-level conflict resolution, building relationships, and soliciting cooperation. Discussions involve a higher degree of confidentiality and discretion, requiring diplomacy and tact in communication.
Other Skills
The employee shall perform his/her duties and responsibilities in accordance with all applicable federal and state laws and regulations including, but not limited to, all federal and state laws regarding fair lending, discrimination in lending, and fair debt collection practices, as well as the rules and regulations of Credit Union.