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Collections Specialist

Dresang Way (Home Office)

Hours: Full Time

Working with Community Firstís members, the Collections Specialist is ultimately responsible to protect the assets of the credit union. The Collections Specialist collects delinquent accounts including: consumer loans, mortgages, credit cards, and negative deposit accounts.  Building professional relationships and looking for opportunities to help members during difficult and stressful times are critical elements of this position. The Collections Specialist is responsible for identifying options and pursuing alternative arrangements to reduce risk and minimize losses to the credit union.  The Collections Specialist demonstrates strong self-management and time management abilities, while working closely with the collection team and other CFCU departments and employees in a collaborative, team-oriented, fast-paced environment.

  • Provide outstanding, helpful service in every member interaction; display sensitivity and proactively seek alternatives to assist members in difficult situations
  • Contact members regarding delinquent accounts, primarily via telephone but occasionally through written communication or face to face interactions
  • Complete meticulous and consistent documentation and tracking of all collection activity on the credit union collection software
  • Work with the member to determine the circumstances leading to delinquency; work diligently to negotiate and develop a resolution to assist the member and reduce risk to the credit union
  • Demonstrate exceptional listening and communication skills; respond appropriately and effectively to deescalate what can be challenging interactions with members, while moving towards a resolution
  • Research internal account statements in detail including payments, deposits, credit card history, and various payment/deposit methods to verify account activity and identify errors and pursue corrections
  • Utilize creative thinking to suggest alternatives and payment plans, within acceptable limits to the credit union
  • Recommend applicable legal action when all efforts to bring the account current have been exhausted; prepare written recommendation in support of legal action
  • Escalate situations that may lead to repossession or foreclosure to  managementís attention
  • Prepare and submit charge off recommendations to the VP of Collections
  • Participate in the monthly and quarterly Allowance for Loan Loss Review process
  • Gain and/or demonstrate familiarity with credit reporting, vehicle models/options and valuation sources (Kelly Blue Book, NADA guidelines, etc.), bank statements, and other reports/documents related to personal financial history
  • Gain and or demonstrate the ability to work with debt management programs and debt settlement companies and make appropriate recommendations
  • Perform other duties as assigned

A high School Diploma and some secondary education or experience in a related field is required.  Two + years of experience in lending, collections, or a related field is preferred.  An equivalent combination of education and experience will also be considered. Knowledge of the Wisconsin Consumer Act, Fair Debt Collection Practices and Fair Credit Reporting Act is a plus. Familiarity with Microsoft office suite, as well as web-based software and financial services platforms.