Payment Assistance/Collection Specialist II

Job description

JOB TITLE: Payment Assistance Specialist II DEPARTMENT: Payment Assistance REPORTS TO: Payment Assistance Manager JOB STATUS: Non-Exempt * ---------------------------------------------------------------------------------------------------------------------------------------------------------- PRIMARY: Under minimum supervision is responsible for the effective delinquency control and follow up for all portfolios that are 60 days + 180 days past due excluding mortgage accounts. Bankruptcy accounts and HELOC accounts. Contact members to discuss delinquent accounts and provide options and solutions as necessary. Reviews and recommends third party vendors as needed to implement best practice collection efforts. Makes personal contact with members and takes appropriate action to arrange a satisfactory settlement of delinquent accounts. Works closely with Payment Assistance Manager on collateral-based decisions, sale proceeds and approval of those, skip tracing, foreclosures, repossessions and decisions on payments in full. Oversees outside vendor agencies who have been assigned to collect on delinquent accounts. Responsible for the day-to-day activities and workflow within the Payment Assistance Department. Responsible for e-Oscar to include AUD, ACDV, and written disputes by mail. ESSENTIAL DUTIES: Practice CBC core values: *

Make It Right-CBC pledges to do the right thing for our credit union by providing the greatest benefit possible to our members and our community * Make It Easy-CBC pledges to provide easy financial solutions, convenient locations, efficient service and simplified processes * Make It Personal-CBC pledges to nurture deep, personal relationships with members, based on their individual needs and preferences * Include the following, with Quality Internal and Member Service being the primary responsibility of this position. Other duties may be assigned. * Must maintain the Credit Union's policies regarding Standards of Conduct and Confidentiality. * Performs delinquency control and collection activity for all portfolios that are 60-180 days past due excluding mortgage accounts. Accounts include HELOC and all unsecured loans as well as those secured by collateral such as automobiles, RV's, boats, trailers, etc. * Contact members with past due loans including secured and unsecured. Provide financial counseling to include but not limited to, loss mitigation alternatives that will provide long-term solutions to the present default through formal repayment plans, credit counseling, or loan restructures. * Monitor own work list and ensures that appropriate Collection efforts are done according to the Collections Guidelines & Procedures for all secured and unsecured loans * One on one training with all new hires. Point of contact for new employees once released on own. * Oversees all bankruptcy filings and recommends appropriate action. Initiates small claims proceedings on delinquent consumer loans as appropriate and attends small claims court, as necessary. * Performs skip tracing for effective collection of delinquent accounts. Initiates field chases as appropriate. May be asked to assign accounts to outside investigation services as appropriate. Skip tracing tools to include Lexis Nexis Risk Solutions / Accurint * Oversee and performs all member credit disputes reserved by e-Oscar. Update member credit in e-Oscar. Also included member written disputes by mail. * Recommends repossession of collateral securing delinquent loans and works directly with agents to ensure collateral is recovered in a timely manner. Arranges transport in concert with Department Manager to appropriate auctions for sale of collateral. * Obtains required documents from repossession agents including insurance packages and performs Verafin checks. * Handles Voluntary and Involuntary repossessions and reinstatements of collateral with members and is a knowledgeable resource to branch offices. Uses sound judgement to extend fees for members during the reinstatement process. * Takes payments by telephone, and works with Consumer Loan Servicing staff and third-party vendors to resolve CPI issues, Gap, Warranty, and misapplied payments. * Works directly with insurance companies to resolve total loss claims. * Contacts tow and impound yards to resolve issues with collateral, negotiates fees, and recommended repossession as appropriate. Monitoring of Lien Sales and Notices of stored vehicles to ensure that the Credit Union's collateral is not sold. * Assists in preparation of Notice of Intent Sell letters and Notice of Deficiency letters. * Handles telephone and mail communication related to delinquent activity; this includes being the liaison to CBC Federal Credit Union staff for collections issues as needed. * Recommends restructure of consumer loans; prepares recommendations for Modifications, Extensions, Re-Ages, and TDRs (Trouble Debt Restructures) to assist members and mitigate losses for CBC Federal Credit Union. * Expert knowledge of and comply fully with all federal and state rules and regulations governing the collection of past due accounts, including but not limited to the Fair Debt Collection Practices Act (FDCPA) and the Fair Credit Reporting Act (FCRA). * Knowledge of BSA/AML/OFAC regulations as they apply to this role. Must complete annual required training. * Ensures all policies, procedures and operations standards are adhered to, and that operational changes to policies and procedures are instituted in response to management. * Perform other duties as assigned REQUIRED KNOWLEDGE, SKILLS AND ABILITIES: The requirements listed below are representative of the knowledge, skills and ability required of an individual to satisfactorily perform the essential duties of this job. * Should have a working understanding of collection and loan and/or banking industry operations from a regulatory compliance, personnel administration and overall operations perspective. * Should have a working knowledge of, and the ability to lead teams to comply with all financial industry credit and collection regulations. * Ability to carry out instructions independently and exhibit advanced problemsolving and project management skills. * Must be able to understand difficult concepts as it relates to credit union and/or banking industry operations. * Ability to accurately perform basic math functions including addition, subtraction, multiplication and division; as well as advanced mathematical disciplines such as algebra, calculus, statistics, and probability; that enable financial analysis such as effective management of resources, and risk and probability forecasting, * Exhibit effective written and verbal communication skills. * Ability to read and comprehend job-related materials efficiently. * Ability to prepare written correspondence in a professional manner; including the ability to develop academically defensible business cases and white papers and multimedia (i.e. PowerPoint or Keynote) summaries that propose new or modified strategies. * Ability to travel to attend conferences for continuing education, networking to obtain industry best practices, and conduct due diligence examinations on vendors and potential merger acquisition candidates. EDUCATION and/or EXPERIENCE: High school diploma or GED. Minimum of three to five years of related collection experience. Expert knowledge of FCCPA and FCRA guidelines. OTHER REQUIREMENTS: Requires thorough knowledge of Credit Union products and services. Must be able to operate all basic office equipment and must be PC literate with Windows applications. PHYSICAL REQUIREMENTS: The physical demands described below are representative of those that must be met by an employee to successfully perform the essential duties of this job. Reasonable accommodations may be provided to enable individuals with disabilities to perform the essential duties. This position is of light physical activity performing nonstrenuous tasks of a clerical nature. While performing the duties of this job, the employee is consistently required to sit. Requires occasional standing and walking. Frequent repetitive use of both hands to include occasional simple grasping. Manual dexterity sufficient to reach/handle items and work with hands to fingers. WORK ENVIRONMENT: Work area is a well-lighted, heated and/or air-conditioned indoor office setting with adequate ventilation. The noise level is moderate. WORK SCHEDULE: Workweek will be 40 hours to include some overtime as needed. Occasional attendance at meetings before or after scheduled hours may be required. Management reserves the right to change any employee's work schedule to meet the operational needs of the Credit Union. Furthermore, management reserves the right to reassign any employee, either temporarily or permanently, to work at another credit union location.

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