Senior Collector - Oceanside, United States - Frontwave Credit Union

Description

The Senior Collector plays a critical role in the ongoing coaching and collections of delinquent loans. They seek to develop long term solutions to resolve delinquency. Are responsible for providing support to the management team by organizing and maintaining collection reports. They process, sort, and track information regarding repossessions, charge-offs, collateral protection insurance, open lending claims and bankruptcies. Responsible to uphold and abide by Frontwave Credit Union's core values and service expectations.

About Frontwave Credit Union:

Frontwave Credit Union is a member-owned not-for-profit financial institution serving San Diego, Riverside, and San Bernardino counties. Founded in 1952, we have grown to 13 branches with 120,000 members and manage over a billion in assets. At Frontwave Credit Union, we are focused on creating consumer solutions to provide our members and the communities we serve with products and services that enhance the quality of life for our members through exceptional service and the progressive application of technology.

What's In It For You:

Competitive pay, 401k matching, mortgage and auto discounts.

9-27 days of PTO per year (based on tenure) and 10 paid holidays.

Affordable medical, dental, vision health plans, and Flexible Spending Account.

Employee Assistance Program with a variety of services.

Career development, training, and coaching, mentoring; tuition reimbursement up to $4,000/year.

Culture of excellence and continuous improvement.

We strive to be the best place you've ever worked

ESSENTIAL DUTIES AND RESPONSIBILITIES:

Includes the following non-inclusive list. Other duties may be assigned. All duties are to be performed in compliance with applicable laws, regulations, and Credit Union policies and procedures.

• Assists members and employees with information regarding delinquent and negative accounts, bankruptcies, repossessions and Collateral Protection Insurance (CPI) policies and claims.
• Works on all delinquency stages through inbound/out-bound callings, letters, and other approved methods, collects past due payments and/or negotiates payment arrangements or repayment plans to resolve delinquent loans or negative shares by identifying reason for delinquency and offering appropriate options to members.
• Works with delinquent members on their consumer loan, credit card, home equity line of credit and negative share/share draft accounts.
• Research and respond to complex and escalated member issues.
• Recommends and processes members with delinquent accounts for work out loans, loan extensions, deferments, re-age, reduced payments, repossession and charge-off
• Conduct skip tracing to obtain contact information in order to contact delinquent/defaulted members.
• Maintains adherence to all federal and state regulations and credit union policy and procedures.
• Reviews and updates weekly reports including Repossession and Skip Tracing Skip Tracking Report.
• Reviews and updates weekly Open Lending (AALP) Lenders Protection Claims Report.
• Processes Notice of Intent (NOI) on repossessed vehicles on a timely matter.
• Processes payment for open invoices owed to the repossession agents.
• Interacts with attorneys / trustees regarding bankruptcy accounts.
• Processes DMV titles, files insurance claims and follows-up on all bids and sales of vehicles sent to auction.
• Mails out appropriate correspondence to members concerning deficiency balances and delinquent accounts to avoid charge-off.
• Assists the collection staff in research of past due accounts.
• Trains and onboards new employees within the department
• Research and respond to branch and member issues including, but not limited to, misapplied payments, procedural questions, and account history reconciliations.
• Assist the Accounting Department reconciling General Ledgers (GL's) used by the department.
• Assist, review and authorize EFT Department with Alkami payments on delinquent loans.
• Assist Member Services Departments with deceased accounts.
• Reviews and provides necessary documents to sales tax vendor in order to file sales tax refunds on repossessed vehicles.
• Ensures accurate and timely preparation of various department monthly business reports such as:
  • Repossession
  • Charge-Off
  • Sales Reports
• Ensures accurate preparation of daily employee Key Performance Indicators (KPI) performance reports:
  • Calls, Contacts and Promises to Pay (PTP)
  • Daily KPI's (Calls, Contacts, Conversation Rate, Kept Promise Rate, Dollars Collected, Percent (% )to Goal
  • Daily Collector Stats
  • Daily Accounts Worked

EDUCATION and/or EXPERIENCE:

High School Diploma or general education degree (GED).

Five plus years of collections experience, preferably at a credit union or bank.

Additional Knowledge, Skills, and Abilities:

• Must have a working knowledge of the Microsoft Suite of the office programs
• Strong knowledge of Repossessions, Bankruptcy 7 & 13, foreclosures, loan modifications, workout loans, Skip Tracing, Collateral Protection Insurance (CPI).
• Ability to communicate in a professional manner with at all levels.
• Strong knowledge of consumer lending products and programs including auto, credit cards, unsecured, other secured products and solar loans.
• Knowledge of consumer lending related insurance products such as Guarantee Asset Protection (GAP), Mechanical Breakdown Protections (MBP) and Debt Protection.
• Knowledge of collections system is required, knowledge of Temenos is desirable.
• Working knowledge of PACER.

Salary Range: $25.94/hr-$38.91/hr