Collections Officer

Community First Bank; Sydney; On-site; AUD 70,000 - 90,000; Full time

Job summary

Community First Bank is seeking a Collections Officer to manage high-volume aged delinquent accounts using outbound calls, letters, and lawful processes. You will assess member financial position and offer payment options while ensuring regulatory compliance.

You will generate arrears reports, negotiate with members, and refer complex cases to the Collections Manager for guidance, while collaborating with external service providers to action repossessions or legal actions when needed.

Qualifications

• ASIC Tier II Statement of Attainment, or willingness to obtain in 3 months.
• Proficiency with Microsoft Word, Excel, and Outlook.
• Previous experience in collections or accounts receivable.
• Experience with Ultra data software (Desirable)
• Experience working in a Credit Union or Mutual Bank (Desirable)
• 2 years experience in a Collections role within the finance industry (Desirable)

Responsibilities

• Generate arrears reports daily from the core banking system.
• Action delinquent accounts weekly as delegated by the manager.
• Negotiate with members to achieve mutually beneficial outcomes.
• Refer delinquent cases to Collections Manager for repossession or legal action when required.
• Liaise with external service providers for repossessions and legal actions.
• Maintain risk and regulatory compliance in all collections activities.

Skills

Communication skills

Education

ASIC Tier II Statement of Attainment

Tools

Microsoft Word

Microsoft Excel

Microsoft Outlook

Ultra data software

Job description

Community First distributes financial products and services across a range of channels Australia wide. Our store locations stretch from the Sutherland Shire, the Hunter Region, Western Sydney and in between. Community First is member owned and run for the benefit of members, not for external shareholder profit. Our mission is to help members achieve their financial goals by building relationships for mutual benefit. Community First therefore strives to offer members something different to traditional banking institutions and puts members first in the delivery of products and services which help them achieve their personal financial goals. Community First also owns Easy Street – an online only provider of savings and loan products that offer simple value and appeal to people who prefer to do their banking online themselves.

The Collections team sits within the finance division of Community First Bank which encompasses the following responsibilities:

- Finance

- Collections

Reporting to the Collections Manager, the Collections Officer is required to action high volume aged delinquent accounts using the suitable collections techniques of outbound calls, letter generation and legal process taking into consideration the member’s relationship with the organisation, their current financial position and ensuring compliance with the relevant legislation and organisations Policy and Procedures. The Collections Officer is to facilitate the reduction in the number and dollar value of delinquent accounts and identify payment, budgeting and product options to assist in the meeting the needs of members.

Key Responsibilities

• Daily generation of arrears reports via the core banking system
• Action every delinquent account delegated by the manager to your portfolio not less than once weekly. These may include but are not limited to;
• Secured Loans in arrears
• Unsecured loans in arrears
• Overdrafts in arrears
• Overdrafts over limit
• Overdrafts in arrears and over limit
• Overdrawn savings accounts.
• Apply effective communication skills to negotiate with members for mutually beneficial outcomes in relations to the member’s financial postilion.
• Challenge procedures to find innovative alternatives to improve workflow within Regulatory constraints.
• Identify ‘housekeeping’ issues that have effected an arrears status on a members facility and take appropriate action
• Refer delinquent accounts to Collections manager where approval/instructions for repossession or legal action is required.
• Refer all Part IX Debt Agreement proposals and Bankruptcies to the Collections Manager for review and instructions.
• Liaise with external service providers to ensure field calls, repossessions and legal action are actioned in a timely manner
• Provide feedback to the Collections Manager on issues that effect lending portfolio quality or arrears
• Maintain a professional approach to all staff and members to exceed customer service expectations, and build partnerships with CFCU colleagues
• Operate within constraints of legislation to remain compliant at all times.

Risk Management

Community First requires you to:

• Understand and adhere to Community First’s operational risk, business continuity, and incident management policies and procedures, incorporating APRA CPS 230 requirements.
• Actively identify, assess, mitigate, and report operational risks, incidents, errors, or concerns through designated internal reporting channels, in alignment with the Community First’s risk management framework and operational risk management policy.
• Seek assistance or clarification whenever in doubt about a risk or when a new or increased risk is identified and elevate these matters to your direct manager or other reporting channels as appropriate.
• Participate annually in risk management workshops to identify and assess key risks, determine their likelihood, and ensure appropriate mitigants and controls are in place.
• Collaborate effectively with external service providers and partners, ensuring that third-party risks are managed in accordance with Community First’s policies and regulatory requirements.
• Know and comply with Board and Management policies, including but not limited to consumer and business lending, as well as all regulatory requirements. Review all policies and regulatory requirements annually and remain up to date on changes. Managers must ensure their teams are aware of and understand these policies and changes.
• Participate in ongoing training, development activities, and practice drills to maintain competence in risk management, compliance and business continuity practices, including successful completion of annual risk and compliance training arranged by Talent Management.
• Foster a strong risk culture by promoting accountability, transparency, and continuous improvement, and by championing risk awareness across the organisation.
• Understand that failure to follow documented policies and procedures, or to act in a manner inconsistent with Community First’s values and expectations, may result in performance management.

Position Requirements

Role Competencies:

Ability to -

- display confidence when dealing with others;

- display capacity to convey empathy in dealings with members under hardship circumstances;

- identify the most appropriate course of action relevant to the aged days and circumstances of each delinquent account;

- identify cross sell product opportunities;

- develop and maintain effective networks with industry colleagues;

- cooperate and engage with staff at all levels within the organisation;

- set priorities, plan workload and meet individual and departmental objectives;

- display well developed written and verbal communication skills;

- work in a team based environment and autonomously;

- display competence using computer and telephony technology

- understand the corporate values and how the behaviours they represent link and add value to the culture and of the organisation..

- demonstrate commitment to CFCU’s corporate values of Passion, Teamwork, Success, Initiative and Trust.

Knowledge Areas

i) Contemporary knowledge of legislation affecting the collections industry including Privacy Act, National Consumer Credit Protection, Mutual Banking Code of Practice and ACCC collection guidelines ii) Basic knowledge of the relationship between the age of the arrears, the relevant provisioning and the financial impact on the bank.

iii) Current knowledge is to include but not limited to:

- Workplace Health and Safety (including Robbery Awareness)

- Fraud Awareness

- Compliant Handling & Dispute Resolution

- Risk Awareness

- Business Continuity

- Discrimination, Bully & Harassment

- AL/CTF

- Privacy

- Codes of Practice (including COBCOP)

- Code Of Conduct

- Business Unit specific training

Qualifications and Experience

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Essential

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1. ASIC Tier II Statement of Attainment (or willingness to obtain in 3 months)

2. Computer skills including but not limited to Microsoft Office programs such as Word, Excel, and Outlook).

3. Previous experience in collections or accounts receivable role.

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Desirable:

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1. Previous experience working with Ultra data software

2. Previous experience working within a Credit Union or Mutual Bank.

3. 2 years experience in a Collections role within the finance industry

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