Collections Specialist

Beacon Credit Union; Lynchburg (VA); On-site; USD 38,000 - 60,000; Full time

Job summary

Beacon Credit Union in Lynchburg, VA seeks a Collections Specialist to support delinquency management and customer service. The role focuses on contacting members, evaluating repayment options, and coordinating actions within regulatory guidelines.

The position emphasizes strong communication, attention to detail, and the ability to handle sensitive information with discretion, while collaborating with branches and other departments to resolve accounts.

Qualifications

• Six months to two years of similar or related experience.
• Experience with bankruptcies, foreclosures and repossessions.
• Previous collection experience required.
• Strong member service and communication skills a must.
• Ability to multi-task and be flexible during the workday.
• Knowledgeable of laws that pertain to banking and collection practices

Responsibilities

• Respond to customer inquiries by phone and in person to collect delinquent accounts.
• Interview customers to determine reason for delinquency and determine action (modifications/workouts).
• Counsel customers on obligations, options and arrange payments.
• Reconcile GLs, process bankruptcies, recovery payments and reports.
• Recommend further action (repossession, legal action, foreclosure, collections referral).
• Ensure files are updated and documents filed, including adverse action forms.

Skills

Collections experience

Customer service

Phone communication

Multi-tasking

Banking/collection laws

Education

High School Diploma

College degree preferred

Job description

Role

The primary purpose of this position is to assist Beacon Credit Union to live out our mission, "Dedicated to Our Member's Financial Success."\

Participates in maintaining a financially sound loan portfolio through early delinquency control. Methods to accomplish this include (but are not limited to): phone calls, collection letters and in person interviews. Recommends further action on accounts as deemed necessary (includes but not limited to): repossession, legal action, foreclosure and referral to collection agency). Responsible to deliver outstanding internal and external service standards.

Major Duties and Responsibilities

Respond to customer inquiries by phone and in person (could include but not limited to requests to transport our collateral out of country, VSI and BALP claims, GAP and warrant insurance cancellations, NADA values, address updates).

Interview customers to determine reason for delinquency. Take appropriate action to resolve the account (could include loan modifications or loan workouts). Counsel customers concerning their financial obligations, advises of options and solicits agreement of payments.

Reconcile GL's, process incoming bankruptcies, recovery payments and preparation of reports when needed.

Recommend further action as deemed necessary (i.e. repossession, legal action, foreclosure, referral to collection agency).

Demonstrates judgment and discretion within the framework of all applicable regulations and policies.

Ensure customer files are kept updated and complete, and all required documents are filed (includes completion of adverse action forms).

Assist other departments and branches with transactions as needed. Provide support for the collections department and branch managers in fulfilling customer requests and merchant verifications.

Monitor and process loan payoff information and provide this communication to dealerships, insurance companies and all appropriate parties in an accurate and timely manner.

Follows all applicable regulations, including Bank Secrecy Act, and Anti-money Laundering.

Deliver outstanding service to internal and external members in alignment with the credit union's service standards.

All other duties as assigned.

Knowledge and Skills

Experience:

Six months to two years of similar or related experience, including time spent in preparatory positions.

• Experience working with bankruptcies, foreclosures and repossessions.
• Previous collection experience required.
• Administrative and supervisory experience beneficial.
• Strong member service and communication skills a must. Must possess the ability to communicate professionally and effectively via the phone.
• Must have the ability to multi-task and be flexible during your workday.
• Knowledgeable of laws that pertain to banking and collection practices

Education/Certifications/Licenses

• Education equivalent to a High School Degree or High School Diploma. College degree preferred.
• Valid Driver's License Required.

Interpersonal Skills

A significant level of trust and diplomacy is required to be an effective subject matter expert in the position. In-depth dialogues, conversations and explanations with customers, direct and indirect reports and outside vendors of a sensitive and/or highly confidential nature is a normal part of the day-to-day experience. Communications can involve motivating, influencing, educating and/or advising others on matters of significance.

Beacon Credit Union is an EEO employer - M/F/Vets/Disabled