Collections Specialist

R I A Federal Credit Union; Pleasant Valley Township (IA); On-site; USD 38,000 - 48,000; Full time

Job summary

R.I.A. Federal Credit Union seeks a Collector to help improve members' financial well-being by assisting in delinquent and negative account collections.

The role emphasizes building relationships, ethical handling of finances, and professional communication. You will collect delinquent accounts, notify cosigners, prepare notices, and coordinate payment plans while maintaining confidentiality and compliance with laws.

Qualifications

• Maintain current knowledge of credit union philosophy, services and policies.
• Comply with federal and state laws and credit union policies in collection duties.
• Communicate with members to determine delinquency causes and develop repayment plans.
• Maintain confidentiality of member information and documents.
• Cross-sell credit union products and services.

Responsibilities

• Collect delinquent accounts and log activity in the collection system.
• Notify cosigners and co-applicants of delinquency status and follow up on payment arrangements.
• Produce delinquent loan notices and mail past-due notices.
• Assist in collection of negative accounts and returned checks.
• Process garnishments and levies as directed.
• Maintain secure, organized work area and professional image.
• Participate in meetings and continuing education.

Skills

Customer service

Banking experience

Collections experience

Communication skills

Attention to detail

Education

High School Diploma or GED

Job description

At R.I.A. Federal Credit Union, the primary focus of the Collector is to improve the financial well-being of our members. Assist in the collection of delinquent and negative accounts. This is accomplished through:

Relationships:

Building relationships is integral to the success of R.I.A. As a community credit union, R.I.A.s Collectors will invest the time to get to know members and take care of their needs while finding opportunities to improve their financial well-being.

Integrity:

In an era of big banks and big data, operating with integrity is becoming a more difficult trait to find in a financial institution. An R.I.A. Collector is committed to handling members finances and data in a manner that is ethical, transparent, and professional.

Action:

Not content with business as usual, R.I.A. is action oriented. From helping a member solve a financial challenge to positively impacting the community through volunteering and sponsorships, R.I.A. is motivated to action.

Essential Functions

Reasonable accommodations can be made to enable individuals with disabilities to perform the essential functions.

1. Maintain current knowledge of credit union philosophy, services and policies. Maintain current knowledge and understanding of federal and state laws and regulations as they relate to the duties assigned and ensure that the proper collection policies and procedures are followed.

2. Collect delinquent accounts updating and logging activity on the credit unions collection system. Contact Member to determine the reasons for delinquency and assist them in developing plans to bring accounts to a current status. Notify cosigners and co-applicants regarding status of delinquent accounts. Answer member and coworker inquiries regarding delinquent accounts and investigate and reconcile problems. Monitor and follow up on payment arrangements on accounts assigned. Answer general collection questions made in person, writing or by phone from members and staff regarding loan payments and past due accounts. Obtain credit bureau and skip tracing reports as needed. Maintain on-going communication with supervisor, informing him/her of all pertinent problems, irregularities, new developments, changes and other important information within areas of responsibility. Ensure that all information and transactions regarding members, employees, and other credit union business is kept confidential. Cooperate with other personnel to ensure a team effort and prompt member service.

3. Produce delinquent loan notices, verify the status of the loan, and mail past-due notice to member and cosigner/co-borrower. Follow-up delinquent notices with collection letters and/or telephone calls. Prepare and submit for approval necessary documentation on loans to be extended or refinanced. Offset delinquent loans with funds from member or co-maker/co-signer share accounts as directed.

4. Assist in the collection of negative accounts and returned checks.

5. Process garnishments and levies as directed.

6. Maintain the security of your work area and keep it organized and neat in appearance. Maintain and enforce maximum security over valuables and documents on hand according to policies and procedures. Promote and maintain a positive image of the credit union and a professional, courteous attitude to co-workers, members, management and the community.

7. Promote and cross-sell credit union products and services.

8. Participate in continuing education as requested. Attend and participate in meetings as required. Protect and respect credit union property, equipment and supplies.

Competencies

• Integrity
• Dependable/Adaptable
• Ability to work independently/on a team
• Social perceptiveness
• Persuasion
• Ability to deal with unpleasant or angry or disgruntled members; working effectively in stressful situations.
• Documenting/Recording Information
• Organizing, planning and prioritizing work
• Maintain financial or account records and monitor information as necessary
• Manage Financial Arrangements
• Discuss Account status or activity with all stakeholders
• Resolving Conflict /Negotiating with Others
• Confidentiality
• Financial /Business Acumen
• Respectful
• Collaborative
• Can learn and evolve
• Trustworthy
• Ethical Practice
• Trustworthy/listens well
• Attention to detail and solid organizational skills
• Strong written and verbal communication skills
• Takes initiative/problem solves
• Relates well to employees at all levels/relationship-builder

Supervisory Responsibility

No supervisory responsibilities.

Physical Demands

The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job.

While performing the duties of this job, the employee is regularly required to spend considerable time sitting at a desk, complete work using a computer, regularly answer phone calls, and interact with employees at all levels of the organization. The employee will occasionally lift and move up to 25 pounds.

Type/Expected Hours of Work

This is a full-time position. While normal hours of work and days for R.I.A. Federal Credit Union are Monday through Friday, 8 a.m. to 5 p.m., and Saturday 9:00 a.m. to 1:00 p.m. hours for this position reflect branch attendance but may vary based on job related requirements.

Travel

Less than 10% travel is expected for this position; some local travel in the Quad City area.

Required Education and Experience

• High School Graduate or G.E.D, required.
• Experience in customer service, banking and/or collection experience; preferred.

EEO Statement

R.I.A. Federal Credit Union believes in equal employment opportunity for all employees and applicants for employment. Our companys success depends on the effective utilization of qualified individuals regardless of their race, creed, color, religion, sexual orientation, age, ancestry, national origin, disability, military or veteran status or any other characteristic protected by law. We will not discriminate on the basis of these characteristics in a personnel action including, but not limited to, hiring, training, promotions, transfers, demotions, benefits, compensation, discipline, termination and any other conditions or privileges of employment.

Other Duties

Please note this job description is not designed to cover or contain a comprehensive listing of activities, duties or responsibilities that are required of the employee for this job. Duties, responsibilities and activities may change at any time to adjust and adapt to the changing needs of the business. Qualifications: