Delinquency & Collections Specialist

Teachers Federal Credit Union; Hauppauge (NY); On-site; USD 3,513,000 - 4,202,000; Full time

Benefits offered by this job

Bonus program

PTO

401(k)

Dental & Vision premium

Tuition reimbursement

Loan discounts

Job summary

Teachers Federal Credit Union in Hauppauge, NY seeks a collector to initiate contact with delinquent members by phone, mail, or visit to recover loan payments and settle accounts. Responsibilities include handling repossession topics, updating records, and recommending loan repayment strategies to management.

The role requires an Associate's degree or 4 years related experience, strong communication skills, and familiarity with debt collection regulations.

Qualifications

• Associate's degree required or four years of directly related experience
• Minimum four years of related experience required
• Microsoft Applications, including Excel and Word required
• Regulations and policies regarding debt collection and collection law required
• Akcelerant preferred
• DNA preferred
• Effective written and verbal communication skills
• Strong attention to detail and accuracy
• Ability to successfully manage multiple tasks and meet tight deadlines
• Repossession regulation, Skip tracing, State regulation, Bankruptcy Law preferred

Responsibilities

• Collect outstanding balances on loans to minimize credit union losses by receiving and reviewing loan activity reports to determine the status of all loans outstanding.
• Contact or meet with members to begin a dialogue and obtain a reason for delinquency, discussing corrective actions and potential repayment options and researching to verify allegations of payments made
• Engage in skip-tracing activities and research to locate members
• Note all pertinent information on accounts and follow up with member to inform them of loan status
• Send letters to members to request loan payments and to explain the possible outcomes of non-payment
• Restrict accounts for the automatic withdrawal of money to satisfy loans outstanding or for severe delinquency status, closing lines of credit or credit cards when required
• Review loss mitigation options with members and recommend loan repayment strategies to Management, referring hardship cases to management
• Recommend collateral for repossession and work with members during the redemption process and recommend account placement with collection agencies or attorneys
• Receive and respond to calls for information or assistance with regard to loan payments
• Handle calls related to vehicle repossessions for redemptions or liquidation of collateral
• Stay current on all state and federal guidelines, and participate in on-going training as industry evolves
• Make recommendations on policy and procedure changes
• Adhere to all Credit Union procedures, State and Federal Regulations and the Consumer Financial Protection Bureau (CFPB)
• Perform other duties as needed upon request from immediate supervisor

Skills

Communication

Attention to detail

Multi-tasking

Verbal communication

Written communication

Education

Associate's degree or 4 years related experience

Tools

Akcelerant

DNA

Microsoft Office

Job description

Teachers Federal Credit Union in Hauppauge, NY seeks a collector to initiate contact with delinquent members by phone, mail, or visit to recover loan payments and settle accounts. Responsibilities include handling repossession topics, updating records, and recommending loan repayment strategies to management.

The role requires an Associate's degree or 4 years related experience, strong communication skills, and familiarity with debt collection regulations.