Payment Solutions Specialist

Summit Credit Union; Town of Cottage Grove (WI); On-site; USD 40,000 - 70,000; Full time

Job summary

An established industry player is seeking a dedicated Payment Solutions Specialist to join their dynamic team. This role is pivotal in managing delinquent accounts, requiring a deep understanding of collection laws and consumer loan documents. You will engage with members to resolve delinquencies, provide guidance to internal staff, and ensure compliance with various regulations. If you have a passion for helping others and possess strong interpersonal skills, this is an excellent opportunity to make a meaningful impact in a supportive and rewarding environment.

Qualifications

• 2+ years in collections, preferably in a retail financial institution.
• Knowledge of consumer collections compliance and regulations.

Responsibilities

• Collect delinquent loans and credit card accounts as assigned.
• Review accounts to determine causes of delinquency and follow up.

Skills

Interpersonal Skills

Problem Solving

Communication Skills

Mathematical Skills

Knowledge of Collection Laws

Education

High School Diploma

Post Secondary Business Course

Tools

Microsoft Office Suite

Job description

Are you looking for a rewarding career where you can help make a difference in someone's life? Are you looking to work for Top Workplace? If yes, Summit has the opportunity for you to join our amazing team as a Payment Solutions Specialist. Under the direction of the Assistant Vice President - Payment Solutions, this position is responsible for performing a variety of activities regarding delinquent accounts. This position requires vast knowledge of collection and bankruptcy laws and practices, and knowledge of consumer and mortgage loan documents.

Essential Functions

• Collection of delinquent loans, credit card or negative share accounts as assigned.
• Review accounts in an effort to determine cause of delinquency.
• Make arrangements with member to resolve delinquency and continue follow-up contact as needed.
• Direct the posting of payments received to delinquent accounts.
• Process consumer credit counseling requests and maintain monitoring of said accounts to ensure timely payments, including the posting of payments.
• Evaluate requests for loan extensions, prepare required documentation and adjust accordingly.
• May make a recommendation to the member regarding possible rewrite of their loan.
• Recommend delinquent accounts for legal action or charge-off.
• Bankruptcy:
• Apprise legal collection to any member that has filed bankruptcy.
• Use knowledge of Payment Solutions operations to provide assistance and guidance to internal and branch staff.
• Provide background information to lenders upon request.
• Assist MSR’s with restrictions and overrides.
• Available to answer member queries regarding disputes on loans (liens releases, collateral, liability issues).
• Maintain accurate and timely documentation on individual member accounts.
• Provide collection assistance to other departments.
• Other related duties as assigned.
• Understand and is accountable for executing all job functions in a way that is consistent with all requirements of BSA, OFAC and the USA Patriot Act/Customer Identification Act (CIP).

Note: Failure to comply with requirements may be subject to strong disciplinary action, up to and including termination by the credit union, as well as, civil and criminal penalties.

Additional Functions

• Other duties as assigned by manager. Your primary duties are set forth in your job description, however, there may be times, at the discretion of management and company needs, where you may work in a different position or area with duties that correspond to the position and business need at that time.

Job Specifications

• High school diploma or equivalent and post secondary business related course work.
• Two years’ experience in a collections environment, preferably a retail financial institution and experience in a high volume customer service environment.
• Have or be able to attain a Nationwide Mortgage Licensing System (NMLS) number.
• Professional, well-developed interpersonal skills essential for projecting a positive image as representative of the Credit Union.
• Work requires knowledge and understanding of consumer collections compliance and regulation as it relates to best practices and handling of collection matters on delinquent accounts including, but not limited to the following regulations: Wisconsin consumer act, Telephone Consumer Protection Act (TCPA), Fair Credit Reporting Act (FCRA), Fair and Accurate Credit Transaction Act (FACTA)
• Work requires knowledge of Microsoft Office Suite.
• Mathematical skills required.
• Understanding of the role and effect of collections in a financial institution.
• Effective oral and written communication skills.
• Ability to use effective problem solving to make risk-based decisions.
• Ability to work independently with minimal supervision.

At Summit we cover more ground, give more back and have more fun. Come be a part of something bigger!

At Summit Credit Union, we are committed to providing Equal Employment Opportunity regardless of race, color, religion, sex, age, national origin, disability, military and veteran status, sexual orientation, gender identity, marital status or any other characteristic protected by local, state, or federal law. We embrace diversity and believe that inclusion is critical to our success as a credit union. Different makes us better. Employment decisions are made based on qualifications, merit and business need.

Equal Opportunity Employer/Protected Veterans/Individuals with Disabilities