Senior Collector & Recovery Specialist

Great Lakes Credit Union; Bannockburn (IL); On-site; USD 35,000 - 53,000; Full time

Benefits offered by this job

Health Insurance

Disability Insurance

401(k) Plan

Paid Time Off

Tuition Reimbursement

Career Development

Employee Recognition

Job summary

Great Lakes Credit Union in Bannockburn, IL seeks a Sr. Collector to manage complex past-due accounts and lead recovery efforts. You will leverage knowledge of loan types, shares, repossession, and FDCPA compliance to mitigate losses and maximize recoveries.

You will handle charge-offs, settlements, and post-charge-off collections, supervise in collaboration with the Collections team, and mentor staff while ensuring adherence to policies and applicable law.

Qualifications

• Minimum of five years experience as a collector or in commercial/consumer collections.
• Strong knowledge of foreclosure, repossession, debt restructures, charge-offs, recoveries, and third-party collections.

Responsibilities

• Maintains follow-up on past-due accounts >30 days and negotiates deferred payment plans.
• Manages repossession from placement through sale and posting of proceeds.
• Files for refunds of ancillary products in repossession matters.
• May appear in court proceedings as a witness for the credit union.
• Reviews and may authorize settlements on charged-off accounts within approved limits.
• Refer accounts to agencies/attorneys for post-charge-off recovery.
• Monitor lien perfection within assigned queue (vehicle & consumer loans).
• Negotiate repayment agreements in collections/legal cases.
• Review and advise on settlement offers to Management.
• Assist with departmental audits and internal controls.
• Cross-train with other departments impacting Collections.
• Assist with monthly charge-off processes for loans and shares.
• Maintain compliance with all applicable laws and GLCU policies.

Skills

Collections experience

Credit analysis

Negotiation

Skip tracing

Tools

FDCPA knowledge

Job description

Great Lakes Credit Union in Bannockburn, IL seeks a Sr. Collector to manage complex past-due accounts and lead recovery efforts. You will leverage knowledge of loan types, shares, repossession, and FDCPA compliance to mitigate losses and maximize recoveries.

You will handle charge-offs, settlements, and post-charge-off collections, supervise in collaboration with the Collections team, and mentor staff while ensuring adherence to policies and applicable law.