Collections Specialist (FT)
Full Time
Denver, CO 80216
Posted
Job description
The
ROCKY MOUNTAIN LAW ENFORCEMENT FEDERAL CREDIT UNION has an opening for a Collections Specialist. This person must have excellent phone and email communication skills. Experience is preferred working in a Credit Union or Bank. Training will be provided on Credit Union policies and services. The position is in the office at the Credit Union located at 700 W. 39th Ave., Denver, CO.
This position offers room to grow and advance. The Credit Union's policy is to promote from within. In addition to a competitive salary, the Credit Union offers a comprehensive health benefits package, a generous PTO plan, paid holidays, and eligibility for participation in the 401K plan.
This position offers room to grow and advance. The Credit Union's policy is to promote from within. In addition to a competitive salary, the Credit Union offers a comprehensive health benefits package, a generous PTO plan, paid holidays, and eligibility for participation in the 401K plan.
Summary:
Ensures controls over delinquent accounts/loans through direct member contact and third-party collection vendors. Initiates appropriate action and maintains detailed records. Processes insurance adjustments necessary for the position and follows through on member research as needed.
Essential Responsibilities include the following:
- Reviews the status of delinquent accounts daily and facilitates the collection process.
- Prepares correspondence on delinquent accounts requiring special handling.
- Skip-traces accounts according to established practice.
- Researches disputed delinquent account balances.
- Initiates repossession orders as authorized, mails member correspondence to pay the balance in 10 days, and notifies attorney for further litigation proceedings. Answers any questions about repossessions and prepared paperwork necessary to sell or dispose of automobiles.
- Initiates actions with attorneys for small claims on accounts three months past due or sends paperwork to an attorney for any balances not filed in civil court.
- Reviews accounts to be recommended for charge-off and assist in report preparation.
- Participates in the monthly Past Due meeting and reports the status of all delinquent accounts assigned.
Breakdown of Duties:
- Review 10 to 30 days to see if a current RTC is on file.
- Send Right to Cure letters when necessary.
- Work all delinquencies 30 days and over.
- Handle incoming collection calls as they come in.
- Make payment arrangements with members and place contacts on accounts.
- Bankruptcies- work any new BK’s, including in-house loss mitigation.
- Garnishments- process as they come in.
- Assign accounts to an attorney and CU Recovery - loans and closed negative accounts.
- Input check-by-phone payments when received; Post check-by-phone payments.
- Order repossessions when necessary; disposition of vehicles after repossession.
- Send 10-day pre-sale and 10-day post-sale letters as needed.
- Request GAP and warranty refunds on repossessions and/or total losses.
- Foreclosures – maintain a spreadsheet for the status of foreclosures.
- Negative accounts- process internally and via outside vendors as necessary.
- Charge off loans as needed, including keeping updated records for approval and tracking of charge-offs for board and management.
- Month-end reports: Delinquency statistics, DPDQ report, Recoveries by name and type, bankruptcies, late fees, write-offs, etc.
Education and/or Experience:
- Associate Degree in business, or equivalent, and three years experience in credit and collection work.
- Has a working knowledge of the Fair Debt Collection Act and state and federal laws concerning collection activities.
Skills Required:
A significant level of trust and diplomacy is required, in addition to normal courtesy and tact. Work involves extensive personal contact with others and/or is usually of personal or sensitive nature.
This job description is not a complete statement of all duties and responsibilities comprising this position.
Rocky Mountain Law Enforcement Federal Credit Union, once known as the Denver Police Federal Credit Union, was established in 1938 and initially served the officers of the Denver Police Department. The Credit Union has expanded its field of membership to include numerous other law enforcement agencies. Products and services at RMLEFCU have kept pace with and often exceeded those offered in the financial service marketplace.
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