Collections Counselor

Role: To preserve the Credit Union's assets by controlling delinquent loan accounts, collecting delinquent loan payments, negative account balances and/or recovering collateral.

Essential Functions & Responsibilities

• Contacts delinquent/overdrawn accounts by phone and mail; takes appropriate action to correct the delinquency or negative balance.
• Analyzes financial condition of delinquent borrowers; makes recommendations for extension agreements, payment modifications, and workout loans when applicable.
• Assists members and credit union employees with their telephone requests; answers questions about delinquent accounts that are within their authority to resolve; refers problems that are beyond their authority to their supervisor, along with their recommendations.
• Ensures the appropriate records are maintained and required reports are prepared on all collection activity including current delinquency and charged off accounts.
• Performs clerical duties to support the Collection Department Staff which includes research, file maintenance, payments postings, and acting as a liaison between member, credit union, and collateral protection insurance company.
• Informs management of trends in loan underwriting contributing to delinquent/charged-off loans.
• Performs other job-related duties as assigned.

Performance Measurements

• Maximize the collection and/or recovery of credit union assets from delinquent and charged-off accounts.
• Maintain accurate and complete records of all collection and recovery activity.
• Adhere to provisions as set forth in the Fair Debt Collection Practices Act (FDCPA) and ensure collection activity is always within Credit Union policy and all relevant regulations.
• Identify and inform management of potential underwriting problems.
• Provide informed, professional, and accurate service and support to all members and employees.

Knowledge and Skills

Experience: One year to three years of similar or related experience.

Education: A high school education or GED.

Interpersonal Skills: Courtesy, tact, and diplomacy are essential elements of the job. Work involves much personal contact with others inside and/or outside the organization for purposes of giving or obtaining information, building relationships, or soliciting cooperation.

Other Skills: Must have excellent communication skills and versatility in collection techniques in order to obtain the desired collection results. Must possess good organizational skills. Must exhibit good decision-making skills and be able to provide support to other position within the department.

Physical Requirements: Light lifting required.