As a Loan Counselor, you will negotiate payment arrangements with borrowers on delinquent accounts, offer suggestions as to how they can meet obligations, propose alternative methods, establish payment procedures, monitor to ensure the borrowers commitment to pay is kept and document all collection actions in the system following all Fair Debt Collection Practices Act (FDCPA) and all other applicable regulatory requirements. Additionally, you will assign vehicles for repossession and network with repossession agents and investigation companies in an effort to locate collateral.
RESPONSIBILITIES & DUTIES
Performs all activities related to collecting amounts due on consumer and real estate loans in compliance with Xceed Financial Credit Unions policies, procedures and practices as well as all state and federal regulations including all requirements of the Fair Debt Collection Practices Act (FDCPA).
General knowledge of bankruptcy, FDCPA Guidelines, Litigation.
Place calls daily (outbound and inbound) to borrowers collecting on their delinquent accounts as assigned by supervisor.
Recommend accounts for charge-off, repossession, litigation, modification, and foreclosure.
Make recommendations and provide solutions in accordance with modification guidelines to assist Members in resolving their delinquent status to avoid charge offs.
Negotiate payment arrangements with Members such as promises to pay, electronic check payments or money orders as requested by the borrower.
Accurately and professionally document systems with details of current contacts and subsequent results.
Skip trace using tools provided by the company as well as any personal experience and personal tools.
Ability to work late shifts and Saturday hours occasionally.
Assists with various projects as assigned at any given time.
Generate and document various collection notices.
All other responsibilities or duties as assigned to ensure workload coverage, which may change or new ones may be assigned at any time.
Comply with Bank Secrecy Act (BSA) and Office of Foreign Assets Control (OFAC) requirements as described in the Credit Union's Customer Information Program (CIP), BSA and OFAC Procedures, including recognizing and reporting suspicious and/or CTR reportable activity to the BSA Officer and completing the job-specific required annual BSA/OFAC training as scheduled (with a passing score of 80% or more).
High school degree or equivalent required.
Must have a minimum of 2 - 3 years recent consumer collections experience.
Ability to understand and discuss personal and financial difficulties.
Ability to analyze and negotiate payment arrangements.
Ability to ascertain risk and recognize loss potential.
Demonstrated ability to multitask and work in a fast-paced environment
Ability to navigate in multiple computer systems while interacting with the customer
Solid understanding of the inbound and Outbound Collection environment
Flexible with schedule as business needs arise
Must have experience performing a high volume of outbound calls and member service skills.
Bilingual English/Spanish is highly preferred.
Excellent oral and written communication skills in one-on-one and group environments.
Ability to work independently and in teams.
Must have working knowledge of Word, Excel, PowerPoint, and Outlook.
Must be able to analyze and solve problems, including performing analysis and producing professional documentation with recommendations.
Ability to understand rates, ratios, and percentages, and draw and interpret graphs
Must have the ability to occasionally lift and/or move up to 10 pounds