Member Solutions Specialist
Credit Union of Colorado is seeking a Member Solutions Specialist responsible for contacting members whose loan accounts are past due and arranging for liquidation of balances. The role involves financial counseling, managing delinquent accounts, and ensuring compliance with relevant laws and regulations.
Responsibilities
- Consistently contacts members whose loan accounts are past due or who have negative shares
- Interviews and communicates with members (on the telephone, in person and in writing) to coordinate payment schedules to control delinquency and losses
- Arranges for payments according to Collection Policy and Guidelines, Negative Share Collection Procedure, and Courtesy Pay Policy
- Documents all collections actions taken, including telephone conversations, alternative financial arrangements, and correspondence
- Performs financial counseling (remedial, preventative and productive) and interviews members to provide resolution to financial conditions
- Determines options for resolution and meets with Senior Member Solutions Specialists or Member Solutions Leadership to ascertain whether workout loans/rewrites are recommended
- Identifies the probability of payments, risk and assesses legal action including arranging assignment of vehicles to repossession specialist
- May assist in reviewing and updating credit union procedures and policies when necessary. (NEW)
- Utilizes resources effectively to manage delinquent accounts, ensuring smooth teamwork throughout the delinquency lifecycle
- Contacts members to provide updated insurance information and interfaces with Collateral Protection Insurance Company
- Interfaces with insurance agents to provide policy information
- Files claims if needed with Collateral Protection Insurance Company
- Prepares collection accounts for charge off and assists in preparing and distributing monthly reports (charge offs, delinquency, etc.) and reviews with leadership
- Prints, distributes and processes delinquency reports
- Recommends delinquent loans for charge off or repossession based on thorough analysis
- Assists members and employees to resolve problems on accounts
- Confers with personnel in other departments and branch offices to verify account information and locate related family members
- Uses software to perform skip tracing on members
- Assists Member Solutions Leadership with researching information, creating, compiling, and organizing
- Composes and types of collection and related correspondence for department
- Adheres to all Federal and State laws and regulations applicable to the credit union, including the Bank Secrecy Act, OFAC, the US Bankruptcy Code, Fair Debt Collection Practices Act, Fair Lending Regulations, the FACT Act and the Fair Credit Reporting Act
- Responsible for compliance with the Fair and Accurate Credit Transaction Act (FACTA), the Bank Secrecy Act (BSA) and the Anti Money Laundering Act, including monitoring for such illegal activity as it applies to this position
Skills
- Associate degree (A. A.) or equivalent from two-year college or technical school; or one to two years related experience and/or training; or equivalent combination of education and experience
- Knowledge of collection procedures and related laws and regulations
- Understanding of Credit Union loan products and policies
- Familiar with default and enforcement clauses
- Familiar with deposit programs, account ownership, and casualty insurance
- Knowledge of personal computer operations, with an emphasis in Microsoft products, including Microsoft Excel and Word
- Knowledge of Credit Union computer system in order to input and set up, new loans, file maintenance, transfers and all related transactions
- Ability to apply verbal and interpersonal skills that develop member confidence, respect and trust in Credit Union of Colorado and develop cooperative relationships with all levels of people throughout the organization
Benefits
- Pay-for-performance compensation program including bonuses for all employees
- Competitive benefits package
Company Overview