Collections Specialist
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Job Description
The Collections Specialist plays a key role in protecting the Credit Union's financial assets by effectively managing delinquent loan accounts and supporting recovery of charged-off balances. This position is responsible for contacting members with past-due accounts, identifying solutions that help members resolve their obligations, and minimizing financial loss to the Credit Union. The ideal candidate balances strong communication and negotiation skills with professionalism, confidentiality, and a member-focused approach.
Key Responsibilities
Monitor and manage a portfolio of delinquent loan accounts, including consumer, auto, and other lending products.
Contact members by phone, email, and written correspondence to resolve past-due balances.
Work with members to establish repayment plans, loan modifications, or other solutions that bring accounts current.
Investigate account histories and payment activity to determine appropriate collection actions.
Document all collection activity accurately in the Credit Union’s system.
Follow established collection policies, procedures, and regulatory requirements.
Assist with recovery efforts on charged-off accounts, including coordinating with third-party collection agencies when applicable.
Identify potential repossession, legal action, or other recovery options and escalate when appropriate.
Maintain a professional and member-focused approach while addressing sensitive financial situations.
Collaborate with the lending and member service teams to support effective account resolution.
Meet or exceed departmental collection goals and performance standards.
Automate your job search with Sonara.
Submit 10x as many applications with less effort than one manual application.