Collections Support Specialist

Application deadline is 5 days after the date the role was posted.

Thank you for your interest in Bellco Credit Union! We're a local not-for-profit organization that has been giving back to our members, the communities we serve, and of course, our employees since 1936. Offering one of the best employee benefits packages around, Bellco is a leader in fostering, developing, and engaging staff to become expert financial-service ambassadors. You're a part of something more at Bellco-a place you can be proud of.

LOCATION : Loss Mitigation DIVISON : SVP - Consumer Lending

FUNCTION DESCRIPTION :

The primary function of this position is to ensure and expedite backend recovery efforts and collection support. This includes managing the department email box, sorting regular mail, charge-off of delinquent accounts, pull media for law firms, post funds to member accounts, document accounts where a member has passed away, process invoices and process reinstatement requests. Assist management with daily duty assignments and oversight of pipelines to ensure compliance with regulatory timelines. Ability to handle seriously delinquent accounts and members who are in financial difficulty to minimize losses.

ORGANIZATIONAL RELATIONSHIPS :

Reports to : VP - Collections

Contacts : Frequent contact with Bellco managers and employees and the public.

QUALIFICATIONS :

Education : High School Diploma

Experience : 2 years collections experience preferred.

SKILLS : Thorough understanding of CFPB, OCC, FDCPA, Fannie Mae, Freddie Mac, and FHA guidelines / regulations preferred.

Ability to manage multiple accounts and prioritize tasks effectively.

Ability to effectively present information and respond to questions from members, clients and managers.

Strong analytical skills required, with a high degree of accuracy.

Excellent communication skills, both verbal and written are required to effectively communicate professionally with clients, members, and staff of various levels.

Basic operation of all general office equipment.

Intermediate skills required in Excel, Word and Outlook.

Bilingual (English and Spanish) preferred but not required.

EQUIPMENT : General office equipment.

ESSENTIAL FUNCTIONS :

• Provides a valuable and enjoyable experience to both internal customers and members during interactions adhering to Bellco's Core Values and Act Nice Behaviors.
• Process checks and / or ACH posting to delinquent and / or charged-off accounts.
• Process membership reinstatement reviews / approvals.
• Distribute all incoming mail to proper channel.
• Research and gather information to respond to CFPB, DORA and member disputes / complaints.
• May represent Bellco in court appearances on Collection lawsuits.
• Assist with preparation of invoices e.g., Repossession, Loss Mitigation Vendors invoices, along with various Attorney Invoices etc.
• Documentation preparation including but not limited to, agency / attorney document requests.
• Monthly Agency / Attorney Remittance processing and balancing of remittance from agencies / attorneys.
• Oversee and assign charged-off accounts to collections agency / attorney monthly.
• Oversee all Collection Agency / Attorney processes and procedures.
• Responsible for monthly Agency reporting including but not limited to, Agency remittance, account acknowledgement and account close reports, and agency assignments.
• Daily collection activity on charged-off recovery accounts including, but not limited to negative share accounts, payment plans, deficiency balance accounts, collection activity for pre-charge off and post charge off accounts.
• Make decisions on charged-off accounts for alternative payment options.
• Back up for Repossession Specialist on an as needed basis; duties may include posting auction checks, paying repossession bills, answering repossession questions and backing up phone calls.
• Proactively supports corporate goals through maintaining effective collection / loss mitigation procedures on members' accounts.
• Recommend practices and procedures to improve the department and minimize losses.
• Perform account maintenance.
• Maintain current knowledge of the Fair Debt Collection Practices Act (FDCPA) Fair Credit Reporting Act (FCRA) and Telephone Consumer Protection Act (TCPA
• Assist other departments or branches with questions regarding charged-off accounts via telephone and email.
• Update third party collection agency / attorney with direct payment information for charged-off accounts.
• Approve release of liens for formerly charged-off loans.
• Keep management informed of pertinent information.

Management retains discretion to add or change duties at any time.

WORKING CONDITIONS : Office Environment

May include occasional visits to branches

Bellco Credit Union provides a comprehensive benefits package to employees, including : Medical, Dental, Vision, 401 (k) with company match, Supplemental Life Insurance, Paid Vacation, Paid Sick Days, and Paid Holidays.

In addition to base compensation, Bellco Credit Union offers bonuses for the following roles :

Non-exempt branch roles may earn monthly bonuses for meeting production goals and quarterly bonuses for meeting team goals.

Exempt branch roles may earn quarterly bonuses for production and team goals.

Exempt non-branch management roles may be eligible for an annual managerial bonus.

Non-branch non-management roles may be eligible for on-the-spot bonuses for extraordinary performance.