Credit Resolution Representative Iii
1 week ago
**The Credit Resolution Representative III, performs as an experienced, representative with advanced communication and negotiation skills when interacting with members for prompt resolution of delinquent accounts to minimize WPCCU non-performing asset accounts and promote account retention. Collections Specialist is responsible for reducing risk and minimizing financial losses associated with member accounts, including Visa credit cards, lines of credit, secured loans, signature loans, real estate loans, and home equity lines of credit. This role involves providing workout assistance to members in default or at risk of default through outreach, financial counseling, and offering loan forbearance, repayment plans, deferrals, and modifications. Compliance with credit union Board policies, NCUA, state, and federal regulations is essential.**
**Major Duties and Responsibilities**:
- Actively engage members with delinquent accounts to collect on delinquencies, ranging from 1 day past due to charge-off.
- Contact members within FDCPA, reg F (CA Rosenthal Act) and TCPA guidelines to resolve delinquent accounts.
- Ensure compliance with all Credit Resolution service standards and regulatory requirements, including FDCPA, TCPA, SCRA, MLA, and other relevant regulations.
- Stay informed of corporate policy changes and maintain continuous product knowledge on all Credit Union loan products and services.
- Provide technical collection support, training, and guidance to branches and other service centers.
- Evaluate and manage loan risks, recommending escalation actions such repossession, workouts, Litigation and charge-offs.
- Locate assets using skip tracing techniques to locate collateral or assets in high-risk cases.
- Collaborate with third-party collection agencies, Collections service provider and Asset Recovery companies to optimize recovery on non-performing asset accounts.
- Process and monitor third-party collection agency requests, ensuring compliance with current regulations and industry best practices.
- Maintain positive working relationships with all members, credit union departments, and branches in adherence with the credit unions core values and code of conduct.
- Update relevant systems with member communication, notes, and action items.
- Process and update workout tracking reports on a daily basis.
- Process, review and audit vendor invoices.
- Assist management with other duties as assigned.
- Prepare necessary analysis and documentation to complete loan workouts, repossession, Foreclosure, other workout options, Identify and submit qualifying cases to Assistant Manager for approval.
- Analyze member financial documentation to determine the most effective workout option.
- Negotiate and follow up on payment arrangements with delinquent members, including reinstatements, workouts loans and counseling members.
- Work with debt management companies, insurance companies, and attorneys.
- Review Bankruptcy filing to ensure Credit Union loans meet discharge criteria and work with law firm to file appropriate petitions as prescribed by statue.
- Communicate and interact with members, Trustees, Estates and Attorneys to mitigate losses.
- Represent the credit union in bankruptcy and Litigation proceedings.
- Process suit authorizations, negotiation offers, verifications of debt (VODs), complaints and disputes in a timely manner.
- Participate in monthly vendor compliance and production meetings.
- Possess a high level of knowledge of the Credit Union's products and services, and areas of specialty in Credit Resolution such as negative shares, repossessions, suits, foreclosures, bankruptcies, reinstatement and redemption, charged-off accounts, and expulsions.
Essential Functions:
**PHYSICAL SKILLS. ABILITIES. ANQ EXERTION UTIIZEQ IN THE PERFORMANCE OF THESE TASKS;**
- Effective oral and written communications skills required to perform day to day functions.
- Must possess sufficient manual dexterity to skillfully operate an on-line computer terminal and other standard office equipment, including a typewriter, adding machine, personal computer, facsimile machine, and telephone.
ORGANIZATIONAL CONTACTS & RELATIONSHIPS;
- INTERNAL: All staff levels, including Manager Real Estate Loss Mitigation, Collections, Consumer Loan Servicing, Real Estate, Equity, Accounting, Finance, Internal Audit, Credit Risk Management, and IT.
- EXTERNAL: Members, vendors, and peers in financial institutions.
PHYSICAL REQUIREMENTS;
- When in the office, prolonged sitting throughout the workday to accomplish tasks.
- Corrected vision in the normal range to read loan documents submitted by members.
- Corrected hearing in the normal range. A telephone device will be provided if needed.
- Long work hours may be required to accomplish tasks, including evenings and weekends.
THIS JOB DESCRIPTION IN NO WAY STATES OR IMPLIES THAT THESE ARE THE ONLY DUTIES TO BE PERFORMED BY THIS EMPLOYEE. HE OR SHE WILL BE REQUIRED TO FOLLOW OTHER INS
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