Debt Recovery Specialist

1 week ago


Rochester, Minnesota, United States Mayo Employees Federal Credit Union Full time
Job Summary

We are seeking a highly skilled Debt Recovery Specialist to join our team at Mayo Employees Federal Credit Union. As a key member of our collection team, you will be responsible for resolving delinquent accounts and ensuring that our members receive timely and effective support.

About the Role

This is a full-time position that requires strong communication skills, a calm demeanor, and excellent problem-solving abilities. The ideal candidate will have a minimum of two years of collections experience or three years of experience working in a financial institution.

Duties and Responsibilities
  • Delinquency Resolution: Collaborate with members and outside vendors to resolve delinquent accounts by maintaining accurate records, determining the reason for delinquency, and exploring options for restructure, extension, or settlement.
  • Collateral Management: Manage repossession and disposal of collateral, including tracing borrowers, determining when to place accounts with outside sources, and coordinating repossession efforts.
  • Reporting and Compliance: Analyze and prepare monthly delinquent reports, review loan reports, assign charged-off account balances, and provide listing of accounts to be charged-off at board meetings.
Requirements

To be successful in this role, you must possess a high school diploma or equivalent and meet the education and experience requirements outlined below:

  • A high school diploma or equivalent AND at least two years of collections experience, OR three years of experience working in a financial institution.
  • All employees must be bondable by MEFCU's insurance policy. Continued employment is subject to maintaining favorable bondable status per insurance standards.
Compensation

The estimated salary for this position is $23.50 per hour, based on industry standards and location. Please note that this figure is subject to change and may not reflect the actual starting salary range, which is between $21 - $24 per hour.



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