Consumer Loan Recovery Specialist

1 week ago


Redwood City, California, United States Monterra Credit Union Full time

Monterra Credit Union is a community-centric and growth-oriented financial institution that invests in the success of people and our community. Our mission is to passionately deliver relevant products, services, and education tailored to help our members, employees, and communities achieve their financial goals.

The Financial Assistance Specialist plays a crucial role in helping us achieve this mission by being responsible for delinquent loans at least 11-days past due and initiating calls, researching applications, and skip tracing to resolve delinquency.

Responsibilities:
  • Initiates telephone contact on loans at least 11-days past due and monitors all past due loans in these aging categories to assure receipt of payment
  • Frequently follows-up on a daily basis on any promises that were not kept, making the necessary telephone contact as required
  • Maintains complete documentation of collection activity on our system and flags delinquent accounts as required
  • Responsible for recovery of all negative share accounts and follow-up
  • Recommends repossessions for final review and approval
  • Responsible for closing Visa line of credit based on member's payment record/credit scores
  • Reconcile member disputes i.e. misapplied payments, reversal of finance charges, and late fees when it is deemed necessary
  • Recommends workout loans and extension agreements for final review and approval
  • Initiates skip tracing techniques to locate member for recovery of security and legal action
  • Responsible for collection related bills and collection agency communication

We are seeking an experienced individual with a strong working knowledge of the Fair Debt Collection Act and other state laws as required. The ideal candidate will be able to understand and execute instructions accurately and efficiently, manage multiple tasks, and meet established goals. Additionally, they should demonstrate flexibility, tactfulness, and persistence in the daily follow-up of loan repayment.

In exchange for your hard work and dedication, we offer a competitive salary range of $28.00 - $32.00 per hour depending on experience, bilingual pay incentives (English/Spanish or English/Tagalog), semi-annual bonuses for meeting key financial and operational goals, medical, dental, vision, life, and long-term disability insurances, 401(k) including generous matching contributions, discounts on financial products and services, paid time off, tuition reimbursement, and much more.

We strive to create a diverse, inclusive, and equitable workplace where everyone feels valued and respected. If you value collaboration, forward-thinking, and giving back, and have what it takes to succeed in this role, please consider joining our team.



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