Loss Mitigation Associate at Frontier Credit Union

Idaho Falls, Idaho, United States -

Full Time

Start Date

Immediate

Expiry Date

09 Apr, 26

Salary

0.0

Posted On

09 Jan, 26

Experience

0 year(s) or above

Remote Job

Yes

Telecommute

Yes

Sponsor Visa

Skills

Collections Experience, Bilingual, Credit Union Knowledge, Communication Skills, Professionalism, Documentation Skills, Problem Solving, Customer Service, Attention to Detail, Time Management, Persuasion Skills, Stress Management, Computer Proficiency, Confidentiality, Teamwork, Independence

Industry

Financial Services

Description

Description Position Overview: The Loss Mitigation Associate is responsible for planning, organizing, and performing collection activities associated with delinquent loans, negative share accounts, and returned checks. Utilizes knowledge of collection policies and procedures to establish goals and objectives. Reviews delinquent accounts, determines probable reasons for account status, and contacts members to resolve the delinquencies. Utilizes various techniques, as circumstances indicate, to promptly collect on delinquent accounts. Prepares and completes related documentation. Essential Functions: Performs collection activities associated with delinquent loans, negative shares, and returned checks Follows delinquency, negative shares and returned check notices Contacts members by telephone and through other methods, provides them an opportunity to fully explain their loan status, discusses possible financial arrangements, and seeks to secure a satisfactory resolution to loan delinquencies and negative accounts Educates members of potential legal actions, credit impact, and long-term effects of not satisfying obligations Utilizes further appropriate collection methods if initial attempts do not secure required payment; Follows up on assigned accounts until delinquency is resolved Documents all collection actions taken, including telephone conversations, alternative financial arrangements, and correspondence; Updates files with accurate record of activity Prepares regular reports and summaries that indicate the type and status of delinquent accounts and collection activities Researches loan accounts that appear on late/potentially late records to ensure that Credit Union errors are detected promptly Maintains records accurately for collection of accounts charged to reserves Utilizes effective tact and various forms of persuasion to collect while presenting a positive Credit Union image Maintains composure and respect under stressful circumstances such as talking to potentially irate and insulting members Answers member questions and complaints relevant to Department functions Extends due dates or refers members to Loan Officers for refinancing of delinquent loans Recommends actions regarding charge-offs. Continues related collection efforts Ensures that collection efforts are performed in accordance with Credit Union policies and procedures and are legally compliant Keeps accurate and up-to-date activity reports on late, potentially late, and delinquent loan lists. Provides exceptional internal and external member service Understands, applies, and complies with all Credit Union Policies and Procedures, State and Federal laws and regulations, and adheres to requirements set forth by the Bank Secrecy Act (BSA) Requirements Qualifications/Skills: High school graduate or equivalent Bilingual (English/Spanish) preferred Collections experience preferred Understanding of credit union loan products and procedures Understanding of account products and procedures Ability to learn collections procedures and related laws and regulations; Must continue to increase and maintain knowledge Consistently complies with all state and federal regulations as well as EICU policies and procedures Proficient writing ability to maintain accurate reference of discussions and agreements Operate a computer with proficiency of MS Office; Excellent knowledge of report software and processes Ability to learn additional software programs specific to job duties Persistence and professionalism are vital to the successful execution of this position and maintaining the professional image of the credit union Communicate with courtesy, tact, and diplomacy in person and over the phone Perform job functions independently with limited supervision; work effectively on own and as part of team Ability to read and carry out various written instructions and follow verbal directions Must remain composed in stressful, high-pressure situations. Calmly and professionally handle different personalities from diverse cultures at various levels within and outside of the organization and demonstrate highest levels of member service Demonstrate extreme accuracy and quality, effectively handle multiple tasks and changing priorities, and exercise highest level of discretion on both internal and external matters Maintain confidentiality in all matters Reports to work regularly; maintains reliable and timely attendance. Available to work days and hours as dictated by business needs; includes Saturday shifts Physical Requirements: Bend, sit, or stand to perform primarily sedentary work with limited physical exertion. Operate routine office equipment including computer terminals, keyboards, telephones, copiers, and calculators. Work on computer for up to 8 hours per day. Some locations may require ability to climb or descend stairs with minimal assistance in emergency situations.

Responsibilities

The Loss Mitigation Associate is responsible for performing collection activities related to delinquent loans and accounts. This includes contacting members to discuss their account status and working towards satisfactory resolutions.