Description

COMPANY PROFILE

Del-One Federal Credit Union (Del-One) is a member-owned, financial cooperative and has been a part of the community for over 60 years. The mission of Del-One focuses on helping members to live a better financial life. Del-One staff work as member advocates; learning about their needs and wants and helping them to find ways to reach their financial goals. Del-One is more than just a full-service financial institution with 11 branch locations throughout Delaware. It is a place where members are treated like family, are encouraged to discuss their goals and where they will receive assistance in creating and building their own financial success stories. 

In addition to being Delaware’s largest credit union, Del-One has been recognized as a “Top Workplace” and “Best Credit Union” seven consecutive years. Del-One is strategically positioned to deliver on the organization’s brand promise of providing value to its membership through innovative product development and exceptional service. Del-One continues to create compelling career and professional development opportunities up and down the organization recognizing the success of the credit union is driven by the engagement and strength of the team.

POSITION PURPOSE

Responsible for performing collection activities associated with charged off member accounts, concentrating on unsecured loans including Visa credit, signature loans and balances deemed unsecure after a repossession, foreclosure or bankruptcy, ensuring compliance with all relevant federal and state lending/debt recovery laws and following bankruptcy. Responsible for skip tracing as needed, initial filings in JP Court including judgements, garnishments and all follow-up required to collect on funds owed to the credit union. Ensures that the Credit Union's professional image is maintained.\

Pay Grade: 8 Non-Exempt 

Requirements

ESSENTIAL FUNCTIONS AND BASIC DUTIES

Assumes responsibility for the effective and professional performance in collecting charged off loans and debts owed to the Credit Union.

• Utilizes effective human relations skills and various forms of persuasion to present a positive Credit Union image in an already negative situation. Works closely with members at problem resolution in a highly consultative manner aligning to Del One service standards.
• Processes monthly charged off loans, assuring that all options for collections have been exercised including full skip tracing as needed. Prepares the monthly Charged off Loan report.
• Prepares and files suit in JP Court for charged off unsecured loans, pursues judgments.
• Successful completion of the courses required to be a registered agent through the Chief Magistrate’s office and represent the credit union in JP Court.
• Follows-up on judgments received with garnishments or levies as appropriate.
• Cross trains to support other legal department functions including bankruptcy processing, foreclosures and repossessions.
• Performs collection efforts in accordance with Credit Union policies and procedures and ensures they are legally compliant.
• Complies with all Credit Union policies and procedures including those related to Bank Secrecy Act regulations.
• Responsible for coordinating all activities following the death of a member, speaking with family of the deceased member or other interested parties, filing claims against the estate, collecting life insurance policies, closing out accounts, transferring ownership to a joint party.
• Determines Credit Union’s position in bankruptcy proceedings and works to minimize losses.
• Uses experience and knowledge of Credit Union loan policies, procedures, and documentation together with knowledge of Bankruptcy Law to review member files in order to establish validity of bankruptcy proceedings. Verifies existence of assets or evidence of fraud. Completes and files all paperwork required to secure the Credit Union’s position in the Bankruptcy.

Assumes responsibility for the efficient administration of charge off account recovery activities.

• Keeps accurate and up-to-date activity reports on charged off loans.
• Documents all collection actions taken, including telephone conversations, alternative financial arrangements, and correspondence.
• Researches loan records and payment histories for charged off loans to ensure that Credit Union errors are detected promptly. Provides members the opportunity to fully explain their loan status.

Assumes responsibility for ensuring that professional business relations are established and maintained with various members, groups, and professionals.

• Maintains the Credit Union's professional reputation throughout collections and legal operations and in all contacts with members.
• Maintains confidentiality in all aspects of job performance.
• Develops contacts with the other financial institutions, third party vendors, business attorneys, and corporate compliance professionals. Uses shared information to effectively minimize Credit Union losses.

Assumes responsibility for establishing and maintaining effective communication and coordination with Credit Union personnel.

• Assists other Credit Union personnel as needed.
• Keeps management informed of activities, progress attained toward established objectives, and of any significant problems.
• Ensures that work area is clean, secure, and well maintained.
• Completes miscellaneous administrative functions and special projects as required.

PERFORMANCE MEASUREMENTS

• Charged off accounts are closely monitored reviewed, and promptly collected.
• Appropriate collections actions are instituted that are in accordance with established Credit Union policies and are legally compliant. Legal actions are closely supervised and directed.
• Maintains professional business relationships with members. Members are properly assisted with their financial problems and their questions are courteously answered.
• Effective working relations and coordination exist with General Counsel and outside attorneys.
• Required reports and records are accurate and timely.
• Good working relations exist with area personnel and with management. Management is appropriately informed of area activities. Legal staff are supported and directed as needed.

QUALIFICATIONS

EDUCATION/CERTIFICATION: High school graduate or equivalent college training with emphasis on business, legal, or related courses

REQUIRED KNOWLEDGE:

• Thorough knowledge of collection procedures, skip tracing, and related laws and regulations.
• Thorough understanding of Credit Union products and policies.
• Knowledge of all loan contract terms and agreements.
• Familiar with deposit programs, account ownership, and casualty insurance.

EXPERIENCE REQUIRED:

• One or more years of collection experience with a full-service financial institution.

SKILLS/ABILITIES:

• Ability to travel 5% for meetings, hearings, etc.
• Strong interpersonal and public relations skills
• Well organized and attentive to detail
• Ability to manage multiple projects simultaneously.
• Excellent communication, telephone, and public relations skills.
• Ability to work well independently.
• Ability to work well in stressful situations.
• Ability to operate related computer applications and other business equipment including calculator, typewriter, copy machine, printer, credit bureau terminal, telephone, fax.

PHYSICAL ACTIVITIES AND REQUIREMENTS OF THIS POSITION

FINGER DEXTERITY: Using primarily just the fingers to make small movements such as typing, picking up small objects, or pinching fingers together.

TALKING: Especially where one must frequently convey detailed or important instructions or ideas accurately, loudly, or quickly.

AVERAGE HEARING: Able to hear average or normal conversations and receive ordinary information.

REPETITIVE MOTION: Movements frequently and regularly required using the wrists, hands, and/or fingers.

AVERAGE VISUAL ABILITIES: Average, ordinary, visual acuity necessary to prepare or inspect documents or products, or operate machinery.

PHYSICAL STRENGTH: Sedentary work; sitting most of the time. Exerts up to 10 lbs. of force occasionally. (Almost all office jobs.)

WORKING CONDITIONS

NONE: No hazardous or significantly unpleasant conditions (such as in a typical office).

MENTAL ACTIVITIES AND REQUIREMENTS OF THIS POSITION

REASONING ABILITY:

• Ability to deal with a variety of variables under only limited supervision.
• Able to interpret various instructions.

MATHEMATICS ABILITY:

• Ability to perform basic math skills and to use decimals to compute ratios and percentages, and to draw and interpret graphs.

LANGUAGE ABILITY:

• Ability to read a variety of books, magazines, instruction manuals, atlases, and encyclopedias.
• Ability to prepare memos, reports, and essays using proper punctuation, spelling, and grammar.
• Ability to communicate distinctly with appropriate pauses and emphasis; correct punctuation (or sign equivalent) and variation in word order; using present, perfect, and future tenses.

INTENT AND FUNCTION OF JOB DESCRIPTIONS

Job descriptions assist organizations in ensuring that the hiring process is fairly administered and that qualified employees are selected. They are also essential to an effective appraisal system and related promotion, transfer, layoff, and termination decisions. Well constructed job descriptions are an integral part of any effective compensation system.

All descriptions have been reviewed to ensure that only essential functions and basic duties have been included. Peripheral tasks, only incidentally related to each position, have been excluded. Requirements, skills, and abilities included have been determined to be the minimal standards required to successfully perform the positions. In no instance, however, should the duties, responsibilities, and requirements delineated be interpreted as all inclusive. Additional functions and requirements may be assigned by supervisors as deemed appropriate.

In accordance with the Americans with Disabilities Act, it is possible that requirements may be modified to reasonably accommodate disabled individuals. However, no accommodations will be made which may pose serious health or safety risks to the employee or others or which impose undue hardships on the organization.

Job descriptions are not intended as and do not create employment contracts. The organization maintains its status as an at-will employer. Employees can be terminated for any reason not prohibited by law.