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First Financial Federal Credit Union
Job Title : Collector I, II, III
Department : Collections
Reports To : Collections & Loss Mitigation Manager
Salary Grade(s) : 7, 8
EEO-1 Job Class : 5 - Administrative Support Workers
FLSA Status : Non-exempt
Location : 72 Loveton Circle Sparks, MD 21152
In office position with the opportunity to work a hybrid schedule after the probationary period.
Function :
Assist the Collection & Loss Mitigation Manager in the resolution and collection of delinquent accounts. Offer solutions that help Members achieve and maintain a good credit rating.
Position Requirements :
GENERAL :
Excellent communication skills
Organized and efficient
Motivated to achieve goals
EXPERIENCE :
Collector I : 0-2 years of experience
Collector II : 2-4 years of experience
Collector III : 4-6 years of experience
EDUCATION : High school diploma or GED equivalent
An equivalent combination of education and experience may be accepted as a satisfactory substitute for the specific education and experience listed above.
Duties :
Collects a minimum of 90% of your beginning potential assigned consumer monthly loan delinquency to keep delinquency at a minimum.
Attempts telephone contact with delinquent Members in accordance with the Fair Debt Collection Practices Act (FDCPA). Telephone contact attempts should be done on all numbers including home, place of employment, etc.
Ensures that all work / communication actions (i.e. phone calls, emails, promises to pay, updates, etc.) are documented in the collections system to maintain accurate records on all delinquent accounts.
Ensures that future follow-up dates are maintained to provide maximum coverage of your delinquent queue assignment and guarantee there are no accounts with follow-up dates in the past.
Communicates a sense of urgency to the Member to pay each account current. Emphasize the need for a specific date the account will be cured in order to prevent the account from aging further.
Consistently demonstrates a courteous, tactful and professional approach when communicating with Members in accordance with established service standards.
Demonstrates concern and respect for others in all interactions, and inspire confidence and trust.
Updates Member contact and employment information on a regular basis. Asks probing questions to identify cause of delinquency and expected plan / time of payment.
Regularly conducts skip tracing and account analysis in attempts to obtain good contact information for the Member and / or location of collateral.
Analyzes reasons for hardship and develops win-win solutions for Members by recommending payment and / or workout resolution plans.
Follows up on accounts to ensure its return to good standing.
Interfaces with various departments including Lending, Branch Operations, Member Services, Accounting, and Information Systems regarding delinquent accounts.
Meets Key Performance Indicator (KPI) metrics to optimize portfolio performance.
Reports suspected deceptive or fraudulent practices in the Lending and Collections process.
Assists in maintaining collection records concerning charged off loans.
Adheres to regulations and organizational policies, maintaining awareness and knowledge required to perform the duties of the position including but not limited to FDCPA, FCRA, FACTA, TCPA, UDAAP & SCRA.
Completes all required training and / or certifications as assigned.
Assists Manager in achieving strategic goals for the department.
Performs other related duties of similar scope and complexity.
Adheres to regulations and organizational policies, maintaining awareness and knowledge required to perform the duties of the position including all aspects of the Bank Secrecy Act, Fair Lending, and Information Security.
Equal Opportunity Employment
First Financial of Maryland Federal Credit Union is an Equal Opportunity employer with a strong commitment to hiring for our mission and diversifying our staff.
All qualified applicants will receive consideration for employment without regard to race, color, religion, national origin, age, sex, sexual orientation, gender identity, disability, marital status, protected veteran status or any other factor protected by law.
Compensation details : 18-26 Hourly Wage
PI1504afa93264-26289-34217290
Last updated : 2024-05-01
Full Time
Banking
$40k-49k (estimate)
05/03/2024
05/12/2024
firstfinancial.org
SPARKS GLENCOE, MD
50 - 100
1953
ROBERT M WINDSOR
$10M - $50M
Banking
Founded in 1953, First Financial of Maryland Federal Credit Union has over $1 Billion in assets, 66,000 members and six full-service branch locations. The Credit Union proudly serves the employees, students, and parents of the Baltimore and Carroll County Public School systems, as well as the employees and families of many private schools, colleges, hospitals, and businesses in Baltimore and Carroll Counties. First Financial offers a wide variety of financial products and services including free checking, online and mobile services, as well as auto loans, credit cards and home loans. Dont just... bank, belong; visit www.firstfinancial.org for details. For our Privacy Policy, please visit: https://www.firstfinancial.org/assets/1538141065-PrivacyPolicyWeb.pdf
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The job skills required for Collector include Loss Mitigation, etc. Having related job skills and expertise will give you an advantage when applying to be a Collector. That makes you unique and can impact how much salary you can get paid. Below are job openings related to skills required by Collector. Select any job title you are interested in and start to search job requirements.
The following is the career advancement route for Collector positions, which can be used as a reference in future career path planning. As a Collector, it can be promoted into senior positions as a Consumer Loan Collector III that are expected to handle more key tasks, people in this role will get a higher salary paid than an ordinary Collector. You can explore the career advancement for a Collector below and select your interested title to get hiring information.
If you are interested in becoming a Collector, you need to understand the job requirements and the detailed related responsibilities. Of course, a good educational background and an applicable major will also help in job hunting. Below are some tips on how to become a Collector for your reference.
Step 1: Understand the job description and responsibilities of an Accountant.
Quotes from people on Collector job description and responsibilities
Collectors recover overdue payments and past due accounts by tracking debtors down using the phone or mail.
01/09/2022: Savannah, GA
Collectors also stay mindful of clients’ possible fears about being contacted for past due accounts and sometimes refer them to debt counselors for additional assistance.
01/18/2022: Utica, NY
After the collector and debtor agree on a repayment plan, the collector continually checks to ensure that the debtor pays on time.
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Overdue payments on credit card balances, phone bills, auto loan payments, utility payments, and back taxes are examples of delinquent bills that a debt collector may be tasked with retrieving.
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Step 2: Knowing the best tips for becoming an Accountant can help you explore the needs of the position and prepare for the job-related knowledge well ahead of time.
Career tips from people on Collector jobs
Collectors must follow federal and local laws that govern debt collection.
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Step 3: View the best colleges and universities for Collector.