Collections Recovery Specialist

Profile Summary

This position will be responsible for recovery and collection efforts on charged-off accounts and negative shares.  This position will be require the creation of a recovery program to increase recoveries on an annual basis.  This is intended to be only an overview of primary responsibilities for this role. This is not a complete listing of role functions. All Team Members are responsible for assisting the organization with various tasks as directed by management. Special projects and activities may also be created where Team Member talents can best be utilized.

Training Requirements

A core part of this role is to assist other team members and INOVA Federal Credit Union achieve success.  Training is essential to increase employee knowledge and competencies related to the job.  In order to accommodate organizational goals, all employees will be required to assist new hires and other team members with training and development as needed.

Responsibilities

• Review and document status of charged off accounts, negative share accounts and initiate telephone contact with members, attorneys and collection agencies
• Establish and monitor payment plans and settlements
• Review and prepare any accounts that should be turned over for legal action or handled by an outside collection agency
• Take measures to locate members when necessary, utilizing skip tracing techniques
• Maintain updated attorney log
• Generate and send collection letters and adverse action letters
• Maintain files, records and other electronic documents to provide a chronology of collection activity for charged off accounts and negative accounts, including providing reports to management
• Create, generate and maintain weekly and monthly reports for management
• Maintain Credit Union compliance with state and federal laws and regulations; these include, but are not limited to: bankruptcy law, debt collection and reporting and privacy law
• Assist with department calls and   emails
• Responsible for adherence to Credit Union policies and procedures
• Perform other duties and functions as assigned for the efficient and effective operation of the Credit Union

Competencies

Communicates Appropriately, Clearly and Openly

• Uses professional language when speaking with supervisors, co-workers and members.
• Clearly communicates thoughts, ideas and information in writing and in-person conversation.
• Speaks in a logical, organized and coherent manner.
• Provides appropriate level of detail for the situation and audience.
• Listens to and considers others’ viewpoints.

Exercises Sound Judgment

• Uses logical thought processes to analyze and draw conclusions.
• Identifies inconsistent or missing information.
• Draws conclusions from relevant and/or missing information.
• Considers the impact to INOVA first and function second.
• Demonstrates intellectual curiosity; seeks out alternate opinions and viewpoints. Pivots to changing business needs.

Maintain a Professional Demeanor

• Demonstrates self-control by maintaining composure and keeping a professional demeanor even in emotionally difficult situations.
• Takes ownership of one’s work.
• Maintains a positive attitude.
• Is pleasant, courteous, and professional when dealing with internal and external members or clients.
• Provides personalized service with prompt and efficient responses to meet the requirements, requests and concerns of members or clients.
• Understands and anticipates member needs.

Drives for Results

• Owns the outcome and commits to seeing it through. Identifies roadblocks and effectively works to remove them to achieve the desired results.
• Seeks continuous improvement. Open to new ideas; embraces and champions change.
• Establishes a high degree of trust and credibility with others.

Qualifications

Education/Experience

• No major required
• High school diploma
• 2 - 4 Years work experience in Collections and Recovery
• Experience in repossessions, bankruptcy law, and federal and state regulations
• Good writing and verbal communication skills
• Good organization skills
• Must have strong analytical and problem solving skills
• Ability to work well under pressure and adhere to set deadlines
• Ability to create and maintain spreadsheets and documents in Microsoft Excel and Word

Training Requirements

• Annual Compliance Requirements

Work Environment

The work environment characteristics described here are representative of what a Team Member encounters while performing the essential functions of this role. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

• Open office or cubicle
• Works independently

Physical Demands

While performing the duties of this role, the Team Member is regularly or occasionally required to meet the following physical demands. To assure safety, Team Members in this role must be able to complete the following physical requirements.

• Noise - Moderate
• Sit and stand intermittently
• Talk or hear

INOVA Federal Credit Union promotes an equal employment opportunity workplace which includes reasonable accommodation of otherwise qualified disabled applicants and employees.

This job description in no way states or implies that these are the only duties to be performed by the employee(s) in this position.  Employee(s) will be required to follow any other job-related instructions and to perform any other job-related duties as requested by any person authorized to give instructions or assignments.  Duties, responsibilities and expectations may be added, deleted; or changed at any time at management’s discretion and this job description does not create an employment contract, implied or otherwise, other than an employment-at-will relationship.