Collections Specialist

Job Summary

The Collection Specialist is responsible for managing delinquent loan accounts and working directly with credit union members to identify solutions that bring accounts current. This role ensures compliance with regulatory requirements and supports the credit union’s mission by providing compassionate, member‑focused service while minimizing financial risk.

Essential Duties and Responsibilities:

Delinquency Management

· Monitor daily and monthly delinquency reports to identify past‑due loan accounts.

· Initiate timely contact with members by telephone, written correspondence, and electronic communication to secure payment or arrange satisfactory repayment plans.

· Document all collection activity clearly, accurately, and in compliance with departmental standards.

Member Communication and Assistance

· Conduct confidential discussions with members to assess financial circumstances and determine appropriate solutions, including payment extensions, modifications, or hardship arrangements as permitted.

· Provide courteous, professional, and empathetic service while maintaining firm adherence to collection requirements.

· Educate members on available repayment options, digital payment tools, and methods for preventing future delinquency.

Risk Assessment and Escalation

· Evaluate account status to determine when additional action is warranted, including repossession, legal proceedings, or charge-off.

· Prepare reports summarizing account activity, delinquency trends, and collection effectiveness.

· Ensure all activities comply with applicable federal and state laws, including the Fair Debt Collection Practices Act (FDCPA), and with all internal policies and procedures.

Recordkeeping and Compliance

· Maintain accurate files and system records to accurately document accounts per regulations.

· Safeguard confidential member information in accordance with regulatory and organizational standards.

· Participate in internal audits, compliance reviews, and training to maintain current knowledge of relevant regulations.

Additional Duties

• Contributes to and attends all departmental training sessions and organizational meetings.
• Attends community events on behalf of the credit union as requested.
• Performs other duties as assigned.

Key Competencies

• Member-focused approach — ability to handle sensitive conversations with empathy, professionalism, and firmness.
• Attention to detail — meticulous in maintaining records, processing payments, and preparing correspondence.
• Organizational skills — capable of managing a high volume of accounts and tasks simultaneously with accuracy.
• Communication skills — clear written and verbal communicator with members, attorneys, and collection agencies.
• Problem-solving — ability to assess account-level situations and recommend appropriate next steps.
• Integrity and confidentiality — handles sensitive member financial information with discretion and in accordance with credit union policy.

Minimum Qualifications

• Education:High school diploma or equivalent required. Associate's degree in Business, Finance, or a related field preferred.
• Experience: Minimum 1–2 years of experience in collections, lending, customer service, or financial services. Prior credit union or banking experience strongly preferred.
• Technical Skills: Proficiency with standard office applications (Word, Excel) and the ability to learn credit union core processing and collections software.
• Regulatory Knowledge: Basic understanding of FDCPA, consumer lending regulations, and credit union lending practices preferred. Willingness to obtain additional training and certifications as required.
• Interpersonal Skills: Demonstrated ability to communicate effectively and professionally in difficult or emotionally charged conversations.

Pay: $21.50 - $23.00 per hour

Benefits:

• 401(k)
• 401(k) matching
• AD&D insurance
• Dental insurance
• Disability insurance
• Employee assistance program
• Health insurance
• Life insurance
• Paid sick time
• Paid time off
• Tuition reimbursement
• Vision insurance

Ability to Commute:

• Manchester, NH 03104 (Required)

Work Location: In person

Salary : $22 - $23