What are the responsibilities and job description for the Asset Recovery Representative 1 position at P1FCU?
Role
Maintain professional rapport, follow the fair debt protection act. Balance the needs of our members while protecting the assets of the credit union. Interview members. Having the ability to listen in detail and pick up on key information that will help us determine how to further assist them, reason for delinquency and/ or gather information that would be beneficial to the credit union. Refer to management for workout options. Research & analyzes data on past due accounts. Have a solid understanding of the delinquency and next steps to take.
Major Duties and Responsibilities
60% Makes calls on accounts in the collection ques as well as credit cards. Negotiate promise to pays. Answer incoming calls. Send and respond to emails. Review first payment default, research for potential missing allocations etc. Refer for repossession as needed. Call references/skip tracing. Ask questions to obtain information regarding the members ability to pay and/or locate collateral. Also, complete subsequent action forms. Process garnishments and levy's.
15% Review delinquent accounts for possible repossession recommendation or further action as deemed necessary. Be able to explain in detail how a voluntary surrender works, complete voluntary surrender form. Verify title perfection, look up Nada value, run Carfax. Have a general understanding of the repo sales process and how to apply sale proceeds.
10% Work negative share/share draft accounts.
5% Help transport vehicles/staff as needed. Know how to calculate amounts to redeem/payoff loan(s) including repo/close fees. Pull credit as needed. Knowledge of when you can and cannot call on Bankruptcy accounts or when you can ask for money and when you cannot when accounts are in BK status.
5% Fill out bankruptcy referral form and attach docs needed
5% Work statements from third party collections agency and apply balances correctly using GL's.
Responsible for compliance of all Federal and State rules and regulations pertaining but not limited to Bank Secrecy Act, Anti-Money Laundering, Bank Bribery Act, NCUA Privacy Regulations, FCRA/FACTA and Fair Debt Collections Act. Required to attend initial and ongoing annual Bank Secrecy Act training.
Other duties as assigned
Qualifications:
Knowledge and Skills
Experience
Six months to two years of similar or related experience, including time spent in preparatory positions.
Education/Certifications/Licenses
A two-year college degree or completion of a specialized course of study at a business or trade school. Experience equivalent to degree.
Interpersonal Skills
A significant level of trust and diplomacy is required, in addition to normal courtesy and tact. Work involves extensive personal contact with others and is usually of a personal or sensitive nature. Work may involve motivating, influencing or training others. Outside contacts become important and fostering sound relationships with other entities (companies and/or individuals) becomes necessary and often requires the ability to influence and/or sell ideas or services to others.
Other Skills
Teller experience a must and familiarity with accounting and general ledgers. Ability to type 35-40 wpm and Microsoft Word and Excel experience a must. General accounting experience and bi-lingual (Spanish) a plus. Exceptional organizational skills and ability to multi-task. 10 key by touch.
ADA Requirements
Physical Requirements
Perform primarily sedentary work with limited physical exertion and occasional lifting of up to 10 lbs. Must be capable of climbing / descending stairs in emergency situation. Must be able to operate routine office equipment including telephone, copier, facsimile, and calculator. Must be able to routinely perform work on computer for an average of 6-8 hours per day, when necessary. Must be able to work extended hours whenever required or requested by management. Must be capable of regular, reliable and timely attendance.
Working Conditions
Must be able to routinely perform work indoors in climate-controlled shared work area with minimal noise.
Mental and/or Emotional Requirements
Must be able to perform job functions independently or with limited supervision and work effectively either on own or as part of a team. Must be able to read and carry out various written instructions and follow oral instructions. Must be able to speak clearly and deliver information in a logical and understandable sequence. Must be capable of dealing calmly and professionally with numerous different personalities from diverse cultures at various levels within and outside of the organization and demonstrate highest levels of customer service and discretion when dealing with the public. Must be able to perform responsibilities with composure under the stress of deadlines / requirements for extreme accuracy and quality and/or fast pace. Must be able to effectively handle multiple, simultaneous, and changing priorities. Must be capable of exercising highest level of discretion on both internal and external confidential matters.