Mortgage Collector jobs in Delaware

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. Del-One strives to be the members’ financial partner for 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 over 11 branch locations throughout Delaware. It is an organization that also embraces the community it serves. 

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 various delinquent member accounts, including Visa credit cards, negative shares, secured loans, unsecured loans, and home equity loans. Responsible for reviewing delinquent accounts, determines probable reasons for account status, and contacts members to resolve the delinquencies. Utilizes various techniques, as circumstances indicate, to promptly collect on delinquent accounts. Ensures that the Credit Union's professional image is maintained.

Requirements

ESSENTIAL FUNCTIONS AND BASIC DUTIES

Assumes responsibility for the effective and professional completion of collections functions.

• Receives delinquency reports from the computer system and verifies the status of the loans. Makes effective use of collection tools including daily suspense and delinquent loan activity reports. Continues to collect until loan becomes repossession, foreclosure, charge-off, bankruptcy, or attorney account.
• Makes early contact with members and co-makers to collect and keep them informed of account/loan status. Follows up on delinquent accounts by telephone, personal contact, and correspondence to secure a satisfactory resolution to the repayment problem. Discusses possible financial arrangements, informs members of potential legal actions, and suggests financial counseling to arrive at suitable payment arrangements.
• Utilizes effective human relations skills and various forms of persuasion to present a positive Credit Union image in an already negative situation. Calms irate members and answers member questions and complaints relevant to collections functions. Determines reasons for delinquencies and works toward permanent solutions.
• Minimizes losses by early actions.
• Utilizes appropriate collection methods if initial attempts do not secure required payment. Recommends loan extensions, processes approved extensions, and notifies members of new due date. Suggests consolidations and financial counseling as needed.
• Recommends accounts for repossession, charge-off, and foreclosure.
• Performs collections efforts in accordance with Credit Union policies and procedures and ensures they are legally compliant.

Assumes responsibility for the efficient administration of collections activities.

• Keeps accurate and up-to-date activity reports on late, potentially late, and delinquent loans.
• Documents all collection actions taken, including telephone conversations, alternative financial arrangements, and correspondence in Credit Union systems/software.
• Researches loan accounts that appear on late and potentially late records to ensure that Credit Union errors are detected promptly. Provides members the opportunity to fully explain their loan status.

Assumes responsibility for establishing and maintaining effective, professional business relations with members.

• Maintains and projects the Credit Union's professional reputation.
• Maintains confidentiality.
• Resolves member requests and questions promptly and courteously.
• Keeps member informed of Credit Union services and policies.

Assumes responsibility for establishing and maintaining effective communication and coordination with coworkers and management.

• Assists contact center personnel and other departments as required.
• Keeps supervisor informed of activities, progress toward established objectives, and of any significant problems.
• Completes required documentation, reports, and records accurately and promptly.
• Attends and participates in meetings as required.

Assumes responsibility for related duties as required or assigned.

• Stays informed of changes in collections policies, procedures, and related legal requirements.
• Complies with all Credit Union policies and procedures including those related to Bank Secrecy Act regulations.
• Actively and professionally cross-sells Credit Union services.
• Ensures that work area is clean, secure, and well maintained.

PERFORMANCE MEASUREMENTS

• Delinquent and problem accounts are closely monitored and promptly collected. A delinquency ratio that meets credit union standards is maintained.
• Collections functions are efficiently, effectively, and accurately performed in accordance with established policies, procedures, and regulations.
• Professional business relations exist with members. Members are promptly assisted with their financial problems and their questions are courteously answered.
• Required documents, reports, and records are accurate and timely.
• Good working relationships and coordination exist with coworkers and with management. Management is appropriately informed of area activities.
• The Credit Union’s professional reputation is conveyed and maintained.

QUALIFICATIONS

EDUCATION/CERTIFICATION: High school graduate or equivalent

REQUIRED KNOWLEDGE:

• Knowledge of collection procedures and related laws and regulations
• Understanding of Credit Union products and policies

EXPERIENCE REQUIRED: 1-3 years of previous collection experience; credit union or financial industry preferred

SKILLS/ABILITIES:

• Strong attention to detail
• Excellent communication (verbal and written) and public relations skills
• Basic mathematical skills
• Ability to work well independently
• Ability to adapt to change and work well under pressure
• Ability to use a personal computer and related software application including Microsoft Word or Excel

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

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

WORKING CONDITIONS

NONE: No hazardous or significantly unpleasant conditions

MENTAL ACTIVITIES AND REQUIREMENTS OF THIS POSITION

REASONING ABILITY:

• Ability to apply common sense understanding to carry out detailed but uninvolved instructions and to deal with problems involving a few variables

MATHEMATICS ABILITY:

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

LANGUAGE ABILITY: -

• Ability to use passive vocabulary of 5,000-6,000 words; to read at a slow rate; and define unfamiliar words in dictionaries for meaning, spelling, and pronunciation
• Ability to write complex sentences, using proper punctuation, and using adjectives and adverbs
• Ability to communicate in complex sentences; using normal word order with present and past tenses; using a good vocabulary

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.