Collections Representative

About the role

The Collections Representative supports members who are experiencing financial difficulties by helping them establish realistic repayment solutions while maintaining a high standard of member service. This role manages assigned collection queues across various financial products, follows established regulations and procedures, and collaborates with internal teams to recommend loan workouts and process improvements. The position begins on-site and transitions to a hybrid schedule, offering a balance between structured training and flexible work arrangements.

Responsibilities

• Provide assistance and support to members in financial difficulty by identifying mutually agreeable payment arrangements while maintaining excellent member service and strong relationships.
• Work assigned collection queues and make collection attempts by telephone and email on financial products such as auto loans, credit cards, mortgages, and other lending products, following established procedures and applicable regulations.
• Review and submit accounts for loan workout arrangements, including extensions, loan modifications, forbearance, and partial payment plans, ensuring proper documentation and compliance.
• Identify accounts that require adverse action, such as repossession, foreclosure, account closure, suspension, or charge-off, and escalate or process these actions according to established guidelines.
• Identify gaps in existing collection processes and procedures and make recommendations for improvements to enhance efficiency, compliance, and member experience.
• Participate in department projects and initiatives as required, contributing insights from frontline collections experience.
• Manage time effectively to handle multiple accounts, follow-up activities, and documentation requirements within established timelines.
• Handle sensitive documents and member information professionally and securely, adhering to confidentiality and privacy requirements.
• Communicate clearly and professionally with members and internal stakeholders, both verbally and in writing, to resolve issues and provide accurate information.
• Apply a basic understanding of loan calculations, including APR, amortization schedules, and simple interest, when discussing repayment options and explaining terms to members.

Qualifications

• High school diploma or equivalent.
• Minimum of one year of experience in a collections, sales, or customer service position, preferably within the financial services industry.
• Experience in a financial institution or credit/collections environment is preferred.
• Ability to interpret and follow established policies, procedures, and regulatory guidelines in a collections environment.
• Working knowledge of Microsoft Office Suite, including Word, Excel, and Outlook.

Skills

• Effective time management skills with the ability to work independently and in a collaborative team environment.
• Strong listening skills with the ability to ask probing questions to understand member needs and address objections.
• Good problem-solving and decision-making skills with strong attention to detail.
• Strong verbal and written communication skills, with the ability to speak and write clearly and professionally.
• Ability to handle sensitive documents and confidential information in a professional and secure manner.
• Strong interpersonal skills, including the ability to build rapport, de-escalate difficult conversations, and maintain a member-focused approach.

Benefits

• Medical, dental & vision
• Critical Illness, Accident, and Hospital
• 401(k) Retirement Plan (pre-tax and Roth post-tax contributions available)
• Life Insurance (Voluntary Life & AD&D for the employee and dependents)
• Short and long-term disability
• Health Spending Account (HSA)
• Transportation benefits