Collector II

Tower is offering a $1000 Signing/Retaining bonus as of 1/20/2025.

About the role

Collector II position is responsible for performing activities associated with all delinquent, fraudulent, and credit card accounts with intent to protect the assets of Tower Federal Credit Union. Reviews all delinquent accounts and contacts members to resolve the past due account(s). Performs duties that include telephone calls, emails, sending letters and system data entry to document collection work/activity. Utilizes various techniques, as circumstances indicate, to promptly collect delinquent balance accounts. Ensures Tower FCU professional image is maintained, while following all established regulatory policies. Serves as a back-up for administrative collection activities. May receive day-to-day direction from the Senior Collector or other management. This position requires compliance with Federal and State regulatory statutes, as well as internal policies and procedures.

Responsibilities

• Support, demonstrate, and promote the Credit Union service culture.
• Provide exceptional service to all Tower Federal Credit Union members by following the Inspired Financial Service promises and standards, along with the Credit Union Mission, Vision, and Values.
• Perform effective and professional collections functions.
• Utilize effective human relation skills and various forms of persuasion to present a positive image in negative situations.
• Answer questions and complaints relevant to Department functions.
• Determine reason(s) for delinquencies and work toward creating permanent solutions.
• Minimize losses by initiating early actions.
• Receive delinquent reports from the computer system and verify the status of the accounts.
• Contact delinquent loan members to collect or make payment arrangements utilizing various collection methods.
• Evaluate loan and account contracts for Tower’s options, including the right of off-set and cross-collateralization.
• Follow up on delinquent accounts by telephone, personal contact, and/or written correspondence to secure a satisfactory explanation and/or resolution to the loan account status.
• Discuss possible payment options, inform members of potential legal actions, and/or suggest financial counseling to arrive at suitable payment arrangements.
• Continue to collect until the account is resolved, charged off, or referred to an attorney.
• Utilize further appropriate collection methods if initial attempts do not secure required payment (include Accurint, skip tracing, Internet search, repossession of security, etc.).
• Obtain member authorization for electronic payments or transfers.
• Coordinate repossession activities including but not limited to assignment and tracking.
• Monitor modifications to ensure payments and track expirations, and update the system as needed.
• Provide financial counseling to members as needed.
• Perform collections efforts in accordance with Tower Federal Credit Union policies and procedures and ensure all actions are legally compliant.
• Code accounts for bankruptcy, deceased, and legal when making recommendations.
• Handle first payment defaults, including telephone calls, emails, and identifying and correcting problems with automatic transfers.
• Document in Temenos collection system all collection efforts including communication, attempted communication, and actions taken.
• Update member demographic information in Temenos and DNA (if needed).
• Recommend members for hardship; process member hardship requests.
• Send Intent to repossess letters to delinquent auto loans and cross-collateralized accounts.
• Check the collections email and voicemail box.
• Assist with training and mentoring of co-workers.
• Complete team training when requested by senior or management.
• Establish and maintain effective communication and coordination with Company personnel.
• Keep management informed and updated of all activities and significant problems.
• Participate in all required meetings, Credit Union functions, and trainings.
• Maintain a clean, secured, and well-organized work area.
• Stay educated and informed of all changes in Collections policies, procedures, and all state and federal laws.

Requirements

• High school graduate with 3 or more years of collections experience.
• Knowledge of State and Federal collection laws and procedures.
• Knowledge of Fair Debt Collections Practices Act, Fair Credit Reporting Act, and limited knowledge of bankruptcy law, contract law, SCRA, etc.
• Must possess knowledge of relevant repossession laws and demonstrate ability to research specific state repossession laws as these regulations can vary by state.
• Ability to operate 10-key adding machine and typewriter.
• Competently operate PC in Microsoft Windows environment, including applications such as Word, Excel, and DOS.
• Operate a PC in an Internet environment.
• Read, analyze, and interpret procedure manuals.
• Make persuasive presentations and provide explanations or instructions in one-on-one situations over the telephone.
• Write effective, concise, complete correspondence to TFCU members.
• Write routine reports, internal and external communications.
• Define problems, collect data, establish facts, and draw valid conclusions.
• Take and follow instructions with minimal supervision.
• Make sound decisions and recommendations regarding delinquent accounts.
• Prioritize diverse job assignments and meet established deadlines.
• Complete tasks with a high degree of accuracy and attention to detail.
• Handle a multitude of tasks in a high-stress environment.
• Arrive at work routinely and promptly, demonstrating consistent dependability including attendance.
• Maintain sensitive and confidential information.
• Get along with colleagues and supervisors.
• Respond to sensitive inquiries and complaints in a timely and professional manner.
• Provide constructive feedback to individuals you are charged with training.
• Knowledge of and adherence to credit union policies and procedures and all regulations related to the Bank Secrecy Act, the USA PATRIOT Act, and OFAC.

Work Conditions

• Ability to sit, stand, and walk for extended periods and demonstrate sufficient dexterity and vision to operate a variety of office equipment.
• Ability to lift up to 20 lbs. with or without assistance.
• Ability to work hours needed which may extend beyond the defined work schedule when operating conditions dictate.
• Ability to work flexible hours including overtime as deemed necessary by departmental needs.

Pay

Hiring range: $29.21/hr - $36.51/hr

Schedule

Monday - Friday 8:00am - 6:00pm, Saturday 9:00am-1:00pm

Benefits

All full-time positions include exceptionally low medical premiums in addition to a whole host of other benefits.