Digital Federal Credit Union is the largest credit union headquartered in New England, serving over one million members. The Collections Team Member II is responsible for the day-to-day administration of the repossession and remarketing process, focusing on resolving member delinquency and minimizing losses for the credit union.
Responsibilities
- Adhere to collection and repossession procedures to ensure they are carried out according to established guidelines
- Review accounts submitted for repossession (voluntary and involuntary) and determine whether an approval or denial should be rendered in accordance with the business rules
- Attempt to contact members prior to assigning an account for repossession to attempt to cure the delinquency and mitigate losses for the credit union
- Assigns repossessions to the vendors timely
- Document collections package with appropriate notes regarding repossession decision, condition reports, status and value of the collateral
- Make recommendations to the Repossesson Specialist and Team Leader whether vehicles should be repossessed from impound or storage or referred for replevin
- Build professional working relationships with vendors and review their performance
- Accurately maintain daily, weekly, and monthly reports pertaining to repossession assignments
- Utilize sound judgment to determine outstanding repossession assignments, repossession claims, submit for skip claims etc
- Process redemptions per the established procedures and guidelines
- Assist with training new and existing staff in skip tracing, repossession and recovery processes
- Stay current on repossession laws and regulations
- Makes recommendations for improvement of departmental policies, procedures, and internal controls
- Review and/or approve bids for sale of collateral, if necessary
- Audits receipt of sales proceeds from vendors after sale of collateral
- Review vendor invoices for accuracy and reasonableness and prepare them for management approval
- Make collection calls to assist with departmental goals, as and when necessary
- Perform other job related duties assigned by Manager(s)
Skills
- Excellent written and verbal communication skills
- Ability to perform multiple tasks and meet critical deadlines while maintaining accuracy and quality
- Well organized, effective time management, prioritize and manage workload for optimum efficiency
- Strong command of Microsoft Office, particularly with Microsoft Excel
- Previous consumer collections and/or skip tracing experience
- Previous experience in a financial institution or credit union
Company Overview
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