Collections Specialist I
Full job description
"Can you balance a compassionate approach with firm negotiation to secure payment while protecting a key client relationship?
We are seeking a dedicated Collections Specialist I to join our team in a role focused on loan recovery, compliance, and member service. This position ensures the Credit Union remains compliant with all Federal and State regulations, including the FDCPA, FCRA, and GLBA, while handling sensitive and complex collection matters with a high degree of member service and professionalism.
JOB REQUIREMENTS/RESPONSIBILITES:
In this role, you may manage a variety of collections related items such as the recovery of charged-off loans and collateral, coordinate repossessions, process bankruptcy cases, and work closely with attorneys on litigation. You will be responsible for evaluating accounts for potential legal action or repossession, preparing required documentation, and ensuring all actions taken are in the best interest of the Credit Union. Using investigative tools, you may locate members, collateral, or assets and negotiate repayment arrangements on past-due accounts, always maintaining respect for our members and a positive representation of the Credit Union.
The position may also involves overseeing insurance-related claims, monitoring coverage, and ensuring fair resolutions on claims connected to delinquent accounts or repossessed collateral. You will serve as a liaison between members, insurance companies, and internal departments to expedite processes and protect the Credit Union’s financial interests. Additionally, you will handle compliance-related correspondence, ensure accurate reporting to credit bureaus, and maintain clear communication with members regarding account statuses and collateral sales.
This role requires strong analytical skills, attention to detail, and the ability to navigate sensitive financial situations with integrity. Success in this position comes from balancing regulatory compliance, effective recovery efforts, and a commitment to serving members with dignity and professionalism.
EDUCATION/EXPERIENCE PREREQUISITES:
Completion of college course work in accounting, business or finance or equivalent work experience in a financial institution desirable.
3-5 Years prior experience in a collections environment, preferably with a credit union, bank, captive finance company, collection agency, law firm or similar organization. Prior experience in a senior collector or recovery capacity preferred.
Will be knowledgeable of and comply fully with all Federal and State rules and regulations governing the collection of past due accounts including, but not limited to, the Fair Debt Collection Practices Act (FDCPA) and the Fair Credit Reporting Act (FCRA).
Prior experience in locating members (customers) and/or collateral and/or other assets through the use of various “skip tracing” tools including DMV records, credit bureaus, skip locate services, etc.
Must have the ability to interface with outside vendor relationships, collect and synthesize data and information to develop collection/recovery options for members.
Knowledge of Microsoft Word, Excel and Outlook along with expert telephone and written communication skills required.
Effective negotiation skills in verbal and written form. Bilingual (English/Spanish) proficiency a plus.
BENEFITS & TOTAL REWARDS
Medical, Dental, and Vision
Paid Holidays, Sick Time, and PTO
Defined Benefit Pension Plan
Voluntary 401(k) and Roth(k)
Insurance: Life, AD&D, LTD
Travel Assist
Rewards and Recognition Program
Educational Reimbursement
Paid Volunteer hours
Loan discounts and free branch services
Discount entertainment: movie tickets, travel, car rentals, and much more
Plus, a variety of additional voluntary benefits
PAY RANGE
In accordance with California’s Pay Transparency Act, the expected salary range for this position is between:
$23.00 - $26.99
Actual pay will be determined based on a candidate’s specific qualifications, including their knowledge, skills, education and experience, internal equity consideration, as well as other job-related factors permitted by law.
Note: As part of our screening process, LBS Financial conducts background investigations on candidates who are extended an offer and who agree and authorize us to do so. This investigation will include:
Employment Verifications - Employment Dates & Job Titles
Credit Report
Criminal Records Search
Social Security Search
Governmental Registries Search
Additionally, candidates must be eligible to be bonded through a fidelity bond to cover employee loss and risk.
For additional information about our Credit Union and to apply for this opportunity, please visit our website at www.lbsfcu.org/careers. EOE
Monday-Friday
9:00 AM - 6:00 PM
Full-Time - 40 Hours/Week