Job Description:
Service and manage delinquency, loss prevention, and loss mitigation activities for member loan and depository products, including but not limited to credit cards, mortgages, vehicle loans, student loans, and personal loans. Perform collections activities across all stages of delinquency, from early-stage account servicing through recovery and charge-off. Responsibilities include member outreach, payment processing and arrangement negotiations, hardship assistance, skip tracing, repossession support, settlement negotiations, loss mitigation solutions, and charged-off account recovery. Work directly with members to identify repayment options that balance member needs with the Credit Union's loss prevention.
Essential Responsibilities:- Manage delinquent member accounts across stages of delinquency through outbound and inbound communications, facilitating payment solutions and providing account assistance.
- Analyze account risk and collaborate with members to develop appropriate repayment, hardship, loss mitigation, settlement, or recovery solutions that balance member needs with the Credit Union's risk objectives.
- Process payments, payment arrangements, automatic payment setups, account transfers, third-party authorizations, and other account servicing activities related to delinquent accounts.
- Negotiate repayment plans, modified terms, settlements, and other recovery solutions for delinquent, charged-off, repossessed, or high-risk accounts.
- Conduct skip tracing, locate updated member contact information and assets, and support recovery efforts through appropriate collection strategies.
- Manage and support collections-related recovery activities, including repossession, redemption, deceased member account resolution, total loss claims, deficiency balances, and other loss mitigation initiatives.
- Audit accounts, obtain required documentation, and ensure collection activities comply with applicable regulatory, legal, and internal policy requirements.
- Serve as a resource for members and internal business partners by providing accurate account information, resolving complex issues, and handling escalated member concerns.
- Meet established service level agreements and performance expectations related to delinquency, loss prevention, recovery, productivity, quality, and member experience.
- Maintain expertise in loan and depository products, collections practices, and regulatory requirements while identifying opportunities for process improvement and operational effectiveness.
- Education & Years of Experience
- Minimum - High School or Equivalent
- Minimum - 2 Years Collections or Related
- Preferred -1 Secondary Language Skills or Related
Compensation & Benefits:
Typical hiring range: $46,100.00 to $65,300.00 Annually. Actual compensation will be determined using factors such as experience, skills & knowledge.Benefits: Alliant provides a benefits package including health care, vision, dental, and 401k with employer match including:
- Annual performance bonus
- Work from home up to 3 days a week
- Paid parental leave
- Employee discount programs
- Time off including paid personal and sick days11 paid holidays
Education reimbursement*Note that eligibility and cost of benefits can vary depending on the number of regularly scheduled hours, and job status such as regular full-time, regular part-time, or temporary employment.
Adhere to and ensure compliance of all business transactions with policy and process of the Bank Secrecy Act. Ensures compliance with all applicable state and federal laws, company procedures and policies. Maintains integrity and ethics in all actions and conversations with or regarding credit union members and their accounts; complies with Privacy Act directives.
The responsibilities listed do not contain a comprehensive listing of activities, duties or responsibilities that are required of the employee for this position. Duties, responsibilities and activities may change -at any time with or without notice.
