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Addition Financial - Lake Mary, FL
posted about 2 months ago
Full-time - Entry Level
Lake Mary, FL
Credit Intermediation and Related Activities
About the position
The Collector I position at Addition Financial involves notifying and locating borrowers with delinquent accounts to secure payments. The role is essential for maintaining a financially sound loan portfolio through early delinquency control, utilizing various communication methods such as phone calls, text messages, and collection letters. The collector will also recommend further actions on accounts as necessary, including repossession and legal action.
Responsibilities
- Work daily on the delinquency queue to contact delinquent members and negotiate payment arrangements.
- Send letters and offset payments when available.
- Follow up on all delinquent accounts to ensure payment arrangements are made.
- Develop payment plans and collect overdue accounts whenever possible.
- Recommend further action on accounts, such as repossession or legal action.
- Perform thorough skip tracing on delinquent accounts as needed.
- Ensure compliance with Credit Union policies and state and federal regulations.
- Maintain accurate data on all delinquent accounts, including documentation of repossessions and charged off accounts.
- Document all collection activity, including third-party collection activity and communications with borrowers.
- Post collected payments to member accounts.
- Troubleshoot and resolve member inquiries in a timely manner.
- Research automatic payment methods and their effects on loan status.
- Monitor loans for charge offs and work in compliance with the credit union's charge off policy.
- Collaborate with the team to meet overall credit union goals for charge off and delinquency ratios.
Requirements
- High school diploma or GED equivalent.
- 1+ years of experience in collections or related field.
- Ability to read and comprehend simple instructions and correspondence.
- Effective communication skills for one-on-one interactions with borrowers.
- Basic math skills including addition, subtraction, multiplication, and division.
- Knowledge of computing rates, ratios, and percentages.
- Ability to apply common sense understanding to carry out instructions in various forms.
- Problem-solving skills in standardized situations.
