About the position
The Credit Resolution Representative III is a pivotal role within the Water and Power Community Credit Union (WPCCU), designed for an experienced representative who possesses advanced communication and negotiation skills. This position is primarily focused on interacting with members to achieve prompt resolutions for delinquent accounts, thereby minimizing non-performing asset accounts and promoting account retention. The representative will be responsible for reducing financial risks and losses associated with various member accounts, including Visa credit cards, lines of credit, secured loans, signature loans, real estate loans, and home equity lines of credit. The role requires providing workout assistance to members who are in default or at risk of default through outreach, financial counseling, and offering options such as loan forbearance, repayment plans, deferrals, and modifications. Compliance with credit union Board policies, as well as state and federal regulations, is essential to the role. In this position, the representative will actively engage with members who have delinquent accounts, ensuring that all communications are conducted within the guidelines of the Fair Debt Collection Practices Act (FDCPA), Regulation F (California Rosenthal Act), and the Telephone Consumer Protection Act (TCPA). The representative will also be responsible for staying informed about corporate policy changes and maintaining a comprehensive knowledge of all Credit Union loan products and services. This role includes providing technical support and training to branches and service centers, evaluating loan risks, and recommending escalation actions when necessary. The representative will utilize skip tracing techniques to locate collateral or assets in high-risk cases and collaborate with third-party collection agencies to optimize recovery on non-performing asset accounts. The representative will also be tasked with processing and monitoring requests from third-party collection agencies, ensuring compliance with current regulations and industry best practices. Maintaining positive relationships with members and various credit union departments is crucial, as is the ability to analyze member financial documentation to determine the most effective workout options. The representative will negotiate payment arrangements with delinquent members and work with debt management companies, insurance companies, and attorneys as needed. Additionally, the representative will represent the credit union in bankruptcy and litigation proceedings, ensuring that all necessary documentation and communications are handled in a timely manner. Overall, this role requires a high level of knowledge regarding the Credit Union's products and services, particularly in areas such as negative shares, repossessions, suits, foreclosures, bankruptcies, and charged-off accounts.
Responsibilities
- Actively engage members with delinquent accounts to collect on delinquencies, ranging from 1 day past due to charge-off.
- Contact members within FDCPA, reg F (CA Rosenthal Act) and TCPA guidelines to resolve delinquent accounts.
- Ensure compliance with all Credit Resolution service standards and regulatory requirements, including FDCPA, TCPA, SCRA, MLA, and other relevant regulations.
- Stay informed of corporate policy changes and maintain continuous product knowledge on all Credit Union loan products and services.
- Provide technical collection support, training, and guidance to branches and other service centers.
- Evaluate and manage loan risks, recommending escalation actions such as repossession, workouts, litigation, and charge-offs.
- Locate assets using skip tracing techniques to locate collateral or assets in high-risk cases.
- Collaborate with third-party collection agencies, Collections service provider, and Asset Recovery companies to optimize recovery on non-performing asset accounts.
- Process and monitor third-party collection agency requests, ensuring compliance with current regulations and industry best practices.
- Maintain positive working relationships with all members, credit union departments, and branches in adherence with the credit union's core values and code of conduct.
- Update relevant systems with member communication, notes, and action items.
- Process and update workout tracking reports on a daily basis.
- Process, review, and audit vendor invoices.
- Assist management with other duties as assigned.
- Prepare necessary analysis and documentation to complete loan workouts, repossession, foreclosure, and other workout options, identifying and submitting qualifying cases to Assistant Manager for approval.
- Analyze member financial documentation to determine the most effective workout option.
- Negotiate and follow up on payment arrangements with delinquent members, including reinstatements, workouts loans, and counseling members.
- Work with debt management companies, insurance companies, and attorneys.
- Review bankruptcy filings to ensure Credit Union loans meet discharge criteria and work with law firm to file appropriate petitions as prescribed by statute.
- Communicate and interact with members, trustees, estates, and attorneys to mitigate losses.
- Represent the credit union in bankruptcy and litigation proceedings.
- Process suit authorizations, negotiation offers, verifications of debt (VODs), complaints, and disputes in a timely manner.
- Participate in monthly vendor compliance and production meetings.
- Possess a high level of knowledge of the Credit Union's products and services, and areas of specialty in Credit Resolution such as negative shares, repossessions, suits, foreclosures, bankruptcies, reinstatement and redemption, charged-off accounts, and expulsions.
Requirements
- Associates Degree in related field or equivalent work experience.
- Minimum five (5) years' experience in collections, asset recovery, default management, or loss mitigation, or related field (i.e., underwriting, credit, etc.) with banks, credit unions, or other finance companies.
- Thorough knowledge of collection procedures and related laws and regulations.
- Familiarity with FDCPA, TCPA, SCRA, and MLA guidelines.
- Strong team player with effective written and oral communication skills.
- Detail-oriented, well-organized, and motivated to complete daily work in a timely manner.
- Working knowledge of Microsoft Office, including Excel, Word, and Outlook.
Benefits
- Competitive hourly salary ranging from $26.74 to $40.12.
- Hybrid remote work options.
- Full-time employment with regular hours.
