Loss Mitigation Collections Specialist

Chevron Federal Credit Union is one of the top-run credit unions in the country – and one of the largest, with $4.8 billion in assets. Yet our corporate culture is not stuffy: the Team Spirit Committee runs fun activities and charitable events throughout the year, and work-life balance, mutual respect, diversity, and providing a voice for every employee are all important to us. As you might imagine, we provide competitive pay and great benefits, including:

• Bonus/incentives for all regular employees
• 401(k) with 8% company contribution
• Medical, dental, and vision insurance for employees and dependents paid at 80%
• PTO and paid sabbaticals
• Tuition reimbursement

GENERAL SUMMARY: 

Preserve the assets and financial stability of the Credit Union by controlling/reducing delinquency and minimize loss of the loan portfolio. 

Position Duties & Functions:

Collection

• Maintain full responsibility for the review and work of delinquent consumer accounts over 30 days past due to determine appropriate collection actions
• Conduct outbound calls and documents all conversations and actions accurately in the collections database
• Obtain reason for delinquency once contact is made
• Negotiate repayment plan to resolve delinquent status
• Educate the members of the actions available to the CU to collect this obligation and takes appropriate action to bring current, with added emphasis of account resolution
• Ensures that all offset options have been utilized
• Skip trace through available sources and search for associated joint accounts to locate members
• Prepares daily, weekly and/or monthly reports on collection activity

Extensions & Modification

• Advise members on avenues available for extensions or other Loss Mitigation options
• Gather necessary supporting documents
• Prepare summary for approval and discuss with members the outcome of review
• Prepare documents for members to sign, file documentation and update systems

Collateral Repossession

• Work with members, agents, attorneys and other stakeholders to mitigate losses through the repossession process
• Work with agents and members alike to redeem or cancel repossession action when necessary
• Recommends when repossession should not occur based on findings, lien loss, low asset value, cost to repossess, etc.
• Send Notice of Intent and Sold letters to members based on repossession process
• Order title prior to assigning vehicles for repossession

Solar Loans

• Must contain basic understanding of UCC filings
• …