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
• When necessary, assign door knocks and deactivations
• Work with 3rd party vendors to ensure effective solar collection practices

Bankruptcy and Reporting

• Maintains a basic understanding of bankruptcy laws

Other duties as assigned

POSITION REQUIREMENTS

EXPERIENCE and EDUCATION:

• 2-3 years of loss mitigation or related experience required in a financial institution.
• Associate degree or equivalent from two-year college or technical school; or 2 years related experience and/or training.
• Equivalent combination of education and experience may substitute for stated qualifications.

KNOWLEDGE and SKILLS:

• Ability to interpret a variety of instructions furnished in written form, including but not limited to Policy and Procedure Manuals, Regulation Z, Section 91 – The Fair Credit Reporting Act, FDCPA, Rosenthal FDCPA, and UCC.
• Ability to read and interpret consumer loan documents such as, but not limited to, credit bureau reports, truth-in-lending disclosures, and promissory notes.
• Ability to read and interpret information on systems and documents such as account information, written agreements, vendor contracts, and policy and procedure manuals.
• Ability to write routine reports and correspondence, including email, using correct spelling and grammar.
• Ability to write and speak effectively in English using correct spelling and grammar.
• Basic math skills including the ability to compute rates, ratios, and percentages using a 10-key.
• Ability to read and interpret consumer loan documents such as, but not limited to, credit bureau reports, truth-in-lending disclosures, and promissory notes.
• Ability to read and interpret information on systems and documents such as account information, written agreements, vendor contracts, and policy and procedure manuals.
• Proficient in the use of basic applications in a Windows-based environment, including Outlook, Word, and Excel. Moderate keyboard skills at 40 wpm.
• Excellent customer service skills.

COMPETENCIES:

• Impeccably high integrity and must maintain complete confidentiality of member, employee, and Credit Union information.

• Willingness to take responsibility for his/her actions and respond promptly.
• Ability to learn quickly and adapt to change; ability to quickly learn specialized applications and systems.
• Initiative and self-direction.
• Ability to effectively communicate and collaborate with people at all levels.
• Sound problem-solving and decision-making ability, including the ability to prioritize. 
• Ability to efficiently produce a significant volume of high-quality work.
• Must be able to travel to branches for audits, as required.

• The ability to understand and align with our core competencies through daily projects and tasks:

Growth Mindset

Diversity & Inclusion

Communication

Change Ready Leadership

Responsibility

Problem Solving

Tech & Data Savvy

CU Business Acumen

PHYSICAL DEMANDS:

• Work involves extensive use of computers, up to eight hours per day. Appropriate visual, dexterity and other physical abilities are required.
• May include occasional pushing, pulling, or carrying objects weighing up to 20 pounds.
• Must be able to speak and present on the telephone and/or through digital means of communication, including but not limited to Zoom/Teams/or other video technologies.

We are an equal opportunity employer, and all qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity or expression, pregnancy, age, national origin, disability status, genetic information, protected veteran status, or any other characteristic protected by law. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

SALARY AND BENEFITS:

Salary is based on qualifications and geographical location (Zone). Benefit information can be located on our Careers page here: https://www.chevronfcu.org/about-us/careers 

Zone 1: $57,680 - $79,310

Zone 2: $52,488.80 - $72,172.10

Zone 3: $48,451.20 - $66,620.40

Zone 4: $46,144 - $63,448

Please note that annual salary ranges are posted for these roles; however, compensation will be paid on an hourly basis, and the ranges displayed are based on 2,080 hours per year.

EQUAL EMPLOYMENT OPPORTUNITY STATEMENT:

Chevron Federal Credit Union (CFCU) is an equal opportunity employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, national origin, veteran status, disability, sexual orientation, gender identity, or any other protected status. CFCU participates in E-Verify.

If you are an individual with a disability and require a reasonable accommodation to complete any part of the application process or are limited in the ability or unable to access or use this online application process and need an alternative method for applying, you may contact us at 800-232-8101 for assistance.

CFCU Is CPRA Compliant for California Employees and Applicants, to review the Notice at Collection, click here. To submit a request, please refer to the Careers page for the CPRA Request Form.

#LI-REMOTE #LI-AK1