Collections Administrator

First Financial Federal Credit Union

Job Description

Job Title: Collections Administrator

Department: Collections

Reports To: Collections & Loss Mitigation Manager

Salary Grade(s): 8

EEO-1 Job Class: 5 - Administrative Support Workers

FLSA Status: Non-exempt

☒Full-time

Location: 72 Loveton Circle Sparks, MD 21152

***In office position with the opportunity to work a hybrid schedule after a probationary period.

Function:

Assists the Collections Department in the resolution of delinquent accounts. Facilitates all administrative requirements for the Collections Department including but not limited to written or verbal correspondence with Law Firms, Members, Vendors, and other areas of the Credit Union.

Position Requirements:

Duties:

Organizes collection related documents to be stored in the appropriate cabinet within the credit unions imaging system.

Prepares and sends loan documentation to attorneys and collection agency for further collection efforts. Updates internal tracking systems for all third-party referrals and prepares quarterly reporting.

Updates and maintains record of all members working with debt counseling agencies. Acts as a liaison between agencies and the credit union concerning payment processing.

Retrieves and sorts mail for Collections and delivery to appropriate personnel.

Responsible for transferring loan payments and advancing loans to reflect applicable service fees.

Provides dual control by posting agency and attorney payments. Verifies payment transactions for payments made by collectors.

Compiles data, prepares and maintains files for all bankruptcies, and legal suits. Places appropriate holds on accounts and disburses funds to appropriate agencies. Processes trustee payments.

Maintains insured mortgage claims process and coordinates with the vendor for claim reimbursement. Reports suspected unfair or deceptive practices in the lending and collections procedures.

Resolves member concerns escalated through the customer relation management system (CRM).

Assists Collections and Loss Mitigation Manager in preparation of month end reports and Loss Mitigation Packages.

Reconciles monthly attorney invoices for services rendered and assists Accounting with balancing Collections GL.

Responsible for managing automated member delinquency notification program to include notices, letters, and electronic communications and records preservation for subsequent legal action.

Serves in the capacity of collector, as needed. Fully trained in collection regulations and compliance.

Adheres to regulations and organizational policies, maintaining awareness and knowledge required to perform the duties of the position including but not limited to FDCPA, FCRA, FACTA, TCPA, SCRA, & US Bankruptcy Code.

Compile daily delinquency report for distribution to collections staff and Chief Lending Officer.

Act as liaison with collection agencies and attorneys.

Reviews and process approved short-term loan workouts.

Analyze settlement offers on charged off loans and make recommendations to management for approval.

Represent the credit union in court proceedings.

Assist in automating collection processes, procedures, and workflows for increased efficiency. Performs other collections related duties of similar scope and complexity.

Adheres to regulations and organizational policies, maintaining awareness and knowledge required to perform the duties of the position including all aspects of the Bank Secrecy Act, Fair Lending, and Information Security.

Equal Opportunity Employment

First Financial of Maryland Federal Credit Union is an Equal Opportunity employer with a strong commitment to hiring for our mission and diversifying our staff. All qualified applicants will receive consideration for employment without regard to race, color, religion, national origin, age, sex, sexual orientation, gender identity, disability, marital status, protected veteran status or any other factor protected by law.