Collections/Account Resolution Team Lead

Description

About BankFund:

BankFund Credit Union is a full-service financial cooperative that was organized and chartered in 1947 as a convenient place for employees of the World Bank Group and International Monetary Fund and their families to save and to obtain credit. Located in Washington, DC, BankFund maintains three full-service branches downtown with our headquarters located near Farragut West metro station. This position is classified as a hybrid role which means that on-site work will be expected. After completion of training for the role, staff generally work on site 40% of the time but this is subject to change based on health and safety standards and operational need.

Role Responsibilities:

· Perform daily collection outreach for  delinquent consumer loans, real estate, credit cards and negative share  accounts to resolve delinquency through payment plans or other loss mitigation  options 

· Contact delinquent members to offer  short/long term solutions including repayment plans, promises-to-pays, or loss  mitigation options (e.g. forbearance, deferment, loan modifications,  refinance) 

·  Monitor  delinquency performance in collection queues, advise and work with staff if  queues are outside of KPIs and report trends to Account Resolution Manager

· On a routine basis, monitor collection cases  for accuracy of information, documentation, and collection practices. 

· Maintain knowledge of, and processes for,  specialty cases (Bankruptcy, Repossession, Foreclosure, and Decedent  accounts). Guide and support Account Resolution staff with specialty cases and  periodically monitor cases for quality assurance and completeness. 

· Provides coaching to Account Resolution  staff on daily collection processes 

· Serve as the primary path for escalated  complaints and forwards to Account Resolution Manager as necessary 

·  Ensure  Account Resolution staff process timely delivery of repossession letters,  maintaining the repossession cases /records, transport and remarketing of  vehicles while maximizing the return of sold collateral 

· Ensure Account Resolution staff file Bankruptcy  proof of claims, prepare reaffirmation agreements when needed, post-Bankruptcy  payments and maintain proper record of claims 

· Ensure Account Resolution staff file Estate proof  of claims for deceased members 

· Assist the Account Resolution Manager with Foreclosure recommendations and maintain case documentation. 

· Recommend accounts for charge off and refers  accounts to the Account Resolution Manager for review 

· Upon approval from the Board and Management,  process Loan Charge Offs in core system

· Responsible for liaising with Accounting  Department for NCUA Call Reporting and Investor Reporting obligations 

· Responsible for third party placements and third-party  payment reconciliation 

· Responsible for In-house collection recovery of  charged-off loans. 

· Assists Account Resolution Manager with  negotiating settlements on charged off accounts

· Assist in the preparation and mailing of IRS  Form 1099-C 

· Review and recommend updates to operational  procedures to Account Resolution Manager 

· Serve as backup up to all Account Resolution  staff

· Perform all other related functions, projects,  and testing assigned by the Account Resolution Manager

· Maintain working knowledge of the       federal and state consumer protection laws (Unfair, Deceptive, or Abusive       Acts or Practices; Fair Debt Collection Practices Act; Fair Credit       Reporting Act; Service-members Civil Relief Act; etc.)

For internal purposes, this position is graded as NE-9. 

The anticipated annualized base salary range for this position is $70,000 to $87,000. Final base salary for this role will be based on the individual’s job-related experience, skillset, training, certifications and market demands. The benefits available for this full-time position include but are not limited to: medical, dental, and vision insurance, 401(k) plan, life insurance coverage, disability benefits, tuition assistance program and paid time off, including paid parental leave benefits. In addition to base compensation salary, this role position is eligible for an annual incentive plan.

Requirements

Minimum Qualifications

Education:        2 year/Associate's Degree

Minimum Years of Relevant Experience:           8 years

Skills and Knowledge (Required):  

• A strong and proven       commitment to the Credit Union’s Service IMPACT Philosophy 
• Knowledge of billing and       collections procedures

· Knowledge of Bankruptcy process

· Knowledge of Repossession process

• Strong problem-solving skills       with the ability to think independently
• Strong attention to       detail
• Strong understanding of       Credit Union’s loan products and services
• Ability to multi-task
• Highly motivated and       organized
• Independent worker
• Commitment to excellent       customer service 
• Excellent written and       verbal communication abilities 

Additional Skills and Knowledge (Preferred): 

· Collections experience at a credit union

· Financial Counseling  Training/Certification 

· Bankruptcy Training/Certification

· Leadership/Communication Training

Physical Requirements: 

· This position involves physical requirements typical of office or desk-based work, such as prolonged periods of sitting, computer use, and engagement in routine office activities. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions of the job.

No additional physical requirements