Account Resolution Representative
Job Description
About BFSFCU:
Bank-Fund Staff Federal Credit Union (BFSFCU) 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, BFSFCU maintains three full-service branches in downtown as well as a full-service Lending Center near Farragut West metro station.
Summary:
Support and cultivate strong relationships through on-going member contact, quality member service, and superior knowledge, to resolve delinquent accounts and pre-serve Credit Union assets.
Perform a variety of support functions to assist in the timely and efficient performance of collection activities.
Responsibilities:
Requirements
Minimum Qualifications:
Education
Experience
Skills
For internal purposes, this position is graded as NE-6
Bank-Fund Staff Federal Credit Union (BFSFCU) 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, BFSFCU maintains three full-service branches in downtown as well as a full-service Lending Center near Farragut West metro station.
Summary:
Support and cultivate strong relationships through on-going member contact, quality member service, and superior knowledge, to resolve delinquent accounts and pre-serve Credit Union assets.
Perform a variety of support functions to assist in the timely and efficient performance of collection activities.
Responsibilities:
- Monitor delinquent accounts; engage in contact with members through verbal and written correspondence, taking appropriate action to work with members to bring delinquent accounts current. Determine appropriate contact method and ensure follow-up communications are scheduled and conducted in a timely manner.
- Educate members, borrowers, co-borrowers, or guarantors by providing information and sup-port to resolve delinquent accounts through repayment, Right of Offset, payment arrangements, or other options provided in account agreements.
- Maintain complete and accurate records concerning all collection activity within the collection system to include contact/correspondence details, transaction details, payment arrangements, and resulting notices or communications.
- Ensure member contact information and contact preferences are up-to-date and accurate. When necessary, attempt to locate unreachable members utilizing skip tracing methods.
- Record, process, and reconcile payments from members, external consumer credit counseling services, and collection agencies.
- Ensure accurate credit reporting by maintaining appropriate records. Ensure any credit disputes are actioned in a timely manner. Research and coordinate credit reporting dispute adjustments when appropriate.
- Make recommendations to the Collections Manager for charge off, repossession, or foreclosure, as appropriate, when an account is determined uncollectible or other collections efforts are not productive.
- Process accounts approved for charge off. Perform post-charge off actions such as notifications to members or confirming closure of accounts.
- Liaise with external third parties collection agencies, credit reporting agencies, and attorneys to supply documentation or assign accounts.
- Comply with all applicable laws and regulations relating to debt collection; adhere to organizational policies and procedures and departmental processes.
- Ensure secure and appropriate handling of communications that are sensitive or confidential or contain non-public personal information or Credit Union data.
- Assist in the preparation and mailing of IRS Forms 1099-C - Cancellation of Debt.
- Assist with the development and maintenance of operational procedures.
- Seek and make recommendations for process enhancements and efficiencies.
- Contribute to a positive and engaging working environment.
- Perform all other related functions and projects as assigned by Management.
- Participate in annual Bank Secrecy Act (BSA) and Office of Foreign Assets Control (OFAC) training and demonstrate knowledge and understanding of the BSA and OFAC, including the immediate reporting of unusual or suspicious activity to the Risk Management Department. Undertake additional training specific to daily responsibilities and as required to ensure continued compliance with all applicable regulations.
- Ensure Credit Union safe harbor protections as allowed by the BSA. Understand that if confronted with knowledge of existence of a Suspicious Activity Report (SAR), an obligation exists to preserve the confidentiality of that SAR, as well as any information that may reveal the existence of a SAR. Maintain awareness of, and immediately report to the Compliance Officer, any unauthorized disclosure of a SAR, or unauthorized disclosure of information related to a SAR. Understand that failure to do so is a violation of federal law and may lead to both civil and criminal penalties for SAR disclosure violations.
- Successfully participate in annual Information Security refresher training. Complies with the Information Security Policy, including the immediate reporting of unusual or suspicious activity to management and the Security Officer. Follow all procedures to protect company computers from viruses, and to maintain the security and confidentiality of Credit Union data.
Requirements
Minimum Qualifications:
Education
- High school degree or equivalent
Experience
- Prior collection experience preferred
- Prior banking experience preferred
- Knowledge of BFSFCU products and services preferred
- Recipient of service excellence awards preferred
Skills
- Must demonstrate commitment to the Credit Union Service PACT philosophy.
- Must possess strong interpersonal skills and connect with our members in a compassionate, professional, and calm manner.
- Must demonstrate excellent written and verbal communication abilities and deliver work products that demonstrate attention to detail.
- Must demonstrate effective time management habits.
- Must be able to perform job functions independently and work effectively either on own or as part of a team.
- Must be able to speak clearly and deliver information in a logical and understandable sequence.
- Must demonstrate ability perform basic mathematical calculations with accuracy.
- Must be able to perform responsibilities with composure under the stress of deadlines or when challenged.
- Must demonstrate ability to effectively handle multiple, simultaneous, and changing priorities.
- Must be capable of exercising highest level of discretion on both internal and external confidential matters.
For internal purposes, this position is graded as NE-6
Date Posted
08/29/2022
Views
6
Positive
Subjectivity Score: 0.8
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