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PC
PSE Credit Union, Inc.
Collector
Career Insights for Collections Specialist
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Scorecard
Based on Ohio data
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What they do
A Collections Specialist works for a company or credit agency to collect bill or account payments owed by customers. Reviews the amount of an overdue account, contacts customers to request payment, and negotiates payment plans as needed.
$41,651 / year median in Ohio
-27% projected decline
Job Description
Description:
The Collector is charged with fulfilling all activities relative to delinquency control, loss prevention, and the recommendation of charge offs on a monthly basis in accordance with policy. This position requires an understanding of all regulatory and compliance matters pertaining to the collection of consumer loans.Responsibilities:
- Initiates and documents all member communications related to delinquent accounts, including secured loans, unsecured loans, and negative share balances.
- Handle outbound and inbound calls to resolve past-due accounts including auto loans, personal loans, signature loans, and credit card accounts.
- Negotiate payment arrangements, settlements, and workouts to assist members in curing their delinquency.
- Applies skip tracing techniques to locate member communications in the servicing system.
- Ensure professional, empathetic, and member-focused communication with all members.
- Escalate accounts for repossession, legal action, or charge-off when appropriate.
- Performs other collection duties as assigned, including support for collateral recovery, monitoring bankruptcy accounts, charge-off recovery, and deficiency outreach.
Qualifications:
- High School graduate.
- Minimum of 1 year of collections experience required.
- Possess excellent communication skills both verbally and written.
- Possess thorough knowledge of regulations applicable to essential responsibilities.
- Ability to motivate and influence others.
- Ability to perform analytical interpretation, evaluation and/or constructive thinking of problems that may require analysis of a wide variety of data; weighing the desirability or probability of possible outcomes. Problems may involve thinking out several steps into the future.
- Possess strong knowledge of how to use a personal computer and MS office products.
- Ability to make decisions without previous precedent to draw upon.