Loan Servicing and Collections Specialist

Loan Servicing and Collections Specialist

DEPARTMENT OF LABOR FEDERAL CREDIT UNION - 3.3

Washington, DC Job Details $23 - $26 an hour 1 day ago Qualifications Customer communication Spreadsheets High school diploma or GED Microsoft Teams Productivity software Cross-functional collaboration Cross-functional communication Full Job Description Position Summary The Loan Servicing and Collections Specialist is a cross‑functional role responsible for supporting loan servicing, quality control, and early‑stage consumer collections activities. This position ensures the accuracy and integrity of loan records, supports post‑closing and loan maintenance functions, assists with quality control reviews, and performs routine collection activities in accordance with credit union policy and applicable regulatory requirements. This role provides operational flexibility by supporting both loan servicing and collections workflows, helping to ensure continuity, documentation accuracy, and consistent member experience. Loan Servicing Support Perform loan servicing activities including loan maintenance, post-closing reviews and system accuracy checks. Assists with title tracking, collateral documentation, and resolution of post‑funding exceptions. Review loan files and system records for completeness and accuracy in accordance with established procedures. Research and respond to loan service requests related to consumer loan accounts. Ensure loan documents and records are properly indexed, imaged, and maintained within core systems. Quality Control Support Assist with quality control reviews of loan files to ensure compliance with internal policies and regulatory requirements. Identify documentation errors, missing information, or data discrepancies and escalate findings appropriately. Support correction actions and follow‑up related to quality control findings. Maintain quality control logs, tracking tools, and audit documentation and assigned. Consumer Collections (Collector I Functions) Perform early‑stage and routine collection activities on consumer loan accounts in accordance with policy and applicable laws. Contacts members regarding past‑due accounts to discuss payment arrangements and resolution options. Document all collection activity accurately and timely within designated systems. Maintain a professional, respectful, and member‑focused approach during collection interactions. Escalate complex or higher‑risk accounts to senior collections staff as appropriate. Workflow Support & Cross‑Functional Collaboration Prioritizes work assignments across loan servicing, quality control, and collections based on departmental needs. Coordinate with underwriting, loan processing, servicing, and collections team members to resolve issues and ensure smooth handoffs. Provide backup support across loan servicing and collections functions as needed. Assist management with operational reporting or reconciliation tasks as assigned. Compliance & Risk Management Perform all duties in compliance with applicable laws, regulations, and credit union policies. Comply with Bank Secrecy Act (BSA), Anti‑Money Laundering (AML), and OFAC requirements applicable to the role. Maintain confidentiality and accuracy when handling sensitive member and loan information. Position Requirements High School Diploma or equivalent required; college coursework preferred. Minimum of 2 years of experience in loan servicing, lending operations, member service, or consumer collections in a financial institution. Basic understanding of consumer loan products and servicing processes. Strong attention to detail and documentation accuracy. Ability to manage multiple priorities in a structured, deadline‑driven environment. Proficiency in Microsoft Excel, Word, and Teams. Ability to communicate professionally and effectively with members and internal staff. Interpersonal Skills Strong member service and communication skills. Ability to work collaboratively across departments. Sound judgment, discretion, and accountability when handling sensitive information. Adaptability and willingness to support multiple functional areas.

Work Environment:

This position is a hybrid position. Travel to onsite premises will be required. This job description reflects the core responsibilities and expectations of the Loan Servicing and Collections Specialist role. The employee may be required to perform other job‑related duties as assigned, and the role may be adjusted as operational needs evolve.