Collection Officer

Newark Board of Education Employees Credit Union i seeking a Collection Officer


Newark Board of Education Employees Credit Union

Collection Officer position available at Newark Board of education Employees Credit Union,

 Newark, NJ 07106

Essential functions:

Responsible for managing delinquencies in addition to the control of late and/or delinquent loan accounts and pending late payment reminders.  Make follow up telephone calls on delinquent loan and maintain accurate records on delinquent loans accounts.

Optimize collections on accounts while balancing the goodwill of members with the overall business interest of the credit union.

Duties and Responsibilities:

  • Managing the collection efforts/calls.
  • Documenting daily collections activity.
  • Identifying delinquent accounts requiring external collection efforts.
  • Identifying bad debt or financial exposure.
  • Monitor payments for late and/or delinquent status. Follow up on delinquent, high balance, and overdue credit balance accounts by telephone and /or letter. Ensure professional interface with members.
  • Contact high balance and/or delinquent member by telephone and mail to determine the reason for balance or delinquency, and assist them in developing plans to bring accounts wherever possible.
  • Notify co-signers regarding status of delinquent accounts.
  • Update files and system accounts via the credit union’s delinquent loan recovery system.
  • Skip trace on loans. Maintain accurate data for repossession log, bankruptcy files, and charge-offs list, etc.
  • Research payroll deductions, stop, start, and changes as they may affect the status of the loan repayment.
  • Assist members with delinquent real estate loans to resolve delinquency.
  • Determine when to compromise and settle balances and when to initiate foreclosure or repossession.
  • File claims, attend hearings, and coordinate with trustees for all bankruptcy filings.
  • Investigate and correct discrepancies in loan applications and credit bureau reposts.
  • Work with Loan Officer on TDRs and Deferments, (including policy and procedures).

Education and Skill Experience:

  • Excellent customer service, negotiation, communication and analytical skills.
  • An associate or bachelor’s degree in accounting or related area is preferred.
  • Financial institution experience with similar job functions and 1-5 years’ collection experience.
  • Strong interpersonal skills (oral and written communications).
  • Must be able to work independently as well as in a team environment.
  • Proficient in office equipment such as, but not limited to PC, 10-Key calculator, copier and software such as MS Word, Excel with the ability to learn new software programs as required.

Qualifying candidates should send resume including salary requirements to

Posted 5-1-18