Collections Administrative Assistant

First Financial Federal Credit Union

Job Description

Job Title: Collections Administrative Assistant

Department: Collections

Reports To: Collections & Loss Mitigation Manager

Salary Grade(s): 8

EEO-1 Job Class: 5 - Administrative Support Workers

FLSA Status: Non-exempt

☒ Full-time

Location: Admin Center, 72 Loveton Circle Sparks, MD 21152

In-office position with the opportunity to work a hybrid schedule after a probationary period.

Function:

Assists the Collections Department in the resolution of delinquent accounts. Facilitates all administrative requirements for the Collections Department including but not limited to written or verbal correspondence with Law Firms, Members, Vendors, and other areas of the Credit Union.

Great Place to Work:

Team-oriented environment!

Work for one of Maryland’s largest and fastest-growing credit unions! Build your career with a non-profit organization in the financial industry while also helping the community. Since 1953, First Financial Federal Credit Union has been a major asset to the Baltimore and Carroll County communities and with your help, we can continue this tradition. Join our family-friendly company and discover these additional perks:

All eligible First Financial employees receive:

• Excellent Pay with advancement opportunities! Compensation within the posted range is determined by a candidate's education level and/or years of experience in the field. Generally, new employees are hired in the lower-half to mid-range of the position’s pay scale.
• A full benefit package is available for all eligible full-time employees that includes medical, dental, vision, life & disability insurance.
• Paid holidays.
• Paid volunteer time.
• Incentive bonuses.
• Generous 401(k) plan contribution.
• Employee recognition programs.
• Tuition reimbursement - up to $4,200 per calendar year for pre-approved undergraduate courses and up to $5,400 per year for pre-approved graduate courses.
• Employee wellness program, including a free on-site full fitness center in our Administrative Building.

Duties:

• Collections administrative assistant organizes collection related documents to be stored in the appropriate cabinet within the credit unions imaging system.
• Collections administrative assistant prepares and sends loan documentation to attorneys and collection agency for further collection efforts. Updates internal tracking systems for all third-party referrals and prepares quarterly reporting.
• Collections administrative assistant updates and maintains record of all members working with debt counseling agencies. Acts as a liaison between agencies and the credit union concerning payment processing.
• Retrieves and sorts mail for Collections and delivery to appropriate personnel.
• Responsible for transferring loan payments and advancing loans to reflect applicable service fees.
• Collections administrative assistant provides dual control by posting agency and attorney payments. Verifies payment transactions for payments made by collectors.
• Collections administrative assistant compiles data, prepares and maintains files for all bankruptcies, and legal suits. Places appropriate holds on accounts and disburses funds to appropriate agencies. Processes trustee payments.
• Collections administrative assistant maintains insured mortgage claims process and coordinates with the vendor for claim reimbursement. Reports suspected unfair or deceptive practices in the lending and collections procedures.
• Resolves member concerns escalated through the customer relation management system (CRM).
• Assists Collections and Loss Mitigation Manager in preparation of month end reports and Loss Mitigation Packages.
• Reconciles monthly attorney invoices for services rendered and assists Accounting with balancing Collections GL.
• Responsible for managing automated member delinquency notification program to include notices, letters, and electronic communications and records preservation for subsequent legal action.
• Serves in the capacity of collector, as needed. Fully trained in collection regulations and compliance.
• Adheres to regulations and organizational policies, maintaining awareness and knowledge required to perform the duties of the position including but not limited to FDCPA, FCRA, FACTA, TCPA.
• Compile daily delinquency report for distribution to collections staff and Chief Lending Officer.
• Act as liaison with collection agencies and attorneys.
• Reviews and process approved short-term loan workouts.
• Analyze settlement offers on charged off loans and make recommendations to management for approval.
• Represent the credit union in court proceedings.
• Assist in automating collection processes, procedures, and workflows for increased efficiency. Performs other collections related duties of similar scope and complexity.
• Adheres to regulations and organizational policies, maintaining awareness and knowledge required to perform the duties of the position including all aspects of the Bank Secrecy Act, Fair Lending, and Information Security.

Position Requirements:

Equal Opportunity Employment

First Financial of Maryland Federal Credit Union is an Equal Opportunity employer with a strong commitment to hiring for our mission and diversifying our staff. All qualified applicants will receive consideration for employment without regard to race, color, religion, national origin, age, sex, sexual orientation, gender identity, disability, marital status, protected veteran status or any other factor protected by law.