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Repayment Solutions Specialist (Collections)

Company: Michigan Schools and Government Credit Union
Location: Troy
Posted on: April 3, 2024

Job Description:

Founded by a small group of educators, Michigan Schools & Government Credit Union (MSGCU) has been providing quality financial services to the community for 70 years and welcomes everyone in Michigan to bank with us. We are financial champions committed to helping our members achieve financial success by rallying behind them and their goals. As the sixth largest Credit Union in Michigan, MSGCU has 21 branch offices...soon to be 22 in south east Michigan, over 400 team members, 140,000 members, $3.5 billion in assets, and a 95% member satisfaction rating for two decades. We are a caring organization that strives to ensure an equitable and inclusive culture where everyone is valued and respected. Our dedication to team member engagement has contributed to the honor of being named a Top Workplace by The Detroit Free Press eleven years in a row.
If you have a passion for helping people and providing exceptional and dependable service, we want you on our team!
More information about our comprehensive total rewards package can be found here.
Overview of Responsibilities: Protects MSGCU's assets and develops strong relationships with our members that need special assistance. Analyzes risk through an understanding of MSGCU's collection policies and procedures in conjunction with the laws pertaining to the collection of accounts, fair debt collections practices, and bankruptcy.
Essential Duties and Responsibilities:


  • Manages assigned workload of past due accounts in a timely and professional manner. Takes ownership and focuses on obtaining strong payment arrangements that result in cured loans.
  • Contacts members to determine reasons for delinquency and assists them in developing plans to resolve delinquency and bring accounts to current status by reviewing credit history/reports.
  • Analyzes member's total relationship with MSGCU in order to find solutions that will reduce delinquencies, increase member cash flow, and reduce loss to the organization.
  • Uses a proactive and consultative approach to identify opportunities to assist the member in meeting their financial goals.
  • Handles confidential financial matters with tact, empathy, and understanding while maintaining results in curing past due accounts.
  • Maintains accurate and complete collection history using collection software.
  • Keeps manager informed relative to the collection of past due accounts and all related activity.
  • Collects past due funds on delinquent accounts. Handles payments and transfers to address delinquent loan payments as well as fees.
  • Oversees the preparation of files for bankruptcy through the Repayment Coordinator and ensures the files are sent into the attorney. Informs legal counsel of all aspects of bankruptcy situations.
  • Reviews files for fraud.
  • Conducts skip tracing techniques to find members and locate collateral.
  • Assists manager with monthly and quarterly reports (loan loss, monthly delinquency, charge off, etc.) as well as reviewing the status of charged-off loans placed with outside collection agencies.
  • Ensures compliance with state and federal regulations related to all aspects of collection activities.
  • Oversees accounts placed for repossession and collection agency accounts.

    Essential Knowledge, Skills and Abilities:

    • Member Focus: Uses active listening skills to gain understanding and determine the needs of others in order to resolve problems, build strong relationships (internal/external), and deliver member-centric solutions.


      • Action Oriented: Takes on new opportunities and tough challenges with a sense of urgency and enthusiasm.
      • Communicates Effectively: Develops and delivers communications (verbal and written) that convey a clear understanding of the unique needs of different audiences.
      • Instills Trust: Gains the confidence of others by modeling honesty, integrity, authenticity, and behaviors that align with organizational values. Exemplifies courage by stepping up to address difficult issues.


        • Self-Development: Actively seeks new ways to grow and be challenged using formal and informal development channels.


          • Proficient in Microsoft Office products (Word, Excel, Outlook, PowerPoint) and the ability to operate standard office equipment.
          • Knowledge of simple cash accounting records and mathematical proficiency.
          • Understands the basic civil legal process and knows when to place accounts for claim and delivery, civil suit for judgment etc.
          • Functional understanding of bankruptcy laws, fair debt collection practice, and skip tracing techniques.

            Essential Preparation and Experience:

            • Associate degree or equivalent combination of education and relevant work experience; and
            • 2 years of collection experience with consumer loan products in a financial institution or 5 years of other collection experience.
            • Experience collecting mortgage, Fannie Mae, FHA, and indirect loan delinquency strongly desired.
            • Minimum high school diploma or GED required.

              Working Conditions:

              • Office and branch location environment with little discomfort from noise, extreme temperature, dust, or other factors.
              • Occasionally required to travel throughout MSGCU's service area as business needs require.
              • Exposed to potentially hazardous conditions, such as robbery. Receives detailed instructions and security procedures on an annual basis to minimize risk.
              • This work involves sitting most of the time with brief periods of walking or standing and may occasionally require lifting and/or moving up to 10 pounds.

                Compensation and Benefits:
                Competitive salaries are just the starting point for MSGCU team members. Generous health benefits, vacation time, retirement plan contributions and discounts on loans and phone service also come with the job.

                • Base hourly pay begins at $20.80 / hour
                • Medical, dental and vision on your first day! You can choose the most generous Health Savings Account (HSA)-eligible medical plan with no monthly premium for you (and your family)
                • If you are at least 21 years old, you will receive a 3% contribution from MSGCU, and a 100% match for the next 7% you contribute to your 401(k)
                • You will enjoy 12 paid holidays and up to 120 hours of PTO your first year of service (pro-rated based on start date)

                  #MSGCUIND

Keywords: Michigan Schools and Government Credit Union, Troy , Repayment Solutions Specialist (Collections), Accounting, Auditing , Troy, Michigan

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