Payment Solutions Representative (Collections)
Job Posting for Payment Solutions Representative (Collections) at Michigan First Credit Union
Location : Address: 27000 Evergreen Location : City: Lathrup Village Location : Postal Code: 48076 Responsibilities:
Job Summary:
Conducts interviews to assess member’s financial situations; recommends solutions to resolve delinquency using creative problem-solving techniques and collection tools. Explains expectations and notifies member of consequences if expectations are not met. Motivates member to implement and stay with proposed solution.
Key Job Responsibilities:
Simply put, Michigan First Credit Union’s sole mission is to provide the highest quality member experience. Working here, you’ll get to participate in a strong culture centered around service, professionalism, and growth.
Michigan First highlights:
Benefits and perks of joining our award-winning team include:
Michigan First Credit Union is an Equal Opportunity Employer.
We are currently seeking a Payment Solutions Representative to join us. The person in this position will report to the Payment Solutions Manager.
Job Summary:
Conducts interviews to assess member’s financial situations; recommends solutions to resolve delinquency using creative problem-solving techniques and collection tools. Explains expectations and notifies member of consequences if expectations are not met. Motivates member to implement and stay with proposed solution.
Key Job Responsibilities:
- Uses a systematic process for identifying delinquent accounts of members/borrowers and follows established methods and procedures for immediately responding to delinquent situations with collection activity.
- Prior to contacting the member, reviews both the account and loan application information to build a profile of the member and understand who they are. Interviews the member in-depth to help further assess their needs and help to determine potential resolutions.
- Consistently uses all stages of the Michigan First sales and service standards when relating to members.
- Maintains good business relations with members, courteously and promptly resolving member problems or questions, and effectively assisting with member account problems.
- Responsible for investigation of fraud cases and possible legal action and collection for delinquent accounts and uncollected checks.
- Reviews collection reports to monitor status of collections and outstanding balances and to evaluate effectiveness of current collection policies and procedures.
- Audits delinquent accounts considered to be uncollectible to ensure maximum efforts have been taken before assigning bad debt status to account.
- Investigates credit report disputes and authorize corrections if necessary.
- Coordinates with others ‑‑ including the service and system provider’s team members or consultants, credit card companies, credit bureaus, insurance companies, collateral protection agencies, and registry offices ‑‑ a program, standard procedure and process to ensure that the credit union's risk in lending in reduced to a certainty.
- Takes action to repossess, foreclose, and take possession of collateral security involved in delinquent loans. Conducts evaluations of collateral security and arranges for the disposition of same.
- Stays current with all provisions of the Federal and State Bankruptcy codes and regulations as well as Repossession and Collection Laws.May represent the credit union in court concerning legal processes connected with collection, bankruptcy, and other creditor/debtor situations. Attends hearings concerning bankruptcy and presents testimony on behalf of the credit union.
- Promotes good working relationships with team and Team Leaders, providing assistance, and appropriately informing the others within the credit union of area activities as needed.
- Becomes/is an advocate of the Michigan First culture, supporting diversity, philosophy and other credit union initiatives. Fosters a positive image of Michigan First via professional representation in all contacts and complies with all of Michigan First’s mission and vision goals. Reflects each of the credit union’s “Isms” in daily job performance. Learns and utilizes the EMEC way (Every Member’s Experience Counts) in day-to-day responsibilities when communicating with members and team members.
- Maintains files, records, and journals to provide a chronology of collection activity for every delinquent account, and provides weekly, monthly, and quarterly reports of collection results
- High school graduate or equivalent. Associate’s degree in a related field is preferred
- Three to five years of collection or related experience; understanding or experience with financial institution products and services preferred.
- Must have exceptional customer service skills and interviewing skills including the ability to assess customer needs, meet the quality of standards of Michigan First, and provide member satisfaction. Uses a wide range of communication skills to deal effectively with members and team members. Listens and responds effectively when dealing with challenging situations; dealing with requests for assistance; and responding to questions or concerns. Is able to clarify member concerns and respond as needed.
- Maintains a collection program and related processes that result in a charged‑off loan ratio, delinquency ratio, and an error-free exception standard on all delinquent accounts that are in keeping with credit union standards and requirements.
- Ability to complete detailed and informative notes on interactions/ discussions with member. Notes are well constructed with a logical flow. Communication is grammatically sound with no abbreviations or jargon. Is able to read and interpret written communication from a variety of sources.
- Handles conflict with a concern for the member and the outcome. Is professional in their dealings with others and accepts responsibility for their own actions. Is able to become a certified Michigan First Payment Solutions Representative based on the standards and expectations set.
- Must have a persuasive personality to influence member decisions. Must be able to learn and know the services and products of Michigan First.
- Needs critical thinking skills to identify the best course of action for members by learning and creating innovative solutions and choosing the best alternatives.
- Has the ability to gather and analyze data and make a decision that reflects that level of analysis. In addition, uses experience and intuition when needed as other resources in the identification and resolution of issues. Decisions are timely and well thought out, reflecting the needs of the member and the credit union. Decisions are communicated clearly and decisively.
- Sets and achieves challenging goals and measures against a standard of excellence, constantly striving to improve their performance. Work is thorough, accurate, timely and detailed. Uses feedback to improve their performance and monitors their work to ensure quality and identify areas for improvement.
- May require Notary Public certificate to execute documents on behalf of members and the credit union.
- Must be able to use the credit union's computer system; Such usage includes, but is not limited to, retrieval of information, printing out individual statements of account, inputting data, updating information, special access to certain fields, and general maintenance of the credit and collection financial and ancillary records.
- Ability to utilize on‑screen loan processing provided by the credit union's main system, or by a computer that accomplishes the same or a similar result.
- Ability to operate standard office machines such as a photocopier, fax machine, personal computer, and such equipment normally found in a credit union.
- Understand the provisions of the Fair Credit Reporting Act to maintain compliance with regulatory permissions and restrictions
Michigan First Credit Union was founded more than 90 years ago by educators and now delivers world-class service to more than 165,000 members at our branches throughout Michigan, and we’re growing! We offer financial solutions for every life stage and seek to positively transform our members’ lives through personalized service that meets their unique needs.
Simply put, Michigan First Credit Union’s sole mission is to provide the highest quality member experience. Working here, you’ll get to participate in a strong culture centered around service, professionalism, and growth.
Michigan First highlights:
- 500 team members
- 30 locations spanning the Lansing area, Grand Rapids and Metro Detroit.
- Industry leader in community support and charitable giving through the Michigan First Foundation
- Member Services Call Center operates 24/7/365
- Over $1.5 Billion in assets
Awards Michigan First Credit Union has been the proud recipient of:
- 2023 Best & Brightest in the Nation
- 2023 Best & Brightest in Metro Detroit
- 2023 Best & Brightest in West Michigan
- 2023 Best Credit Unions to Work For
- 2023 Best Places to Work in Southeast Michigan
- 2023 Channel 4 - Vote for the Best - Mortgage Lenders (1st Place)
- 2023 Channel 4 - Vote for the Best - Credit Unions (3rd Place)
- 2023 Detroit Free Press Top Workplaces
- 2023 Michigan Veterans Affairs Agency - Certified Veteran Friendly Employer - Bronze Level
- 2021 Credit Union of the Year by NAFCU (National Association of Federally-Insured Credit Unions)
Benefits and perks of joining our award-winning team include:
- Very competitive pay
- Low-cost medical, dental, and vision benefit options. Employer-paid life and disability insurance
- 401(k) - 100% match up to 5% deferral
- Tuition reimbursement for both Undergraduate and Graduate degree program
- Access to a complimentary concierge service that assists with nearly any item on your to-do list
- Free, state-of-the-art fitness center at our Lathrup Village headquarters with exercise equipment, showers and locker rooms
- Wellness initiatives and events throughout the year to help team members stay healthy
- Loan discounts for certain secured and unsecured loans and mortgages
- Opportunities for pay increases, incentives and profit-sharing, based on performance
- Onsite subsidized top notch Cafe 26 for team members' use
- Onsite bowling center
Michigan First Credit Union is an Equal Opportunity Employer.
Hourly Wage Estimation for Payment Solutions Representative (Collections) in Village, MI
$20.25 to $25.80
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