Collections Analyst

Overview

Under the direction of the Collections Supervisor, the Collections Analyst is responsible for the consistent and effective management of OPO, OREO, Charge offs and Recoveries.

Additionally, this role is responsible for accurately completing GL Reconciliations and monthly reporting, bankruptcy coding and reporting and delinquency reporting. 

A primary function of this role is to be able to analyze, assess, and recommend actions related to the delinquency trend analysis of accounts.

The Collections Analyst also encompasses more complex collections functions that carry high risk to include but not limited to: testing and recommending system enhancements, communicating with 3rd party vendors and attorneys. 

Key Responsibilities

• In the absence of the supervisor, the Collections Analyst will be responsible to document department performance for compliance, call efforts, and file notation as requested by leadership.

• Notate all accounts with accurate and appropriate detail to allow handoffs to other team members where required, while allowing for consistent compliance and positive member experience.

• Manage OPO/OREO including but not limited to determining values, tracking current inventory, updating notes to be reviewed by BOD, balancing reports to the GL/DDA.

• Prepare and maintain detailed documentation of recovery activities, including documentation of collateral locations, condition, and recovery process.

• Effectively communicates and utilizes third party resources (i.e., Attorneys, 3rd party collection agencies, small claims court, dealers, repossession agents and auction houses, etc.)

• Submit, follow up, and manage accounts approved for repossession to agents under the directive of management

• Submit, receive, and manage all skip claims and damage claims with VSI vendor.

• Resolve internal events/tickets as assigned and complete outgoing events/tickets with details and complete information.

• Send letters and track payment for cancellation of ancillary products. 

• Ability to negotiate with debt management companies while escalating settlements in accordance with internal procedures.

When settlements are accepted, ensure loans are properly coded for credit reporting.

Core Skill Competencies

• Communication: Clear and effective communication skills, both written and verbal.

• Analytical Skills: Ability to analyze data, identify trends, and make data-driven decisions to improve recovery performance.

• Problem-Solving: Creative problem-solving abilities to develop effective recovery strategies and address challenges.

• Attention to Detail: High level of accuracy and attention to detail in managing charge off and recovery processes.

• Negotiation Skills: skilled in negotiating settlements with delinquent members and third-party collection agencies.

• Compliance: In-depth understanding of regulations and compliance requirements related to debt collection and recovery

• Techno...