Sr. Collection Specialist

    • Job Tracking ID: 512165-768129
    • Job Location: Broomfield, CO
    • Job Level: Any
    • Level of Education: High School/GED
    • Job Type: Full-Time/Regular
    • Date Updated: 06/17/2021
    • Years of Experience: Any
    • Starting Date: ASAP
    • Days of the Week: Mon,Tue,Wed,Thurs,Fri,Sat
    • Hours: M-F 9am - 6pm & occasional Sat 9-1
    • Salary: $19-$24 based upon experience
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Job Description


Responsible for performing collection activities associated with delinquent member accounts, including overdrafts, Visa credit cards, lines of credit, secured loans, signature loans and real estate loans.  Reviews delinquent accounts, determines Credit Union position and, as circumstances indicate, directs and assists legal counsel in collections proceedings.  Assist with repossesions and foreclosure actions.  Ensures that the Credit Union's professional image is maintained.



  • Utilizes effective human relations skills and various forms of persuasion to present a positive Credit Union image in an already negative situation. Calms irate members and answers member questions and complaints relevant to Department functions.  Determines Credit Union position in bankruptcy procedings and works to minimize losses.
  • Uses experience and knowledge of Credit Union loan policies, procedures, and documentation together with knowledge of Bankruptcy Law to review member files in order to establish validity of bankruptcy proceedings. Verifies existence of assets or evidence of fraud and works toward prompt recovery of collateral through negotiations with bankruptcy attorney and/or court.
  • Monitors loans to ensure bankrupt members have adequate insurance coverage to protect collateral and the Credit Union's interests
  • Perform skip tracing
  • Directs and assists with all repossession activity including locating borrower and collateral, handling in process repossessions and disposition of collateral after possession
  • Directs legal counsel in all court complaints and post judgment actions including garnishments, supplemental orders, and execution
  • Directs and assists legal counsel in bankruptcy court proceedings.  Appears in bankruptcy court actions as needed.
  • Assists with foreclosure proceedings involving real property.  Works with legal counsel to coordinate trustee sales, evictions, and title transfers to the Credit Union.
  • Monitors all attorney and bankruptcy accounts to ensure documents and legal proceedings are filed and followed up by legal counsel in a timely manner
  • Recommends possible charge-offs.  Researches and prepares the Write-off Summary Sheet
  • Performs collections efforts in accordance with Credit Union policies and procedures and ensures they are legally compliant
  • Keeps accurate and up-to-date activity reports on late, potentially late, and delinquent loans
  • Documents all collection actions taken, including telephone conversations, alternative financial arrangements, and correspondence
  • Researches loan accounts that appear on late and potentially late records to ensure that Credit Union errors are detected promptly.  Provides members the opportunity to fully explain their loan status.
  • Maintains the Credit Union's professional reputation throughout collections operations and in all contacts with members
  • Maintains confidentiality
  • Develops contacts with the NUCI and other financial institutions.  Uses shared information to effectively minimize Credit Union losses.
  • Keeps management informed of activities, progress attained toward established objectives, and of any significant problems
  • Stays informed of changes in collections policies, procedures, and related legal requirements
    • Ensures delinquent and problem accounts are closely monitored and reviewed
    • Maintains appropriate collections actions are instituted that are in accordance with established Credit Union policies and are legally compliant.  Legal actions are closely supervised and directed.
    • Ensures delinquent accounts are promptly collected.  A delinquency ratio which meets management standards is maintained.
    • Professional business relations exist with members.  Members' are properly assisted with their financial problems and their questions are courteously answered.
    • Maintains effective working relations and coordination with Credit Union legal counsel


Experience and Skills




  • Completed high school diploma, GED or equivalent combination of formal training and experience
  • Additional business training strongly preferred


Required Knowledge:

  • Thorough knowledge of collection procedures, skip tracing, and related laws and regulations
  • Thorough understanding of Credit Union loan products and policies
  • Knowledge of all loan contract terms and agreements
  • Familiar with deposit programs, account ownership, and casualty insurance
  • Thorough understanding of court systems (Small Claims, Circuit, District, Bankruptcy)
  • Thorough understanding of repossession
  • Thorough understanding of written off loan/judgments
  • Complete knowledge of equity calculations, priority of liens, and redemption rights


Experience Required:              

  • Two to five years of collection experience, preferably with a full-service financial institution



  • Accuracy and thoroughness in work
  • Ability to manage projects
  • Excellent communication, telephone, and public relations skills
  • Ability to work well independently
  • Ability to work well in stressful situations
  • Ability to operate related computer applications and other business equipment including calculator, typewriter, copy machine, printer, credit bureau terminal, telephone, fax



  • Standard office conditions
  • Low to moderate noise
  • Limited lifting up to 10 lbs


This description has been reviewed to ensure that only essential functions and basic duties have been included.  Peripheral tasks, only incidentally related to each position, have been excluded.  Essential functions, requirements, skills, and abilities included have been determined to be the minimal standards required to successfully perform the positions.  In no instance, however, should the duties, responsibilities, and requirements delineated be interpreted as all-inclusive.  Additional functions and requirements may be assigned by supervisors as deemed appropriate. 


In accordance with the Americans with Disabilities Act, it is possible that requirements may be modified to reasonably accommodate disabled individuals.  However, no accommodations will be made which may pose serious health or safety risks to the employee or others or which impose undue hardships on the organization.

The Credit Union believes that each employee makes a significant contribution to our success.  That contribution should not be limited by the assigned responsibilities.  Therefore, this job description is designed to outline primary duties, qualifications, and job scope, but not limit the incumbent.  It is our expectation that each employee will offer his/her services wherever and whenever necessary to ensure the success of our endeavors.

Job descriptions are not intended as and do not create employment contracts.  The organization maintains its status as an at-will employer.  Employees can be terminated for any reason not prohibited by law.