What are the responsibilities and job description for the Credit Counselor II position at Notre Dame Federal Credit Union?
PRIMARY FUNCTION:
The Credit Counselor II position is responsible for developing and implementing an effective system of delinquency and loss control by restructuring loans in default status through workout loan options including modifications, forbearances, and trouble debt restructures (TDRs). This position will also serve as primary point of contact for all matured/maturing consumer loans. This position will generate applications while working closely with Loan Operations, Underwriting and the Branch lending network (referrals) with respect to any applications containing derogatory credit or losses against Notre Dame FCU. The primary focus on this position is in preventing losses rather than generating new loan business, as the emphasis is to turn around default/non-accrual loans back to performing status or prevent them from reaching such status. This position will also work on assignments from the Credit Solutions Manager to assist in ensuring delinquency and the resulting losses are kept to pre-determined Notre Dame FCU limits.
ESSENTIAL DUTIES & RESPONSIBILITIES:
This position must effectively carry out the essential duties of this position in a manner that consistently demonstrates the core values of Notre Dame Federal Credit Union in a positive manner. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions. The duties identified below are the essential functions of the position and other duties may be assigned.
- Correspond with members as assigned by phone, email, written communication, or in person to determine the reasons for their delinquent status; counsel and evaluate these members to find the best resolution to their financial difficulty.
- Counsel members on appropriate use of credit and budgeting, and the effects of negative versus positive credit and repayment activity.
- Maintain an expert level knowledge of all Consumer Lending Products and Services (including Home Equity Loans) offered by Notre Dame FCU.
- Actively determines members’ financial needs, requirements, and expectations in order to recommend appropriate products and solutions. This includes seeking out/teaming with 3rd party vendors (e.g. – Non-profit Credit Counseling Agencies) for alternative payment solutions.
- Accurately input Notre Dame FCU loan applications (excluding 1st Mortgages), accurately present rates and terms in accordance with standard procedures, and submit final applications (with all supporting documentation) to Credit Solutions Manager and/or Asset Recovery Manager.
- Review and recommend, to the Credit Solutions Manager, any accounts that should be turned over for legal action or handled by an outside collections agency prior to charge off.
- Take measures to locate members when necessary, utilizing skip tracing techniques.
- Review and recommend Repossession orders, Foreclosure initiation actions, and projected charge offs on accounts considered to be un-collectible to the Asset Recovery Manager as necessary.
- Maintains files, records, journals, and other electronic documents to provide a chronology of collection, credit counseling, and lending activity for delinquent loans and negative accounts including providing reports to management.
- Performs such other duties and functions as might be required for the efficient and effective operation of the Credit Union, or as might be assigned by Credit Solutions Manager and Asset Recovery Manager.
- Maintain Credit Union compliance with state and federal laws and regulations. These include, but are not limited to, bankruptcy law, debt collection and reporting law, and privacy law. Coordinate and cooperate with NCUA, private sector and/or internal auditors to monitor the functions of the Credit Counselor II – Loan Workout Specialist responsibilities.
- Attend departmental meetings as required.
- Promote cross selling of Credit Union products and services. Provide referrals to other departments, including 1st Mortgage department.
- Comply with the Credit Union code of ethics.
- Responsible for adherence to Credit Union policies and procedures.
SUPERVISORY RESPONSIBILITIES:
No requirement.
PERFORMANCE STANDARDS:
To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. This position requires persistence in collection, counseling and lending routines regarding delinquent account identification and daily/weekly follow up.
A professional and respectful attitude towards fellow partners and members of the Credit Union is essential to ensure the objectives of the collection and lending functions are attained. Professional appearance as well as the ability to effectively communicate with borrowers and fellow partners is required.