Provide introduction and overview of the organization's ethos and values
2
Detailed walkthrough of Credit Union Collection Analyst job responsibilities
3
Introduction to the credit union's varied services & financial products
4
Guided tour around the credit union workspace and facilities
5
Meet the team and senior members involved in the Collection Process
6
Explain the process of credit analysis, and how to interpret credit data
7
Training on the use and application of loan servicing software
8
Learn about delinquency stages, rules, and procedures for the collection processes
9
Understand the importance of communication skills in debt recovery discussions
10
Training on the legal issues related to debt collection and regulations on financial lending
11
Approval: Training Completion
12
Familiarize with the documentation process of the credit union's collections
13
Understand how to assess customer financial situations
14
Learn how to design payment plans for customers
15
Understand the non-performing loans (NPL) and necessary actions
16
Mentor guided live observation of collections process
17
Hands-on practice session with real cases under supervisor guidance
18
Evaluation of performance by supervisor
19
Approval: Supervisor for Analyst's Performance
20
Assigned independent tasks and responsibilities upon successful evaluation
Provide introduction and overview of the organization's ethos and values
Welcome to the credit union! In this task, you will learn about our organization's ethos and values. It is important to understand our core principles to align with our mission and vision. This knowledge will guide your decision-making and interactions with customers. What are our key values?
Detailed walkthrough of Credit Union Collection Analyst job responsibilities
Let's dive into the responsibilities of a Credit Union Collection Analyst. This task will provide an in-depth understanding of your role and its impact on the overall collection process. By the end of this task, you should be able to list down your core responsibilities. What are your main job responsibilities as a Credit Union Collection Analyst?
Introduction to the credit union's varied services & financial products
As a Credit Union Collection Analyst, it's crucial to have a comprehensive understanding of our credit union's varied services and financial products. This will enable you to provide accurate information to customers and assist them in finding the best solutions for their financial needs. What are some of the credit union's services and financial products?
1
Mortgages
2
Auto loans
3
Personal loans
4
Savings accounts
5
Credit cards
Guided tour around the credit union workspace and facilities
Let's take a tour of the credit union's workspace and facilities. This will help you familiarize yourself with the physical environment and locate important areas within the credit union. During the tour, make a note of any questions or concerns you may have. What are some areas and facilities you observed during the tour?
1
Customer service area
2
Credit analysis department
3
Meeting rooms
4
Break room
5
IT support desk
Meet the team and senior members involved in the Collection Process
It's time to meet your colleagues and senior members involved in the Collection Process. Building strong relationships within the team is essential for effective collaboration and seamless workflow. Introduce yourself to the team and senior members. Who are they?
Explain the process of credit analysis, and how to interpret credit data
One of the critical aspects of your role as a Credit Union Collection Analyst is credit analysis. In this task, you will learn about the process of credit analysis and how to interpret credit data to make informed decisions. Understanding credit risk and customer financial profiles is essential. How would you explain the process of credit analysis to someone new?
Training on the use and application of loan servicing software
Loan servicing software plays a vital role in managing and tracking loans throughout the collection process. In this task, you will receive training on the use and application of our loan servicing software. Mastering the software will enhance your efficiency and accuracy. Have you used any loan servicing software before? If so, which ones?
1
Software A
2
Software B
3
Software C
4
Not used any software
Learn about delinquency stages, rules, and procedures for the collection processes
To effectively manage the collection processes, you need to understand the delinquency stages, rules, and procedures. This knowledge will help you identify early warning signs, take appropriate actions, and facilitate successful debt recovery. What are the delinquency stages, rules, and procedures for the collection processes?
Understand the importance of communication skills in debt recovery discussions
Communication skills play a crucial role in debt recovery discussions. In this task, you will explore the importance of effective communication and how it impacts successful debt recovery. Enhancing your communication skills will help you establish rapport with customers and find mutually beneficial solutions. Why are communication skills important in debt recovery discussions?
Training on the legal issues related to debt collection and regulations on financial lending
Legal issues related to debt collection and regulations on financial lending are essential aspects to consider in your role as a Credit Union Collection Analyst. This task provides training on the legal framework and regulatory requirements that govern our collection processes. Understanding these laws helps ensure compliance and protect the credit union and its customers. What legal issues and regulations should a Credit Union Collection Analyst be aware of?
Approval: Training Completion
Will be submitted for approval:
Training on the use and application of loan servicing software
Will be submitted
Familiarize with the documentation process of the credit union's collections
Accurate documentation is crucial for maintaining a clear record of the credit union's collections. In this task, you will familiarize yourself with the documentation process, including required forms, templates, and digital systems. This will help ensure transparency, organization, and compliance. What documentation process is followed for the credit union's collections?
Understand how to assess customer financial situations
Assessing customer financial situations is a key skill for a Credit Union Collection Analyst. In this task, you will learn how to evaluate and analyze customer financial situations to determine appropriate collection strategies. Understanding customers' financial positions allows for tailored solutions. How would you assess a customer's financial situation?
Learn how to design payment plans for customers
Designing suitable payment plans is a vital aspect of debt recovery. In this task, you will learn how to design payment plans that align with customers' financial capabilities and facilitate successful debt repayment. By providing feasible options, you can increase the chances of timely payments. What factors do you consider when designing payment plans for customers?
Understand the non-performing loans (NPL) and necessary actions
Non-performing loans (NPL) can pose financial risks to the credit union. In this task, you will gain an understanding of non-performing loans and the necessary actions to mitigate potential losses. Proactive management of NPL is crucial for maintaining the credit union's financial stability. What are the necessary actions to address non-performing loans?
Mentor guided live observation of collections process
To further enhance your skills, you will have the opportunity to observe the collections process under the guidance of a mentor. This live observation will provide valuable insights into real-world scenarios and practical approaches to handling collections. During the observation, take notes on important observations or questions. What were some valuable insights you gained during the mentor-guided live observation of the collections process?
Hands-on practice session with real cases under supervisor guidance
To apply your knowledge and build confidence, you will participate in hands-on practice sessions with real cases under the guidance of your supervisor. These practice sessions simulate real-world scenarios and allow you to practice your collection strategies and techniques. During these sessions, note any challenges faced and reflect on how to improve. What were some challenges you encountered during the hands-on practice session?
Evaluation of performance by supervisor
Your supervisor will evaluate your performance based on your progress, skills, and adherence to credit union policies and procedures. This evaluation provides valuable feedback for continuous improvement and growth. Reflect on your performance and provide a self-assessment. How do you think you performed during the onboarding process?
Approval: Supervisor for Analyst's Performance
Will be submitted for approval:
Hands-on practice session with real cases under supervisor guidance
Will be submitted
Assigned independent tasks and responsibilities upon successful evaluation
Upon successful evaluation, you will be assigned independent tasks and responsibilities. This signifies your readiness to handle collections independently and contribute to the credit union's success. Embrace this opportunity and feel free to share any questions or concerns. What are your expectations and goals for your assigned independent tasks and responsibilities?
