Associate, Collections

About the role

The incumbent has well developed knowledge, skills, and techniques relative to the collection of past due Residential and Consumer loan products. The incumbent works well with peers and supervisor in the successful reduction of delinquency in early stage delinquency (0-89). Incumbent is able to conduct non-automated calling and letter campaigns targeting assigned levels of delinquency. May also be responsible for preparing litigation referral packages and multi-state default preparation.

Responsibilities

• Ensure that collection efforts are entered into the servicing system of record in the form of clear and complete case notes at the loan account level
• Work assigned call queues and call campaign lists to timely completion, using verbal and written communication channels to secure promise of payments, satisfactory arrangements to cure the delinquency and prevent the further ageing
• Communicate in a professional, ethical and empathetic manner to resolve the delinquency
• Seek Quality Right Party (QRPC) during any established contact with the Borrower
• Discuss the financial difficulties causing the delinquency
• Determine (1) Reason for Default (RFD), (2) whether their hardship is temporary or permanent, (3) property occupancy status, (4) Ability to repay the Delinquency
• In each QRPC, achieve one or more of the following outcomes: Collect past due payments; Accept a Promise to Pay or short-term Repayment plan; Discuss or recommend alternate options for resolving the Delinquency through Loss Mitigation as defined in Job Aid 1003.1.4, Collections Chart for Loss Mitigation discussions
• Institute skip tracing efforts as needed and maintain accurate, complete records of same
• Handle the mailing of automated written Collection communications to the borrowers as assigned, including one or more of the following: Mild, Medium and Strong letters, EIL letters, 60 Day Letters ensuring prompt and accuracy of the communication
• Prepare and mail periodic non automated Collection communications to the borrowers as assigned, including one or more of the following: 45 Day letters packages, State specific Default letters ensuring prompt and accuracy of the communication
• Handle payment reversals related to drafts and checks returned NSF
• Support the preparation of documents for Litigation Referral packages and advance calling and skip tracing efforts

Skills

• Excellent verbal communication skills
• Candidates with prior knowledge of the bank's core lending systems [MSP, Signature, Salesforce etc.] preferred
• Knowledge of Investor and Insurer Default Servicing Guidelines preferred

Qualifications

Education: Candidates with advanced degrees (Associates, Bachelor's, and/or Master's) preferred. Candidates with some combination of coursework and experience, or extensive related professional experience, are eligible for consideration.

Experience: Experience in direct collection of residential, consumer and business loan debt in a banking environment preferred.

Pay

The estimated salary range for this position is $20.00 to $23.00 USD hourly. Actual salary may vary up or down depending on job-related factors which may include knowledge, skills, experience, and location. In addition, this position is eligible for incentive compensation.