Collections Specialist

About the role

As the Collections Specialist, you are responsible for contacting customers with delinquent loans and negotiating payment options. You will work with borrowers who may be experiencing financial distress and assist the Collections Coordinator in identifying and grading problem loans, repossession of collateral, management reporting, and other duties pertaining to the collection function. As a representative of the Bank, you are required to present a positive and professional image at all times.

Requirements

• High school diploma or equivalent required
• Experience working in collections or special assets preferred
• Knowledge of loan documentation and procedures preferred

Skills

• Excellent customer service skills
• Ability to handle customers in adverse situations professionally
• Proficient negotiation skills and ability to document negotiations effectively
• Proficient computer skills, including the ability to move between various software applications
• Professional verbal and written communication abilities
• Strong organization skills
• Ability to work independently and with a team
• Ability to move fluently between unrelated tasks with ease

Responsibilities

• Contact delinquent customers to discuss delinquency and recommend options for bringing the account current
• Prepare written communication to delinquent customers and ensure expiration dates are monitored and adhered to
• Assist in the repossession process and disposition of repossessed assets
• Assist Collections Coordinator with loan renewal, foreclosed property, and exception management
• Complete monthly and quarterly reporting as required
• Provide recommendations to the Collections Coordinator for adjustments to risk grades, charge offs, non-accrual, and/or legal action based on relationship situations
• Develop open communication between various internal departments and lending staff to resolve collections issues
• Review local newspaper daily for foreclosure notices, tax sales, and obituaries, reporting findings to the Collections Coordinator
• Work with external collection agencies and attorney’s offices to collect charge-off accounts and manage the foreclosure process
• Submit invoices for payment
• Maintain compliance with regulations and bank policies and procedures, including the Bank Secrecy Act (BSA) and the Office of Foreign Assets Control (OFAC) requirements
• Consistently support, uphold, and model the organization’s core values and standards
• Complete other duties as assigned by management

Physical Requirements

This position largely operates in a professional office environment. While performing the duties of this job, the employee is regularly required to communicate effectively with customers, management, and employees. Regular use of the telephone and email for communication is essential. Remaining in a stationary position, frequently operating a computer for extended periods of time, is common. Must be able to accurately gather and process verbal and written information and properly prepare or inspect documents. Good manual dexterity is needed for the frequent use of common office equipment such as computer terminals, calculators, copiers, and telephones. Occasional travel may be required.