Loan Collections Specialist

Position Summary

The Loan Collections Specialist is responsible for the collection of assigned delinquent accounts for all types of loans.

Essential Duties And Responsibilities

• Contact borrowers with past due and charged off accounts by phone, mail, or in person to request payment.
• Negotiate and recommend extensions or modifications to the Special Assets Manager as well as workout payment schedules with borrowers.
• Review assigned accounts to determine if collection methods have been effective.
• Recommend to Special Assets Manager accounts to review for special attention or intensified collection actions.
• Maintain accurate and complete records on Past due accounts and collection actions.
• Prepare reports regarding past due accounts and collection activities.
• Ensure that loan collection actions on assigned accounts are appropriate and timely, and that established policies and procedures are observed.
• Monitor loans in Bankruptcy.
• Timely file all bankruptcy documents to ensure the bank’s position.
• Prepare all necessary loan documentation to send to collection agents or attorney to initiate foreclosure or collection action.
• Monitor status of all loans in foreclosure or collection.
• Assist in the liquidation of repossessed assets and maintain files.
• Affiliate in the filing and maintenance of SA files and documents.
• Adhere to the BSA Policy and all other Bank Policies.
• Other duties and responsibilities as may be assigned by supervisor.

Minimum Qualifications (Education, Experience, Skills)

• 1 year of experience in collections
• Proficient in Word and Excel
• Excellent phone etiquette
• Ability to meet deadlines
• Ability to handle difficult situations

Physical Demands and Work Environment

• Reasonable accommodations may be made to enable individuals with disabilities to perform the functions.
• While performing the duties of this position, the employee is regularly required to talk and hear.
• The employee frequently is required to use hands or fingers, handle, or feel objects, tools, or controls.
• The employee is occasionally required to stand; walk; sit; reach with hands and arms; climb or balance; and stoop, kneel, crouch, or crawl.
• The employee must occasionally lift and/or move up to 25 pounds.
• Specific vision abilities required by this position include close vision, distance vision, color vision, peripheral vision, and the ability to adjust focus.
• The noise level in the work environment is usually moderate.