Special Assets Loss Mitigation & Recovery Specialist

We are a values-driven organization putting Relationships FIRST. EagleBank (NASDAQ – EGBN) is focused on being Flexible, Involved, Responsive, Strong, and Trusted. By prioritizing meaningful connections with our customers, employees, and shareholders, we relentlessly deliver the most compelling, valuable service to our customers. EagleBank is committed to inclusion, equity, and respect. We celebrate diversity and intentionally seek out opportunities to learn from one another’s experience. We believe employees are essential to the building of relationships and we prioritize investing in employee growth and wellbeing.

Benefits

• Maternity and parental leaves
• Wellness discounts
• Healthcare premium sharing
• Employer funding in your HSA account
• 100% 401(k) matching up to 4%
• Employee involvement through resource groups, mentorship programs, community service, and scholarship opportunities for continued education

Pay

The minimum and maximum projected hourly pay for this position is $31.21 to $48.01.

Schedule

This position is eligible for our hybrid remote work arrangement and will work in the Bethesda, MD office four days per week.

Responsibilities

• Work closely with the Special Assets Group and Commercial Lending RM’s in the administration and tracking of collection efforts.
• Monitor the bank’s Past Due Reports to identify overdue accounts and contact the customer to attempt to either collect the overdue amount or negotiate a payment plan to collect it in installments.
• Perform outreach to delinquent or high-risk customers to secure payment and determine reason for delinquency on active or inactive loan, deposit and/or credit card accounts.
• Contact customers with overdue accounts and attempt to use credit bureau data, post office information, internet searches, and other tools to locate customers who have moved or changed phone numbers.
• Work with the Special Assets Group and Commercial Lenders to administer the process of creating, sending out, and tracking default/demand, acceleration letters, and setoff letters as appropriate; may draft letters as well in coordination with the team.
• Walk-through approved repayment options with customers to set up repayment programs.
• Demonstrate empathy for the client’s situation using ethical behavior consistent with the bank’s code of conduct and work with customers in a positive and professional manner to establish full balance repayment plans or settlements.
• Provide consumer credit assistance, including submission of extension requests and other recovery activities.
• Assist customers with billing problems and research. Disclose all relevant account information to customers accurately, professionally, and in a positive manner.
• Collect research for more complex billing problems and inquiries and work with your manager or the assigned lender to resolve.
• Document all collection efforts in the system of record for each assigned account in accordance with established policies, procedures, and guidelines, which may include relevant system codes.
• Submit regular reports on the status of unpaid accounts and any repayment progress.

Requirements

• Bachelor’s degree; will consider additional 4 years of experience in lieu of degree.
• 5 years of experience in special assets, small business, or consumer lending with an emphasis on understanding and interpreting loan documents.
• Proficient in Outlook, Excel, and browser-based tools and data entry.
• Excellent organizational skills.
• Good oral and written communication and listening skills; patience.
• Solid consumer and regulatory debt collections knowledge – knowledge of fair lending policies; do’s and don’ts of consumer debt collections practices outlined in the Fair Debt Collection Practices Act (FDCPA) and other laws governing debt collection practices.
• Stress management skills.
• Problem-solving skills.

Preferences

• Debt collection experience in a financial institution.