Collections Specialist

Job Summary : Reporting to the Sr. VP, Director of Lending, this position is responsible for performing collections activities for the bank. The incumbent is accountable to research, locate and contact delinquent customers, proactively work with customers to bring loans current and resolve delinquency issues. The incumbent will work with the Sr. VP, Director of Lending to keep current with changing regulations. The incumbent will comply with the Bank Secrecy Act (BSA), the Office of Foreign Assets Control (OFAC), the USA PATRIOT ACT (CIP), Customer Due Diligence (CDD), including reporting suspicious activities to the BSA Department as well as other banking and company regulations and rules.

Responsibilities, Duties & Accountabilities : The core, critical and essential work duties, functions and responsibilities of the position are as follows :

• Performs proactive research, monitors and contacts delinquent customers; makes outside visits and meets with customers to prevent and resolve problems, in efforts to maintain or bring loans current. This includes past due Commercial Loans, Mortgage, credit card and Installment loans.
• Proactively performs collection activities regarding workouts of loan payments on delinquent accounts; Reviews delinquent loan status and proactively contacts delinquent account holders through telephone calls, letters and external visits;
• Assists and supports the Collections Specialist II with administrative and legal documents and processes, coordinating with attorneys, making on-site visits to the courthouse and performing various other procedural functions;
• Responsible for the timely scheduling for property management i.e. : regular inspections and property maintenance, etc.;
• Responsible for coordinating and repossessing collateral, as necessary; under the direction and guidance of leadership will conduct repossessions of collateral and foreclosures on properties;
• Assists the Collections Specialist II in the administrative duties of repossessed collateral and the foreclosure of delinquent accounts determined to be non-resolvable, to ensure that all proper documentation is accounted for and all data are properly entered; Performs duties related to repossessed collateral and foreclosed properties for proper management i.e. : tax and insurance payments, etc.
• Provide assistance and support to the Credit Department for Loan Loss Reserve along with data analysis for loan portfolio to monitor for potential risk in the portfolio including concentrations in industry, collateral types and geographical areas. ;
• Collaborates with team members to support successful collections practices and processes;
• Assists and supports the Collections Specialist II with preparation of monthly, quarterly, and annual reporting to board of directors and Sr. Management. Assists and supports the Collections Specialist II with preparation of delinquent loan status reporting for the bank; ensuring the timely and updated reporting for delinquency meetings, leadership and the Board of Directors;
• As part of the overall team of bank employees, this position may be requested to assist in the support of other bank activities and represent the bank at external events;
• Train and act as back up for the Collections Specialist II.
• Other duties as assigned.

Required Qualifications :