Address
Form of workLOCATION: 1036 W Tunnel Blvd, Houma, LA 70360
SCHEDULE: 40 hours per week (Monday - Friday, 8 AM - 5 PM)
REPORTS TO: Cheif Credit Officer
JOB SUMMARY: Lead collection efforts across the bank including monitoring changes in laws and regulations, overseeing collection efforts of delinquent accounts, and overseeing those accounts that result in foreclosure, repossession, and litigation and those effected by bankruptcy.
DUTIES AND RESPONSIBILTIES:
- Keeps up with changes in state and federal regulations regarding debt collection.
- Follows Bank Policy regarding delinquencies, non-accruals, restructured debt and charge offs.
- Uses daily delinquent reports to create a contact schedule for each day.
- Works closely with lenders to determine the most effective way to collect their delinquent loans and overdrawn deposit accounts as well as keeping them up to date on collection efforts.
- Develops and maintains a collection system to ensure timely follow ups are performed on broken promises.
- Works with lender on loan work outs and modifications including adjusted repayment terms and rates if warranted.
- Ensures trouble debt restructures are identified and included on the watch list as required by regulatory guidance.
- Provides recommendations at what point a loan should be placed on watch list, non-accrual, and/or charged off.
- Evaluates borrower’s unencumbered assets, pledged collateral and ability to repay to determine the most effective litigation process.
- Analyzes bank’s collateral position to ensure our position is intact. Makes recommendations to lenders if needed to improve our collateral position.
- Provides account information and loan documents to attorneys as needed to send attorney letters, initiate foreclosure proceedings, etc.
- Maintains a constant dialog with attorneys on all accounts that have been referred for litigation to ensure timely conclusion.
- Works with senior management and attorneys to determine appropriate bid for collateral going to Sheriff Sale.
- Inspects foreclosed assets to determine what repairs need to be done and estimates cost.
- Once collateral is owned by bank, determines the amount the asset should be listed on the books for based on a reasonable sales price resulting in a timely sale. Orders appraisals if needed or required by regulatory guidance.
- Makes all necessary general ledger entries or works with accounting on foreclosed assets and other real estate, for payment to attorneys, storage fees, insurance, etc.
- Sends invoices to participants if applicable and ensures payment is received.
- Ensures that all foreclosed assets are insured and maintained as required.
- Notifies President and lender when bankruptcy notice is received on a borrower.
- Based on the Chapter filed, determines how the bankruptcy effects the collection of the loan and what steps need to be taken to protect the bank’s interest.
- Ensures required maintenance is performed on loans that are in bankruptcy to ensure bankruptcy restrictions are adhered to.
- Ensures that the required credit reporting fields are updated to report loans included in bankruptcy.
- Reviews our borrower’s bankruptcy filings on Pacer to determine if the borrower or bankruptcy court is abandoning property if the borrower intends to continue paying or if a reaffirmation is needed.
- Ensures proof of claims are completed accurately and filed timely.
- When required, prepares the reaffirmation and the other required documents for attorney and borrower’s signature. Monitors to ensure they are returned.
- Determines if the case warrants hiring a bankruptcy attorney.
- Determines if the bank needs to be represented at the creditor’s meeting.
- Assists Chief Credit Officer with the preparation of loan reports for Board meetings and regulatory agencies.
- All other tasks needed to minimize any loss to the bank.
- Follow all bank, department, and security policies and procedures.
- Handle additional duties as assigned.
REQUIRED KNOWLEDGE, SKILLS, AND ABILITIES:
- Knowledge of Fair Credit Reporting Act and other applicable state and federal regulations
- Knowledge of bankruptcy laws
- Knowledge of litigation/foreclosure proceedings
- Strong oral and written communication skills
- Ability to establish and maintain interpersonal relationships with co-workers, customers, and peers.
- Service oriented skills (always looking for ways to help people)
- Social perceptiveness skills (being aware of and understanding other reactions)
- Has a good understanding of all regulatory compliance covering consumer and commercial lending
- Ability to work independently, organizing, planning, and prioritizing work
- Sound Judgment and decision-making skills
- Proficient in Excel and Word
EDUCATION AND EXPERIENCE PREFERRED:
- Bachelor’s Degree in Finance, Business or Economics or equivalent experience
EDUCATION AND EXPERIENCE PREFERRED:
- Minimum of 1 year collecting delinquent accounts
- Has experience with bankruptcy accounts, litigation, and foreclosure
- Has experience dealing with customers
PHYSICAL REQUIREMENTS: Must be able to:
- Work mostly sitting at a desk using a computer and telephone.
- Drive a personal vehicle to offsite meetings and company events.
- Handle paperwork and filing.
EQUAL OPPORTUNITY EMPLOYER / VETERANS / DISABLED
